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Fair Or Not

dav1965
A friend who needed money sold me 4 Morgan silver dollars and 4 Ike dollars for 80 dollars. They are all uncirculated 60 graded coins. They are all common years with no good mint marks.

I have a web sight that said the morgan dollars were worth 15 each and the ike dollars were worth 5 each. So that equalled 80 dollars.

I pulled up a web sight that showed how much he could get if he sold them online but he told me that he knew i collected coins and he wanted me to have them.

I told him that as long as i am alive they will not be sold. He was happy me not so much. I feel i took advantage of him but i did not really want to buy any more coins.
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Comments

5 comments

Date Votes
  • WearyTraveler
    What a website says they?re worth and what they?re actually worth (what you could actually sell them for) is sometimes pretty far apart.

    I?ve bought a bunch of silver from flea bay and clist. Remember - unless the value of silver goes up drastically, their value will remain relatively flat.

    I?ve got a bucket full of silver that I paid ~$15 per ounce for. With silver at ~$14 now, it?s just sitting there.

    Hopefully silver will go up in value soon!
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  • MIKE WISKEY
    sounds fair to me, keep in mind that the morgans only weight .9 oz (if in good cond.) and only contain 90% silver. the Ike's only have a 'neat' value.
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  • mark christian
    I'm not sure how you took advantage of him. He has $80 that he needed while you have coins that you don't need. I think he came out ahead.
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  • Smitty500mag
    dav1965 wrote:
    He was happy me not so much. I feel i took advantage of him but i did not really want to buy any more coins.

    Simple fix. If you feel you took advantage of him then give him some more money.
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  • gearheaddad
    Melt value is about $11.40 per Morgan dollar. So, that is how much you can sell them for to a coin shop or equivalent.
    Now, there is some premium for the year and condition.....Maybe.
    Ike Dollars are $1.00 unless they are the few silver S uncirc/proofs.
    Unless I'm missing something........
    I think your friend did more than fine.
    I would have offered more like $50.00
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