Please adivise. Posible trade ahead. Granpa old silver stach.

[Gingymann]

Hi, I'm new to this forum. Being lurking around for quite a while. Will start to participate more often from now on, but first I wanted to hear your opinion on a possible opportunity I have to buy a few silver coins. I'm mostly a coin roll hunter, but I do not know if I should let this opportunity pass by. Here is the deal:

$125 for the following coins:

1.) One Morgan dollar - 1900
2.) One Peace dollar - 1922
3.) Seven (7) silver quarters - date 1944, 1952, 1957, 1961, 1963, 1964 and 1964
4.) One Mercury dime - 1913
5.) Two Kennedy 90% - 1964
6.) Three Kennedy 40% - 1965, 1965 and 1967

The seller received these coins just recently after his grandfather dies. He does not know anything about the coins, but he wants $125 so he can buy a music stereo for his car. I saw a picture and they are in circulated conditions. They are not protected at all. Just like granpa would store them. I dont know the mint marks, and I'm afraid to ask him so that he doesnt go looking for their value online.

Judging by these facts alone, which are the ones present/available to me at the moment, would you say it is worth it for me
If so, I would have to drive out of town for like 2 hours.
All those silver coins for $125.00.
Please comment, and glad to finally be joining you guys and gals here.

 

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[bigscores]

Stereo for his car? Haha, what a tool.

You're basically paying melt for them. Slightly over, maybe. I'd offer him $100.

 

[Mrs.CRH]

Can he not ship them to you? I don't think I'd drive 2 hours away for something you can buy online or at your LCS

 

[bigscores]

Hm, I didn't see/factor in the 2 hour drive. Meet halfway, I'd offer $100. Make me go all the way there, I'd offer $75.

 

[usernameerror]

At $30.44 spot price, those coins have a melt value of $123.35. In my opinion it would not be worth it to drive 2 hours away and pay for more than spot. Mrs. CRH is correct. Unless there are any rare key dates, you can basically get the same thing at your local coin shop without the 2 hours worth of gas.

 

[Gingymann]

Stereo for his car? Haha, what a tool.

You're basically paying melt for them. Slightly over, maybe. I'd offer him $100.

I thought the same thing when he told me that. That is why I stated it. He is such a tool. lol
He will not take any less than $125. Should I pass on it

Can he not ship them to you? I don't think I'd drive 2 hours away for something you can buy online or at your LCS

I just dont trust the person that much. I do not want to take that type of risk. The coins might get lost, he might not send them and lie, etc.

So far, judging by the replies, it seems like a bad deal to me.
I though buying at spot was the way to go. Will I get the same deals at a LCS There is going to be a numismatic convention soon in town. Do you think I can get this prices or better ones Like I said, I usually do not buy coins. I just coin roll hunt, but I wanted to invest a few money on coins and get a few silver dollars I cannot get crh.

 

[ArkieBassMan]

Melt value as I type this is ~$123.37. The mintmarks on these particular coins really won't effect the value with the exception of the Morgan and the 1913 dime (which can't be a Mercury. Either your date is wrong, or its a Barber dime). Should the Morgan be the O/CC variety (very doubtful) then its probably about a $60-$100 coin. If the dime is a 1913-S, then its a $25+ coin. Both are unlikely.

I should also add that silver dollars commonly sell for a few dollars over melt per coin. This is no bargain, but it certainly isn't horribly overpriced either. It all comes down to what you think the price of silver will be in the future. If you think silver is going up, then buying all you can at around melt price makes a lot of sense. If you think silver is going down, then it makes no sense to pay melt price for something that you expect to decrease in value.

I couldn't fault you for whatever you decide on this deal. As I said, it isn't a bad price, but it also isn't one of those deals that would "haunt" me if I let it slip away.

 

[usandthem]

Stereo for his car? Haha, what a tool.

You're basically paying melt for them. Slightly over, maybe. I'd offer him $100.

I believe I'd listen to bigscores.

 

[crhstreetwalker]

I don't believe mercury dimes were minted in 1913, do you mean a barber dime? Are you trying to buy this silver to make money on it, or for your own benefit to own silver? The only key date for those years is a 1913S barber dime, which would only fetch about $40 in worn, G04 condition. I wouldn't do it unless you can buy it for less than $100.

 

[Mrs.CRH]

Paying spot for them is fine, in my opinion, from a random person because if they are legit & find more coins they may think of you again if you are paying them good money. I understand not wanting to give your address out for shipping but it would definitely not be worth the 2 hour drive, unless there are some key dates in there that would make up for the gas money. I'm not sure about the difference in price you can find between the LCS & a coin convention as I've never actually been to either. Silver is bound to go up some day & it doesn't hurt to buy a few silver dollar coins even if it's at spot or just over spot because you will eventually make money on it, just not as much as if you would've found them at face of course. My husband has purchased Morgans & Peace dollars for our collection from the flea market. You just have to do your homework & go to a few different people until you find one that sells at a reasonable price & is trustworthy. Build a good relationship with them & give them your business & they will be of benefit to you in the long run.

 

[bigscores]

Paying spot for them is fine, in my opinion, from a random person because if they are legit & find more coins they may think of you again if you are paying them good money. I understand not wanting to give your address out for shipping but it would definitely not be worth the 2 hour drive, unless there are some key dates in there that would make up for the gas money. I'm not sure about the difference in price you can find between the LCS & a coin convention as I've never actually been to either. Silver is bound to go up some day & it doesn't hurt to buy a few silver dollar coins even if it's at spot or just over spot because you will eventually make money on it, just not as much as if you would've found them at face of course. My husband has purchased Morgans & Peace dollars for our collection from the flea market. You just have to do your homework & go to a few different people until you find one that sells at a reasonable price & is trustworthy. Build a good relationship with them & give them your business & they will be of benefit to you in the long run.

Also some good points in here... If you want to buy silver with any regularity, find a good, trustworthy dealer and buy from them and develop a relationship. My regular dealer lets me pick through his junk silver to buy what I want. I pay a bit higher than most people, but it's well worth it because I get the stuff that's worth more than melt. Also, whenever they get items of numismatic value in, they're offered to me before they even go on display, lol. I buy all their weird stuff for cheap, and they love me for it.

 

[Gingymann]

The dime is clearly a Mercury dime. I saw it in the picture, but he gave me a wrong date in paper. I just copied it here directly from the paper and I failed to notice it. Maybe I can use that error from his part to renegociate the price again. Thanks for pointing the obvious out. I really missed it. I will tell him that that error just dropped the price like $20.00 down. He does not know about coins, lets see if he buys it.

 

[leprechaun]

Why drive two hours to maybe brake even, Your newbeniss is showing.

 

[smitty58d]

I wouldnt drive out of my way for melt value and for that small amount of silver. Put in a craigslist add and say you buy coins. Probably get coins below spot this way. I always see people buying 90% halves for 7-9 bucks. Better to make money and not drive in my opinion.