BIGGEST Coin Collection EVER on eBay 1,129 Pounds 135 Albums Silver RARE DATES

[GeneBlaze]

lots of silver and neat to look at if you're interested......

eBay Auction (http://www.ebay.com/itm/BIGGEST-Coin-Collection-EVER-eBay-1-129-Pounds-135-Albums-Silver-RARE-DATES-/360426132612?pt=Coins_US_Individual&hash=item53eb125484&autorefresh=true)

click here for pictures (http://neatstuffsite.com/usb.htm)

[osoab]

Welcome Gene.

[EE_]

Holy Mackerel Andy!

Rediculas to sell that much at one time.

[beefsteak]

Quick, somebody drop an e* in the mail to Mr X, yeah, Lindsey William's elitist friend. A mere $10K should mop up the 1/16th of a million collection, right?

[Sparky]

1,129 Pounds in total weight, 75% of it silver coins

OK, let's break this down.

First, I doubt it all got taken out of the packaging to weigh. So let's say about 1000 pounds of coins.

That makes 750 pounds of silver coins. Probably mostly 90% silver coins. Some 100%, some less, so let's use 90%. That's 675 pounds of bullion.

At 14.6 troy ounces per pound, that's 9855 ounces of silver.

At $30/ounce, that's $295,650 melt.

So not counting the numismatic value, including what looks like thousands of proof and mint coins, we'll call it about $300,000 in bullion value alone.

Start the bidding.

[Sparky]

P.S. Free shipping. On over a half ton. Yikes.

[TomD]

I'd be more than a little suspicious about the way it is being marketed. Say that the real value exceeds $300K, who in their right mind would bid anywhere near that sum on an uncatalogued lot based on some digital pictures? Supposedly not cherry picked? Are all those albums supposed to be filled? Either way done like this, someone will end up screwed, the seller or the buyer.

But I'd love to do a Scrooge McDuck on that pile of 90%!

[Sparky]

Yeah, Tom, it seems like no way to sell such a collection. You'd have to bid solely on the presumed bullion value (and below spot, at that), and treat any numismatic value as gravy. I wonder what the reserve is.

[beefsteak]

Tom D,
You picked up on some of the same clues I did and am suspicious of that auction, as well. One of the big clues is the "RARE DATES"...That's an ignoramus descriptor if I ever heard one numismatically. There are KEY DATES, but no "rare dates." And besides, if there ever was a "rare date" it would also have normally have to be a "rare mintmark" and XF condition (yeah, XF....I'm old school. LOL) XF condition on all three sides.

Me thinks the seller got RAW and RARE mixed up, yes?

This is one squirrely auction listing, allright.

[madfranks]

I agree, ebay is no way to sell a collection of this size. Assuming it's legit, assuming I had the time to catalog and value it, and assuming I had the money to buy it, I'd call the guy up and ask what the reserve is, and if the price was right and I won, I'd rent a uhaul, take a road trip and get it myself.

[GeneBlaze]

Judging his past feedback as a seller, he seems to be a seller of high end comic books.

His other current auctions include large lots of coins, probably all from the same source

other auctions (http://www.ebay.com/sch/brianhowardart/m.html?autorefresh=true&hash=item53eb125484&item=360426132612&pt=Coins_US_Individual&_trksid=p4340.l2562)

[Sparky]

I'm going to guess the high bid comes in at a little over $100,000 and doesn't meet reserve.

[gunDriller]

I'd be more than a little suspicious about the way it is being marketed. Say that the real value exceeds $300K, who in their right mind would bid anywhere near that sum on an uncatalogued lot based on some digital pictures? Supposedly not cherry picked? Are all those albums supposed to be filled? Either way done like this, someone will end up screwed, the seller or the buyer.

But I'd love to do a Scrooge McDuck on that pile of 90%!

this is definitely an inspect-in-person kind of transaction.

if it's $300K metal value it's got to be $500K+ numismatic value, probably much more. a lot of work to inventory though.

i wonder if it's protected by Smith & Wesson. ;)

[StreetsOfGold]

I'm going to guess the high bid comes in at a little over $100,000 and doesn't meet reserve.

BINGO... Spot on

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=360426132612

BIGGEST Coin Collection EVER on eBay 1,129 Pounds 135 Albums Silver RARE DATES
Item condition: --
Ended: Jan 19, 201205:46:36 PST
Bid history: 38 bids
Current bid: US $100,099.00
Reserve pricenot met

[madfranks]

I'm going to guess the high bid comes in at a little over $100,000 and doesn't meet reserve.

Great call Sparky! There's just a limit to how much money one is willing to put up based on an ebay auction alone.

[GeneBlaze]

The auction was canceled one day early. No telling how high it might have gone. Someone must have examined the lot in person (as mentioned above) and made him a good offer.

Selling the lot off ebay would save him $1000's in fees.

[willie pete]

there's no way I'd ever internet bid on a coin collection valued that high, if I were interested, I'd be taking a road trip