Dilemma - Brother wants to sell me collection

[coinfinder]

Back in the early 70s my grandfather gave my brother a "hoard" of coins. Among these were 42 silver dollars which were a mix of Morgans and Peace dollars. These were the coins my grandparents had given my mother for her birthday over the years (needless to day Mom is still ticked about this). From what I understand there is an 1883 o in the collection and a 1921 Peace dollar. There are also about 40 rolls of steel pennies, a few rolls of war nickles, various halves and the regular books from the era (dimes, pennies, quarters, etc.).

My brother recently called me and told me he would sell me the collection for 3K, a price from which he won't budge. For some reason he things the price for the Silver dollars is 30 bucks (Regretfully, I gave him the coinflation site, which he misunderstands). He still has not provided me with a full listing of coins, so I am not sure what else is in the collection. I am afraid I will let sentimentality get in the way if I purchase this collection, although I hate to see the dollars sold. Any advice would be appreciated.

 

[Steve L.]

My friend,
I'd stay clear of this deal. I think it will only bring animosity into family matters.
You may suggest to your brother that he speak with your mother about his desire to unload the collection. She and he may come to some agreement about coins that were originally gifts to her.
Good luck,
Steve

 

[CardsNCoins]

Go with him to a few coin shops to get quotes, then after you've been to about 3 or 4 of them tell him you'll give him 5% more than the highest offer he got that day.

 

[fistfulladirt]

Go with him to a few coin shops to get quotes, then after you've been to about 3 or 4 of them tell him you'll give him 5% more than the highest offer he got that day.

That sounds reasonable to me.

 

[jim4silver]

The Morgan you mention is not rare, and the 1921 only goes for a couple hundred in MS condition at best. If you really want the collection, I think the other posters gave good advice on taking him to some coin stores and offering to beat their price. I don't think you even need to go up 5% over, even one cent over should be enough if your brother just wants the most $$$$ he can get.

If you two don't get along he will probably not sell to you anyway just to be an a$$ and make you feel bad about not getting the coins. Don't pay over market price though.

If you two get along you can also use the "keep it in the family" line and he should go for that along with the money you will pay him if he is reasonable.

Jim

 

[desertfox]

It's only coins, that really belong to your mother, I'd stay away from them if I were you. I learned the hard way when dealing with close family members and money. It's like water and oil, they don't mix!

HH

 

[treeslayer]

My grandfather died and had a coin collection that every one wanted. They did not care about the fact that it belonged to their grandpa. So instead of fighting with them my dad said we will look its value up in the Red Book and who ever wants it can buy it. Once the opportunists realized it would cost them they all said the hell with it. My grandpa was the person who started me in coin collecting and to me they had more then money value. So I bought them and still have them today. Thirty years later. I hadnt looked at them in a long time, (twenty Years), until about a month ago, And holly sh@@ was i shocked at the value now!!! I thouht of grandpa up there laughing . If I were you,I would ask him if you could look at the coins a you could determine fairly quickly if its worth it. And even if its a little over priced, it will go up in value. Besides it was your grandfathers. Good luck.

 

[ArkieBassMan]

Wow. This is a tough one. When money and family intertwine, the result often isn't good. I have seen families literally torn apart over a small amount of money and/or a few measly possessions. That is very sad and I will never understand how that can and does happen.

As for what I would personally do, it would come down to the sentimental value of the coins to me and how close I was with my mother and brother. If the coins hold absolutely no sentimental value to you, and you value your relationship with your mother and/or brother, then I probably would stay as far away from this situation as possible. I don't see much of anything good that can come from it. You stated that over 30 years ago, for whatever reason, your grandfather gave a collection (some of which apparently belonged to your mother) to your brother and that your mother still isn't happy about it. Regardless of why it happened, that was between them.

If you choose to go after the collection, then I agree with some of the earlier posts. Get estimates from coin/pawn shops and offer to beat their price. If the best offer is nowhere near the $3K that your brother is asking, he might decide not to sell, which might be the best thing that could happen!

Should you end up with the collection, you might even consider giving the silver dollars back to your mother. I certainly don't know (or even want to know) why your grandfather would give her coins to someone else. There may have been something going on there that you don't even know about. I certainly don't know (or again want to know as its absolutely none of my business) your family situation, but it would be a very nice gesture on your part IMO.

Hope everything works out. Good luck!

 

[rileyboy]

Coinfinder,
I think everyone gave you some good advice here!
Good luck with the situation and let us know how you
make out.
rileyboy

 

[how u do n]

Here is a thought.
How about buying them and giving them back to your mom
for her birthday.
She would love it.
Just a thought gl
Dan

 

[mrbelvetron]

Here is a thought.
How about buying them and giving them back to your mom
for her birthday.
She would love it.
Just a thought gl
Dan

That's what I was about to suggest. Years ago my mother had been promised all of her grandmothers FiestaWare but several Christmases ago her step-mother gave them all to my mom's step-sister (step-mother's daughter). My mom doesn't let on but I know she is still torqued over that.

Plus you would probably inherit them from your mom anyway.

Do the coin shop offer rounds and then by them for your mom.

 

[sneak]

Here is a thought.
How about buying them and giving them back to your mom
for her birthday.
She would love it.
Just a thought gl
Dan

Here's the answer!

 

[JD-GA]

Couple pawn shops and gold buying stores should bring him back down to earth. Then tell him the store is gonna 1099 him due to obamas health care plan and he will have to pay taxes on the sale if he doesnt have receipts. That should motivate him to hook his brother up.