Coin Dealers Hate These Coin Lots - Junk Coins Coin Shops Don't Want To Buy
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- Опубліковано 30 кві 2023
- Coin Dealers Hate These Coin Lots - Junk Coins Coin Shops Don't Want To Buy
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As a business owner, it's a capital mistake to refuse to deal with this sort of thing. Those low-dollar sales you might get from the junk box add up. Additionally it creates foot traffic into your business. A lot of the people coming in for the low-dollar stuff may be beginning collectors with limited budgets but over time their tastes (and budgets) may grow and they turn into steady repeat customers...which is the lifeblood of any retail business.
If you watch the video you will see that I welcome them. I enjoy these.
@@CoinHELPu Oh I wasn't clear, Daniel, I know you like them, but as you said in your video many dealers do not. I should have been more clear about who I was speaking about. You are the type of dealer that clearly has an abiding love of coins of all types, which is nice. I see too many dealers that are simply about the dollars and not about the hobby. We see the same type of people get into any kind of collectible sales-coins, comics, toys, sports/Pokemon/game cards, antiques, militaria, etc., etc. They may not have any real love for the field, they simply like the money, and are usually the kind of dealer that gets a bad rep to cut-throat trading. You are absolutely NOT that sort!
I can see where those middle of the road, mixed lots, would be time consuming, take up space and would be difficult to sell.I would put them in lots as 'as is' after you pick out the better coins.If the seller expects alot for these, just tell them I am sorry but that is the absolute most I can pay for this and still expect to make a little money.
One person's junk is another person's treasure! I don't normally do this, but at a coin show last month I found a bronze 1959 medallion commemorating Hawaii as the 50th US state. It was only $10 so I bought it. My dream trip is to someday take my wife to Hawaii. This medallion sits on my desk as a reminder. Some day we'll get there! Thanks Daniel.
I had a coin dealer lecture me on how I should collect coins. I have never returned to their store.
Although these coins are not gems or rare and therefore not profitable for a coin shop, this does not mean that someone is not interested in adding them to a personal collection.
Everyone collects coins for a different reason.
The right way to collect is when you're having fun (and not getting terrible deals along the way). That's how you collect coins.
@@leinbajr Absolutely!
I buy for 2 reasons, one is to stack, there price and resale are key. The other is jewelery or something you just like and never plan to sell, like my 1/2 oz Chinese Panda neclace my mom brought back from a trip to China in '86. Sadly times being what they are, I seldom wear it, or any nice watches. Look like a target, you'll get hit like one. Grey man tactics can save you a lot of trouble.
Dude go to Grass Valley CA and hit up the coin shop…There’s Literal MORGANS In EVERY crevice of the store that’s NOT where the “Public” be…It’s Crazy I’ll get a Photo of the place if I can
The coin dealer is just trying to make a living.
These "junk" coins are perfect for beginner coin collectors who are interested in the design and history of coins but don't want to break the bank to start their lifetime hobby.
As much as I love American coinage, I love world coins. I've been putting a collection together from the 1500s through the present. Amazing to see "coins" which were nothing more than a chunk of metal with a crude stamp, to how coins eventually were made in perfect circles. Its fascinating to me. Also the story that they tell about world history. I collect the good, the bad, and the ugly. You need all 3 to paint an accurate picture of world history.
Thanks for the trip down memory lane. I’ve always loved the “junk” boxes and still do. I always bid on them in auctions for all the reasons you stated. I love the known history of the coin as well as the possibility who handled the coin, Abe,Grant or whom ever. Thanks for all you do.
I am a small collector with a small budget.I buy what I enjoy while knowing that I will not get no where what I have spent.I collect for the enjoyment.What ever I get when I eventually sell my collection is what I get monetarily.I'm not in it for big profit.
Put all that junk in a box and send my way! 😂
Thank you very much!
My local coin shop buys everything. I brought in 2 boxes of gem and junk coins from an estate. Shop paid more than the on-line prices I found. The estate was very pleased.
A lot of people buy the Red Book, and assume because a coin is listed and has a value, that a coin dealer will buy it from them to resell. Not being in the coin business, they don't realize that not too many people come in looking to buy a 1946 Jefferson nickel or a 1958-D wheat penny. Even some Barber silver coins are just bought and sold as junk silver, and even some damaged seated coins meet the same fate
I dig those eclectic coin collections, just a bit of this and a bit of that.
Reminds me of collecting as a kid and think wow I have a treasure.
I love the scratch and dent stuff; it's been a good source for silver at my local coin shop. Finding coins with history associated is a lot of fun. I have scored more unique & interesting coins in the foreign "junk" bin than anywhere else. A few weeks ago I found a 1,200 year old dirham that was in spectacular shape and got a very reasonable price on it. Last year I found a 2 reale struck in Mexico during the reign of Charles & Johanna (1570s or thereabouts). It's unfortunate so many regard this stuff as junk...these coins have crossed oceans on ships, been in the pockets of colonial militiamen...it goes on. This kind of stuff is coin heaven for me.
Anything historical (especially super old stuff) is awesome in my book.
One man’s “junk” is another man’s “treasure,” eh? That’s how I see it. I know the difference between “fresh” high grade, rare coins with a strong market demand (most of which are found in slabs these days), and the more common “junk” coins that aren’t going to make anyone rich but….if collected for the right reason, can still provide education, entertainment, challenge and fun to young numismatists or adult collectors of modest means. ALL coins are potentially collectible. It just depends on what YOU want to collect and every individual is entitled to collect whatever damn well appeals to them. That’s how I see it as a hobbyist. Only professional coin dealers have to take a more hard-nosed view or they will soon be out of business.
I don't know anybody would Hate that junk. I think it is very interesting and would buy it.
I just started collecting. I’ve been buying slabbed Lincoln pennies. Trying to get 1950 to 2023. P, D and S. It’s a challenge. I’m just having fun with it.
Fun is what it should be.
In These troubled times collectors need excellent advice and your channel gives it ! Thanks for your videos.
If you are selling foreign you have to sell in bulk and seed it. That is how I got rid of 4 pounds of foreign I have accumulated to the years. Sold it to a dealer for $4 a pound. They were pre-Euro coins and put as much Asia and Africa. I seed it with a couple of Nazi pfenning that I didn't want. I also sold 3 pounds of mainly British pre-decimal low quality for $6 a pound. This time I seeded it with Queen Elizabeth's father King George. Make it all ready for immediate re-sale for the dealer.
I like that you brought up the whole thing about learning history by looking up who was on the coin and why. That New Zealand 6d Says "King Emporor" because he's the king of England and emperor of India. In 1947 India gained independence so British & commonwealth coinage removed "ET IND: IMP:" (et Indiae Imperator/and emperor of india) from the legend of the coinage to recognize India's independence. It's that bit of info there that let's you know why some 47-48 coins can can be scarcer because they had to make new obverse dies in England and ship them out to the conmonwealth mints. Some didnt arrive till very late 1948. I love the little history lessons you get on the coins. Makes them so much more interesting.
The sad thing is dealers are the ones that sold these coins, sometimes at a big mark-up. Most dealers just sell the pile to be rid of it. This one dealer at this coin show every month, on mecury dimes the face wears faster so and he had a lot of these dimes. Obverse gets VG20 Reverse gets xf 45 and he would split the difference. Nice guy to deal with. Thats another thing about coins dealers bring all kinds of that trash to shows sell and sell and they don't have nice ones, there's probably a shortage of good coins
Love it. I have coins from all over the world, from travels. Some truly are works of art on their designs. European countries had some beautiful coins before the Euros. Eventually, coins (currency) will become historic. Sad.
I asked my LCS before taking my foreign money in and since they said they would take a look, I didn't mind bringing it in... they purchased all of it, and I got a few bucks!
Thank you Daniel! I do have some of those foreign coins! I like the history of them and I am trying to get some from every country I can! Just something about the old coins, US and others! 👍
Junk, yes…but fun to look through, and an all-around nice video.
The old stuff you call junk will be the seed to get youngsters into coin collecting. Some LCS owners can be smug.
I bought/buy old US coins as long as they have a date for the Grandchildren to learn with.
Watch the video and you will see I like these lots and use them to make our scratch and dent and for our auctions and when people come into the coin shop. Including kids.
Nothing to lose, it's a win-win collection. There's always a value into it. Right time pays off.
Daniel, I think you still have a collectors heart even though you are a business. That's why you consider buying the common stuff despite it's low profit potential. That's cool.😎 But I imagine a dealer that turns too much away will lose potential customers too.
Unfortunately " collector" coin dealers are a dying breed. I moved down to the Tampa area several years ago and decided to go to some shops that still advertised as " coin Dealers".
Most had turned in " Bullion " dealers and one admitted to me that in the last 3 years not one person came into his shop looking for what most people would call collector coins.
He's been surviving on people selling him gold and silver and told me he plans on closing up after 43 years in business.
Album fills and then work on upgrading as you go.
I love that kind of junk! ❤
To me, that kind of stuff is treasure. It was treasure when I first started collecting in 1998. It still is treasure to me. It shall always be treasure for as long as I’ve got left here on this Earth.
I became addicted to collecting coins after my father left me a fraction of his coins and collections. I fact I went through a lot of money buying coins to help fill my father’s collections but like I said, I burnt through a good amount of my inheritance buying coins. I would be on eBay late at night so my wife wouldn’t know. But somehow I managed to get through it and I came out still standing.
You did an excellent job with this video. I’m sure that a lot of newcomers are definitely learning about coins from your videos. I myself was particularly impressed with the foreign coins. Especially the age and condition.
I started doing some foreign coins when I didn’t have any money to buy US coins and this definitely filled the bill.
Or you could buy a world coin book and that would give you an idea of how much the coin is worth.
In my experience many of the prices in the world coin books are unlikely to be realized in actual sales.
Thanks for youtube videos on coins. Much appreciated. DWR
I recently started Stacking, no clue as to what to buy, ended up purchasing oz Silver Maple Leaf's. Mostly because they are pure Silver 9999, no mistake on value.
After first purchase, that's all I collect, now believe it was the wise pick!
So far, about 40lbs of them, buried them in the woods!
fyi, you'll never find them!
....hope the kids can?
I have no problem with folks burying silver coins. If people had not done so in the past what would metal detectorists have to look for these days? I see it as one hobby feeding another! LOL😂
Fun!! Thanx
Thank you again, Mr. Daniel like always. I really love these kind of videos. I like how you could literally get a full nickel set except for the 1950 D. That’s good because it makes it sort of affordable to get new people into the hobby. They can complete the entire set by literally purchasing one regular nickel and possibly a couple of the silver nickels. That’s what we need is to get new people into the hobby, and not just doing it to flip the coins.
I have a few of those myself they are fun to go through and look at good video thank you
Very fun show.
I would have loved to have found that lot... Gotta take the bad with the good. I would have bought it all.. lol
I wish I lived near your shop! Such cool stuff. Thanks for sharing!
Another educational video. Enjoy the history of all coins. Thanks Daniel for posting great videos!
Lots like those are fun to look through. Sometimes there is a hidden gem.
You are a pro at finding gems.👍
Nice video. I enjoy looking at old coins from different places.
Hi Koin Kollector! Me too! I just subscribed to your channel! 😎
Great video. I imagine that stacks of clad modern proof sets and overpriced and overpackaged internet company lots of platinum plated quarters, etc. are also on the same list.
Back in the day I used to buy the real cheap wheat penny roles and pick out a few then circulate the rest for coin role hunters. You`d be surprised at how that can spark people back into coin collecting when they find one that upgrades a coin in their book. Cheaper than advertising.
I would say the 10th century Liberia coin is one of the most fascinating as it would be the year Liberia claimed itself an independent nation. The coin in the condition shown would sell for about $5 - 7 according to NGC's world coin price guide. Maybe a little more as it isn't a coin you would see in the US everyday.
4:56 The german 10 Pfennig can be exchanged in Germany In a Bundesbank for 5 eurocents.
Interesting video to see how coin shops look at lower grade items that come in. Wouldn't mind seeing another like it down the road. Thanks!
Good Morning Daniel!☕ Happy May Day! If I lived near you, I'd drop by a May Basket full of "junk" just to aggravate you!😄😄😄
It doesn't aggravate me, but other dealers it does. At least I've heard them complain. lol
looks like most of the stuff I hated going thru and then the customer gets mad at you,
You are awesome❤
Dear sir , Hey I don't remember the "long John Silver's) coins! I would like those. Cool.
This looks like typical garage sale coins. I enjoyed this video.
Thanks for sharing
I started stacking 1 oz rounds a few weeks ago. Up to 30 oz and 6 gs of gold. Thinking about buying a bunch of junk silver to hold.
Thanks for the info.
Very interesting. I myself just found a small box my dad had of just some foreign coins. I imagine they were things he got in change over the years and set aside as he didn't do a lot of traveling outside the US. Taking a closer look to see if any are silver and looking at dates and where they originated.
Good video Daniel, I love foreign coins
Good and essential video. I check coin rolls and had a rather frustrating experience - found a 1926-D Lincoln cent. If it had been in VF condition or even F I would have kept it as it would have several dollars value but it was very worn and damage to it even though the date and mint could be seen. I just put it back in circulation.
I do keep "pocket change" but I try to find those in uncirculated condition or AU and about once a year review what I have to see what I should part with.
Another great video Daniel with great information. 🙂👍
I like seeing uncommon coins. Very cool video and educational. All of your channels content is educational and fun. One of my favorite metals and coin channel.
Thank you Daniel!
It's all cool in my opinion 🎉
Thank you!
Hi Upnorth Collector! I love your channel icon! Nice! 😎
Actually have that coin!
@@upnorthcollector3267 Beautiful! 😎
Fun Video! There were a few foreign coins that were interesting to look at!
Learn from you every video you make...
I enjoy buying these but many coin dealers do not.
Coin Dealers Hate These Coin Lots - Junk Coins Coin Shops Don't Want To Buy
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Thanks for all the tips, Daniel!
Thanks for the video.
I like the great coins daniel Thank you for the good vedio 🎉👍
Hi PCcoinstar! Yes, nice coins! I've subscribed to your channel! 😎
I like the old Mexican silver coin in that lot.
Hi Tom's coins 2021! Yes, absolutely! I've subscribed to your channel! Nice video content! 😎
Occasionally find junk coin collections at auction but some bidders are so intent on winning they bid up more then the value of the coins so I drop out. Have on occasion gotten a good deal though and found some interesting coins.
Daniel, Would like to say thank you for the time you put into making these videos. Please keep in up. You seem like a reliable, professional. And would like to come in there and do business. Would like to see some videos on how you price more of stuff like this lower dollar items.
Now I’m hungry for Long John Silvers
Coins are fun. Who cares what it's worth. I'd be happy with all of these.
I have to care since people expect me to pay them a fair price then I have to sell them.
@@CoinHELPu I'm not a big time collector, just a metal detecting geek!
We appreciate your videos !
I guess in Ohio you don't see a lot of Canadian coins in your change, but in the Detroit area we've always got a lot of it, and it's one of the reasons I've always collected Canadian. (One reason is that Canadian has almost always been 75-80 cents on the U.S. dollar, so guys selling parking (for example) would give you all Canadian coins in your change.)
On the Nickels, you want to look for 1942-45 War Nickels were 35% silver so $1 FV will net over an ounce.
I’d love to be a fly on the wall when this stuff comes into a coin shop. 😂😂😂
I hope to do those videos in the future. I don’t buy them any different than any other coin lot.
Another awesome video.
Love all your videos. I have plenty 2020 pennies and they seem to have a doubled ear. Is that possible?
❤❤❤❤❤❤❤❤❤
Stack rounds if you must or be a numismatist (collect coin rarities)
Keep them separate!
Coins are money issued by governments.
Rounds are not coins and rare rounds have about as much substance as the Franklin Mint.
Rounds will go into the melting pot with everything else...
Good video Daniel!
I love going through junk lol
Interesting video
foreign coins are not all trash.. some people collect any coin, sort them according to metal.. sold them to stacker with some survivalist flavor.. some canadian coin are almost pure nickel. while most old coins world over are cupro nickel.. in SHTF condition, copper coins are good enough to pay for lunch. more valuable than aluminum coins. as scrap metal copper usually around 4 to 5 times more valuable than aluminum.
This one was fun to watch. Can you do more videos like this or a collection you are seeing for the first time?
Generally, I would never trust the words of coin “dealer” to buy anyone ‘s old coins. I know a couple elderly relatives who were absolutely ripped off. No scruples whatsoever.
Most coin dealers do not do that, so you can’t judge an entire Industry on a small number of experiences. Also, not being an expert yourself, I question your knowledge in coin values and appraising collections and the fact you was being nosy and often you don’t see the entire process when you’re just listening in and peaking.
Dan what is your website where you're selling the 2021 Eagles
I see those Long John Silver tokens every now and then - they go for three bucks or so when I see them in Canada.
Wow, what a can of worms.Relax people.
I understand this is a 3 month old video, but do you still have that 1991 silver eagle? I don't see it listed on your site. Thanks!
No I don’t
what could i exspect silver dealers to pay for circulation silver canadian per 100$ face value todays price if melted would be 2400$ cad would a dealer wanted to pay $1950 be a insult should it be closer to like say 2100$ just curious thanks
That's pretty much a pile of junk you find in Grandma's nightstand.
What happens if we have a bit of both junk like this and gems like what you picked out? If we know what we are talking about then bring the gems forward to you to get more value out of our collections?
I pay more for them when people come in. I mentioned what I paid for some of this. It was the same as I pay any customer.
never sell your coins to a coin shop always sell them at a flea market. You’ll make bunny, coin shops have overhead.
Why are pirates always angry? They just RRRRR.
What has 8 legs 8 eyes and 8 arms....8 Pirates!
I hate these... Turns out I love these.
There's the video 😂
I'm no expert, but I'm thinking those "Long John Silver" coins don't really have any melt value . . .
They are aluminum, about .30 a pound.
I note you never looked at the good-for token. Is it because you don't know anything about them (which seems to be the case with most coin dealers) or because you save them all for yourself (also the case with most coin dealers)?
I buy those junk silvers, just to have the silver
I'm surprised you don't like buying tarnished Silver Eagles. Most of my Eagles and Maple Leafs has some sort of tarnish.
I too wish people would change their mind on these.. even raw cull Morgan's should sell in anyone's shop
I buy and sell them all the time but customers prefer white coins over toned unless it’s eye appealing.
Depends on what side of the table your on. If you are selling YOUR eagle you will insist that the tarnish is no big deal. But if your BUYING you will tell the seller those coins are all tarnished I wont pay that much. 😁