So frustrating dealing with most coin dealers. Years ago, one guy immediately pointed out my 1928 Philadelphia Peace dollar amongst five other coins and said "hold onto this one, it's a good date". He offered me $250. and even showed me his markup. Two more dealers looked at it and slid it aside with the other common dates and offered me $25. a piece. Even with a beautiful cased 1883 CC Morgan w/box, I had a guy say "these are everywhere", and offered me $75. I called the guy out and he admitted the coins were worth much more and had no excuse for lowballing me. There should be somewhere to report unscrupulous dealers that belong to the Numismatic Assoc.
Dude, we have enough laws on the books that are not getting enforced. We don't need a law for everything. How about they make a law that we the people can't walk into a coin shop unless we have a certificate saying we took a coin collecting class for 3 months? See what I'm getting at? Where in your dispute with those coin dealers do you think that YOU have a personal responsibility in understanding the very materials that YOU are bringing into a coin shop? You are responsible for your own personal education. Rule #1 in everything and all situations .... if you don't educate yourself on your situation, sooner or later someone will take advantage of you. To avoid getting taken advantage of, .... LEARN YOUR BUSINESS before talking to someone about giving you MONEY for what you own. ...
@@ThisUnderWorldOfDarkness I didn't say anything about a law. This is not about the public educating themselves. This is about a reputable organization not policing their members, which reduces their credibility. The ANA is a voluntary organization that requires members to sign a code of ethics. What good is that if they have no system for evaluating and monitoring the members? All I'm suggesting is for them to have a system for investigating and monitoring their members who use their status as a member to enhance their business. How does that not make sense?
Alot dishonest people in general. One day our AC went out. Simple fix but I didn't kno it at the time. I'm no Heating and Cooling guy so I wouldn't kno if it was a simple fix or not. First 2 companies I called told me "your unit is not repairable, you'll have to buy a brand new unit". Both said the same crap trying to get me to spend 10k. Btw, had to pay 100$ per service call just to be lied to. The 3rd company said "An animal or something chewed threw a wire". Literally a 20$ fix. About 100 all together including the service call. Glad I called around before I got a loan for 10K$ I never needed thanks to some jerks that belong in Hell. Make sure to talk to multiple experts besides 1 guy behind the counter buying your metals. To him, your clueless, that means your an easy way to make money. He wants something rare? "Il sell him this 20$ coin and say it's worth 120$". That happens EVERYDAY! Please check your metal/product before letting someone take advantage. When 1 person gets fked over, that effects everyone who shops at said store. Not good for business.
Agreed... Sir it's rare to find a truthful person these days... I'd feel more apt to taking less from a coin if I felt the dealer was telling me the truth... I've held on to my coins just because I have so many that I don't want the coin dealer to "do as u said in the video" and offer me said amount for one or two and say $50.00 for the rest... U helped me fins motivation to look through my coins in sections so I can be prepared... God bless u and please be safe...
About 5 years ago I went all in on silver, I was concerned about ethical dealer, found a coin store that has been same owner, over 35 year's, I've been very happy with hi.
I inherited a cc Morgan dollar and sold it off for probably less then half is worth. Sucks. Needed money and didn't know what i know now. The guy definitely got me
I think you did a great job at nicely letting folks know what they're in for. I've been a coin collector for 50+ years. And, I probably would have been a little more straightforward. The challenge with coin dealers is that they are much closer a flea market / garage sale business model than they are to a normal retail store model. So, you're dealing with honest dealers who are looking to score on a good "flea market" type find, which will include even ethical dealers. Plus, you're dealing with dishonest dealers who will do and say anything they can to lowball you. And, oftentimes, the person selling the coin is not a collector and not familiar with what they have. So, there are a number of factors going against you. I think the key is 1) get to know the other person, check reviews, and establish a personal relationship. This will allow you to weed out those in the latter category. Then, 2) educate yourself by doing some research and talking with multiple experts, especially those that you do not plan to sell to. You covered all of these very well in your video. Thank you.
Nowadays, with the internet, most people have no excuse for not finding the rough value of coins. People that I work with, have asked me about lots of coins. I will research them as best I can, however, I recommend a coin dealer that I have known for years and all of them have come back to me and thanked me for helping them. As I said earlier, it doesn't take a genius to get at least, some basic details about their coin/ coins. There you go, I've had my say.
Never tell a dealer that you want to sell your coins to a friend but just want to know what they are worth. I always tell them then it's no longer a buy offer but an appraisal. $50 an hour .However , if you sell the coins or some to the dealer he may help you out ,but he's not there to help your friend and you do a private deal.
Wish that I had a friend like you. It's going to come to the point one day where I'm going to have to sell off my old coins for my survival that my father & grandparents left me. It's troubling knowing that the wrong coin dealer could rob me blind from my retirement that I will have to depend on in my final years. I so worry for my future, I pray it works out for me in the end.
Thanks for the heads up. I'm trying sell my dads collection, i think i will research a few, then get estimates from a few Buyers to help figure who's honest and who's not.
I’ve sold to my coin dealer many times and with success. Sometimes he even gave me way more than the coin is worth lol... but I won’t complain about that!
There are NO honest ones where I live. And the one that really screwed me over was PSCG listed Dealer in NC? So I can tell you I have not found one yet in four years+.
@@dhhenry7558 Soon there will be fewer honest ones anywhere. Dumps in Denver are growing and cheating harder than a used car dealer. Why do they risk pissing off newbies grieving the loss of a loved one?
Buying silver a little below spot and selling it to stackers for a few dollars over spot has made a good living for me. Tube videos have sold metal for me. So many people willing to lose money thinking they are investing. Thanks for the videos.
@@TreasureTownCoins My local coin dealers here in Tucson, AZ mostly deal with gold coins from around the world worth 10's of thousands of dollars. They don't want to deal with pennies unless they're Wheat Penny varieties. And they go strictly by the coin error books. If it's not a listed variety, they don't want your coin, even if it's clear you have found a new variety that hasn't been discovered yet. If I have a 1940 wheat penny with no errors on it, but it's in great shape, they will only offer me between .03 cents and .07 cents. Which means I would be losing money because it would cost me $2.00 in gas to get to the coin shop. They say no one buys those kinds of pennies. If that's true, then I can see their side of it. Which makes me think, if I don't have a $10,000 coin, it's not worth my time to even try to sell it. As for me, I'm not looking to become filthy rich. I have some coins that I'm willing to let go of for .10 cents on the dollar, to make a fast sale for health food store supplements. Not only are my local coin dealers not interested .... they're rude and snarky about it. That's the worst part. Getting talked down to from these coin dealers like they think their some upper class elites and I'm just some unwashed peasant who deserves to be treated like a snot rag because I'm not walking into their store with a $23,000 solid gold coin from Egypt or something. ..
Coin dealers are some of the stingiest people on earth. I saw I guy at a coin show arguing over the price of a coin with a customer who wanted to sell. The dealer wouldn't come up 5 bucks on a 100 dollar coin, all while drinking his $4 bottle of coke from the concession stand.
Just one incident doesn't make it a reality for every deal. I have good friends at coinshows.I sell to people out of state and on the phone also.I deliver the coins and get paid well from dealers at coinshows.
Has to pay for that coke somehow. If the guy could get $5 more somewhere else, he should have just gone there. More then likely no one else was willing to pay that extra $5 either. The guy is running a buisness. Most coins are going to sit for 6 months or more. The longer they sit the higher the overhead that coin costs. Getting 80% for a coin that moves quickly is pretty much the average you will get, 50% to 70% for one's that take a while to move. People have a hard accepting this. Your choice is to accept it, sell it yourself & absorb the associated costs, or don't sell it.
A lot of deals are lost on a difference of 5 bucks. As a dealer you have a business and overhead. As a buyer you can decide to hold off or pay the extra 5 and not buy the vending machine cola cancer
I've been VERY fortunate with my local coin shop.. Here in west Texas, there are not very many coin dealers. The one legitimate coin shop within a 150-mile radius is a well-known, well-respected member of the community. My biggest takeaway from getting to know him is that you can't put a price on honesty. He started with 1 shop in '82. He now owns several shops all over west Texas and has a thriving business. That's what happens when you play it straight and are more than fair (almost to a fault)
BigMike, I'm pretty sure that you and I shop at the same place (I'm in Midland). If so, I absolutely agree that he's the most honest dealer that I've ever dealt with
You r the first one, to really be HONEST. I have many LINCOLN CENTs, from 1937 to 2009 I would like to SELL THEM ALL. I'm a RETIRED MARINE CORPS SNYPR. Can you HELP?
Fine line between selling yourself and doing the work, or, in effect, pay someone to do the work for you. How much is your time worth, how fast do you need the money, etc.
oh hello I had a question I've been watching your site and a lot of what you're saying applies to me and I was wondering is it not customary to give a receipt for the coins that were taken and purchased an itemized receipt And the whole thing about bumping up the other coins that are set aside is a total reality thank you for your channel
Don't invest in precious metals with money that you're going to need for everyday living expenses. When it comes time to sell its better to come from a making profit angle than a " I have to sell it" angle and sell under your purchase price.
If you’re not keen on getting ripped off selling your dad’s collection, why not just keep it? You’ll have something to remember him by, and over time, you just might pick up a new hobby!
Perhaps their father abused their them, so their children don't want anything to remind them of him. Perhaps they want to get rid of the bad memories, but at the same time, want to make sure when they sell it off, they get the right price. ... being afraid of getting ripped off is remedied by educating yourself, which is the point of these videos. ..
@@ThisUnderWorldOfDarkness You need to get your mental state diagnosed buddy. You are going around thread to thread spamming the same thing and even slandering a certain group of people. Help yourself first before you can help any cause.
@Eric-dd8bk What group of people am I slandering? If you have something to say, then say it. Stop with the riddles. If you want to have a conversation with someone, try posting a complete thought. Oh, that's right. You really don't want to have a conversation, you just want to talk down to people right?
I wish I still had my dads. We started one as a family & my sister pawned it when he died without me knowing for god knows what. I have almost every coin we had by searching every day since.
Over 50 years ago, I inherited a coin collection, still in my ownership. Yeah, pennies, but from about 1900 to 1940, all types filled in, but a couple were not quite correct. The couple substitutions are also 1909, or so not junk. I just bought the latest coin guide, and plan on marking and knowing what the costs are more closely. The only problems are I don't want to pry them out to get a good look and sell them piecemeal. The card back has a dated description of how long the coins were collected, and given for my birth in 1939. The place I live has one coin dealer, so not much comparisons. How do I price out the display as framed, and with personal dated data, seems like that would increase the price a fair bit? Would you be interested in my sending info. on this ?
I would never sell my gold or silver bullion for less than spot price. I would call multiple LCS and be willing to drive 4 hours or more to get best price. If none offer spot, then I become their competitor and sell on Craigslist etc. I do not trust anyone.
@@DrMatey215 - Wrong. Depends on how much is being sold. How much is 5 oz of gold worth? Difference in offer could he $hundreds. 4 hour drive is one $40 tank of gas. You gave no thought to this.
What it comes down to is: The Store has to make a profit. EASY to buy, "precocious metal" & Coins. Not so easy to SELL! So much for investing. The Market Value is what the seller sells for, that means the Store has to make enough to Profit, pay the rent, pay the utilities, pay the security, pay the employee and TAXES all around. There may even be a "kickback" to government employees (Donations to Elections, feed the inspectors kids, etc.)
So, if I send in a very valuable coin with some other coins into be graded, how do you know the coin grading company won't cheat you out of it by sending you back a different coin?
You can beat a video camera everytime even if they open it on camera and seal the box. When they are off camera they open the box again put the another coin in, reseal the box and bingo they got you.
I only deal with PCGS. I have never heard of any issues with them. If you deal with major grading services you shouldn’t have any problems. If you are worried about it take good quality pictures of it. They make magnified camera adapters that fit your cell phone. Most all coins have some distinctive marks on them.
I have some Quarters that I've kept for years that I'd like to sell. 1985 p stamp, 1977 no stamp, 1967 no stamp, 1974 no stamp. All look in good shape to me. Thanks, Jim
Question: Would you say, most coin value in the Red Book are 1/3 over priced. In the last 1.5 years the going prices on ebay have gone up 10 to 15 % or more. This is U.S. coins. Have you also noticed this or is in just me? Take care. Always enjoy your videos and the info you provide.
The reason I would say I don't know about these coins is to gain some knowledge from the coin dealer about the coins. Maybe they will say something I don't know already.
FYI Collectors creed; Value is realized by what the owner is willing to part with the item, and what the buyer is willing and able to pay. Possession is worth 9/10th; Anything is not worth as much when you “want” or “need” to sell it. When you want to buy anything it’s value rises depending on how bad you want it, or how bad others want it.
Like an idiot I sold my parents collection of 300+ Morgan's when I was younger to a coin shop in town and he was buying them at 30 - 60 a coin with 2 coins he paid 2500 for at the time..I highly regret it to this day.... Now that I'm into coin collecting I know he was just paying me spot and more than likely low balled me on those 2 coins. But then again they have a business to run. That's why I don't really like watching videos on Morgan's because it reminds me of the terrible mistakes I've made in my past. That doesn't mean avoid coin dealers just do your research before you go in and be fair, they'll do the same.
Don’t beat yourself up, I’ve done the same thing, we’ve all probably done it at some time or another. I sold some Morgan’s I was given from my grandfathers collection. I received what I thought was a good price, it was a fair price, yet regret selling now. That’s all in the past now tho I’ve learned from it and now I make better decisions. I’m sure your grandfather would be proud of for learning from that experience and how you too make better decisions now. Keep on collecting!
I do it different, if i buy from a dealer i tell him i have to pay costs like Ebay 10% and then I negotiate about the price if he doesnt ask a price 20-30% under the value, I buy nothing. If there is a bullmarket i do it different but nowadays, i pay less and if i want to sell i still can make a profit, there is always a dealer who needs cash.
Thanks for sharing this video on an informative and important subject in collecting. Recently discovered your channel and subscribed. I’ve collected on and off since I was a kid going to auto part swap meets with my dad. There would always be one or two old-timers with silver mercury dimes they were selling off and I started buying. There’s only a single full-time coin shop around these parts which I’m grateful for but wish there were more for getting those important second and third opinions. Thanks again.
If you are a coin collector or if you invest in physical precious metals, please makes sure you leave notes about wich coins you have and how to determine their value. If your family knows about the value of your stack / collection or they know about your notes and where to find them, they are way less likely to sell the coins way below their actual value if you pass away or if you should be involved in a accident/ long term illness wich leaves you unable to sell your assetts / deal with your affairs on your own in a situation of need.
I hate going to local coin dealer shops, I've had some bicentennial quarters that were in great conditions and we're worth thousands, they only wanted to give me $20 for all of them.
@@b-man1232 yeah i've seen some being sold for $1000 to $3500, and I was trying to get at least $1250 for a few that I had but they only wanted to give me $20
The only way is to put them for auction. And the only way to buy is from auction. Buying otherwise, you need to accept the higher cost. Conversely selling to dealers means getting below what you would get at auction. At auction the time might be a year to realise the value. Selling to a dealer means you get less but immediately.
This young man is correct. You'll many times see both coin shop owners and pawnbrokers only offering half of what a item is truly worth. They attribute it to cost overhead. It's a scam. They're just trying to play on peoples emotions. Don't be a fool. Shop your items around to various locations.
ive got a 1985 quarter that is maybe wrong planchete its either silver or nickle it weights right but it doesnt have any copper in it and a 1957 double die on the 9 and 7 and the b on liberty is filled up any idea on value
Interesting . I bought a coin collection in the 1970's. It's been sitting for some fifty years in my safe. I think I know what I have just by seeing what others have sold for. I've list each . About 200 are 1921-1935. The total 400 Morgans pretty much every year . I need to pay to have about 140 graded. I bought them very fine . In Phoenix not really looking to sell just get all graded.
I pull them out every few years. I have multiples of each year going back to the 1870's . Probably not a good thing to own several of each so I think I'll cut it in half put some on eBay , see if someone in Phoenix or Los Angeles wants to buy half . Or will just gift to kids .
Thanks alot how can I follow you on social media. I have 2 JFk dollar coins from 1964 where his hair is obviously accentuated and I think I'm sitting on some pretty valuable coins from my collection
All a person needs is a little patience and waiting to go to an auction where they might sell for a lot more than any dealers would pay you. Now I have some that have sold for really lots of money in some auctions, but when I looked at the appraising they were only worth face value or a bit more but on the auctions they sold for millions. So just bite your time, and wait, it will be worth the waiting.
There are a couple of dealers in the Madison, Wisconsin area that are not as honest as they should be. Dealer 1: a guy came in with uncirculated 90% silver Washington quarters. The dealer offered him the 90% buy price. The customer said I am going to go home, beat these with a hammer and then bring them back since they are junk silver to you. The dealer said "no, no, no don't do that." This same dealer made an offer to another customer for a handful (50+ of each) Barber quarters and Barber halves and again offered the standard junk silver buy price. The customer questioned it and the dealer admitted that they separate out the Barbers from the junk stack and sell them for more. Dealer 2: did the same thing with the Barbers, but on an even more egregious scale. The initial offer was laughable. When the customer called him out, he also admitted that he separates out the Barbers from regular junk and sells the common circulated ones for 2x-3x higher than regular junk silver. Yet he pays the same? After hearing about this, I won't do business with either dealer.
I have a 1967 Nickel in what I would say is 66 or better grade. (I’m being modest) I have not gotten it graded yet. Now what makes my nickel rare is that it has full steps. This coin is absolutely beautiful. I’m interested in selling it. Could you direct me to someone that would be interested in buying this? Would be happy to show you pictures.
Let's break some new known high ms 🎉 love your stuff man I really hope you like what I got for you listed cuz your going to absolutely love these 60s and 80s
Hey TT! I think i am in possesion of a error coin. An 2002 italian 20 cent euro with an error on the bottom right foot. I have heard that they go for lots but i dont know where to grade and sell it. I live in sweden.
Main problem is people take Red Book's "values" as 100% true and written in stone. Try looking actual happened and sold auction prices which tell somewhat authentic values ( That is if purchase situation is not intentionally manipulated or buyer substantially overpaid. ).
Would you take the time to look at bicentennial quarters if someone brought a couple rolls in or would you simply tell them they are just quarters worth 25 cents I would be very grateful for an honest opinion thank you
So frustrating dealing with most coin dealers. Years ago, one guy immediately pointed out my 1928 Philadelphia Peace dollar amongst five other coins and said "hold onto this one, it's a good date". He offered me $250. and even showed me his markup. Two more dealers looked at it and slid it aside with the other common dates and offered me $25. a piece. Even with a beautiful cased 1883 CC Morgan w/box, I had a guy say "these are everywhere", and offered me $75. I called the guy out and he admitted the coins were worth much more and had no excuse for lowballing me. There should be somewhere to report unscrupulous dealers that belong to the Numismatic Assoc.
Where do you even sell coins?
Dude, we have enough laws on the books that are not getting enforced. We don't need a law for everything. How about they make a law that we the people can't walk into a coin shop unless we have a certificate saying we took a coin collecting class for 3 months? See what I'm getting at?
Where in your dispute with those coin dealers do you think that YOU have a personal responsibility in understanding the very materials that YOU are bringing into a coin shop?
You are responsible for your own personal education.
Rule #1 in everything and all situations .... if you don't educate yourself on your situation, sooner or later someone will take advantage of you. To avoid getting taken advantage of, .... LEARN YOUR BUSINESS before talking to someone about giving you MONEY for what you own.
...
@@ThisUnderWorldOfDarkness I didn't say anything about a law. This is not about the public educating themselves. This is about a reputable organization not policing their members, which reduces their credibility. The ANA is a voluntary organization that requires members to sign a code of ethics. What good is that if they have no system for evaluating and monitoring the members? All I'm suggesting is for them to have a system for investigating and monitoring their members who use their status as a member to enhance their business. How does that not make sense?
@@ThisUnderWorldOfDarkness Hear, hear!
Doesn't pass the smell test.
Key statement, "there are a lot of dishonest coin dealers". I was shocked to hear this.
why the truth hurts
Now there's a shop
See how organized he is talking a lot but not saying nothing
Alot dishonest people in general. One day our AC went out. Simple fix but I didn't kno it at the time. I'm no Heating and Cooling guy so I wouldn't kno if it was a simple fix or not. First 2 companies I called told me "your unit is not repairable, you'll have to buy a brand new unit". Both said the same crap trying to get me to spend 10k. Btw, had to pay 100$ per service call just to be lied to. The 3rd company said "An animal or something chewed threw a wire". Literally a 20$ fix. About 100 all together including the service call.
Glad I called around before I got a loan for 10K$ I never needed thanks to some jerks that belong in Hell.
Make sure to talk to multiple experts besides 1 guy behind the counter buying your metals. To him, your clueless, that means your an easy way to make money. He wants something rare? "Il sell him this 20$ coin and say it's worth 120$".
That happens EVERYDAY! Please check your metal/product before letting someone take advantage. When 1 person gets fked over, that effects everyone who shops at said store. Not good for business.
🤣😂
I have been a numismatic and specializing in errors and varieties for over three decades. I think you hit the nail right on the head. Good job man.
I have a possible Extremely rare coin ( estate collection) is there a chance I can send you some pictures to you see what you think of it ?
Thank you for the great material in video. I am new to collecting and have amassed a fortune in coins and now I know what to do.
I have rare coins don’t know what to do with them
I have slots of errors need to be looked at
Thanks! You are such an honest/ethical person. It is so refreshing.
thanks you for being a fair coin dealer TT! We appreciate that so much sir!
Agreed...
Sir it's rare to find a truthful person these days...
I'd feel more apt to taking less from a coin if I felt the dealer was telling me the truth...
I've held on to my coins just because I have so many that I don't want the coin dealer to "do as u said in the video" and offer me said amount for one or two and say $50.00 for the rest...
U helped me fins motivation to look through my coins in sections so I can be prepared...
God bless u and please be safe...
@@timstiles9026 I won't be so sure he is so honest
It is not him honest , it is people like you being very naive
About 5 years ago I went all in on silver, I was concerned about ethical dealer, found a coin store that has been same owner, over 35 year's, I've been very happy with hi.
That's because you're an honest man and that's very rare
I inherited a cc Morgan dollar and sold it off for probably less then half is worth. Sucks. Needed money and didn't know what i know now. The guy definitely got me
Never act desperate like you have to sell it.
I think you did a great job at nicely letting folks know what they're in for. I've been a coin collector for 50+ years. And, I probably would have been a little more straightforward. The challenge with coin dealers is that they are much closer a flea market / garage sale business model than they are to a normal retail store model. So, you're dealing with honest dealers who are looking to score on a good "flea market" type find, which will include even ethical dealers. Plus, you're dealing with dishonest dealers who will do and say anything they can to lowball you. And, oftentimes, the person selling the coin is not a collector and not familiar with what they have. So, there are a number of factors going against you. I think the key is 1) get to know the other person, check reviews, and establish a personal relationship. This will allow you to weed out those in the latter category. Then, 2) educate yourself by doing some research and talking with multiple experts, especially those that you do not plan to sell to. You covered all of these very well in your video. Thank you.
Thanks for sharing.
Nowadays, with the internet, most people have no excuse for not finding the rough value of coins. People that I work with, have asked me about lots of coins. I will research them as best I can, however, I recommend a coin dealer that I have known for years and all of them have come back to me and thanked me for helping them. As I said earlier, it doesn't take a genius to get at least, some basic details about their coin/ coins. There you go, I've had my say.
Also, at least with U.S. coins, the Red Book only costs $15 at the most, and it has everything you could ever want to know about U.S. coins.
Never tell a dealer that you want to sell your coins to a friend but just want to know what they are worth. I always tell them then it's no longer a buy offer but an appraisal. $50 an hour .However , if you sell the coins or some to the dealer he may help you out ,but he's not there to help your friend and you do a private deal.
That's 100% correct.
One satisfied customer may earn you two future customers and one dissatisfied customer will lose you twenty. Pretty simple stuff.
Wish that I had a friend like you. It's going to come to the point one day where I'm going to have to sell off my old coins for my survival that my father & grandparents left me. It's troubling knowing that the wrong coin dealer could rob me blind from my retirement that I will have to depend on in my final years. I so worry for my future, I pray it works out for me in the end.
Thanks for the heads up. I'm trying sell my dads collection, i think i will research a few, then get estimates from a few Buyers to help figure who's honest and who's not.
Thank you so much. I have gotten a coin collection from my fathers estate and need to sell it for the estate. Great information for me
Big like number 135! Highly valuable information! Thank you so much for navigating us away from serious pitfalls!
I’ve sold to my coin dealer many times and with success. Sometimes he even gave me way more than the coin is worth lol... but I won’t complain about that!
That is awesome! There are definitely honest ones.
There are NO honest ones where I live. And the one that really screwed me over was PSCG listed Dealer in NC? So I can tell you I have not found one yet in four years+.
@@dhhenry7558 Soon there will be fewer honest ones anywhere. Dumps in Denver are growing and cheating harder than a used car dealer. Why do they risk pissing off newbies grieving the loss of a loved one?
I guess it depends where you go
If he gave you more than the coin is worth, he is not very smart.
Probably best to sell your collection before you die or when there is a bubble so your kids don’t get ripped off.
It is even better to teach your kids about metals from an early age.
Buying silver a little below spot and selling it to stackers for a few dollars over spot has made a good living for me. Tube videos have sold metal for me. So many people willing to lose money thinking they are investing. Thanks for the videos.
😭😭
Coin dealers are notorious for paying a $0.05 on a dollar if they can get away with it.
True!
@@TreasureTownCoins My local coin dealers here in Tucson, AZ mostly deal with gold coins from around the world worth 10's of thousands of dollars. They don't want to deal with pennies unless they're Wheat Penny varieties. And they go strictly by the coin error books. If it's not a listed variety, they don't want your coin, even if it's clear you have found a new variety that hasn't been discovered yet.
If I have a 1940 wheat penny with no errors on it, but it's in great shape, they will only offer me between .03 cents and .07 cents. Which means I would be losing money because it would cost me $2.00 in gas to get to the coin shop.
They say no one buys those kinds of pennies. If that's true, then I can see their side of it. Which makes me think, if I don't have a $10,000 coin, it's not worth my time to even try to sell it.
As for me, I'm not looking to become filthy rich.
I have some coins that I'm willing to let go of for .10 cents on the dollar, to make a fast sale for health food store supplements.
Not only are my local coin dealers not interested .... they're rude and snarky about it. That's the worst part. Getting talked down to from these coin dealers like they think their some upper class elites and I'm just some unwashed peasant who deserves to be treated like a snot rag because I'm not walking into their store with a $23,000 solid gold coin from Egypt or something.
..
Some dealers are con men. Worse, than pawn brokers. You always have the right to say no.
Thank you so much for your education of the how interact with dealers.
Coin dealers are some of the stingiest people on earth. I saw I guy at a coin show arguing over the price of a coin with a customer who wanted to sell. The dealer wouldn't come up 5 bucks on a 100 dollar coin, all while drinking his $4 bottle of coke from the concession stand.
Just one incident doesn't make it a reality for every deal. I have good friends at coinshows.I sell to people out of state and on the phone also.I deliver the coins and get paid well from dealers at coinshows.
😊@@kelseycurtis1546
Has to pay for that coke somehow. If the guy could get $5 more somewhere else, he should have just gone there. More then likely no one else was willing to pay that extra $5 either. The guy is running a buisness. Most coins are going to sit for 6 months or more. The longer they sit the higher the overhead that coin costs. Getting 80% for a coin that moves quickly is pretty much the average you will get, 50% to 70% for one's that take a while to move. People have a hard accepting this. Your choice is to accept it, sell it yourself & absorb the associated costs, or don't sell it.
A lot of deals are lost on a difference of 5 bucks. As a dealer you have a business and overhead. As a buyer you can decide to hold off or pay the extra 5 and not buy the vending machine cola cancer
Same in my country France. 😊😊,@@williamallen7836
I've been VERY fortunate with my local coin shop.. Here in west Texas, there are not very many coin dealers. The one legitimate coin shop within a 150-mile radius is a well-known, well-respected member of the community.
My biggest takeaway from getting to know him is that you can't put a price on honesty. He started with 1 shop in '82. He now owns several shops all over west Texas and has a thriving business. That's what happens when you play it straight and are more than fair (almost to a fault)
That is awesome!!
BigMike, I'm pretty sure that you and I shop at the same place (I'm in Midland).
If so, I absolutely agree that he's the most honest dealer that I've ever dealt with
Or maybe that's what happens when there's no competition? 🤔
Would like to send a pic of my coins to him.. what is the shop?
Which shop?? Can't find a honest guy in town.😢
You r the first one, to really be HONEST. I have many LINCOLN CENTs, from 1937 to 2009 I would like to SELL THEM ALL. I'm a RETIRED MARINE CORPS SNYPR. Can you HELP?
Thanks treasuretown host+viewers
for needful coin info!
NewYorkCity
An hour or two reasearching coins🤣😂🤣. I just started looking at my old change that I stashed away, and I’ve been “researching” for three solid weeks
Right, they are rare... butt has been melted into my chair for 2 weeks.
I have been going to a shop in New Jersey for close to 12 or 13 years now and they have always been very fair with me whether I am selling or buying.
That's awesome!
The long history with them definitely helps.
Im in New jersey may i ask the name of the place you go to ?
@@jameslittle265 Yeah, sure! Jersey Coin in Hazlet.
this is a really helpful video, thanks for posting it!!!
Thanks!
Fine line between selling yourself and doing the work, or, in effect, pay someone to do the work for you. How much is your time worth, how fast do you need the money, etc.
oh hello I had a question I've been watching your site and a lot of what you're saying applies to me and I was wondering is it not customary to give a receipt for the coins that were taken and purchased an itemized receipt
And the whole thing about bumping up the other coins that are set aside is a total reality thank you for your channel
Don't invest in precious metals with money that you're going to need for everyday living expenses. When it comes time to sell its better to come from a making profit angle than a " I have to sell it" angle and sell under your purchase price.
Thanks for the information! I watch your videos avidly! 😁👍
Thanks treasuretown host+viewers for quality info! Needful...!
If you’re not keen on getting ripped off selling your dad’s collection, why not just keep it? You’ll have something to remember him by, and over time, you just might pick up a new hobby!
Perhaps their father abused their them, so their children don't want anything to remind them of him. Perhaps they want to get rid of the bad memories, but at the same time, want to make sure when they sell it off, they get the right price. ... being afraid of getting ripped off is remedied by educating yourself, which is the point of these videos.
..
@@ThisUnderWorldOfDarkness Hey, we could all using some growing up. But you’re right…not all dads were good to their kids.
@@ThisUnderWorldOfDarkness
You need to get your mental state diagnosed buddy.
You are going around thread to thread spamming the same thing and even slandering a certain group of people.
Help yourself first before you can help any cause.
@Eric-dd8bk What group of people am I slandering? If you have something to say, then say it. Stop with the riddles. If you want to have a conversation with someone, try posting a complete thought. Oh, that's right. You really don't want to have a conversation, you just want to talk down to people right?
I wish I still had my dads. We started one as a family & my sister pawned it when he died without me knowing for god knows what. I have almost every coin we had by searching every day since.
Some great pointers. Definitely check out several dealers, and research the coins that can give you the most value.👍👍
Thanks!
I have lots of different old coins but where I can sell it?
Thanks so much. That was so helpful. Good to see you Christian.
dont go to a coin dealer. Go to a PCGS show and ask people there to certify your coins. Get your true worth.
Over 50 years ago, I inherited a coin collection, still in my ownership. Yeah, pennies, but from about 1900 to 1940, all types filled in, but a couple were not quite correct. The couple substitutions are also 1909, or so not junk. I just bought the latest coin guide, and plan on marking and knowing what the costs are more closely. The only problems are I don't want to pry them out to get a good look and sell them piecemeal. The card back has a dated description of how long the coins were collected, and given for my birth in 1939. The place I live has one coin dealer, so not much comparisons. How do I price out the display as framed, and with personal dated data, seems like that would increase the price a fair bit? Would you be interested in my sending info. on this ?
I would never sell my gold or silver bullion for less than spot price. I would call multiple LCS and be willing to drive 4 hours or more to get best price. If none offer spot, then I become their competitor and sell on Craigslist etc. I do not trust anyone.
Yeah waste gas driving to get spot.🙄
@@stewart5284 - Four hour drive is only about $35 in gas. I don’t see an issue. I wouldn’t make such a drive to sell 1 oz only. Duh.
A 4 hour drive to get the best price? Waste of time and gas for a couple bucks.
@@DrMatey215 - Wrong. Depends on how much is being sold. How much is 5 oz of gold worth? Difference in offer could he $hundreds. 4 hour drive is one $40 tank of gas. You gave no thought to this.
@@exmarine268 okay Jarhead, whatever you say.
To be a good coin dealer the 1st thing is you need to be a good thief ,,having had dealing with them for 50 yrs its true
You are not wrong about that. I agree they’re all thieves
Thanks for the info! You are spot on
Glad it was helpful!
Thank you for your Time and Info, it was very helpful. Have a blessed day and don't forget to Enjoy Life. From Bridgeport CT.
Thank you! You too!
What it comes down to is: The Store has to make a profit. EASY to buy, "precocious metal" & Coins. Not so easy to SELL! So much for investing. The Market Value is what the seller sells for, that means the Store has to make enough to Profit, pay the rent, pay the utilities, pay the security, pay the employee and TAXES all around. There may even be a "kickback" to government employees (Donations to Elections, feed the inspectors kids, etc.)
Sir! Thank you for all the helpful information shared to your viewers!
Thank you for talking about this! Great video!
My local coin dealers are super nice and do a lot of business!
Awesome!
So, if I send in a very valuable coin with some other coins into be graded, how do you know the coin grading company won't cheat you out of it by sending you back a different coin?
They won't - too much on the line and they have video cameras covering every step of the process.
If by chance that happens and it is Very rare they will bend over backwards to make it right. Like the man says too much on the line.
You can beat a video camera everytime even if they open it on camera and seal the box. When they are off camera they open the box again put the another coin in, reseal the box and bingo they got you.
I only deal with PCGS. I have never heard of any issues with them. If you deal with major grading services you shouldn’t have any problems. If you are worried about it take good quality pictures of it. They make magnified camera adapters that fit your cell phone. Most all coins have some distinctive marks on them.
Exactly, and if you do that your not very bright. Business has no honor anymore.
Never take coiins to pawn shops they will rip you off
where should I take them then
@@Luweezy coin shop i got two pawn shops near me, they lowball you dont get ripped off coin shop not pawn shops
Everytime!
I won't go to a pawn shop ta ask them for the time of day.
If you don't get the price you know is your worth
Just say goodbye
Idont have advertise about my coins exchange of south Africa please 🙏 help
My coins is.silverpleasr.leed.me.to.right.exhange
I have some Quarters that I've kept for years that I'd like to sell. 1985 p stamp, 1977 no stamp, 1967 no stamp, 1974 no stamp. All look in good shape to me. Thanks, Jim
Question: Would you say, most coin value in the Red Book are 1/3 over priced. In the last 1.5 years the going prices on ebay have gone up 10 to 15 % or more. This is U.S. coins. Have you also noticed this or is in just me? Take care. Always enjoy your videos and the info you provide.
Good information
Has been a very strong market recently - I think the sold eBay prices are a way better judge than Redbook.
@@TreasureTownCoins Thank you. Need to find out how to view that.
The reason I would say I don't know about these coins is to gain some knowledge from the coin dealer about the coins. Maybe they will say something I don't know already.
I have 53 lbs of quarters that are pre 1965
Which years are valuable and what am I looking for in each valuable year?
FYI
Collectors creed;
Value is realized by what the owner is willing to part with the item, and what the buyer is willing and able to pay.
Possession is worth 9/10th;
Anything is not worth as much when you “want” or “need” to sell it.
When you want to buy anything it’s value rises depending on how bad you want it, or how bad others want it.
Like an idiot I sold my parents collection of 300+ Morgan's when I was younger to a coin shop in town and he was buying them at 30 - 60 a coin with 2 coins he paid 2500 for at the time..I highly regret it to this day.... Now that I'm into coin collecting I know he was just paying me spot and more than likely low balled me on those 2 coins. But then again they have a business to run. That's why I don't really like watching videos on Morgan's because it reminds me of the terrible mistakes I've made in my past. That doesn't mean avoid coin dealers just do your research before you go in and be fair, they'll do the same.
Don’t beat yourself up, I’ve done the same thing, we’ve all probably done it at some time or another. I sold some Morgan’s I was given from my grandfathers collection. I received what I thought was a good price, it was a fair price, yet regret selling now. That’s all in the past now tho I’ve learned from it and now I make better decisions. I’m sure your grandfather would be proud of for learning from that experience and how you too make better decisions now. Keep on collecting!
I was watching you, that was very helpful, you are great. I have a few grading coins I want to sell, I don't know where to start.
I have some rare coins but don’t know where to sell or not much knowledge of the old and rare coins from still sitting in the box
I do it different, if i buy from a dealer i tell him i have to pay costs like Ebay 10% and then I negotiate about the price if he doesnt ask a price 20-30% under the value, I buy nothing. If there is a bullmarket i do it different but nowadays, i pay less and if i want to sell i still can make a profit, there is always a dealer who needs cash.
Thanks for sharing this video on an informative and important subject in collecting.
Recently discovered your channel and subscribed. I’ve collected on and off since I was a kid going to auto part swap meets with my dad. There would always be one or two old-timers with silver mercury dimes they were selling off and I started buying.
There’s only a single full-time coin shop around these parts which I’m grateful for but wish there were more for getting those important second and third opinions.
Thanks again.
I have a 1907 British penny King George V
Plus 1920 and 1921. KING George V and many others as well.
I got a couple coins I'm trying to get rid of some have Dye Damage and I got a 1955 Penny with double dye on the 55 and a 1963 black beauty
If you are a coin collector or if you invest in physical precious metals, please makes sure you leave notes about wich coins you have and how to determine their value.
If your family knows about the value of your stack / collection or they know about your notes and where to find them, they are way less likely to sell the coins way below their actual value if you pass away or if you should be involved in a accident/ long term illness wich leaves you unable to sell your assetts / deal with your affairs on your own in a situation of need.
Hello... coin man , can u answer a question? Why does it seem like double die are so important ? And can every year have them ?
I hate going to local coin dealer shops, I've had some bicentennial quarters that were in great conditions and we're worth thousands, they only wanted to give me $20 for all of them.
So sell them for thousands elsewhere
@@homerfry9234 That's what i'm trying to do lol
Wait, bicentennial quarters worth thousands.......whaaaaat?? Most raw one's are worth......a quarter.
@@b-man1232 yeah i've seen some being sold for $1000 to $3500, and I was trying to get at least $1250 for a few that I had but they only wanted to give me $20
Graded coins. Are. Worth. More ?
You at least know what they are!
The only way is to put them for auction.
And the only way to buy is from auction.
Buying otherwise, you need to accept the higher cost.
Conversely selling to dealers means getting below what you would get at auction.
At auction the time might be a year to realise the value.
Selling to a dealer means you get less but immediately.
Treasure Town, amazing
This young man is correct. You'll many times see both coin shop owners and pawnbrokers only offering half of what a item is truly worth. They attribute it to cost overhead. It's a scam. They're just trying to play on peoples emotions. Don't be a fool. Shop your items around to various locations.
Thanks for the Head's up Matt. 😃
Great advice ... coin dealers are market makers and your tips will help owners get a reasonable result
Absolutely!
thank you so much for your information
ive got a 1985 quarter that is maybe wrong planchete its either silver or nickle it weights right but it doesnt have any copper in it and a 1957 double die on the 9 and 7 and the b on liberty is filled up any idea on value
Interesting . I bought a coin collection in the 1970's. It's been sitting for some fifty years in my safe. I think I know what I have just by seeing what others have sold for. I've list each .
About 200 are 1921-1935. The total
400 Morgans pretty much every year . I need to pay to have about 140 graded. I bought them very fine .
In Phoenix not really looking to sell just get all graded.
I pull them out every few years. I have multiples of each year going back to the 1870's . Probably not a good thing to own several of each so I think I'll cut it in half put some on eBay , see if someone in Phoenix or Los Angeles wants to buy half . Or will just gift to kids .
Thanks alot how can I follow you on social media. I have 2 JFk dollar coins from 1964 where his hair is obviously accentuated and I think I'm sitting on some pretty valuable coins from my collection
If I send a coin in, would you look at it to see it was worth sending for grading
All a person needs is a little patience and waiting to go to an auction where they might sell for a lot more than any dealers would pay you. Now I have some that have sold for really lots of money in some auctions, but when I looked at the appraising they were only worth face value or a bit more but on the auctions they sold for millions. So just bite your time, and wait, it will be worth the waiting.
Thanks for explaining that!!
There are a couple of dealers in the Madison, Wisconsin area that are not as honest as they should be.
Dealer 1: a guy came in with uncirculated 90% silver Washington quarters. The dealer offered him the 90% buy price. The customer said I am going to go home, beat these with a hammer and then bring them back since they are junk silver to you. The dealer said "no, no, no don't do that." This same dealer made an offer to another customer for a handful (50+ of each) Barber quarters and Barber halves and again offered the standard junk silver buy price. The customer questioned it and the dealer admitted that they separate out the Barbers from the junk stack and sell them for more.
Dealer 2: did the same thing with the Barbers, but on an even more egregious scale. The initial offer was laughable. When the customer called him out, he also admitted that he separates out the Barbers from regular junk and sells the common circulated ones for 2x-3x higher than regular junk silver. Yet he pays the same? After hearing about this, I won't do business with either dealer.
I have a 1967 Nickel in what I would say is 66 or better grade. (I’m being modest) I have not gotten it graded yet. Now what makes my nickel rare is that it has full steps. This coin is absolutely beautiful. I’m interested in selling it. Could you direct me to someone that would be interested in buying this? Would be happy to show you pictures.
Very good info. Thank you.
Let's break some new known high ms 🎉 love your stuff man I really hope you like what I got for you listed cuz your going to absolutely love these 60s and 80s
what can ONE do to ensure THIER coin is not switched by appraiser s when getting graded & how go about knowing some how it's your same coin
I will say they take advantage and they communicate with each others
Hi,where to sell the old south Africa coins here in namibia 🇳🇦 but not with the coins dealers
I have a 1977, 1 cent Libraty is it worth holding on to, I’m wonting to sell it , if it worth anything.
Has anyone heard of an error 1985 penny with the D mint mark above the word Liberty on the obverse side?
I have a 1943 cooper penny where can I sell it and for how much oh what what that penny is worth thank you😊
Do you know any reputable appraisers in Massachusetts?
With old coins its more difficult. New coins are usually straightforward... pay near the spot price of silver or gold.
What would you pay for 1968 and72 dime w/out mint mark
Is it okay to clean your dirty coins? If it is okay what do you use? Thanks in advance 😊
Whenever you sell anything to a store or a retailer...you are not going to get the best price.
Hey TT! I think i am in possesion of a error coin. An 2002 italian 20 cent euro with an error on the bottom right foot. I have heard that they go for lots but i dont know where to grade and sell it. I live in sweden.
insightful and proper, good channel. helpful host. Please continue.
Where could I sell my 1982 Small date pennies at? What would it take on my end? Please help, thanks
I have some coins that are ddo&ddr,rpm it’s 1999d nickel and I would like to know how much the value?
Very much appreciate your honesty and candor. So refereshing. You would not happen to live in northern California?
Main problem is people take Red Book's "values" as 100% true and written in stone. Try looking actual happened and sold auction prices which tell somewhat authentic values ( That is if purchase situation is not intentionally manipulated or buyer substantially overpaid. ).
Would you take the time to look at bicentennial quarters if someone brought a couple rolls in or would you simply tell them they are just quarters worth 25 cents I would be very grateful for an honest opinion thank you