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IdahoCopper
Penny Pincher Member
125 Posts |
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Heartkill
Penny Sorter Member
USA
91 Posts |
Posted - 03/12/2010 : 09:12:56
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| Last weekend I got two $5 face rolls of Mercury and Roosevelt dimes for $75 at an estate auction. I usually don't buy coins at them, as they tend too go pretty high. I think I did good though. |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 03/12/2010 : 09:18:55
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Yesterday i bought:
(2) 1972 canadian silver dollar "last voyageur" coins in black leather cases - $4
(4) war nickels - $0.40
(14) silver dimes - 8x face
(1) 1963 P mint case all included with nickel and dime - $1
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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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Mcprice302
Penny Collector Member
USA
404 Posts |
 Posted - 03/12/2010 : 09:19:41
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You must be logged in to see this link.
Not a good story, but a story none the less. I'm going to one again this Sunday put on by the same people. I doubt there will be any deals but I'll let you know.
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 03/12/2010 : 23:25:21
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It wasen't an estate auction but rather a collectors auction.
There were 2 auctions going on at once in the same bulding. 1 had all the collector stuff and 1 had all the coins. There was about 75 morgans, some misc junk, and 4 bags, that weren't labled, of 90% (2 halves, 1 dime, 1 quarter) in the coin auction room.
Well I always arrive about an hr or 2 earlier than the auction begins so I sat there and counted out the bags. There was a couple clad thrown in the bags but I got a "rough" but very close guess to the total in each bag.
I ended up getting about $350 face for about 45% of spot! Most of the people in the "coin room auction" were interested in the morgans and the rest either got there to late or didn't care enough to count out the bags. |
Copper Penny Investing
www.portlandmint.com |
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Mcprice302
Penny Collector Member
USA
404 Posts |
Posted - 03/15/2010 : 08:09:10
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Well, I went to the sale yesterday. This was the first time I seen that people were actually using their heads (mostly) when bidding. There weren't any coins there other than 6 gold-plated JFK halves which sold for $20 I think. I need to start saving these! There were also 2 proof sets, 1976 and 1973, that sold for $25 each. Needless to say, I wasn't interested.
No, I was going for the guns and there were 2 junk cars I was hoping to make a quick flip on. I let the cars go as the price wasn't right. But I did win 2 gun lots, a nickel finish Colt Lawman MK3 4in. barrel .357 for $220, and a very nice 1964 Russian SKS with leupold scope, muzzle brake, sling and bayonet for $190. Now, heres my luck. I'm filling out my background check paperwork and get it turned in. There were already 3 or 4 others that came back as delayed and the guns were put back up for auction. I remembered the last gun I bought and the gov. delayed it for 2 days before passing it, so I cant hardly calm down thinking about how these 2 might get away. Sure as hell, I'm delayed. They needed to have aproval that day in order to sell them to me, and it just wasn't going to happen. They went back up for sale, and I left, mad as hell. Thanks alot Gov.!
Note: I am not a felon and I own several firearms. My request did not come back as "denied" but rather "delayed". I hear that some even get delayed just at random, so I couldn't tell you what the issue was. Every other time I've always received an immediate approval and I left with my gun that day. I'm still pssst off. |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 03/15/2010 : 11:54:03
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MC,
when you say the 1976 and 1973 sold for $25 each. Do you mean you saw someone purchase the coins or rather thats what the asking price was?
I don't usually go to estate sales, but on saturday i did go, and the items seemed to be all over-priced for used stuff. Perhaps that's typical of these types of sales.
sorry to hear you couldn't buy what you had intended to buy.
~JobIII |
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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Mcprice302
Penny Collector Member
USA
404 Posts |
Posted - 03/15/2010 : 13:17:14
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Job, yeah the man payed $25 a piece for each proof set. The bid started at $5 on each and I stayed in until $15 but two others kept going around one more time, one at $20, then the man who won (or lost depending on how you look at it in reality) raised his card when the auctioneer was asking for $25 and nobody else wanted them at $30. Same exact thing on the 2nd proof set. It just hit me as well, a roll of steel cents sold for $35 too. I cant believe I forgot about that.
I'm seriously thinking about getting some Morgans and Peace dollars from someone on here and then consigning them to their auction. Most everything sold there is rediculously over retail, and when the occasional lot is about to go for a good deal, the auctioneer will kinda stop and say such and such to hype up the crowd. It's almost as much fun laughing at all the ignorance being displayed than it is to actually get a deal sometimes. |
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chris6084
Penny Collector Member
303 Posts |
Posted - 03/15/2010 : 21:34:01
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| I have been to many estate sales. Most of them are seriously overpriced. The last one I was at was selling old rusted folding chairs for $25 each and nearly used rolls of christmas wrapping paper for $2. They were even selling half empty bottles of condiments out of the fridge for $1 plus. I walked out pretty quick on that sale. I have never seen coins at an estate sale. I figured those went directly to dealers or auctions elsewhere. |
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 03/15/2010 : 23:03:35
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I use auctionzip.com every week to see what kind of local auction there are. The search function is pretty nice in that the keywords pick up all kinds of stuff and you can limit the range of auctions by distance from a certain zip code... I seem to find a local (within 30 miles) coin auction every week.
I've been to quite a few. The same faces keep showing up, too. I've noticed that the majority of the outrageous prices come from new or infrequent bidders. At one large coin auction, two young men who must have recently come into some money were buying up nearly every some-what scarce or high grade Morgan. as well as any gold that came on the block. Their winning bids were typically 10 to 20% above RedBook value for the Morgans and about $250 over spot for the gold.
I was sitting relatively close to them and it was obvious that they didn't know or care what they were doing. Common comments were:
"How much was that?"
"Do you have that one, yet?"
"You won't see that again, you better get it"
"We spent a lot so far"
"What is the total so far?"
"Do I have enough for that?"
"Oh, what the heck... "$XXX.XX"
It was very discouraging auction to be a part of. I got very few deals, but I am also commonly the guy that knows where spot is and stops bidding at 10% below greysheet.
These types of auctions do get balanced with the GREAT auctions... I've been fortunate to have gotten some very nice deals in the past.
Good luck to anyone going. And to anyone that hasn't, I recommend it. Even if you never bid, it's a fun experience when you're interested in the items offered. |
goto the new and improved realcent: http://realcent.org |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 03/16/2010 : 06:55:04
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| Can anyone explain what it's like at an auction before the bidding starts. Can you just walk up to the items that will be sold and inspect them? I've never been to an auction in person online online ones. I'd like to know what to expect, since i'm pretty much scourging auctionzip for something close by that looks good. |
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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Mcprice302
Penny Collector Member
USA
404 Posts |
Posted - 03/16/2010 : 08:49:05
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| Every auction I've ever been to had a registration and preview period some hours before the auction starts. This is when they receive your information and issue you a buyers number. Then you may inspect anything you want. This has been the standard for all livestock, equipment, and estate auctions I've been to. I've never been to a coin only auction but I imagine it would be the same way. |
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Mcprice302
Penny Collector Member
USA
404 Posts |
Posted - 03/16/2010 : 08:52:09
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| Oh, and some of the larger estates have previews on the day before. This can be used to an advantage if you see something you are unsure about as it would give you time to come home and look it up online to see what that item is going for. |
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Heartkill
Penny Sorter Member
USA
91 Posts |
Posted - 03/17/2010 : 14:20:20
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| All of the estate auctions I've ever been too, coin or non-coin, have had a preview period. You can physically inspect the coins your interested in, and it really helps out when there is a bag of random silver dimes for example, that you can count them out and figure out a rough estimate of their value. I always print off the latest coinflation price sheet too so I watch when I come close to spot price. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 03/17/2010 : 15:05:24
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couple of questions
1. what is the difference between an estate sale and a garage sale? around here a lot of people call their garage sales estate sales becasue they think it sounds better. where do you find these legit estate sales?
2. how do you know in advance they'll have coins? its a lot of work going to garage sales in the hope they'll have coins. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 03/17/2010 : 15:37:12
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quote:
Originally posted by Lemon Thrower
couple of questions
1. what is the difference between an estate sale and a garage sale? around here a lot of people call their garage sales estate sales becasue they think it sounds better. where do you find these legit estate sales?
2. how do you know in advance they'll have coins? its a lot of work going to garage sales in the hope they'll have coins.
An estate sale is usually priced stuff, if you want it, buy it. Yard sale with a fancier name. They might truly be a real estate sale where they are selling off everything in someones house.
Going to yard sales looking for coins is probably not the best way to spend a Saturday morning. You may luck up and find some, but don't count on it. There are other things to be found at yard sales that you might want and you can get it cheap. Some people buy yard sell stuff to resell. E-Bay has made this even easier. Yard sales are easy to haggle at too. Most people just want the stuff gone, and will usually take some lowball offers. |
You don't have to be the BEST you just have to be.......SLICK
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 03/18/2010 : 21:36:02
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ugh... went to an auction tonight and didn't buy a thing! 1914-D Wheat and 1916-D Merc both looked fake. 90% going for 13x face minimum, and as high as 15x. Scrap gold jewelry going for over spot. Sterling bars going for spot+
There was not 1 single deal the whole time. But, I did leave before the Canadian silver and a few other 90% lots went up for bid. 3.5 hours of my time, $16 in gas, $10 in food, and nothing to show for it:
This was the auction listing:
You must be logged in to see this link.
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goto the new and improved realcent: http://realcent.org |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 03/18/2010 : 22:28:45
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| I had the same experience last week end. I went to a coin auction, and the prices people were paying was crazy. Rolls of common date wheats going for $8.00 to $10.00 per roll. Common date Walkers bringing $10.00. Morgans going for $30.00 to $40.00 dollars that I can buy at my dealer for $20.00. I don't know what makes people lose the mind when they go to an auction. It was a wasted day for me too, I didn't come home with anything either. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/18/2010 : 22:31:48
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Maybe the approach should be to consign items to these auctions. Even after fees the net should be a lot better than eBay.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 03/19/2010 : 00:52:59
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quote:
Originally posted by HoardCopperByTheTon
Maybe the approach should be to consign items to these auctions. Even after fees the net should be a lot better than eBay.
I have thought of this idea before. I thought about contacting auctioneers in my area and telling them that if they have small household or estate auction where they could use a few more items on the auction that I could bring in 40 - 50 lots of coins. It should be a win win situation. It wouldn't compete with the items on the auction and coins always bring in a lot of bidders with would help the other items on the auction sell better. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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Estate Sales??
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