Some advice, please

[apush]

I have a cousin whose father left her (well, according to her), lots of silver and gold coins. She says she has a large safe deposit box full including some Confederate bills. My cousin is in her 60s and her father left his stash to her about 25 years ago. The contents have been in her safe deposit box ever since. I am not sure if it is junk silver, graded coins--no idea. She wants me to look at the coins and give her an idea of what they are worth. Knowing I am no coin expert, but collect, she contacted me. If indeed the lot is mostly junk silver, what would be a fair price to offer? If she has some prizes in the mix, we will head to a reputable dealer.
Thank you for any advice,
Apush

 

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[Rustynailsandscrews]

If your really going to be fair the coins need to be graded.
So let's be honest, you want to screw your cousin and make a killing !!!!!
That's alright because we all need to make a profit!
Well how much of the safe deposit is full ?
Throw the Confederate bills out the window because most are counterfeit.
Give her 2 times the face value on everything in the box and rip her off but be prepared for bad Karma and the judgement you will face when you meet your maker.
Maybe you should help her out instead and look at what she has and I'm sure you will get some coins for your collection.
Just my moral thoughts.

 

[jim4silver]

If your really going to be fair the coins need to be graded.
So let's be honest, you want to screw your cousin and make a killing !!!!!
That's alright because we all need to make a profit!
Well how much of the safe deposit is full ?
Throw the Confederate bills out the window because most are counterfeit.
Give her 2 times the face value on everything in the box and rip her off but be prepared for bad Karma and the judgement you will face when you meet your maker.
Maybe you should help her out instead and look at what she has and I'm sure you will get some coins for your collection.
Just my moral thoughts.

You would send the whole collection in to be graded? Even junk silver?

 

[jim4silver]

I have a cousin whose father left her (well, according to her), lots of silver and gold coins. She says she has a large safe deposit box full including some Confederate bills. My cousin is in her 60s and her father left his stash to her about 25 years ago. The contents have been in her safe deposit box ever since. I am not sure if it is junk silver, graded coins--no idea. She wants me to look at the coins and give her an idea of what they are worth. Knowing I am no coin expert, but collect, she contacted me. If indeed the lot is mostly junk silver, what would be a fair price to offer? If she has some prizes in the mix, we will head to a reputable dealer.
Thank you for any advice,
Apush

Find out what the local coin dealers are offering and offer the same.


Jim

 

[Treasure_Hunter]

Rusty your reply is uncalled for...... He has said nothing about screwing over his cousin. Your post is an attack on apush ......

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[jdsly]

Dont see anything in post that says anything bout ripping his cousin off. Fair price is all i see.

 

[Marchas45]

I don't think Apush intends to buy it "She wants me to look at the coins and give her an idea of what they are worth." Apush get yourself the latest coin book (Red Book) just in case there are some good ones in there. As for the metal content value, 90% Silver have little premiums right now, something like X13-14 face value but that changes daily. As for the Gold, it depends on the coin also and they are also selling way over spot price. So don't be selling at or below spot but Bars are the exception as they usually sell at a little below or above. there are some good web sites that you can use to sell outside of the flea bay. Good luck and I know why your cousin contacted you as you can be trusted. All The Best, Charlie

 

[Treasure_Hunter]

Kemper only charter members can sell here.

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[pong12211]

My best suggestion would go to a coin shop or a coin dealer and see what they say. If at all possible got to two or three different shops and dealers to see how their offers differ and get the best price. Also kudos to you for trying to help your friend out.

 

[bradley1719]

Here is my advice.....

1. Coin dealers - Coin dealers are only good if you are willing to take the time upfront to identify what you already have. They see countless "shoebox collections" coming through the door and frankly, they don't want to deal with it. They can't afford to spend an hour going through the whole collection with a fine toothed comb only to have you turn around and balk at their offer and walk out.
So what most coin dealers do is offer you two options: A) Pay them to do a thorough appraisal of your collection, or B) spend 10 seconds looking at them and offer you a ballpark amount that will more than likely be very low if there are any good coins in the mix. The way they look at it is that 99% of the time, people bringing in collections who don't know anything about coins probably don't have anything good anyway (or they have been cleaned, etc.). So they assume there is nothing good and just give you a figure based on weight or average circulated qualities.
If you want to go to a coin dealer and get a good deal, then you need to go through the whole collection beforehand. Break it all down into good stuff and junk silver. Have things clearly labeled and know what you want to get out of it. Otherwise, you are likely to get burned. Not because coin dealers are crooks. But just because it's the nature of having people bring in piles and piles of useless coins and then having them get upset and walk out when they find out their shoebox collection isn't worth nearly what they thought it was.

2. Buying the coins yourself - There are some questionable posts here about how to work a "deal" for the coins. Yes, we'd all like to get that great deal for our own collections. But frankly, I've never been one to knowingly cheat another person. As for a 50-50 deal, that usually only applies when you both have a stake in the booty. You currently have no stake. The coins are hers. So saying you'll "split" it with her sure seems like stealing to me. What exactly are you brining to the table other than some advice? She'd be better off throwing them in a bucket and taking them to the coin dealer for the low ball offer. She likely wouldn't do any worse than you taking 50% right off the top. She may even do better.

If you care about this person, offer your time for free. Go through the collection and identify what things are worth. Just do your best. Then identify any coins that you personally would like to make an offer on. Offer her a fair value while keeping in mind that the coin dealers have to make a profit so they will offer less than spot. Also keep in mind that the price of silver has been going down for 3 years and isn't likely to rebound any time soon. You could offer her prices based on $16 spot silver today and the price of silver in 2 years could be languishing at below $14 leaving you with a serious loss. Let her know this because it is important.

Good luck.

 

[pronghorn]

My suggestion is this, view the coins and get a general idea, make a list of what is there.
If it is sizeable and enough coins look good, buy the book and do a thorough inventory, it will
be worth the price of the book and your time. 10% finders fee is common on many transactions,
perhaps you can do better and good luck whatever you do.
Make sure you do a accurate count of coins and denominations before you have any appraised,
and do not take them all to a dealer at the same time, just small samples with a list of the rest.
Hypothetical....say your cousin has several St. Gaudens worth a total value of one hundred thousand dollars.
I don't see Apush as being the kind that would ask $50,000 just for finding that out for a cousin.
The 50/50 split is #$%&@ in my mind, I will appraise coins anytime if I get half of their
value when they sell.

 

[NHBandit]

Knowing that you're not out to screw a family member like some of these guys have suggested, I would pick up a redbook and look up any of the coins you think might have value over the scrap value. You will notice that nearly all coins will have a bottom price that is near the Silver value. These are the common ones. Anything that has a higher price warrants a second look. For those you need to be pretty good at judging condition. For those I would use Ebay "completed listings" to get a ballpark idea of real world values. Then make her an offer you are both comfortable with.

 

[apush]

He is a she. And no, I do not plan on cheating out my cousin--nor would I cheat anyone else for that matter. Thanks to everyone that offered sound advice.
Apush

 

[jim4silver]

Kind of funny, it seems whenever we get an influx of posters who don't normally post on this sub-forum (or in the rare instance when drop-in trolls appear) there seems to be much rancor that comes along with them (not referring to Apush). Much like it was everyday on the CRHing forum a few years ago, maybe this "neighborhood" will turn "bad" too as time goes on.

Just my observations.

Jim

 

[Mackaydon]

jim4silver,
While we may differ on the silver issue, I can stand 100% behind you in your comment above.
Don....

 

[FreedomUIC]

Rusty your reply is uncalled for...... He has said nothing about screwing over his cousin. Your post is an attack on apush ......

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Apush is a she and was an active member in the CRH forum for years. I have no clue where these other people came from.

 

[jimmatt_43]

There are reputable dealers online that will give you near spot for silver and gold.Just be careful about selling coins with numismatic value.The red book is a good idea.i don't want to name companies ,but a little research will tell you the value of silver and what you can get for it.

 

[FreedomUIC]

For those of you "New" people who have joined here, perhaps a search of the person you are trying to help might be in order before
posting anything as ludicrous as what I have seen posted on this thread. Mrs. Apush is an outstanding young lady who has contributed
to this forum far beyond what most people have. Charlie knows her, I know her and so do many of the "Old" timers here who used
to CRH $1,000's weekly. She was a contributing member when Rich Hartford was still with us, God Rest His Soul.

Apush, if you want some help with this PM me please. We have conversed over the years and I would be more than happy to
assist in anyway that I can. I have brushed up on my grading skills for the past three years and can usually get it right on, just
requires a good digital pic.

Anyways, you know how to reach me and with Christmas break coming up you have lots of time to help....

 

[Treasure_Hunter]

Well, it's the Holiday Season and we are talking about cousins. It is the season for giving and receiving. ---(removed by mod)

Please keep it on topic...

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[NHBandit]

Kind of funny, it seems whenever we get an influx of posters who don't normally post on this sub-forum (or in the rare instance when drop-in trolls appear) there seems to be much rancor that comes along with them (not referring to Apush). Much like it was everyday on the CRHing forum a few years ago, maybe this "neighborhood" will turn "bad" too as time goes on.

Just my observations.

Jim

What you maybe aren't taking into consideration is that ALOT of us click on the "active topics" button and read a wide variety of the various forums on here. I'm not a diver either but I enjoy the shipwreck forum.