I found a lady selling coins that had been given to her by someone, she didn't know anything about them, most of them were pretty common, but I found one of these amongst the lot
Then I went to the local stamp shop where the guy also dabbles with coins. He mostly sells NZ coins so foreign coins he picks out any he knows are silver and sells the rest for $30 per kilo. I got a kilo bag for my kids to play with, again most of them were pretty common but then I came across one of these
Once in a while I go to this store in Torrance that sells coins (and also stamps and banknotes) and he either gives away "cheap" coins, such as BU Red copper coins from the 1970's, proofs, or coins you'd commonly get as change. Some countries, like Switzerland, he sells by facial value and sometimes he sells lots of coins for really cheap, like a large bag of George V, VI, and uncirculated Elizabeth II nickels for only $3.
Then there's the stamp shop in Costa Mesa I go every month after going to Marukai to buy some delicious curry. 10c per stamp, whether used or unused. There are a lot of unused stamps, although most of them have been hinged. Rare stamps I got from him include a rare second die definitive from Japan in the 1930's, valued at $27. Another was a French Colonial 1c stamp from the 1870's, worth $19.
Best deal ever? On eBay, for $2.75, a 1000 Cash coin worth $2000. And just recently a Hupeh 10 Cent sold under melt value.
Kenny
- Verifying your Asian and British-territorial coins everyday with the best quality photos and the best information.
That's pretty cool, although personally I've never really been into collecting varieties, errors etc. I have a hard enough time deciding what to buy without expanding the field even further.
Several years ago I grabbed a 1905 US Liberty Nickel out of one of those "take a penny, leave a penny" things at a coffee shop. I left the barista a $2.00 tip on a $1.50 cup of coffee.
That's funny, I always take a look in the take a penny things.
the first world coins I ever bought (not from traveling) were from a guy who was just getting rid of a little bag for $20, it was worth about $200, if not more. mostly old coins and a bunch of silver coins, I think I have spent a lot of money trying to get a deal like that again.
Taking a break from swapping for a while, but still interested in pre 1799 Spanish coins, I will make time for that!
Some years ago I bought about 3 kilos of coins from someone who clearly didn't know much about it. I don't know how he got those coins, the only thing I know was that I found my 1957 sovereign in it.
Man I'm jealous, I thought I was doing well with my battle of waterloo commemorative thaler. A sovereign!! I always hear stories about people finding sovereigns but I've never been lucky enough to find one myself. One of the guys at my stamp club went out for a fossick at the local tip and found a little tin with some silver coins and a few gold sovereigns in it.
I saw an ad on a local classified site and replied. It was a widow who was selling her late husband's collection. It contained all mint condition Royal Canadian Mint sets (mostly silver). I asked her how much she wanted for the entire collection. She asked me to make her an offer. I gave her $800.00 and she was very happy. The next day, I sold the entire collection to a coin dealer for $7500.00 cash.
Citação: coinsoldierI saw an ad on a local classified site and replied. It was a widow who was selling her late husband's collection. It contained all mint condition Royal Canadian Mint sets (mostly silver). I asked her how much she wanted for the entire collection. She asked me to make her an offer. I gave her $800.00 and she was very happy. The next day, I sold the entire collection to a coin dealer for $7500.00 cash.
No disrespect intended but can't you see what is so very wrong about taking advantage of the elderly and the recently bereaved?
Non illegitimis carborundum est. Excellent advice for all coins.
Make Numismatics Great Again!
I'm sorry also, but I have to agree with Phil. To be honest, I was somewhat surprised that someone would openly admit to such behaviour and not see anything wrong with it.
Just because you can't see it ... doesn't mean it isn't there - Anon.
No disrespect intended but can't you see what is so very wrong about taking advantage of the elderly and the recently bereaved?I did not do anything illegal. I saw a chance to make a great deal and I did it. As long as it is legal and no one gets hurt, it is okay. This lady did not need the money.
Citação: coinsoldierNo disrespect intended but can't you see what is so very wrong about taking advantage of the elderly and the recently bereaved?
I did not do anything illegal. I saw a chance to make a great deal and I did it. As long as it is legal and no one gets hurt, it is okay. This lady did not need the money.There is a difference between what is legal and what is moral. If you can't recognise it then there is nothing I can say to make you understand. Let karma be the judge of your actions.
Non illegitimis carborundum est. Excellent advice for all coins.
Make Numismatics Great Again!
There is a difference between what is legal and what is moral. If you can't recognise it then there is nothing I can say to make you understand. Let karma be the judge of your actions.I certainly recognize the difference between what is legal and what is moral. However, I am a capitalist. My goal is to use my money to make more money. pnightingale, would you have seen a problem if I had given the lady $6000 and sold the coins for $7500 ? Are you against making a legal profit?
My take on it. I find an expensive coin that's selling cheaply I'll buy it and add it to my collection no qualms whatsoever. That's no different to coinsoldier buying the coins to sell them to make a profit. We both know what the coins are worth and we both buy them for as cheaply as we can.
Next time everyone who's rubbishing his actions manages to pick up something off e-bay for a fraction of the catalogue value are you going to contact the seller to say "excuse me but this coin is worth way more than this, I refuse to pay this little for the coin" Hell no, you take the coin, add it to your collection and praise yourself for making such a good deal.
If the lady cared at all about the coins she would have made the effort to find out what they were worth. She obviously didn't want them, didn't care about them, and was happy to get $800 for them, I don't think he did anything wrong. What's one person's trash is another person's treasure.
That's not the point - if the lady cares or not. The point is that coinsoldier is acting like a low human and the most important (and disturbing) is that he seems proud of it...
Citação: Fire Blade5That's not the point - if the lady cares or not. The point is that coinsoldier is acting like a low human and the most important (and disturbing) is that he seems proud of it...
I am a capitalist. My goal is to use my money to make more money. Would you have seen a problem if I had given the lady $6000 and sold the coins for $7500 ? Are you against making a legal profit?
I wouldn't seen a problem if you gave her $1 and after that made $10 000, but you didn't have to tell us the facts around that deal. Personally, after knowing this story, i think you aren't fair swapper and I'll never be willing to swap with you. Sorry
Citação: Fire Blade5I wouldn't seen a problem if you gave her $1 and after that made $10 000, but you didn't have to tell us the facts around that deal. Personally, after knowing this story, i think you aren't fair swapper and I'll never be willing to swap with you. Sorry
I was replying to a question on this forum called What's your best bargain find? That was my best bargain find!
I was being honest. I do fair swaps. But if you offer me a one ounce gold coin and I offer you $100.00 for it and you accept, what did I do wrong? How could you then say it was not a fair deal? You would have had three options ... accept my offer, make a counteroffer, or decline my offer.
You said: "I wouldn't seen a problem if you gave her $1 and after that made $10 000", but after saying that you said: "I think you aren't fair swapper". You cannot have it both ways.
When the buyer and seller are both happy, it is a fair deal.
Citação: Fire Blade5That's not the point - if the lady cares or not. The point is that coinsoldier is acting like a low human and the most important (and disturbing) is that he seems proud of it...
Hello,
That is a bit harsh don't you think. To say that he is a lower human being than you. That is what is disturbing. What gives you the right to say he is a lower human being than you, I can understand if you replied and said you didn't approve or you say it was wrong. But because he made a business deal you didn't approve of he is a lower human being than you. I am not saying I approve of what he did either but what your saying is making you no better than him.
Citação: Fire Blade5That's not the point - if the lady cares or not. The point is that coinsoldier is acting like a low human and the most important (and disturbing) is that he seems proud of it...
Hello,
That is a bit harsh don't you think. To say that he is a lower human being than you. That is what is disturbing. What gives you the right to say he is a lower human being than you, I can understand if you replied and said you didn't approve or you say it was wrong. But because he made a business deal you didn't approve of he is a lower human being than you. I am not saying I approve of what he did either but what your saying is making you no better than him.
Regards
Please, show me where exactly I've said lower than me?
Citação: Fire Blade5That's not the point - if the lady cares or not. The point is that coinsoldier is acting like a low human and the most important (and disturbing) is that he seems proud of it...
Hello,
That is a bit harsh don't you think. To say that he is a lower human being than you. That is what is disturbing. What gives you the right to say he is a lower human being than you, I can understand if you replied and said you didn't approve or you say it was wrong. But because he made a business deal you didn't approve of he is a lower human being than you. I am not saying I approve of what he did either but what your saying is making you no better than him.
Regards
Please, show me where exactly I've said lower than me?
Hello,
You called him a low human. "That's not the point - if the lady cares or not. The point is that coinsoldier is acting like a low human and the most important (and disturbing) is that he seems proud of it..."
By saying this it implies that he is lower than you. Unless you consider yourself to be a low human as well. In which case I am sorry.
I was replying to a question on this forum called What's your best bargain find? That was my best bargain find! I was being honest. However, I have been personally attacked. Maybe, I should just quit this forum. But first, I would like to remind you that those who live in glass houses should not throw stones.
Citação: coinsoldierI was replying to a question on this forum called What's your best bargain find? That was my best bargain find! I was being honest. However, I have been personally attacked. Maybe, I should just quit this forum. But first, I would like to remind you that those who live in glass houses should not throw stones.
Hello,
There is no need to quit the forum. I know that they say that honesty is the best policy but that isn't always true. I understand that you are proud of that deal and it is a good deal, but sometimes the details should be kept to yourself. Just keep this as a reminder for the future. I agree somethings said here were not alright and I have already pointed that out.
i did something similar to that but not to that extent. my friends grampa died and he told me he had a bunch of coins in the safe, go ask his grandma about them. so one day we went out and did some yard and house work for her and i got around to asking her about the coins. well she goes into the safe and pulls out maybe 100 mercury dimes and 100 silver roosevelt dimes, many silver quarters. she said she used to work at the bank in in the fifties and sixties. there was like 10 morgan dollars and 10 peace dollars, 100 dollars in red inked 2 dollar bills, and a little metal container with miscellaneous wheat and indian pennies. well i only had 35.00 dollars on me and didnt want to take advantage of the grieving granny and only give her that 35.00 bucks for it all, which i'm sure she would have done because she thought the dimes were only worth 10 cents a piece still. so i took 1 unc morgan 1879 offered the 35 bucks and told her when i got more money i would come out and buy it all off of her a little at a time. and told her she had at least a thousand dollars woth of coins easy. but she said since i did some work and helped her out i could have as many more coins that i wanted if i'd liked. well looking into the little tin container i find a u.s. 3 cent piece, an old seated liberty dime, and a bentonian currency mint drop civil war token, and an xf barber quarter, and a nice u.s. 2 cent piece, which she tells me to take for my help. so i leave her house with those 6 coins giving her 35 dollars and a half a day's worth of yard work. so 2 or 3 days later i save up about a hundred bucks and go back out there to buy a few more coins off of her, and she said they were all gone; her son had came over and gave her fifty bucks for them all. lucky him but at least i came away with the jewels of the collection on the most part. but my honesty with her didn't get me very far before the sharks came swarming out the water
Citação: 0gramzi did something similar to that but not to that extent. my friends grampa died and he told me he had a bunch of coins in the safe, go ask his grandma about them. so one day we went out and did some yard and house work for her and i got around to asking her about the coins. well she goes into the safe and pulls out maybe 100 mercury dimes and 100 silver roosevelt dimes, many silver quarters. she said she used to work at the bank in in the fifties and sixties. there was like 10 morgan dollars and 10 peace dollars, 100 dollars in red inked 2 dollar bills, and a little metal container with miscellaneous wheat and indian pennies. well i only had 35.00 dollars on me and didnt want to take advantage of the grieving granny and only give her that 35.00 bucks for it all, which i'm sure she would have done because she thought the dimes were only worth 10 cents a piece still. so i took 1 unc morgan 1879 offered the 35 bucks and told her when i got more money i would come out and buy it all off of her a little at a time. and told her she had at least a thousand dollars woth of coins easy. but she said since i did some work and helped her out i could have as many more coins that i wanted if i'd liked. well looking into the little tin container i find a u.s. 3 cent piece, an old seated liberty dime, and a bentonian currency mint drop civil war token, and an xf barber quarter, and a nice u.s. 2 cent piece, which she tells me to take for my help. so i leave her house with those 6 coins giving her 35 dollars and a half a day's worth of yard work. so 2 or 3 days later i save up about a hundred bucks and go back out there to buy a few more coins off of her, and she said they were all gone; her son had came over and gave her fifty bucks for them all. lucky him but at least i came away with the jewels of the collection on the most part. but my honesty with her didn't get me very far before the sharks came swarming out the water
You are a better man than her son. You did the right thing and even though you may have missed out on a quick profit there are some things more important than money.
Self respect and the respect of those around you will, in the long run, bring far more rewards than short-term greed. You can also look yourself in the eye when you are shaving :)
Non illegitimis carborundum est. Excellent advice for all coins.
Make Numismatics Great Again!
Citação: 0gramzi did something similar to that but not to that extent. my friends grampa died and he told me he had a bunch of coins in the safe, go ask his grandma about them. so one day we went out and did some yard and house work for her and i got around to asking her about the coins. well she goes into the safe and pulls out maybe 100 mercury dimes and 100 silver roosevelt dimes, many silver quarters. she said she used to work at the bank in in the fifties and sixties. there was like 10 morgan dollars and 10 peace dollars, 100 dollars in red inked 2 dollar bills, and a little metal container with miscellaneous wheat and indian pennies. well i only had 35.00 dollars on me and didnt want to take advantage of the grieving granny and only give her that 35.00 bucks for it all, which i'm sure she would have done because she thought the dimes were only worth 10 cents a piece still. so i took 1 unc morgan 1879 offered the 35 bucks and told her when i got more money i would come out and buy it all off of her a little at a time. and told her she had at least a thousand dollars woth of coins easy. but she said since i did some work and helped her out i could have as many more coins that i wanted if i'd liked. well looking into the little tin container i find a u.s. 3 cent piece, an old seated liberty dime, and a bentonian currency mint drop civil war token, and an xf barber quarter, and a nice u.s. 2 cent piece, which she tells me to take for my help. so i leave her house with those 6 coins giving her 35 dollars and a half a day's worth of yard work. so 2 or 3 days later i save up about a hundred bucks and go back out there to buy a few more coins off of her, and she said they were all gone; her son had came over and gave her fifty bucks for them all. lucky him but at least i came away with the jewels of the collection on the most part. but my honesty with her didn't get me very far before the sharks came swarming out the water
You are a better man than her son. You did the right thing and even though you may have missed out on a quick profit there are some things more important than money.
Self respect and the respect of those around you will, in the long run, bring far more rewards than short-term greed. You can also look yourself in the eye when you are shaving :)
Once again, I'm with Phil on this one. It sounds like you could have gone away with a lot more coins than you did, had you been that way inclined. However, despite what some people might say, there are things in life other than greed and material gain. As Phil said, you did the right thing and could walk away with a clear conscience, knowing that you are the better person and of sound moral fibre. And by the looks of things, you still came away with some beautiful looking coins
Just because you can't see it ... doesn't mean it isn't there - Anon.
Hello all,
I would like it if we could cool our jets and perhaps take time to read this. I will hope that the thread started by neilithic can be continued peacefully. It was a good thread and is starting to slip away to something else. Everyone can get caught in a bind sometimes and I just hope we can all move on from this: with all due respect to all members.I would like to encourage all members to re-read this:
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mine is a true story i didnt make it up it just reminded me of that time no offense to anyone intended and don't see why there would be, i have the coins to prove it
sometimes situations like that can be the best opportunities to purchase coins ?and people know it i just don't purchase for resale, i hoardem for ever? never do i sell my coins even when i'm broke which technically i'm never broke because i have all the coins but i dont ever dip into them. call me scrooge mcduck only coins i part with are the ones i swap - thats if they're doubles. i wonder how many people are like me. when it comes to this
Well, today I just thought about this: When I'll pass away, whom my wife/children will meet for my coin collection sale? I hope that person will be more like 0gramz. I just hope. Thank you for sharing your story with us, 0gramz. Enjoy your coins, it was ethical acquisition on your part.
YOU CAN MAKE A GREAT PROFIT FROM COINS AND HAVE ALL THE PARTICIPANTS VERY HAPPY (ESPECIALLY YOU).
First, you have to find someone who has a lot of coins for sell, but this seller should not be very informed about coin values. You can usually find such sellers on local classified sites (the worst place to sell coins). A couple emails or a phone call will help determine the seller’s level of knowledge regarding coin values. Next, arrange to view this lot of coins. For this viewing, you have to act very professional and appraise the coins. You must look the part with all the tools including magnifiers and scales. You will identify all the negative points about the coins regardless how minor these flaws may be. By now, the seller will feel that his coins have very little value. You ask him what he thinks his coins are worth. By now, he will probably say between $100.00 and $200.00 for the entire lot. You know this lot of coins has a retail value of approximately $1000.00 but the seller does not know this. So, you offer the seller $300.00 for his lot of coins. The seller is overjoyed because he has been offered at least double what he thought his coins are worth. He accepts the offer and is VERY HAPPY with the deal. He thinks you are the greatest for giving him more for his coins than he actually thought the coins were worth. Next, you find a coin dealer who pays cash for lots of coin. You know this dealer usually pay approximately 75% to 80% of the retail value for coins. When the dealer appraises your coins, he offers $700.00 (70% of retail value) which you know is a little low. Then, you counteroffer at $900.00 (90% of retail value) which you know is high. The dealer will probably split the difference and offer you $800.00 (80% of retail value) which is within his usual purchasing range. But, before you accept, it is worth making one final counteroffer. You say $850.00 for the entire lot and we have a deal. The dealer may split the difference and offer you $825.00 (82.5% of retail value) which you know is his upper limit. If he does not, you still have the $800.00 offer which he made. Now, it is time for you to say DEAL and shake hands.
The original seller is VERY HAPPY because he was given $300.00 for coins which he had valued between $100.00 and $200.00 for the entire lot.
You are VERY HAPPY because for a few hours of work, you made a profit of $500.00 (167% profit) or $525.00 (175% profit) on an initial investment of $300.00 that you paid for the coins.
The coin dealer is VERY HAPPY because he purchased these coins at a price where he can make a profit of $200.00 or more.
KNOWLEDGE IS MONEY
Well, if you know the lot is worth $1,000 and you imply by your comments that it is only worth $300, you are being dishonest and unethical. You may call it "capitalism," but it is sharp business practices like this that give capitalism a bad name.
You better hope the person never finds out they have been taken advantage of, because some people - or a hothead friend or aquaintance - may not take kindly to this kind of thing. If you are going to do this in your community you want to have a good reputation for honest dealing, and anyone who misrepresents the value of someone's coins as described above will quickly get a poor reputation.
THIS ALL ASSUMES COINSOLDIER'S POST ISN"T A WINDUP - because the more I read it, the more I think it could well be one.
I've changed my mind about coinsoldier. When he said he made an offer of $800 for the coins the old lady accepted I though it was just that she hadn't bothered to value them and all was fair in love and war. If he's deliberately tried to convey that the coins are worth nothing then that is swindling in my books.
Citação: neilithicI've changed my mind about coinsoldier. When he said he made an offer of $800 for the coins the old lady accepted I though it was just that she hadn't bothered to value them and all was fair in love and war. If he's deliberately tried to convey that the coins are worth nothing then that is swindling in my books.
see his post just above mine. He said : You will identify all the negative points about the coins regardless how minor these flaws may be. By now, the seller will feel that his coins have very little value. You ask him what he thinks his coins are worth. By now, he will probably say between $100.00 and $200.00 for the entire lot. You know this lot of coins has a retail value of approximately $1000.00 but the seller does not know this. So, you offer the seller $300.00 for his lot of coins.
In this scenario, the seller is happy because he thought they were only worth $100 or $200. Why did he think that? Because the buyer led him to believe it even though he knew it was untrue. That is dishonesty.
Citação: Chasinva69In this scenario, the seller is happy because he thought they were only worth $100 or $200. Why did he think that? Because the buyer led him to believe it even though he knew it was untrue. That is dishonesty.
This is the way used car salesmen and real estate agents operate. It is important to make people feel they are getting a great deal. If I cannot at least double my money from buying and selling someone's coins, then it is not worth the bother. I have done this thousands of times without a single unhapply seller or buyer. My reputation is so well established, sellers come looking for me to broker their coins based on referrals from previous sellers. I have the knowledge and I have the connections across the country. In my opinion, 90% of dealers will low ball sellers who are not well informed. I am the good guy because I usually end up buying the coins for between 25% and 40% of their retail value. My expectation is to at least double my investment. It is rare when I actually triple my investment. Most of these sellers acqired the coins from dead family members. They do not care about the coins and just want to get a few quick bucks.
Citação: Chasinva69In this scenario, the seller is happy because he thought they were only worth $100 or $200. Why did he think that? Because the buyer led him to believe it even though he knew it was untrue. That is dishonesty.
This is the way used car salesmen and real estate agents operate. It is important to make people feel they are getting a great deal. If I cannot at least double my money from buying and selling someone's coins, then it is not worth the bother. I have done this thousands of times without a single unhapply seller or buyer. My reputation is so well established, sellers come looking for me to broker their coins based on referrals from previous sellers. I have the knowledge and I have the connections across the country. In my opinion, 90% of dealers will low ball sellers who are not well informed. I am the good guy because I usually end up buying the coins for between 25% and 40% of their retail value. My expectation is to at least double my investment. It is rare when I actually triple my investment. Most of these sellers acqired the coins from dead family members. They do not care about the coins and just want to get a few quick bucks.
You claim to be the good guy (sic) because you offer slightly more than the other bottom feeders who low ball at ten percent. Yet your original posts indicate you scammed a widow by paying her less than 8 cents on the dollar by your own calculations. Make up your mind.
Non illegitimis carborundum est. Excellent advice for all coins.
Make Numismatics Great Again!
Citação: neilithicI've changed my mind about coinsoldier. When he said he made an offer of $800 for the coins the old lady accepted I though it was just that she hadn't bothered to value them and all was fair in love and war. If he's deliberately tried to convey that the coins are worth nothing then that is swindling in my books.
If you think these coin deals are great, you should try the same strategy to by engagement rings and wedding ring sets. This is where you can make 5 to 10 times the return on your investment. Buying used jewelry can be risky if you do not understand the business or the best process. You need all the tools to test the metal content and the stones to get a value that protects you as a buyer. Scan your local classified sites for ads selling engagement rings or wedding ring sets. 95% or more of the sellers is a woman who is angry at the man who just existed her life. She wants to get rid of the ring that is a symbol of a union that went bad. The lady wants to get rid of the ring or rings FAST. Usually the man (other half of the bad union) paid for the ring or rings so she does not care how much he loses on the ring(s) as long as she gets some new money in her purse. Remember, it is sometimes more dificult to quickly sell rings than coins. That is why I buy these rings for 10% to 20% of retail value. It is important to let the seller know how difficult it is to sell used engagement and wedding rings. It is also important to let them know that pawn brokers will try to screw her financially. Let the seller watch as you appraise the ring. Let her see the weight of the ring. Let her know about the high profits at jewelary stores. Then, ask her what is the lowest price that she is willing to accept right now. You should then struggle with that amount for a little while and use your calculator frequently. You may even make a cell phone call to your business partner. Finally, you break down and give her what she asked (usually 10% to 15% of the retail value) because you know that you can get at least 60% of retail value without any effort, but more realistically 70% of retail value. It is so good to see this very happy lady as you count out the money for her ring(s). It makes me feel good to know that I just made this lady happy. I am sure that this is the way her lawyer feels when the union finally ends. I love making these ladies feel so happy, especially when it puts dollars in my pocket.
You claim to be the good guy (sic) because you offer slightly more than the other bottom feeders who low ball at ten percent. Yet your original posts indicate you scammed a widow by paying her less than 8 cents on the dollar by your own calculations. Make up your mind.I actually gave the old lady $800.00 for her coins and sold them for $7500.00 which means she got 10.67 cents for every 89.33 cents that I received (NOTE: I also spent $25.00 for gas). The most important part for me was that I made a good deal and the old lady was VERY HAPPY.
You claim to be the good guy (sic) because you offer slightly more than the other bottom feeders who low ball at ten percent. Yet your original posts indicate you scammed a widow by paying her less than 8 cents on the dollar by your own calculations. Make up your mind.I actually gave the old lady $800.00 for her coins and sold them for $7500.00 which means she got 10.67 cents for every 89.33 cents that I received (NOTE: I also spent $25.00 for gas). The most important part for me was that I made a good deal and the old lady was VERY HAPPY.By your own calculations posted elsewhere you typically sell to dealers for 80% FMV which would give a figure of around $9,000. Try harder.
Perhaps you could go back and ask her for another $25 for your travel costs.
Non illegitimis carborundum est. Excellent advice for all coins.
Make Numismatics Great Again!
Am I the only one who agrees with coinsoldier? He didn't deceive the woman, instead he gave her more than she wanted. He isn't being dishonest, only smart.
Anyway. back in the spirit of which I asked the question. I purchased a coin today which I thought was a pretty common Poland 3 polker coin from 1633 when I purchased it, but on closer inspection there were minor differences. On furthur research it turned out to be a 3 polker coin from the small city of Elblag in Poland during the short time that it was under the rule of the Swedish. Not sure of the catalogue value but it's definitely worth more than the NZ$10 (4 british pounds or US$7.50) that I paid for it. Similar coins are listed on Ebay at over US$20.
Citação: Chasinva69Well, if you know the lot is worth $1,000 and you imply by your comments that it is only worth $300, you are being dishonest and unethical. You may call it "capitalism," but it is sharp business practices like this that give capitalism a bad name.
Just think about what you are saying. Yes, I knew that the lot of coins had a retail value of about $1000 to the end consumer. I did not imply that the lot was only worth $300 but I clearly told the lady that I would pay $300 for for the lot of coins. That was the amount of my money that I was willing to put up for this lot of coins. Then, I had to find a coin dealer who would pay me more and I was confident that I could easily get $600 and possibly up to $800 for the entire lot. Why would I pay much more for this lot of coins when I earn my living by buying and selling coins and jewelry? I always have a lot of inventory waiting to sell and that is where much of my profit sits. The deal with the old lady was quick, easy and profitable for me. It is not always that way especially in the current economic envirorment. I have to allow for changes in the marketplace especially when dealing with gold and silver. If I do not see a potential to double my investment, I do not want to do the deal.
If I see a lot of coins that potentially has a retail value of $1000.00 (big IF), I know that a coin dealer may pay me between $600.00 and $800.00 depending on his inventory, his experiences, his needs and his estimation for potential profits for himself. In the end, I may have to sell this lot of coins for $500.00 to $600.00 to move it especially if I need to move it quickly. So with so many uncontrollable variables, how much should I give the lady for this lot of coins? If I give her $600.00 and end up selling the lot for $500.00 or $600.00 then I will not be around the next time she wants to sell her unwanted coins.
Alright coinsoldier. You have made your point again and again ad nauseum. Can we all please just get back to the spirit in which I asked the question. Things like my above post where we just show deals we have picked up rather than attacking others because we disagree with their ethics, or trying to defend your actions.
[By your own calculations posted elsewhere you typically sell to dealers for 80% FMV which would give a figure of around $9,000. Try harder.
Perhaps you could go back and ask her for another $25 for your travel costs.I do not understand where you get $9000.00
I paid the lady $800.00 for the entire collection.
The next day, I sold the entire collection to a coin dealer for $7500.00 cash.
Yes, I ofter get 80% of the current retail market value from dealers.
However, there are many harder to sell items where I could get as low as 60% from the best dealer.
Citação: eminemAm I the only one who agrees with coinsoldier? He didn't deceive the woman, instead he gave her more than she wanted. He isn't being dishonest, only smart.
Just an opinion, not trying to be rude in any way
Finally, someone who gets the point. Regardless, where that lady took her coins, I am certain she could not get more than $2500.00 and I can only say that with certainty after actually selling the coins. At the time that I paid he $800.00 I could only guess how much I could get by selling these coins. It could have been as low as $3000.00 if all the right conditions did not fall my way.
Citação: neilithicAlright coinsoldier. You have made your point again and again ad nauseum. Can we all please just get back to the spirit in which I asked the question. Things like my above post where we just show deals we have picked up rather than attacking others because we disagree with their ethics, or trying to defend your actions.
I think you should re-read the message because I am the guy being attacked and being called some nasty names. I gave an honest answer to your question. I feel if I am being attacked , than I should be able to defend myself. That is what my training taught me and that is what I did in Afghanitan. For you who have never seen life through the eyes of a soldier in battle, do not be so quick to make moral judgements. When we return home as broken soldiers and broken human beings snd the government denies our legitimate claims, where is the morality police than. Someone has to pay my bills. With what the government contributes, I would have to live in a dumpster.
I think you should re-read the message because I am the guy being attacked and being called some nasty names. I gave an honest answer to your question. I feel if I am being attacked , than I should be able to defend myself.I did say in my post "ALL just please get back to the point of my question"
I only mentioned you by name because your posts are the same thing over and over again. Just talking about how you make profit off your dealings. But my post was a general call to all posters, both you and those that are attacking your posts to just let bygones be bygones and get back to posting about our coin deals.
There are now over 50 posts in this thread and only about 10 of them are talking about our nice bargain finds, the rest are petty squabbling so again I implore everyone to just drop it and return to listing good deals and interesting coin's we've managed to pick up. That is what I wanted to read about when I posted this question. Not the ethics of buying and selling coins for profit.
I don’t think its about who is right or who is wrong here. Our dealer friend will always feel that he is right because he is here with a different interest. Most of us are here to learn, share and gain knowledge whereas he is here to sell his coins. Now what he did with that old lady, for collectors like us is unethical but for him its perfectly OK as he is a dealer and he would like to sell / buy at any cost.
My personal opinion - dude you are in a wrong place. You have a completely different interest. I am sure after what you did with that lady, if she gets to know the real worth of the coins she will never ever trust a coin collector and might feel that all collectors are thief. As a member of this community it’s our duty to encourage youngsters to take up this hobby but what you did will definitely put a very wrong impression on them (we are indirectly encouraging them to be smart (I don’t know whether it’s being smart our over smart but that is what you feel)).
If a newbie comes to this board and reads this topic, he/ she would feel great I think this is what coin collecting is all about and my friend it’s not good for our coin collecting community. We would not want more of such smart chaps; we are OK with being dumb collectors as long as we give good and ethical vibes to new budding collectors.
Citação: neilithicI think you should re-read the message because I am the guy being attacked and being called some nasty names. I gave an honest answer to your question. I feel if I am being attacked , than I should be able to defend myself.
I did say in my post "ALL just please get back to the point of my question"
I only mentioned you by name because your posts are the same thing over and over again. Just talking about how you make profit off your dealings. But my post was a general call to all posters, both you and those that are attacking your posts to just let bygones be bygones and get back to posting about our coin deals.
There are now over 50 posts in this thread and only about 10 of them are talking about our nice bargain finds, the rest are petty squabbling so again I implore everyone to just drop it and return to listing good deals and interesting coin's we've managed to pick up. That is what I wanted to read about when I posted this question. Not the ethics of buying and selling coins for profit.You have raised another interesting point. But now you are attempting to limit free speech. I am the victim (on the receieving end of those negative comments). However, after a lifetime fighting for the right to exercise free speech, I want to defend the rights of those who have been disagreeing with me and attacking me. These opponents of mind, still have a right to disagree with me and to do that in this FREE DISCUSSION forum. Some of my buddies died while fighting to allow those with differing opinions to be able to express those opinions. I may not agree with your opinion, but I will fight so that you can maintain the right to express your opinion even when I do not like your opinion.
Citação: mayankI don’t think its about who is right or who is wrong here. Our dealer friend will always feel that he is right because he is here with a different interest. Most of us are here to learn, share and gain knowledge whereas he is here to sell his coins. Now what he did with that old lady, for collectors like us is unethical but for him its perfectly OK as he is a dealer and he would like to sell / buy at any cost.
My personal opinion - dude you are in a wrong place. You have a completely different interest. I am sure after what you did with that lady, if she gets to know the real worth of the coins she will never ever trust a coin collector and might feel that all collectors are thief. As a member of this community it’s our duty to encourage youngsters to take up this hobby but what you did will definitely put a very wrong impression on them (we are indirectly encouraging them to be smart (I don’t know whether it’s being smart our over smart but that is what you feel)).
If a newbie comes to this board and reads this topic, he/ she would feel great I think this is what coin collecting is all about and my friend it’s not good for our coin collecting community. We would not want more of such smart chaps; we are OK with being dumb collectors as long as we give good and ethical vibes to new budding collectors.
Cheers and god bless!!
There are many aspects to coin collecting. I am a coin collect. Also, I am a coin invester who makes money from coins to put food on the table and to buy nice coins for my collection. I also help other collectors complete thir collections.
Citação: coinsoldierYou have raised another interesting point. But now you are attempting to limit free speech. I am the victim (on the receieving end of those negative comments). However, after a lifetime fighting for the right to exercise free speech, I want to defend the rights of those who have been disagreeing with me and attacking me. These opponents of mind, still have a right to disagree with me and to do that in this FREE DISCUSSION forum. Some of my buddies died while fighting to allow those with differing opinions to be able to express those opinions. I may not agree with your opinion, but I will fight so that you can maintain the right to express your opinion even when I do not like your opinion.
I am not trying to "limit free speech" I am pointing out that the point of this thread was for peolpe to share interesting finds and good bargins. Your posts seem to be wandering from this topic. In fact many of your posts seem to be posted specifically for the purpose of firing up a debate.
If you wish to have a debate about the ethics of buying and selling coins then why not start upa new thread for this purpose and leave this thread for comments on the topic for which it was intended.
Nice One smartOne Kg - I love the german marks, the eagle design on them is so pretty. I've got a few 1, 2 and 3 mark coins from german states and the german empire.
Citação: coinsoldierYou have raised another interesting point. But now you are attempting to limit free speech. I am the victim (on the receieving end of those negative comments). However, after a lifetime fighting for the right to exercise free speech, I want to defend the rights of those who have been disagreeing with me and attacking me. These opponents of mind, still have a right to disagree with me and to do that in this FREE DISCUSSION forum. Some of my buddies died while fighting to allow those with differing opinions to be able to express those opinions. I may not agree with your opinion, but I will fight so that you can maintain the right to express your opinion even when I do not like your opinion.
I am not trying to "limit free speech" I am pointing out that the point of this thread was for peolpe to share interesting finds and good bargins. Your posts seem to be wandering from this topic. In fact many of your posts seem to be posted specifically for the purpose of firing up a debate.
If you wish to have a debate about the ethics of buying and selling coins then why not start upa new thread for this purpose and leave this thread for comments on the topic for which it was intended.
Nice One smartOne Kg - I love the german marks, the eagle design on them is so pretty. I've got a few 1, 2 and 3 mark coins from german states and the german empire.
Simply put, I responded to your question honestly. Since then I have been receiving personal attacks and responding to the negativism,
Citação: mayankI don’t think its about who is right or who is wrong here. Our dealer friend will always feel that he is right because he is here with a different interest. Most of us are here to learn, share and gain knowledge whereas he is here to sell his coins. Now what he did with that old lady, for collectors like us is unethical but for him its perfectly OK as he is a dealer and he would like to sell / buy at any cost.
My personal opinion - dude you are in a wrong place. You have a completely different interest. I am sure after what you did with that lady, if she gets to know the real worth of the coins she will never ever trust a coin collector and might feel that all collectors are thief. As a member of this community it’s our duty to encourage youngsters to take up this hobby but what you did will definitely put a very wrong impression on them (we are indirectly encouraging them to be smart (I don’t know whether it’s being smart our over smart but that is what you feel)).
If a newbie comes to this board and reads this topic, he/ she would feel great I think this is what coin collecting is all about and my friend it’s not good for our coin collecting community. We would not want more of such smart chaps; we are OK with being dumb collectors as long as we give good and ethical vibes to new budding collectors.
Cheers and god bless!!
There are many aspects to coin collecting. I am a coin collect. Also, I am a coin invester who makes money from coins to put food on the table and to buy nice coins for my collection. I also help other collectors complete thir collections.
Hay Soldier,
This is what I said in my post, you will not understand what I am trying to say cause you are on the other side of the fence. Its only about setting up the right example for others and being fair. I hope you understand that since you are a senior collector there are tons of young budding collectors like me who look up-to you and aim to follow the footsteps of senior collectors and be like them one day.
Citação: neilithicAnyway. back in the spirit of which I asked the question. I purchased a coin today which I thought was a pretty common Poland 3 polker coin from 1633 when I purchased it, but on closer inspection there were minor differences. On furthur research it turned out to be a 3 polker coin from the small city of Elblag in Poland during the short time that it was under the rule of the Swedish. Not sure of the catalogue value but it's definitely worth more than the NZ$10 (4 british pounds or US$7.50) that I paid for it. Similar coins are listed on Ebay at over US$20.
Sounds good, I'd love to see some pictures of this coin. Elblag, fascinating history by the sounds of things. That certainly is a bargain find...
Citação: dptashnyHas anyone been to https://en.numista.com/forum/topic8643.html? If you saw what was there before bam777 edited it, you should have some mercy on coinsoldier.
He has been trolling the forum for days now, I have removed many inappropriate messages today and yesterday.
The rest of the lot was copper but had some nice stuff in it. A george III farthing and halfpenny, straits settlements half and 1 cents from the 1800s and East India Company half and 1 anna coins from the early 1800s. I managed to sell the remainder of the lot for NZ$36. So I doubled my money and got two coins I wanted. BARGAIN!!!!!!
nice bargain today, for 4.50$ i buy small lot of coins, and find there 50 franc 1975 france 30 grams 0.900 silver, and 200 dinara 1977 yugoslavia anniversary 15 gram 0.750 silver, and 5 coins worth 1$ each
Citação: emilu2nice bargain today, for 4.50$ i buy small lot of coins, and find there 50 franc 1975 france 30 grams 0.900 silver, and 200 dinara 1977 yugoslavia anniversary 15 gram 0.750 silver, and 5 coins worth 1$ each
and our song go to finale in eurosong
I think I should consider moving to Macedonia and then check all local flea markets.
My son (11yo) is switching gradually from the beer bottle-cap to coins collecting A week ago he met a good swapper in the playground and for 10 rare bottle-caps he got 6 nice coins. He was aware and very proud of great bargain he made. When he showed me the coins I found an expensive commemorative silver coin https://en.numista.com/catalogue/pieces8817.html among others and I opposed to this swap. My son was very dissapointed when I asked him to give back all the coins but he understood it well when we disscused moral side of this exchange. He decided not to get the caps back from the swapper.
I hope it was a good lesson for my son how to swap honestly.
i have nice coins from bargain find :)
with inpatience i wait to back home to add them in catalog :)
some turkish silver coins pre 1850,some silver 2 reich mark,ddr coins,silver bulgarian lev 1891,30 kreutcer maria theresia 1766 silver coin :)
i have offer for 400-500 weimar republic coins, 5 phening to 10 phening 1880-1916 for 50euro,but is expensive for me coins in grades f-xf,i dont have catalog here to see the worth of them
I met an old guy at a local coin shop who saw Morgans for sale at an estate sale. He asked the price and she was like "I don't even think you can still spend these anymore... $2 a piece". He went home, got some more money and paid her $15 a piece for them lol. I think he bought about 30... I met him when he sold the two duplicates he got. I work a cash register, so my best bargains are when I swap my pocket change for silver I find in the register haha. 1 1951 quarter, 1 1956 dime.
Free thinkers only thrive in history books.
~ Bayside - Howard
Well, my best friend is an orphan, and her parents collected coins. She told me "pick the ones you want" and I didn't know at that time that those were from her parents, so I took a lot of silver ones (that were the most important of those I took):
And then, when I realised that were from her parents I felt really bad, but she said it was ok so it was all ok.
Then, my uncle works as a garage sales organiser, so he prepared one near my home. I went because he told me that there were going to be coins. What did I find? This! https://en.numista.com/catalogue/pieces194.html . I paid 5 Argentinian Pesos for it (1 USD). It was a complete bargain!
In another occasion, I went to a park where all Sundays a coin fair takes place. I found this one: https://en.numista.com/catalogue/pieces27978.html
It had a little spot, but I bought it. When I got home, I realised that it worths like 10 USD in this condition! The worst of all, is that I bought it from a Russian man, that knows a lot about pre-USSR coins!
Well same here, kinda. Bunch of small silver coins, such as an 1878 Chilean 20 Centavos for $4, two possibly silver Crowns from Ascension and Tristan da Cunha for under $5 with a silver 20 Kopek from '22 in EF for $2 (haven't gotten them in the mail yet), a British Honduras 10 Cent from '42 for $3, and a number of Hong Kong silver for under $10.
Other than silver I bought recently 34 Chinese coins for 35 bucks, including shipping. This means that I'll have a few duplicates for those who are interested.
Oh, and because people don't know Japanese coins much, I bought two 500 yen coins for under $10. Looks like I'll have a good head start in Japan next week!
Kenny
- Verifying your Asian and British-territorial coins everyday with the best quality photos and the best information.
I'm keeping these and about 10 others from the lot with a catalogue value of over $NZ400 and I'm going to on-sell the rest and maybe even make a profit. There's 3 NZ crowns, 4 NZ half crowns, a whole lot of british, australian and South African silver coins about 60 in total to sell. I love buying those big bulk lots.
I've just managed to buy a big lot of Australian silver coins (7.5 troy ounces of silver) for $30 less than the melt value. It includes a full set of the 1910 Edward VII coins. Hooray!!
Citação: neilithicI've just managed to buy a big lot of Australian silver coins (7.5 troy ounces of silver) for $30 less than the melt value. It includes a full set of the 1910 Edward VII coins. Hooray!!
That is a great bargain. Where did you find that deal?
It was on our local (New Zealand) version of e-bay called "trademe". I was suprised nobody else bid on it because usually Australian coins are pretty popular and sell really well. I guess I'll be picking over it and re-selling what I don't want.
The last batch I did that with I bought for $277,picked out 15 coins with a catalogue value of around $400, split up and resold the rest for $290. $200 worth of coins and $13 profit, thank you very much!!
I love it when prople are too lazy to split up big batches and sell in bulk lots.
Last year I bought a dozen Morgan dollars from a dealer I visited often. Half were carefully selected dates that I needed in the $50-$75 range, the other half were random xf's from a large lot of common dates selling around melt, about $25 at the time. Everybody was happy.
When I got home and checked the "common dates," one was surprisingly an 1893-O that booked for around $800 in xf. I called the dealer and asked if they would mind looking up a date for me, from the common dates I had just bought. When I said 1893-O I thought I could hear the sound of lungs collapsing at the other end of the line. I quickly reassured him that I presumed it was a mistake, refused to make a windfall profit from what was most likely a store assistant's oversight, and would be back in the store soon to return his coin. Later, after looking it over, he conferred with his partner and asked if I would buy it for $200. I did so and felt I got a great deal on a nice coin I never would have bought on my own, they made a nice profit (having bought below melt in a large lot) and kept a good customer.
Some buy coins for love of the hobby, others buy to make a living, many do both. A profitable purchase means the buyer can get a better return than the seller, the just reward for his knowledge and effort. A fair sale requires reasonably informed willingness on both sides. When either side knowingly takes advantage of the other side's ignorance to generate a sale that would not occur if they knew the fair market value - which may vary widely if it is a bulk sale or retail purchase, and the current strength of the market, as well as time and connections needed to make a sale - it is dishonest, but not necessarily illegal. If a person is happy to be known as law-abiding, but dishonest, that is their prerogative.
In the case of the widow, it seems there was a wide range between the the lowest price she would accept, and the highest price the buyer would pay, hoping he could make a good profit. If he cared what she thought, he could inform her of how much her coins might be worth and how much he was willing to pay her to secure a good profit for his efforts, and they could negotiate in good faith, without risking her feeling cheated if she discovered the true value of her property.
I chose to be honest, got an excellent deal, built up a friendship, and established a reputation for fairness that has helped me in many subsequent transactions that add up to far more than the single windfall I passed over. From the tone of most of the respondents in this forum, I'm sure they would do the same.
Really?????? I though we had ended this debate and got this thread back onto the reason I had intended it for, sharing good buys and interesting finds with other collectors rather than attacking the morals of others. Please refrain from trying to bring down others and just share your coins.
I paid way too much for it but I just managed to pick up an early belgium franc last night. I paid almost catalogue value for it but we don't get many belgian silver coins here in New Zealand. It was this one
Sorry I just noticed the discussion thread today, and my main point was about the dollar. I thought I was making a constructive suggestion not tearing down somebody else. Back to coins now.
Wow that's a great haul for so little, wher did you pick that up from?
I was amazed last night. I've been in my buying phase because I've just got a couple of hundred dollars from the last bulk lot I purchased and I saw an auction entitled "6 british sixpences" the starting bid was NZ$20 (about 10 british pounds or US$15). Usually with these lots it's all copper nickel coins or at the outside some of teh 50% silver coins. I thought I'd have a look, it turned out they were actually all shillings and these were the 6 coins:
I left a note to say they were actually shillings but he didn't reply so I stuck on a bid and suprisingly nobody else bid on them. To pick up a Queen Anne shilling for $20 is phenomenal but to also get two George III, a George IV and two Victorian shillings as well is almost unbelievable. Admitedly the early coins did have slight buckles and one of the victorian shillings was holed and none of them are what you would term high grade. I'm still extremely happy with my purchase.
bam777 is right,time to cool the jets 
coins in grades f-xf,i dont have catalog here to see the worth of them 
