I need some advice on a purchase...

[DrDetector]

Here's the story:

The guy at the local antiques shop has a box of nickels from the Federal Reserve that he says is from the 1950s or 1960s. There is no date on the box, but it is sealed and there is also a metal ring around it which has not been cut. I don't doubt the fact that it is original. However, there is no date on the box. He does not know what year exactly it is from, but says it has to be from the 50s or 60s. He claims that they are all brand new, uncirculated nickels because they came from the Federal Reserve. This part I don't know about as couldn't they be reissued nickels from the Fed? Anyway, he is asking $150 for the box. If I knew they were reissued circulated nickels I would be all about it, as I'm sure you'd get a good amount of Buffaloes and maybe even a V or two. However I don't want to get stuck with 50 rolls of 1964 nickels. So....what do you all think? Should I take a risk and buy it?

 

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[Codes]

Tell him you'll buy it for $110. If he says no, tell him to stick his mystery box of nickels somewhere else.

 

[cyberdan]

Anyway, he is asking $150 for the box.

Is this your standard $100 box of nickels? If so tell him that is a bit steep cause right now I could go out and pull nickels from that era from any box. Try and get him down to $125 that is a 25% profit. Once you get the box open you will know where you stand. Only open one roll to get a feel for the rest.

Is there any printing on the box?

Take a pic of the box and post here. You might be able to get partners to help with the cost and then divide the loot.

I may be willing to go in for 10 rolls (at cost + priority mail) but not at $3 each.

 

[jewelerdave]

Go pick it up, I will send you the $150 and send it too me. I will open it for ya!

Otherwise the barter method is good.

Also look at it this way, CRH is gambling but you almost never lose! And almost always win.
Looking at your stats you have had enough wins to justify the risk of that loss.

Worse case you can ebay fed rolls of X year never opened nickels there could be errors also.

 

[DrDetector]

True, I thought about the worst case scenario would be I have a BU box of like 1956-1964 nickels.

As far as what it looks like...the cardboard is somewhat deteriorated as if it was stored in a damp basement or something, it is binded with a metal binding once long ways and once short ways. It has some stamps on it from the Federal Reserve but evidently no date stamp. The seller claims that 'because they are from the Federal Reserve they are uncirculated.' I asked if they might be reissued circulated nickels and he said that the Fed. Res. didn't reissue nickels. Needless to say he's not a coin/currency dealer...but he said his father collected coins and had that box since the 50s or 60s. This gentleman is probably around 70 years old himself.

I thought about taking a picture of it with my camera phone but I felt rude since he was right there plus it was behind a display case and I doubt it would have come out. I could probably just buy it and resell it on Ebay for $200 and it would most likely sell. But I'm really curious about it!

 

[Diamond Spike]

Bargain but buy it definately !!!!!

 

[Silver Stripe]

Can't win if you don't PLAY. Its worth the gamble. How long has he had it for sale? I don't like people trying to dicker with ME over price but worth a shot- I wouldn't offer less than $125 though as he can open it himself and cash it in and get $100, you probly won't get it for less than the $150.
Last time I got bargained with was for work- I said $200, builder said $100, I said $300, he said you went the wrong way, I said no you went the wrong way and insulted ME. OK $200 he says, NO we're already at $300 did you want to make it 4? Thas just ME though. HH Mark
BTW maybe it was an old box when they got it in the 50's and its full of Uncirculated War Nicks, not likely but ya never know.

 

[snappy]

what size of a box is it? $50 or $100?

 

[VERMONTPACKRAT]

If the box has had a little improper storage you may be able to pull a few nicely toned pieces out. I may be interested in a few rolls myself....

VPR

 

[DrDetector]

what size of a box is it? $50 or $100?

It's a $100 face value box. I think you have all pretty much convinced me I should get this. Maybe I'll go in and offer him $130. I'll post after I go and buy it.

 

[AFModell]

I vote to buy it. Id purchase a few of your mystery rolls if you want to sell a few too!

 

[vegasmtl]

Who knows what could be in there?? That is half the fun for me, the mystery!
Good Luck, and post it!!!

HH
vegasmtl