Silver Deals of a Litetime!

[MunkyMan95]

One of thse deals happened a few years back, but another was just 2 months ago.

 

1) I have a friend that used to be a coin collector. I told him that I would buy his Mercs at 2X face, and he thought he was making a deal so he said "sure!" On that same day, he had a 2000 Silver Eagle and I told him I'd give him $3 for it, and naturally he thought he was getting a great deal, so again he said "sure!" Now the dimes he gave me are worth about $20 melt and the silver eagle is about $10!

 

2) I had an oppurtunity a few years back to buy a roll of Jefferson War Nickels. They were not necessarily in the best condition, but they were only 20c each so I bought me a roll for about $8 and now those same nickels melt for $20! Go me!

[Bruceswar]

nice buys...

[RGT]

1) I have a coin collector that used to be a friend.

 

You sound like a stand-up guy.

[MunkyMan95]

That's not right... He's still my friend. He said he was planning on spending the coins in the snack machine

[Bruceswar]

I would like to see try and put a Silver Eagle in a snack machine. That would be a sight.

[jtryka]

Wow, I personally can't see myself taking advantage of any of my friends like that. A couple years ago, I had a friend that wanted to sell some old coins he had laying around, a few common peace dollars, some smaller silver coins, all common, and a 1931 Balboa. I paid him a little above melt for the silver dollars, and melt for the other coins including the balboa, and I even felt a little bad about that since I knew nothing of Panamanian coinage and thought it might have been more valuable. In your case, I would have paid the person melt for the mercs since they generally sell for a little premium to melt and melt for the eagle since they usually sell for a couple dollars over spot. Sure my profit might have only been a few bucks instread of $20, but that's a small price to pay for sleeping well.

[MunkyMan95]

I know it sounds bad, but he was happy to get rid of them. They were laying behind his computer desk in a Ziploc bag. He had no idea they were there until I asked.

[smullen]

What were you doing under his desk? J/P....

 

If you told him what they were worth and he still wanted to get rid of them that cheap, What could you do... You told him, so you were fair about it and did not take advantag of him... Thats good by me...