NEED GROUP'S ADVICE--PLEASE HELP!

NEED GROUP'S ADVICE--PLEASE HELP!

Post by IWCF » Thu, 01 Jul 2004 03:13:05



I'm relatively new to coin collecting but already have a decent-sized
collection.  I've recently been offered 100 U.S. Silver Dollars (from about
1883 through 1935) of varying condition (it really runs the gamut) for $950.
So $9.50 a coin.  Worth it?  What do you all think?

Let me know!  Thanks.

-Jeff

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by J. A. M » Thu, 01 Jul 2004 04:58:57


Quote:

> I'm relatively new to coin collecting but already have a decent-sized
> collection.  I've recently been offered 100 U.S. Silver Dollars (from about
> 1883 through 1935) of varying condition (it really runs the gamut) for $950.
> So $9.50 a coin.  Worth it?  What do you all think?

> Let me know!  Thanks.

> -Jeff


I wouldn't pay more than $5 a coin unless I could examine them first.

JAM

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by Stujo » Thu, 01 Jul 2004 05:59:25


J. A. M. spoke thusly...

Quote:

> > I'm relatively new to coin collecting but already have a decent-sized
> > collection.  I've recently been offered 100 U.S. Silver Dollars (from about
> > 1883 through 1935) of varying condition (it really runs the gamut) for $950.
> > So $9.50 a coin.  Worth it?  What do you all think?

> > Let me know!  Thanks.

> > -Jeff

> I wouldn't pay more than $5 a coin unless I could examine them first.

Where are you finding Morgans and Peace dollars for $5 each? Only in
bulk or do you find them singly in junk boxes for that too?

--
Stujoe

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by Gary Loveles » Thu, 01 Jul 2004 06:54:24




Quote:
>J. A. M. spoke thusly...

>> > I'm relatively new to coin collecting but already have a decent-sized
>> > collection.  I've recently been offered 100 U.S. Silver Dollars (from about
>> > 1883 through 1935) of varying condition (it really runs the gamut) for $950.
>> > So $9.50 a coin.  Worth it?  What do you all think?

>> > Let me know!  Thanks.

>> > -Jeff

>> I wouldn't pay more than $5 a coin unless I could examine them first.

>Where are you finding Morgans and Peace dollars for $5 each? Only in
>bulk or do you find them singly in junk boxes for that too?

Sounds like he is only willing to pay melt for them, then hope he hits
the jackpot............

Gary

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by Stujo » Thu, 01 Jul 2004 07:01:37


Gary Loveless spoke thusly...

Quote:


> >J. A. M. spoke thusly...

> >> > I'm relatively new to coin collecting but already have a decent-sized
> >> > collection.  I've recently been offered 100 U.S. Silver Dollars (from about
> >> > 1883 through 1935) of varying condition (it really runs the gamut) for $950.
> >> > So $9.50 a coin.  Worth it?  What do you all think?

> >> > Let me know!  Thanks.

> >> > -Jeff

> >> I wouldn't pay more than $5 a coin unless I could examine them first.

> >Where are you finding Morgans and Peace dollars for $5 each? Only in
> >bulk or do you find them singly in junk boxes for that too?

> Sounds like he is only willing to pay melt for them, then hope he hits
> the jackpot............

Could be. Maybe that is how you get them that cheap...in bulk. I don't
remember finding them in junk boxes for much less that the $9 the
original poster was talking about...but that is for single coins and not
in bulk.

--
Stujoe

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by Ken Bar » Thu, 01 Jul 2004 07:32:58



Quote:

> I'm relatively new to coin collecting but already have a decent-sized
> collection.  I've recently been offered 100 U.S. Silver Dollars (from about
> 1883 through 1935) of varying condition (it really runs the gamut) for
> $950.
> So $9.50 a coin.  Worth it?  What do you all think?

> Let me know!  Thanks.

Not enough information to tell ... I could easily put together three
such deals, one of which I'd make a hunnertbux on, one of which I'd
break even on, and one of which I'd lose a hunnertbux on.

If it's mostly 1921 Morgans and 1922/1923 Peaces in Good to Fine,
I'd pass.  If it's mostly pre-1921 Morgans and post-1923 Peaces
in Fine or better, I'd jump all over it.  If it's somewhere in
between, I'd probably want to know some more details first ...

--

P. O. Box 32541                 website:  http://www.kenbarr.com
San Jose, CA 95152          (souvenir cards, MPC, Hickey Bros tokens)
408-272-3247         Next show:  Modesto SCCC show 07/10 (tent., no table)
 ADVANCED NOTICE:  ANA World's Fair of Money, San Jose, CA 7/27-31/2005

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by IWCF » Thu, 01 Jul 2004 10:00:17


Mr. Barr,

Thank you so much!  Your advice was very helpful.  I'll definitely take a
survey of the dates and conditions before I buy, but I just wanted the opinions
of the group.  Thanks again.

-Jeff

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by /\\/\\ar » Thu, 01 Jul 2004 21:27:58


Yeah right, and I also have a bridge to sell you.  1000 coin bags of Morgans
are currently selling for 10,000 on coinnet between dealers.  9.50 is a good
price.  I would; however, look at the dates to see what was there first.
1921 Morgans and 1922/23 Peace dollars are not worth it IMO.

/\/\ark



Quote:

> > I'm relatively new to coin collecting but already have a decent-sized
> > collection.  I've recently been offered 100 U.S. Silver Dollars (from
about
> > 1883 through 1935) of varying condition (it really runs the gamut) for
$950.
> > So $9.50 a coin.  Worth it?  What do you all think?

> > Let me know!  Thanks.

> > -Jeff

> I wouldn't pay more than $5 a coin unless I could examine them first.

> JAM

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by J. A. M » Thu, 01 Jul 2004 22:07:53


Quote:

> Yeah right, and I also have a bridge to sell you.  1000 coin bags of Morgans
> are currently selling for 10,000 on coinnet between dealers.  9.50 is a good
> price.  I would; however, look at the dates to see what was there first.
> 1921 Morgans and 1922/23 Peace dollars are not worth it IMO.

Yep, that's about right.
Quote:

> /\/\ark




> > > I'm relatively new to coin collecting but already have a decent-sized
> > > collection.  I've recently been offered 100 U.S. Silver Dollars (from
> about
> > > 1883 through 1935) of varying condition (it really runs the gamut) for
> $950.
> > > So $9.50 a coin.  Worth it?  What do you all think?

> > > Let me know!  Thanks.

> > > -Jeff

> > I wouldn't pay more than $5 a coin unless I could examine them first.

> > JAM

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by Dale Hallmar » Thu, 01 Jul 2004 22:13:30



Quote:
> Gary Loveless spoke thusly...


> > >J. A. M. spoke thusly...

> > >> > I'm relatively new to coin collecting but already have a
decent-sized
> > >> > collection.  I've recently been offered 100 U.S. Silver Dollars
(from about
> > >> > 1883 through 1935) of varying condition (it really runs the gamut)
for $950.
> > >> > So $9.50 a coin.  Worth it?  What do you all think?

> > >> > Let me know!  Thanks.

> > >> > -Jeff

> > >> I wouldn't pay more than $5 a coin unless I could examine them first.

> > >Where are you finding Morgans and Peace dollars for $5 each? Only in
> > >bulk or do you find them singly in junk boxes for that too?

> > Sounds like he is only willing to pay melt for them, then hope he hits
> > the jackpot............

> Could be. Maybe that is how you get them that cheap...in bulk. I don't
> remember finding them in junk boxes for much less that the $9 the
> original poster was talking about...but that is for single coins and not
> in bulk.

> --
> Stujoe

The cheapest I have seen regularly offered in junk boxes is $9 each.
However I did have a dealer at the Amarillo Texas Coin show last year offer
to sell me some from his box at $8 each if I took at least 10 or $7 each if
I took the whole box.
I had already purchased two for trading purposes at $9 and didn't have that
kind
of money (must have been 60-70 in that box at least).

I was saving the rest of my coin money for the guy
down the isle that had a large number of the modern
commemoratives for sale:-)

I had no trouble getting rid of all the rest of my money there.
He was quite happy to take it!

Dale

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by K6AZ » Thu, 01 Jul 2004 22:21:25


Quote:

>Yeah right, and I also have a bridge to sell you.  1000 coin bags of Morgans
>are currently selling for 10,000 on coinnet between dealers.  9.50 is a good
>price.  I would; however, look at the dates to see what was there first.
>1921 Morgans and 1922/23 Peace dollars are not worth it IMO.

Don't pay any attention to JAM. He's a wannabe dealer who wants
to buy stuff at 50% of greysheet bid and sell at ask + 30%.
 --
K6AZ WEB PAGES

http://www.k6az.com/web_pages.htm

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by DOND » Fri, 02 Jul 2004 04:56:11



Quote:

>Don't pay any attention to JAM. He's a wannabe dealer who wants
>to buy stuff at 50% of greysheet bid and sell at ask + 30%.
> --
>K6AZ WEB PAGES

I think buy/sell on 1921s is around $8.50/$9.25 right now.  Pre-21s are a
bargain at $9.50 unless less than VG+.

dondi3

DONDI enterprises.  BUY, SELL, TRADE. RARE COINS & PRECIOUS METALS
Member COINNET, CSNS, ANA, INA, MOON, ILNA.

 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by Bob Peterso » Fri, 02 Jul 2004 20:29:59


sounds a bit pricey for run of the mill circulated silver dollars.


Quote:
> I'm relatively new to coin collecting but already have a decent-sized
> collection.  I've recently been offered 100 U.S. Silver Dollars (from
about
> 1883 through 1935) of varying condition (it really runs the gamut) for
$950.
> So $9.50 a coin.  Worth it?  What do you all think?

> Let me know!  Thanks.

> -Jeff


 
 
 

NEED GROUP'S ADVICE--PLEASE HELP!

Post by Jerry Denn » Fri, 02 Jul 2004 23:11:24


Ken's provided the best response so far.  I would throw in that you get a basic
idea about how to grade (in your particular case, the Red Book should suffice).
 Then separate them by date and mint mark, then rough grade them.  Check the
values on a reputable coin values website.  I prefer:

http://numismedia.com/fmv/prices/mordlr/pricesgd.shtml

and

http://numismedia.com/fmv/prices/peadlr/pricesgd.shtml

To expand on what Dondi recommended, common Morgans in VG-8 are worth roughly
the $9.50; Peace Dollars should grade higher (F-12).

FWIW, at $6 per oz. (high at the moment), each silver dollar would be worth
about $4.64 melt.

I hope you'll come back and update us.

Jerry

Quote:



>> I'm relatively new to coin collecting but already have a decent-sized
>> collection.  I've recently been offered 100 U.S. Silver Dollars (from about
>> 1883 through 1935) of varying condition (it really runs the gamut) for
>> $950.
>> So $9.50 a coin.  Worth it?  What do you all think?

>> Let me know!  Thanks.

>Not enough information to tell ... I could easily put together three
>such deals, one of which I'd make a hunnertbux on, one of which I'd
>break even on, and one of which I'd lose a hunnertbux on.

>If it's mostly 1921 Morgans and 1922/1923 Peaces in Good to Fine,
>I'd pass.  If it's mostly pre-1921 Morgans and post-1923 Peaces
>in Fine or better, I'd jump all over it.  If it's somewhere in
>between, I'd probably want to know some more details first ...

>--

>P. O. Box 32541                 website:  http://www.kenbarr.com
>San Jose, CA 95152          (souvenir cards, MPC, Hickey Bros tokens)
>408-272-3247         Next show:  Modesto SCCC show 07/10 (tent., no table)
> ADVANCED NOTICE:  ANA World's Fair of Money, San Jose, CA 7/27-31/2005