Member Journal Entry:

Taking a Shot

Posted: 10/10/2010 6:08:49 PM | Views:696

can't find a treasure without digging a few holes.......

I'm an ebay peruser.

I like to browse through and try and find bargains. First I look for specific dates for holes in my active sets--then I look at bulk and mixed lots. I have to humbly say that I've done very well over the years. Bulk lots have landed me a few treasures but there is risk involved.

You see, I understand that if I buy a bulk lot from a dealer who specializes in coins or has a really high feedback--then it is almost 100% assured that those coins have been thoroughly looked through. No, the way to get deals is often by taking some risk. I've often bought from dealers who sell old collectibles yet have the occasional coins..and sometimes less than 100 total transactions. Many other bidders avoid these sales because they are wary and the cost can sometimes be lower than normal.

I have found a 1938-D AU Walker in an auction for "20 Circulated Walkers"...I also found a 1928 Peace Dollar in a 20 coin lot of circulated dollars..most often however I end up with what I paid for--just a bunch of old silver coinage which is worth the melt value I bought it for...

Well today I was at it again. Another one of the chances for a "leap of faith" presented itself and I bought it and won for a little under melt value ( it is amazing to me that a silver dime at current silver prices has $1.70 worth of silver and a quarter is $4.20 worth of silver--$23 x .18084). The lot I won is a 21 coin lot of Washington Quarters all dated from the 1930's. The dealer has a feedback of only 55 but is 100% and has handled 2 or 3 other small coin sales of her 55 transactions. What struck me is that the dates listed were like this:

1932 x 4
1934 x 3
1935 x 5 ......etc etc...
In the photo I blew it up and believe that I can see a mintmark or 2 on the coins showing reverses. So there is a wild, long-shot that I could score a 1932-D or S...and an even longer shot that there may be a 1934 or 1937 doubled die coin...but you gotta dig to uncover treasure.

Most likely I'll have bought 21 heavily circulated silver quarters worth their melt value--but isn't this part of the fun of collecting? Don't you just love opening up that package, pulling out your loupe and inspecting them for those small varieties or the chance of catching a nice find once in a while?

To me it seems like a win-win...the worst case scenario is I get to enjoy the search and anticipation and have some old Washies to throw in the silver bag...the best case?...the thrill of finding an undiscovered treasure ( however small it might be)..

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