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Hey bad ass dude, I totally get what you're saying and definitely follow the Cherry pickers guide, but the lighter stuff like you're saying dude if I'm searching I'm going to look at it / for it if you know what I mean
I sometimes “overpay” for coins that are colorized or shaped like a rhino or whatever. It’s worth it to me to have a few fun pieces that look at more than another silver Eagle or Buffalo round.
@@JamesBond-st4qu That's a lot of the value: (1) YOU like it; (2) YOU didn't spend any effort or time getting it. Now, do people communicate this to their heirs? Not often. But most people understand what they're getting from the Bradford Exchange: if you're 70 and just want something nice, the last thing you want to do at that age is research.
You're a great guy man. I hope that when I pass away my family doesn't get screwed over. You are a kind soul. Thank you for helping families get through tough times.
While I don't personally buy that kind of silver it is still quite a collection. The person obviously enjoyed those items and while I certainly wouldn't recommend doing that at least they didn't blow it all at the casino. In the end they still left the family with something more than nothing.
10:44 Rule #1... You should never rely on, expect, or depend on someone else's wealth for your future. Always provide the best financial security you can for your own future. Nothing is for certain.
The owner of the Vermillion shop in Florida says he doesn't own any silver. The reason being is that he says he sees what happens to the collections when the people collecting them die. They all get turned into his shop to process by family members who could care less about it. They just want the fiat.
This is a typical novice and /or elderly collector who made many spontaneous purchases. My great aunt passed away and her children thought she had a fortune wrapped up in a coin collection. The entire collection appraised for barely $1500. Gold plated state quarters and modern proof sets mostly, she probably paid 3 times more than the appraisal
It is obvious that the buyer was not doing due diligence. BUT, there are times when you just like the collection. Like George Carlin said, "Nail two things together that have never been nailed together before then some schmuck will buy it."
Not to mention the fact that what are you gonna do with that box? sit on your mantle? somebody breaks into your house & they take the box. They don’t even need the key and they’re gonna sell it for nothin. What a waste.
If the person that bought these enjoyed collecting them, I don’t see anything wrong with it. Whoever collected them is the one that worked to be able to buy them. If this is the way they got the most enjoyment from collecting, when they pass away, what difference does it make if whoever inherited them doesn’t get as much for selling them as they would if they had collected a different way? The person that sold this collection should be thankful that this collection was passed to them. Just my opinion
@@greggmason8604 I tend to agree with you he/she could have spent the money on drink drugs travel lots of things in the end it comes down to if you get enjoyment out of it that is all that really as long as they do not think that they will go up in value for there children.
I’m having to deal with that very problem right now with the stuff that I’m getting from my father. Any of the silver coins that he has given me these cases? I’ve taken them out of the cases and put them into tubes and put them in my silver stack. Same for the gold coin collection that he paid $750 per coin for two 1 dollar coins, two quarter Eagles and two half Eagles. $4500 for six gold coins that have $2200 of gold. Perhaps worth a bit more as coins given their age but not $4500!
I'd say this collection was an EPIC FAIL 👎👎 All that stuff is what the scammers sell to unsuspecting victims. Such a shame. Another reason why people should watch your videos, Daniel. Thanks for sharing.
I can only say that the person who bought these got a great deal of pleasure collecting and accumulating. Doing something good for their family. That was their life and what was important to them. In that way it's an epic collection. People do that with property, art, bitcoin, NFTs, baseball cards ... there's no end to the things people collect.. Thanks for the tips for collectors who need guidance. we all could use some of that. 💕
I'm a collector in the UK, and we have a similar issue. There are loads of companies with official-sounding names (such as "London Mint Office", "Hattons of London") that sell very overpriced "collector coins" that are worth very little over melt value. Ive heard the term "Granny bait" being used to describe them, and it's very fitting imo. Incidentally, i just bought the same case as in 9:40, and it's pretty nice for what it is! The difference is, I only paid £15 for it...
Good show. Going to the stores I rarely see the young collect. There is one kid that comes in. He seems to buy silver slabs. He's probably 10 and comes with him mom. Great to see.
My grandmother apparently had a large coin collection but i can only guess someone came through and swiped it...however buried deep down in an old drawer was a 1886 morgan dollar. Its the only thing of hers i have and its absolutely priceless to me.
I stack all kinds of silver that I buy cheap. Recently I was talking to a coworker and he said that he's been buying gold plated "tribute" coins to leave to his granddaughter. It broke my heart.
buy silver and gold bullion straight from mass dealers like apmex, the only holder i need is cardboard, poly and staples to keep off fingerprints. so I am buying mostly metal, all sovereign because that's how I like it. I like to support local dealers too, they need business.
Exactly. It really annoys me that people buy gold from Costco instead of LCS’s. I get they are cheaper but do we have to literally get everything from a big box store or massive chain!
Well, not all coins shops are created equal. Last I checked, my LCS wanted double the premium that APMEX was asking on generic silver rounds/bars. They also tried to convince me, that I didn't know anything and their price was unbeatable. Ampex is also on the higher side of premiums, IMO.
I'm dealing with one of these collections right now from my mother-in- law. Bradford, PCS, American Mint, Littleton, Mystic, etc. We've thrown away a dumpster full of display cases. I'm collecting the regular coins in albums, selling much of valuable stuff at a dealer, and trying to figure out what to do with the junk.
I had 4 deadbeat grandparents who were lousy parents and lousy grand parents. On top of that they were into nothing. Well they were into getting drunk and watching tv. No hobbies, no interests. One had a few coins they kept from their change. No stamps, no sports cards. Just a life of tv, booze and fighting in front of their kids. The one grandma did buy a few elvis whiskey bottles and state plates she thought were going to be part of her retirement plan. Of course after 40 years they were worth nothing. Just people that had no interest in anything, especially their grandkids, and didnt know anything. And didnt want to know anything. Just a life of booze, snacks and tv. So yeah, not much left to me by them.
@@SHANECatLovinActivistHistoriando your best to cut what you don’t need (fast food, coffee, etc) and invest in physical stuff. I’m sitting on expensive rifles that haven’t been imported or made since 2011 and the price has quadrupled on them making them 5 figures each
When my grandfather began collecting coins there was not much information available. He obtained his items basically by mail order in the 1960s. He knew enough to buy directly from the US government. My first silver eagles came from one of those middle of night shows and commemoratives from Kmart in the 1980s. Times have evolved. Sometimes when I am sitting and waiting in the coin shop, I watch family members cry openly in shame and horror at some of these enormous magazine purchased collections. I see many coin channels never give any historical perspectives as to how these type of collections happened. Silver stackers have really changed the silver, bullion, gold, and numismatic game. My brother who was homeless taught me about silver stacking when most family members would just tell him to “shut the f…. up” I laugh now, because he is the one that inherited grandpa’s collection.
Thanks Daniel. When I first started out in this hobby, I made some mistakes. But I was fortunate enough to be able to watch videos like these to warn me of some of the less than ethical companies out there overcharging on their products. I really appreciate your help in educating the masses. Keep 'em coming Daniel!!!
I've been saying for years that the Proof-69 or 70 GRADED Silver Eagles is a JOKE! Why can't the grading companies just grade them as "authentic" and leave it at that? Of course a huge majority are going to come back in high grades! Some of these grading companies are as guilty as some of the coin dealers! Also, companies like ICG and some of the TV shows are just taking advantage of seniors!
@JaredR-l4j - grades obviously matters when pricing Morgan's, etc. ASE almost always look like a 69 or 70. I kinda agree on the 70's but any less than that is not much more money than a beautiful raw one. The Grading Companies LOVE IT...obviously, they get paid to grade. Also, grading a modern coin is beyond boring....it's that 1893 "S" that gets the blood pressure up and adds excitement!
Some of what my dad paid for things like this - BU WWII Mercury dime set, 41-45 from all 3 mints - $19 a coin. Presidential $1 plated in gold and platinum, then coated in a clear resin to keep the absolutely thinnest possible plating - $25 a coin Indian head cents - 25, $18 a coin. 6 Morgans, between them all at least one of each mint mark - $200 a coin and 3 of them were 1921… Then he got two sets of presidential “coins”, 1 oz of silver each - $99 a coin. Some others as well that I’m not sure how much they cost. Gold “bills” for each state. Plated state quarters. And now he’s starting a silver proof set of every quarter from 1999 on, at about $33 a coin!!!
I only have these kind of things in my collection for 3 reasons. Inherit and personally like. I also get boxed commemorative silver from my LCS when he has them because he just sells them for loose coin price, which means he only pays that.
Another benefit of buying holders/displays directly is you help out small business craftspeople. Of course not everything is made by small shops but there’s enough sellers out there that one could just buy from them if they wanted to.
This is a PERFECT Example of what NOT to Buy - The wooden display cases are very nice - Lots of CLEANED Coins - I feel sorry for the family who's relative wasted so much money.
Yeah, but this collection is worth some money. Better than no money. The person could have wasted his money buying beer, woman, and smokes. The crappy part is: the collection is a mix of everything and the kitchen sink...someone will have to go through the whole thing. I would bet the buyer will just offer a price to get it all, and the seller will be happy to get rid of it, they will accept a lower price than it's worth.
I am glad I saw his videos. Littleton coin company caught my eye on several occasions. Luckily, I did not do too much damage. Sticking to clean tubes of Buffalos, Maples, and Eagles. My kids can dump them at a local coin shop when the price is up hopefully in the distant future. I told them I would haunt them if they did something silly.
Great advice Daniel, people listen to a person that collects and sells coins for a living. You're a great person to deal with and do dealings for coins of all types. I bought from you for a number of years and have never had any issues with the coins I've purchased. Your honest and very well trusted by me. Thanks for being you.
Great video Daniel. This is the kind of videos I can share to my friends who don’t collect but are interested and they find companies like this who target them and their relatives through ads on tv or fb.. I try to tell them but this video really helps..
at least some of it are silver bullion. they pay too much for it,but it worth their metal value. the worst is the base metal coin, it is just normal coin, worth the number written on it.
Lot of levels to this. Collect what brings you joy and happiness. Share that with others. Display your collection with pride. Inheritance is not/should not be a guarantee. What you receive either sell and get money (house money now) or save and add to the collection too. If this collection was purely for investment, yes could have done better. If this collection was for personal enjoyment - bravo!!!
I've had a friend of mine inherit a much smaller collection that was primarily purchased from a very well known Colorado coin business. The items were overgraded, many cleaned, and overpriced, but not 200% premium. All common dates and almost all worth melt or slightly more. It's always difficult, but the only ethical way to respond is the truth. Sometimes the truth includes "I'm sure your uncle got lots of enjoyment putting this together".
Daniel I truly appreciate what you are doing to help others so much. It’s a sacrificial service to take the time to do these videos and they not only give coin education to others, but also they teach wisdom. I wish I had collected when I was younger, but I have collected a very large amount in the nine months since I started. I wish I had watched more of your videos when I started, so grateful for your service to people.
I was criticized on a auction sight by a seller because all I would buy was raw coins. In my mind for the price of one graded I could have way more raw coins especially ones I didn’t have. I own a few graded mostly raw coins and some sets like those but bought at a low price. Coins are a longterm investment. It’s also personal preference. The boxes and holders cost may more than the coins. If I die I know I left untouched money to my family. The one thing is for certain I won’t be rich and neither will they. It’s like a low interest savings.
Years of metal detecting as given me some very good key dates and a lot of sell sliver . My grandfather gave me over 300 Indian heads he was given as a kid in the 20s so I don’t really buy coins but would like to get an uncirculated standing Liberty quarter just one . Have got a few in very nice condition just like my second seated dime I got 1877 very good shape full Liberty and details .
They didn't "cost" their family anything. They earned the money, not their heirs. Now, did they waste their own money? Sure. But for the heirs, it is all free money. And lot of the time, the heirs will have zero gratitude that their parents or grandparents left them anything. I would have loved if my father had left me a collection like that. I would still have it and cherish it. The only thing I have of my father was an old, dull Buck knife, because the died in severe debt and there was nothing left. And I wouldn't trade that crappy knife for the entire collection you just reviewed. Guaranteed, a lot of heirs would just quickly sell it all. Whoever collected this didn't "screw over" anybody except himself. Even so, value is often subjective.
You completely missed this, if I have $100,000 saved to leave my family, and I decide to buy $100,000 of coins in boxes like this from a rip off company, because they made it sound like it would increase in value. So instead of leaving my family $100,000 I am now leaving them with $10,000 of coin sets and boxes that most dealers don't want to buy and most collectors don't collect. So by doing this, they cost their family $90,000, they might sorely need in times like this AND help make someone else a millionaire that doesn't deserve it. Just because you like them and would keep them doesn't mean everyone else is like that. It's also okay that some people don't want to collect coins, it's their right, if they don't want to keep sets like this or appreciate sets and boxes like this. People need money more than coins, most can't afford to keep stuff like. You're only looking at your own feelings not everyone else's.
@@CoinHELPu No. I got your point. My point was who is actually bearing the cost and gratitude. You missed MY point. You aren't "costing" your family anything. Period. YOU worked for that money. Not them. You don't have to give your family a dime in inheritance. You can give it to charity or as in most cases, your debtors. I don't stack coins for my death. I help my children NOW, so they won't need an inheritance. I buy metal, because I am preparing for when the dollar is kindling in my lifetime. So, I would never buy a commemorative set or care about how it was packaged. But that is me. Again, value is subjective. That collector had his own reasons for buying those coins. It clearly wasn't to transfer assets to his children. And my other point is that the children should be grateful they have anything and not feel they were "robbed." The guy liked coins in nice containers. And his heirs now have a nice collection that they did absolutely nothing to obtain but outlive their parent. In many cases, they are going to sell it all off, and then bitch about how he could have bought more silver to give them for nothing.
Again, in your attempt to be correct and not factual, you still got it wrong. People who buy this stuff bought it because they thought the value would increase and would be a good inheritance for their family. I do this for a living and I know what people tell me, what’s in the wills, etc. You do not. You don’t have any authority trying to correct me either with huge rants. The buyers intended to leave these to their family and thought the money they put in it would grow by the time they died and left it. When you put $10,000 in coins, of what you want to leave your family and it’s only worth $5,000. You DID cost our family $5,000 of their inheritance. Thats math and 100% correct. I didn’t miss your point it’s just not correct. Your intent or opinion doesn’t change the facts. If I make bad financial decisions with money I am leaving my family then I am costing them part or all of that inheritance. So stop wasting my time and yours trying to be correct about something you have very little experience with. I deal with this daily. I see the tears and anguish and grief. I live it.
Its like with stamps, cigar bands, antiques and any other thing you can collect ( hell people that collect statues like sideshow collectibles are having difficulties selling them ). People also need to realize that if you sell it to a coin dealer, they run a business and they need to sell those. So yeah you can have a gold coin that on auction can net 25k+ but a coin dealer will never pay that much because its local coindealer for local market. THANK YOU for making this wonderful video. Great advice, no matter if its coins, antique furniture, antique books , statues, stamps, "vintage toys", cigar bands what have you, its always best to not go full overboard but spread it around. Yeah i also made the "mistake" of having coins in these wonderful wooden cases, though i do not see it as a mistake since its more as a "safe space to store "
its obvious the guy loved what he bought but yes he spent needlessly(I agree with Daniel)...I wont say reckless because he it is so evident he loved them!
LoL. I just realized I commented on this same point 5 months ago. I’m not going to delete it now though…😜 That’s all of the queens beasts. I bought each one of those coins individually as they came out from the Royal Mint. They were not overly expensive upon release. They did go up in value significantly over time…some more so than others. I’m actually VERY happy that I bought them the way I did. I didn’t buy them as a set from some seller putting together some sort of expensive slick presentation. I bought them one at a time from the Royal mint. I LOVE the designs of the Queen’s Beasts. I really enjoyed putting together the set.
Good Message If you are going to collect fancy overpriced items, let family know. Thats great advice. 90% of what I collect but 10% is stuff I really like that has some serious premiums. Will my kids get that premium in the future? Maybe maybe not.
Interesting presentation. Very cool and unique coin boxes may be found at thrift shops, flea markets or support your local wood worker/artist. Have been contemplating on making my own. Stack on!🇺🇸🇻🇮
Like my LCS likes to say when the tears come (of which I've seen a lot myself just by being a storefly): "You can always try selling them on eBay. At the end of the day, I need to make a profit, and I have a different crowd I sell to."
I have been training my kids about the coins I have collected. Proper care and handling, storage, why I love them, even grading, mintages,etc. I’ve also kept a ledger with details of every coin I purchased, date I purchased, how much I paid plus tax and shipping where applicable, where purchased, and I’ve even written information about the story behind how I went about finding that “just right” coin to fill that spot in the series. I’m trying to prepare them to inherit my collection and enjoy them like I do without making beginning collector costly mistakes. My oldest son learned a lot about meticulously caring for collections thru baseball card collecting starting very young.
I suspect that sadly, there are a lot of collections like this out there. Thanks for showing these and for the sensible commentary 👍. Support your LCS if you can folks……
Great Video 👍🏻 I hope you make money off all of those boxes and coins. You did that seller a solid by buying that. You’re a good man by helping someone like that out, he’s probably going through a hard enough time with his loss. I would totally buy a collector box or two if my LCS carried that stuff. Anyway, thanks for being a good guy and helping someone out 👍🏻🇺🇸🇺🇸🇺🇸
I have learned a lot from you, started truly collecting and learning a couple years ago although Iv'e been saving cool coins sinse I was a kid because I like coins. Anyway,, thank you foryour insight and knowledge.
Plenty WW2 generation spent tons of money from TV infomercials. IF that kind of inheritance fell in my lap, it would be worth keeping or selling for fiat. I bet that their cost average would be pretty low. lol However, I agree with your advice against paying way too much.
Wow, someone overpaid, too bad. neat coins but you never will get your money back. thanks for the video. hope it will help new collectors not fall into the same trap.
The Bradford Exchange has great looking presentation cases for which you pay through the roof. The last time I bought anything from them was about 40 years ago.
People like to slam people who buy these products and call them fools but remember they may have bought these just vecause they liked how they look with no thought or desire to profit from them. People see value in different ways
@@CoinHELPu I did watch it....and you harp on that people who buy these should just go to a LCS and buy the components there to do this cheaper instead of "wasting you family's inheritance" as you assumed they were buying them for future value. Secondly my comment was not directed at you...I said "people" not "the host". I have collected coins for much of my life along with other collectibles and it is amiss to impart your own values on someone else's buying decision. Sometimes people are happy to pay outrageous premiums (compared to the items resale value) simply because they like how it looks, the ease of buying the set all at once, or the ease of having it shipped to your door. We aren't all in this for profit (even though I am...lol)
I never slammed anyone. I offered sound advice and alternatives to buying smarter. The fact is, he did buy this for future investment, that’s how they’re marketed to, and so did most collectors when their relatives bring them into the shop. I do this for a living, people who know coins well don’t buy this stuff. Once they learn better, they use my advice. It is wasting part of the inheritance, that’s math, it’s not my opinion.
Any coins or gold advertised on TV is going to be massively overpriced. Those commercials are very expensive and the companies include that in the price of coins or gold sold.
Anytime anyone steps out of his comfort zone, things that they don't understand, this will always be an issue, overpaying. Anything you buy without doing the research is likely to cost you in the end, antiques, art, any collectables. Mixing bullion with collecting is one of the biggest issues, paying high premiums for basic silver in a fancy holder. Holders and boxes have always been a red flag. Also, some provide a long history about the country, about what was going on at the time the coins were made, which of course is meaningless. It is a scam, but the buyer is at fault for not learning before placing orders. On another subject, just noticing the scams on Ebay with Chinese sellers who have sold no product but now offering 1892 silver dollars, P,S,O,CC for $15-$25 range and they look really good. It's criminal for Ebay to allow this to go on. Needs to be a class action law suit of some sort. So many scams.
It's just sad that a lot of people don't really do their due diligence when they look into precious metals. They just have some kind of retirement saved up and they decide to buy some pretty coins without doing absolutely no research. I would bet a lot of these people don't even know what spot price is. They see these TV commercials about coins and they just buy. and then they get scammed by some of these monthly subscriptions for stupid coins etc. They would've just put their money in generic 90% or generic silver and gold rounds, they would've did much much better.
It’s a shame that Predatory Coin Dealers rip unsuspecting seniors off, by how they present the coins and “you can buy from the comfort of your own home and with low monthly payments.” I think also people possibly distrust local dealers and rarely ever research what coins are really worth. Daniel it would be interesting to know the actual value of the collection.
Oh yeah I have had people wanting to sell collections like this ...i have had to sort through 500 dollars of over marketed ..whipped up crap ..a $10 coin in a nice pretty container or holder ect ect ect...you may find some good coins in larger collections but lots of bows and boxes for a worn out common dated coins that I have had to sort through mess like this a number of times ..the box was nicer and about as valuable as the coin
Your perspective is very much like mine. We collect coins and we want to get good deals, in terms of value, based on the condition, date, mintmark, etc. We'll even pay a premium for someone else's opinion of the coin. But, there are people out there who like to buy the nice display cases, the beauty of the layout, and the "history" cards that come with them. Are some of them outrageous and a rip-off? Absolutely. But, in my mind, it's like buying a brand-name towel at Bed, Bath, and Beyond or a customized coffee cup. You can get them for twenty-five cents at a garage sale. But, you're gong to pay a premium for them at the store. I guess I've just gotten used to it, just like I've gotten used to the U.S. Mint making every commemorative under the sun just to get extra money from collectors. I do know, when I go to buy a collection, I attached zero value to anything in a presentation case and to anything that's colorized just like I'll pay next to nothing for modern-day proof sets. Anyway... Just my thoughts on it. Thank you for sharing the video. :)
This video came up in my recommended & reminded me of my coin collection that I stopped adding to after I'd bought a lot of 1999 & 2000 coins from around the world. I can't remember the last time I looked at them as they've been stored in an unused cupboard ever since. I'll have to dig them out & see what "state" they are in but hopefully they're in good condition as they're mostly in sealed holders that I've never opened. Probably time I sold them as now I think about it they're worth more to me in real money than any value they gave me in the past as a hobby item regardless of their current value.
The take away here is to sell off your collection as you come to end of life. Your descendants won't have any interest in it, and won't have any expertise regarding disposition. Personally, I have an ancient coin collection. I've given away a bunch if the low value stuff to some young collectors who are enthusiastic, and I'm about to send the high value stuff off to a professional numismatic company for selling off. In the end, after only 15 years of collecting, I will have lost money. Its a hobby, and hobbies lose money, while businesses make money.
hi I am interested in finding out what was the ratios involved like say the father may have spent around 100 the son was expecting to get say 5 but you paid like 6 or 10...
The collector of this lot wasnt so much a `coin collector` as a well-meaning buyer to have something wonderful to leave the fam when they go kind of collector. Some cool stuff and the silver alone has value. If you gave them a little over melt for everything thats still a good chunk of change. if they want what was payed for it all at the time plus more, you might suggest they sell on ebay?
When I first started collecting coins, I set myself a condition. I would never pay more than 10% over spot for silver bullion coins, and would never buy a numismatic coin at any price over double spot. For gold I would never pay more than 5% over spot for bullion and would never buy a numismatic worth more than a 30% premium I figured that would give me a lot of protection till i actually learned to grade and value coins. It stopped me buying a LOT of morgan and other silver coin turkeys I can tell you. It also allowed me to get a bunch of gold commemoratives at very good values - generally under spot. Now that I know a bit more I often go into full numismatic mode but only for things I really want to have and that are very rare indeed.
I love the boxes actually! What I don't like is that having those included skyrockets the price of in my opinion rather mediocre-looking coins. I can't call myself a coin collector,at least not serious one for sure. I mostly collect coins based on country of origin.
Image a coin dealer spending all the time to put together a fair price, that isn’t really worth a lot. And, if you do buy it, how long will it take to list, sell to get your money back.
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Hey bad ass dude, I totally get what you're saying and definitely follow the Cherry pickers guide, but the lighter stuff like you're saying dude if I'm searching I'm going to look at it / for it if you know what I mean
J
I thought the eagles were made back in the 1800's?
It looks like somebody was staying up late, watching TV and falling for those predatory infomercionals.
What's worse than over paying for a for a coin in a fancy box? Answer: over paying for a colored, painted, altered coin in a fancy box. 😒
I sometimes “overpay” for coins that are colorized or shaped like a rhino or whatever. It’s worth it to me to have a few fun pieces that look at more than another silver Eagle or Buffalo round.
@@JamesBond-st4qu That's a lot of the value: (1) YOU like it; (2) YOU didn't spend any effort or time getting it. Now, do people communicate this to their heirs? Not often. But most people understand what they're getting from the Bradford Exchange: if you're 70 and just want something nice, the last thing you want to do at that age is research.
Its tough watching old timers getting taken to the cleaners. A little research goes a long ways. I love my local coin shop. Thanks Daniel
😂😅😂
LCS will take you to the cleaners too. I saw my closest LCS pay some dudes 2100 when spot was 2300. I don’t do much business with them anymore
Good solid advice. Never buy from these late night infomercial rip off artists.
You're a great guy man. I hope that when I pass away my family doesn't get screwed over.
You are a kind soul. Thank you for helping families get through tough times.
This fella mustve got EVERY Reader’s Digest offer for 45yrs😃
While I don't personally buy that kind of silver it is still quite a collection. The person obviously enjoyed those items and while I certainly wouldn't recommend doing that at least they didn't blow it all at the casino. In the end they still left the family with something more than nothing.
10:44 Rule #1... You should never rely on, expect, or depend on someone else's wealth for your future. Always provide the best financial security you can for your own future. Nothing is for certain.
The owner of the Vermillion shop in Florida says he doesn't own any silver. The reason being is that he says he sees what happens to the collections when the people collecting them die. They all get turned into his shop to process by family members who could care less about it. They just want the fiat.
Thank goodness he liked coins. Imagine how little return there would be if he spent it all on other hobbies.
Bingo! Hobbies are meant to lose money. If you're looking to make money, then it's a business.
Yep he could have just smoked and drank away his money!!
This is a typical novice and /or elderly collector who made many spontaneous purchases.
My great aunt passed away and her children thought she had a fortune wrapped up in a coin collection.
The entire collection appraised for barely $1500.
Gold plated state quarters and modern proof sets mostly, she probably paid 3 times more than the appraisal
It is obvious that the buyer was not doing due diligence. BUT, there are times when you just like the collection. Like George Carlin said, "Nail two things together that have never been nailed together before then some schmuck will buy it."
It's sad that someone paid that much for minimal silver and "flashy" boxes with keys. Ya, they're cool but never worth the premium
Omg you're right. They have keys too. That's really dumb.
Not to mention the fact that what are you gonna do with that box? sit on your mantle? somebody breaks into your house & they take the box. They don’t even need the key and they’re gonna sell it for nothin. What a waste.
no US bullion coins are worth the premium. 🇺🇸
If the person that bought these enjoyed collecting them, I don’t see anything wrong with it. Whoever collected them is the one that worked to be able to buy them. If this is the way they got the most enjoyment from collecting, when they pass away, what difference does it make if whoever inherited them doesn’t get as much for selling them as they would if they had collected a different way? The person that sold this collection should be thankful that this collection was passed to them. Just my opinion
@@greggmason8604 I tend to agree with you he/she could have spent the money on drink drugs travel lots of things in the end it comes down to if you get enjoyment out of it that is all that really as long as they do not think that they will go up in value for there children.
Here's the worst part....can you imagine trying to STORE all that FODDER?......
I’m having to deal with that very problem right now with the stuff that I’m getting from my father. Any of the silver coins that he has given me these cases? I’ve taken them out of the cases and put them into tubes and put them in my silver stack. Same for the gold coin collection that he paid $750 per coin for two 1 dollar coins, two quarter Eagles and two half Eagles.
$4500 for six gold coins that have $2200 of gold. Perhaps worth a bit more as coins given their age but not $4500!
I'd say this collection was an EPIC FAIL 👎👎
All that stuff is what the scammers sell to unsuspecting victims. Such a shame.
Another reason why people should watch your videos, Daniel. Thanks for sharing.
Epic fail if purchased recently. But anything bought in the 90s or older, you got a nice return on.
I can only say that the person who bought these got a great deal of pleasure collecting and accumulating. Doing something good for their family. That was their life and what was important to them. In that way it's an epic collection.
People do that with property, art, bitcoin, NFTs, baseball cards ... there's no end to the things people collect.. Thanks for the tips for collectors who need guidance. we all could use some of that. 💕
I'm a collector in the UK, and we have a similar issue. There are loads of companies with official-sounding names (such as "London Mint Office", "Hattons of London") that sell very overpriced "collector coins" that are worth very little over melt value. Ive heard the term "Granny bait" being used to describe them, and it's very fitting imo.
Incidentally, i just bought the same case as in 9:40, and it's pretty nice for what it is! The difference is, I only paid £15 for it...
Good show. Going to the stores I rarely see the young collect. There is one kid that comes in. He seems to buy silver slabs. He's probably 10 and comes with him mom. Great to see.
My grandmother apparently had a large coin collection but i can only guess someone came through and swiped it...however buried deep down in an old drawer was a 1886 morgan dollar. Its the only thing of hers i have and its absolutely priceless to me.
I stack all kinds of silver that I buy cheap. Recently I was talking to a coworker and he said that he's been buying gold plated "tribute" coins to leave to his granddaughter. It broke my heart.
Ooh bless him though good intentions
Oof I woulda given him 5 ounces of silver and told him what to stack
To each their own. I like those cases. It was an epic collection.
buy silver and gold bullion straight from mass dealers like apmex, the only holder i need is cardboard, poly and staples to keep off fingerprints. so I am buying mostly metal, all sovereign because that's how I like it. I like to support local dealers too, they need business.
Exactly. It really annoys me that people buy gold from Costco instead of LCS’s. I get they are cheaper but do we have to literally get everything from a big box store or massive chain!
Lol
Well, not all coins shops are created equal. Last I checked, my LCS wanted double the premium that APMEX was asking on generic silver rounds/bars. They also tried to convince me, that I didn't know anything and their price was unbeatable. Ampex is also on the higher side of premiums, IMO.
I'm dealing with one of these collections right now from my mother-in- law. Bradford, PCS, American Mint, Littleton, Mystic, etc. We've thrown away a dumpster full of display cases. I'm collecting the regular coins in albums, selling much of valuable stuff at a dealer, and trying to figure out what to do with the junk.
Could be worse, might have just left debt and old socks
Yall nuts lol
I had 4 deadbeat grandparents who were lousy parents and lousy grand parents. On top of that they were into nothing. Well they were into getting drunk and watching tv. No hobbies, no interests. One had a few coins they kept from their change. No stamps, no sports cards. Just a life of tv, booze and fighting in front of their kids. The one grandma did buy a few elvis whiskey bottles and state plates she thought were going to be part of her retirement plan. Of course after 40 years they were worth nothing. Just people that had no interest in anything, especially their grandkids, and didnt know anything. And didnt want to know anything. Just a life of booze, snacks and tv. So yeah, not much left to me by them.
Are you stacking?
@@ronaldperry no, i am selling to try to pay credit cards to avoid 30% interest
@@SHANECatLovinActivistHistorian do what you need to do.
@@SHANECatLovinActivistHistoriando your best to cut what you don’t need (fast food, coffee, etc) and invest in physical stuff. I’m sitting on expensive rifles that haven’t been imported or made since 2011 and the price has quadrupled on them making them 5 figures each
When my grandfather began collecting coins there was not much information available. He obtained his items basically by mail order in the 1960s. He knew enough to buy directly from the US government. My first silver eagles came from one of those middle of night shows and commemoratives from Kmart in the 1980s. Times have evolved. Sometimes when I am sitting and waiting in the coin shop, I watch family members cry openly in shame and horror at some of these enormous magazine purchased collections. I see many coin channels never give any historical perspectives as to how these type of collections happened. Silver stackers have really changed the silver, bullion, gold, and numismatic game. My brother who was homeless taught me about silver stacking when most family members would just tell him to “shut the f…. up” I laugh now, because he is the one that inherited grandpa’s collection.
Care facilities can depelete all cash savings, but coin collections are untraceable. Good choices were not made, but that is history at this point
But this is someone else's present or future and if they see this video that might prevent another act of irrevocable history.
@@CoinHELPu 💯
Thanks Daniel. When I first started out in this hobby, I made some mistakes. But I was fortunate enough to be able to watch videos like these to warn me of some of the less than ethical companies out there overcharging on their products. I really appreciate your help in educating the masses. Keep 'em coming Daniel!!!
I've been saying for years that the Proof-69 or 70 GRADED Silver Eagles is a JOKE! Why can't the grading companies just grade them as "authentic" and leave it at that? Of course a huge majority are going to come back in high grades! Some of these grading companies are as guilty as some of the coin dealers! Also, companies like ICG and some of the TV shows are just taking advantage of seniors!
@JaredR-l4j - grades obviously matters when pricing Morgan's, etc. ASE almost always look like a 69 or 70. I kinda agree on the 70's but any less than that is not much more money than a beautiful raw one. The Grading Companies LOVE IT...obviously, they get paid to grade. Also, grading a modern coin is beyond boring....it's that 1893 "S" that gets the blood pressure up and adds excitement!
Some of what my dad paid for things like this -
BU WWII Mercury dime set, 41-45 from all 3 mints - $19 a coin.
Presidential $1 plated in gold and platinum, then coated in a clear resin to keep the absolutely thinnest possible plating - $25 a coin
Indian head cents - 25, $18 a coin.
6 Morgans, between them all at least one of each mint mark - $200 a coin and 3 of them were 1921…
Then he got two sets of presidential “coins”, 1 oz of silver each - $99 a coin.
Some others as well that I’m not sure how much they cost. Gold “bills” for each state. Plated state quarters.
And now he’s starting a silver proof set of every quarter from 1999 on, at about $33 a coin!!!
I only have these kind of things in my collection for 3 reasons. Inherit and personally like. I also get boxed commemorative silver from my LCS when he has them because he just sells them for loose coin price, which means he only pays that.
Collect what you like... just try not to overpay.
Another benefit of buying holders/displays directly is you help out small business craftspeople. Of course not everything is made by small shops but there’s enough sellers out there that one could just buy from them if they wanted to.
This is a PERFECT Example of what NOT to Buy - The wooden display cases are very nice - Lots of CLEANED Coins - I feel sorry for the family who's relative wasted so much money.
Yeah, but this collection is worth some money. Better than no money. The person could have wasted his money buying beer, woman, and smokes. The crappy part is: the collection is a mix of everything and the kitchen sink...someone will have to go through the whole thing. I would bet the buyer will just offer a price to get it all, and the seller will be happy to get rid of it, they will accept a lower price than it's worth.
A dealer doesn't pay what a coin collections worth, but he got at least melt for his coins here, and over on some.
I am glad I saw his videos. Littleton coin company caught my eye on several occasions. Luckily, I did not do too much damage. Sticking to clean tubes of Buffalos, Maples, and Eagles. My kids can dump them at a local coin shop when the price is up hopefully in the distant future. I told them I would haunt them if they did something silly.
Great advice Daniel, people listen to a person that collects and sells coins for a living. You're a great person to deal with and do dealings for coins of all types. I bought from you for a number of years and have never had any issues with the coins I've purchased. Your honest and very well trusted by me. Thanks for being you.
Great video Daniel. This is the kind of videos I can share to my friends who don’t collect but are interested and they find companies like this who target them and their relatives through ads on tv or fb.. I try to tell them but this video really helps..
at least some of it are silver bullion. they pay too much for it,but it worth their metal value. the worst is the base metal coin, it is just normal coin, worth the number written on it.
they should buy bullion and junk silver, but maybe they fear being called survivalist? fancy boxed sets should never be bought new.
Lot of levels to this. Collect what brings you joy and happiness. Share that with others. Display your collection with pride. Inheritance is not/should not be a guarantee. What you receive either sell and get money (house money now) or save and add to the collection too.
If this collection was purely for investment, yes could have done better.
If this collection was for personal enjoyment - bravo!!!
I've had a friend of mine inherit a much smaller collection that was primarily purchased from a very well known Colorado coin business. The items were overgraded, many cleaned, and overpriced, but not 200% premium. All common dates and almost all worth melt or slightly more.
It's always difficult, but the only ethical way to respond is the truth. Sometimes the truth includes "I'm sure your uncle got lots of enjoyment putting this together".
Daniel I truly appreciate what you are doing to help others so much. It’s a sacrificial service to take the time to do these videos and they not only give coin education to others, but also they teach wisdom. I wish I had collected when I was younger, but I have collected a very large amount in the nine months since I started. I wish I had watched more of your videos when I started, so grateful for your service to people.
Good video to alert the collectors out there who aren't well versed with the details of collecting.
I was criticized on a auction sight by a seller because all I would buy was raw coins. In my mind for the price of one graded I could have way more raw coins especially ones I didn’t have. I own a few graded mostly raw coins and some sets like those but bought at a low price. Coins are a longterm investment. It’s also personal preference. The boxes and holders cost may more than the coins. If I die I know I left untouched money to my family. The one thing is for certain I won’t be rich and neither will they. It’s like a low interest savings.
Years of metal detecting as given me some very good key dates and a lot of sell sliver . My grandfather gave me over 300 Indian heads he was given as a kid in the 20s so I don’t really buy coins but would like to get an uncirculated standing Liberty quarter just one . Have got a few in very nice condition just like my second seated dime I got 1877 very good shape full Liberty and details .
They didn't "cost" their family anything. They earned the money, not their heirs. Now, did they waste their own money? Sure. But for the heirs, it is all free money. And lot of the time, the heirs will have zero gratitude that their parents or grandparents left them anything. I would have loved if my father had left me a collection like that. I would still have it and cherish it. The only thing I have of my father was an old, dull Buck knife, because the died in severe debt and there was nothing left. And I wouldn't trade that crappy knife for the entire collection you just reviewed. Guaranteed, a lot of heirs would just quickly sell it all. Whoever collected this didn't "screw over" anybody except himself. Even so, value is often subjective.
You completely missed this, if I have $100,000 saved to leave my family, and I decide to buy $100,000 of coins in boxes like this from a rip off company, because they made it sound like it would increase in value.
So instead of leaving my family $100,000 I am now leaving them with $10,000 of coin sets and boxes that most dealers don't want to buy and most collectors don't collect. So by doing this, they cost their family $90,000, they might sorely need in times like this AND help make someone else a millionaire that doesn't deserve it.
Just because you like them and would keep them doesn't mean everyone else is like that. It's also okay that some people don't want to collect coins, it's their right, if they don't want to keep sets like this or appreciate sets and boxes like this. People need money more than coins, most can't afford to keep stuff like.
You're only looking at your own feelings not everyone else's.
@@CoinHELPu No. I got your point. My point was who is actually bearing the cost and gratitude. You missed MY point. You aren't "costing" your family anything. Period. YOU worked for that money. Not them. You don't have to give your family a dime in inheritance. You can give it to charity or as in most cases, your debtors. I don't stack coins for my death. I help my children NOW, so they won't need an inheritance. I buy metal, because I am preparing for when the dollar is kindling in my lifetime. So, I would never buy a commemorative set or care about how it was packaged. But that is me. Again, value is subjective. That collector had his own reasons for buying those coins. It clearly wasn't to transfer assets to his children. And my other point is that the children should be grateful they have anything and not feel they were "robbed." The guy liked coins in nice containers. And his heirs now have a nice collection that they did absolutely nothing to obtain but outlive their parent. In many cases, they are going to sell it all off, and then bitch about how he could have bought more silver to give them for nothing.
Again, in your attempt to be correct and not factual, you still got it wrong. People who buy this stuff bought it because they thought the value would increase and would be a good inheritance for their family. I do this for a living and I know what people tell me, what’s in the wills, etc. You do not. You don’t have any authority trying to correct me either with huge rants. The buyers intended to leave these to their family and thought the money they put in it would grow by the time they died and left it. When you put $10,000 in coins, of what you want to leave your family and it’s only worth $5,000. You DID cost our family $5,000 of their inheritance. Thats math and 100% correct.
I didn’t miss your point it’s just not correct. Your intent or opinion doesn’t change the facts. If I make bad financial decisions with money I am leaving my family then I am costing them part or all of that inheritance.
So stop wasting my time and yours trying to be correct about something you have very little experience with. I deal with this daily. I see the tears and anguish and grief. I live it.
Its like with stamps, cigar bands, antiques and any other thing you can collect ( hell people that collect statues like sideshow collectibles are having difficulties selling them ). People also need to realize that if you sell it to a coin dealer, they run a business and they need to sell those. So yeah you can have a gold coin that on auction can net 25k+ but a coin dealer will never pay that much because its local coindealer for local market.
THANK YOU for making this wonderful video. Great advice, no matter if its coins, antique furniture, antique books , statues, stamps, "vintage toys", cigar bands what have you, its always best to not go full overboard but spread it around.
Yeah i also made the "mistake" of having coins in these wonderful wooden cases, though i do not see it as a mistake since its more as a "safe space to store "
When Mike Mezack says "red oak" I say shut up and take my money!
its obvious the guy loved what he bought but yes he spent needlessly(I agree with Daniel)...I wont say reckless because he it is so evident he loved them!
Thanks Daniel for another great episode, it's fun!!!
LoL. I just realized I commented on this same point 5 months ago. I’m not going to delete it now though…😜
That’s all of the queens beasts. I bought each one of those coins individually as they came out from the Royal Mint. They were not overly expensive upon release. They did go up in value significantly over time…some more so than others. I’m actually VERY happy that I bought them the way I did. I didn’t buy them as a set from some seller putting together some sort of expensive slick presentation. I bought them one at a time from the Royal mint. I LOVE the designs of the Queen’s Beasts. I really enjoyed putting together the set.
Looks like there's going to be a MASSIVE sale on fancy, useless, worthless, display boxes at Portsmouth Coin Shop.....
Yep! lol
Good advice. Thank you.
Good Message
If you are going to collect fancy overpriced items, let family know. Thats great advice. 90% of what I collect but 10% is stuff I really like that has some serious premiums. Will my kids get that premium in the future? Maybe maybe not.
Priceless information sir....thank you.
Most hobbies loose money, so I would say an epic collection. If they enjoyed it, who cares. But you need to know what you are doing.
Wonderfully and tactfully posted; especially good advice on a sensitive subject. Thank you.
Interesting presentation.
Very cool and unique coin boxes may be found at thrift shops, flea markets or support your local wood worker/artist.
Have been contemplating on making my own.
Stack on!🇺🇸🇻🇮
Like my LCS likes to say when the tears come (of which I've seen a lot myself just by being a storefly): "You can always try selling them on eBay. At the end of the day, I need to make a profit, and I have a different crowd I sell to."
ALL THOSE SILVER EAGLES IN GENERIC SLABS! FOLKS PLEASE STAY AWAY FROM THE GENERIC SLABS WHEN PURCHASING ANY COINS PERIOD!!!!!!!!!!
Good Video. A great summary of the con sharks products out there.
Appreciate your honesty and knowledge on the situation. Nice video!
I have been training my kids about the coins I have collected. Proper care and handling, storage, why I love them, even grading, mintages,etc. I’ve also kept a ledger with details of every coin I purchased, date I purchased, how much I paid plus tax and shipping where applicable, where purchased, and I’ve even written information about the story behind how I went about finding that “just right” coin to fill that spot in the series. I’m trying to prepare them to inherit my collection and enjoy them like I do without making beginning collector costly mistakes. My oldest son learned a lot about meticulously caring for collections thru baseball card collecting starting very young.
I suspect that sadly, there are a lot of collections like this out there. Thanks for showing these and for the sensible commentary 👍. Support your LCS if you can folks……
Great Video 👍🏻 I hope you make money off all of those boxes and coins. You did that seller a solid by buying that. You’re a good man by helping someone like that out, he’s probably going through a hard enough time with his loss.
I would totally buy a collector box or two if my LCS carried that stuff. Anyway, thanks for being a good guy and helping someone out 👍🏻🇺🇸🇺🇸🇺🇸
Oh MY heaven!....Did that dude get RIPPED OFF or WHAT?
I have learned a lot from you, started truly collecting and learning a couple years ago although Iv'e been saving cool coins sinse I was a kid because I like coins. Anyway,, thank you foryour insight and knowledge.
Plenty WW2 generation spent tons of money from TV infomercials.
IF that kind of inheritance fell in my lap, it would be worth keeping or selling for fiat.
I bet that their cost average would be pretty low. lol
However, I agree with your advice against paying way too much.
Excellent video, Daniel. Way more fun to find ungraded coins and put in capsules or a case.
Wow, someone overpaid, too bad. neat coins but you never will get your money back. thanks for the video. hope it will help new collectors not fall into the same trap.
The Bradford Exchange has great looking presentation cases for which you pay through the roof. The last time I bought anything from them was about 40 years ago.
Did anyone else wait the entire video for this guy to make a point?
People like to slam people who buy these products and call them fools but remember they may have bought these just vecause they liked how they look with no thought or desire to profit from them. People see value in different ways
For the record I did not slam anyone for buying these, my entire video should be watched before commenting. I explain it in detail, what I think.
@@CoinHELPu I did watch it....and you harp on that people who buy these should just go to a LCS and buy the components there to do this cheaper instead of "wasting you family's inheritance" as you assumed they were buying them for future value. Secondly my comment was not directed at you...I said "people" not "the host". I have collected coins for much of my life along with other collectibles and it is amiss to impart your own values on someone else's buying decision. Sometimes people are happy to pay outrageous premiums (compared to the items resale value) simply because they like how it looks, the ease of buying the set all at once, or the ease of having it shipped to your door. We aren't all in this for profit (even though I am...lol)
I never slammed anyone. I offered sound advice and alternatives to buying smarter. The fact is, he did buy this for future investment, that’s how they’re marketed to, and so did most collectors when their relatives bring them into the shop. I do this for a living, people who know coins well don’t buy this stuff. Once they learn better, they use my advice. It is wasting part of the inheritance, that’s math, it’s not my opinion.
Any coins or gold advertised on TV is going to be massively overpriced. Those commercials are very expensive and the companies include that in the price of coins or gold sold.
Your honesty is commendable
Yes there are 10 coins in the queen’s beasts series. I love those coins but I bought mine individually from the Royal mint
Anytime anyone steps out of his comfort zone, things that they don't understand, this will always be an issue, overpaying. Anything you buy without doing the research is likely to cost you in the end, antiques, art, any collectables. Mixing bullion with collecting is one of the biggest issues, paying high premiums for basic silver in a fancy holder. Holders and boxes have always been a red flag. Also, some provide a long history about the country, about what was going on at the time the coins were made, which of course is meaningless. It is a scam, but the buyer is at fault for not learning before placing orders. On another subject, just noticing the scams on Ebay with Chinese sellers who have sold no product but now offering 1892 silver dollars, P,S,O,CC for $15-$25 range and they look really good. It's criminal for Ebay to allow this to go on. Needs to be a class action law suit of some sort. So many scams.
Thank you for the great information.
Thanks for the down to earth review. Although I did see one of those boxed sets go for good money at a auction.
I do like the presentation, but not at triple the price. Great advice as always. Wish you were local to me. Here in WV
Very interesting topic. I need to get my coins organized.
It's just sad that a lot of people don't really do their due diligence when they look into precious metals. They just have some kind of retirement saved up and they decide to buy some pretty coins without doing absolutely no research. I would bet a lot of these people don't even know what spot price is. They see these TV commercials about coins and they just buy. and then they get scammed by some of these monthly subscriptions for stupid coins etc. They would've just put their money in generic 90% or generic silver and gold rounds, they would've did much much better.
It’s a shame that Predatory Coin Dealers rip unsuspecting seniors off, by how they present the coins and “you can buy from the comfort of your own home and with low monthly payments.” I think also people possibly distrust local dealers and rarely ever research what coins are really worth.
Daniel it would be interesting to know the actual value of the collection.
So what a safe assumption be by silver at spot price or as close to spot as possible? Does the coin matter or anything?
You need to ask this in the coinhelpu community
Great video, Daniel. I hope this helps people understand that there are preditorial companies out there taking advantage of people.
Oh yeah I have had people wanting to sell collections like this ...i have had to sort through 500 dollars of over marketed ..whipped up crap ..a $10 coin in a nice pretty container or holder ect ect ect...you may find some good coins in larger collections but lots of bows and boxes for a worn out common dated coins that I have had to sort through mess like this a number of times ..the box was nicer and about as valuable as the coin
Nice presentation
So are you saying not to pay for graded coins or that having them graded doesn't get you more if you sell?
That would be on regular circulated coins.
I didn’t say any of that. It’s much more complicated than that
Your perspective is very much like mine. We collect coins and we want to get good deals, in terms of value, based on the condition, date, mintmark, etc. We'll even pay a premium for someone else's opinion of the coin. But, there are people out there who like to buy the nice display cases, the beauty of the layout, and the "history" cards that come with them. Are some of them outrageous and a rip-off? Absolutely. But, in my mind, it's like buying a brand-name towel at Bed, Bath, and Beyond or a customized coffee cup. You can get them for twenty-five cents at a garage sale. But, you're gong to pay a premium for them at the store. I guess I've just gotten used to it, just like I've gotten used to the U.S. Mint making every commemorative under the sun just to get extra money from collectors. I do know, when I go to buy a collection, I attached zero value to anything in a presentation case and to anything that's colorized just like I'll pay next to nothing for modern-day proof sets.
Anyway... Just my thoughts on it. Thank you for sharing the video. :)
Thanks for another great video Daniel
This video came up in my recommended & reminded me of my coin collection that I stopped adding to after I'd bought a lot of 1999 & 2000 coins from around the world.
I can't remember the last time I looked at them as they've been stored in an unused cupboard ever since.
I'll have to dig them out & see what "state" they are in but hopefully they're in good condition as they're mostly in sealed holders that I've never opened.
Probably time I sold them as now I think about it they're worth more to me in real money than any value they gave me in the past as a hobby item regardless of their current value.
Great video dan have a great day. 👍🙏✌️🇺🇲
Most of those places that sell these sets are so over priced you can never expect the coin to catch up to what you paid for it.
The take away here is to sell off your collection as you come to end of life. Your descendants won't have any interest in it, and won't have any expertise regarding disposition.
Personally, I have an ancient coin collection. I've given away a bunch if the low value stuff to some young collectors who are enthusiastic, and I'm about to send the high value stuff off to a professional numismatic company for selling off.
In the end, after only 15 years of collecting, I will have lost money. Its a hobby, and hobbies lose money, while businesses make money.
hi I am interested in finding out what was the ratios involved like say the father may have spent around 100 the son was expecting to get say 5 but you paid like 6 or 10...
Better than any crap I have inherited
I want to leave something for Daniel, but since I am not rich enough all I can leave is a comment on this post. Keep em coming.
The collector of this lot wasnt so much a `coin collector` as a well-meaning buyer to have something wonderful to leave the fam when they go kind of collector. Some cool stuff and the silver alone has value. If you gave them a little over melt for everything thats still a good chunk of change. if they want what was payed for it all at the time plus more, you might suggest they sell on ebay?
When I first started collecting coins, I set myself a condition.
I would never pay more than 10% over spot for silver bullion coins, and would never buy a numismatic coin at any price over double spot.
For gold I would never pay more than 5% over spot for bullion and would never buy a numismatic worth more than a 30% premium
I figured that would give me a lot of protection till i actually learned to grade and value coins.
It stopped me buying a LOT of morgan and other silver coin turkeys I can tell you.
It also allowed me to get a bunch of gold commemoratives at very good values - generally under spot.
Now that I know a bit more I often go into full numismatic mode but only for things I really want to have and that are very rare indeed.
I love the boxes actually! What I don't like is that having those included skyrockets the price of in my opinion rather mediocre-looking coins. I can't call myself a coin collector,at least not serious one for sure. I mostly collect coins based on country of origin.
Image a coin dealer spending all the time to put together a fair price, that isn’t really worth a lot. And, if you do buy it, how long will it take to list, sell to get your money back.
I like coming through and buying the cool stuff that they paid $120/toz for at or below spot as well. 👌