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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
 Posted - 07/26/2009 : 21:14:08
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I went to a flea market today and there was a guy with an assortment of coins. I found a Morgan in the mix which was a date that I don't think I have in my collection. The guy was asking $17, so I asked him if his prices were firm. He said "no, everything is negotiable" so I offered him $15 for it. He got kind of upset and "no, I can take this to a dealer and get more for it just for melt value". It took everything in my power not to laugh at him since the silver content translates to about $10.72 per silver dollar right now. I had the same thing happen at a coin auction two years ago, so I wonder if it was the same guy. 
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My hobby: collecting real money 1 copper cent or nickel at a time.
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 07/26/2009 : 21:20:52
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LOL....
He probably actually believed what he was saying.... |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 07/26/2009 : 21:33:54
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| you need to find out who his dealer is and sell him some junk. |
You don't have to be the BEST you just have to be.......SLICK
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 07/26/2009 : 21:34:24
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| For a common date morgan, dealer basically offer 13bucks. If he doesn't have too many he might not buy them. Plus his coins might not be real. |
Trolling is an art. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/26/2009 : 22:03:24
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quote:
Originally posted by Neckro
For a common date morgan, dealer basically offer 13bucks. If he doesn't have too many he might not buy them. Plus his coins might not be real.
That's exactly what I told him after telling him that the silver content wasn't what he thought. He mumbled something and I could tell he was getting frustrated because he was trying to argue with someone more knowledgable on the subject. So I walked away at that point, and my g/f was with me and laughed because she knows I read up and study this stuff every day. Oh well... |
My hobby: collecting real money 1 copper cent or nickel at a time.
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 07/26/2009 : 22:18:29
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| yeah flea market people are like that! i went to one saturday and there was an older gentleman there was trying to sell me stuff for what i thought was outrageous. he even would break out the redbook on me and i would just tell him it did not mean anything to me.it was fun. he was selling well circulated half dollars for 8 dollars a piece. I tried to get him to sell me some silver eagles for 15 but he wouldn't. i guess its like slickeast said we all have tight wallets around here |
Inquiring minds want to know |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/26/2009 : 22:30:17
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quote:
Originally posted by daviscfad
yeah flea market people are like that! i went to one saturday and there was an older gentleman there was trying to sell me stuff for what i thought was outrageous. he even would break out the redbook on me and i would just tell him it did not mean anything to me.it was fun. he was selling well circulated half dollars for 8 dollars a piece. I tried to get him to sell me some silver eagles for 15 but he wouldn't. i guess its like slickeast said we all have tight wallets around here
Ha ha...yeah maybe we are all looking for deals, but I didn't think $15 for a common date Morgan in less than AU condition was lowballing him by any means. I would have paid $16 (met him halfway) on it if he had counter offered instead of getting defensive but he went on his little rant, and I walked away.
This same guy had some similar circulated coins priced like you saw. It's hard to justify buying circulated half dollars at $8/each if you can get them at $5-$5.50 each here. Maybe next time will be better. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 07/26/2009 : 22:54:24
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| Our Flea Market was forced to close. Since they added Security guards, the illegals stopped showing up thinking they where ICE agents. So 70% of the merchants and costumers vanished. |
Trolling is an art. |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 07/26/2009 : 22:56:06
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| i mean before i knew anything about melt value and stuff i would have paid those prices but when you receive knowledge its only dumb to waste your money on something that you might or might not get it back on if you needed it |
Inquiring minds want to know |
Edited by - daviscfad on 07/26/2009 22:57:17 |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/26/2009 : 23:00:18
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quote:
Originally posted by daviscfad
i mean before i knew anything about melt value and stuff i would have paid those prices but when you receive knowledge its only dumb to waste your money on something that you might or might not get it back on if you needed it
Same here. I would have been like "ooh, it's an old coin, it's silver, and it's only $8!" and then bought it. Now I know better.  |
My hobby: collecting real money 1 copper cent or nickel at a time.
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 07/26/2009 : 23:04:37
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| that guy did have a trade dollar he said he would sell for 90 but i dont know much about them and i told him that. He was like you can spot a fake a mile away i told him i dont know about that |
Inquiring minds want to know |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/26/2009 : 23:27:14
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quote:
Originally posted by daviscfad
that guy did have a trade dollar he said he would sell for 90 but i dont know much about them and i told him that. He was like you can spot a fake a mile away i told him i dont know about that
I stay away from Trade Dollars now thanks to some of the things I learned at CCF. There are some really good fakes out there, that can fool even the most experienced dealers. I love those coins, and would only consider buying one that was certified by PCGS or NGC. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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redneck
1000+ Penny Miser Member
1273 Posts |
Posted - 07/26/2009 : 23:45:28
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Morgans usually bring a $1-$2 premium above Peace dollars.
Just like Wheats bring 2cents more than later coppers.
I know they have the same amount of silver in them but it is just
like the Wheats. They're older and people don't see them as often anymore so they're supposedly worth more.
You don't know what he had into it, and you decided it wasn't worth it to you,so you both did the right thing.
I think in the end though, when you look back, you'll end up kicking yourself in the ass over spending a extra dollar or two when you had the chance.
Remember, only one has real value. (FRN as compared to Silver)
Pretty soon FRN's will be virtually worthless...
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/27/2009 : 00:26:30
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quote:
Originally posted by redneck
Morgans usually bring a $1-$2 premium above Peace dollars.
Just like Wheats bring 2cents more than later coppers.
I know they have the same amount of silver in them but it is just
like the Wheats. They're older and people don't see them as often anymore so they're supposedly worth more.
You don't know what he had into it, and you decided it wasn't worth it to you,so you both did the right thing.
I think in the end though, when you look back, you'll end up kicking yourself in the ass over spending a extra dollar or two when you had the chance.
Remember, only one has real value. (FRN as compared to Silver)
Pretty soon FRN's will be virtually worthless...
>
Nah, I can get all the common Morgan and Peace Dollars from 3 main dealers here for $13 to $15/each and in better shape. So far, supply of them has not been an issue between these 3 dealers.
And I don't think Morgans and Peace dollars give you the best bang for your buck when investing in silver. I buy them because I like them and collect them, but for raw silver investment purposes they are on the low end of my priority list.
I see what you're saying about the direction FRN's are going, and I am not going to disagree, but this purchase or lack of it was from a collecting standpoint on my end, but he tried to turn it into a bullion related investment with his response. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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cyberdan
Penny Collector Member
USA
289 Posts |
Posted - 07/28/2009 : 18:30:27
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quote:
Originally posted by Neckro
Since they added Security guards, the illegals stopped showing up thinking they where ICE agents.
The flea markets I go to have security guards too. I didn't hurt business, they are illegal too  |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 08/04/2009 : 08:20:47
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| Would it be a good deal to get ugly looking morgans and peace dollars for $11 a piece? I have a friend that would possibly sell them at melt. But I don't want to rip them off. I'm not a big dollar coin collector but my friend doesn't collect at all. |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 08/04/2009 : 08:40:42
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quote:
Originally posted by JobIII
Would it be a good deal to get ugly looking morgans and peace dollars for $11 a piece? I have a friend that would possibly sell them at melt. But I don't want to rip them off. I'm not a big dollar coin collector but my friend doesn't collect at all.
Right now that would be a decent deal as melt is $11.0371 per Morgan and Peace dollar. Of course that value is based on no wear, so you would pay a little over melt for them, but you may luck out and find a semi-key or key date in the lot that is worth a little more. I would see just how bad these are though and adjust your buy price accordingly. Local coin shops here pay no more than $12 for VG+ Morgans from 1878-1904, and less for Peace Dollars and 1921 Morgans. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 08/04/2009 : 08:53:00
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I'll offer $25 or something and go from there. I know nothing about the key dates, don't know where the mint marks are, so this is really just a random buy of convenience.
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Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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Melt value of Morgan silver dollars
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