Expert: Joe Hylas - 9/17/2007

Question
I am feeling stupid this morning.  I sold the 1913 to a dealer, without
him giving me a price first.  I just said I was interested in selling it.  He
went to the computer, entered my info, went to the back and printed out
a check, and handed it to me.   I'm really regretting just taking the check
and leaving.  It was for $115.00  He did give me a price on the 1911D,
first, as I said it was a sentimental hand me down.  The price was written
on his paper pad.  I think it was a little over $1800.  I made it clear that I
would not want to sell it.  How can I know if it was a good price, and
how can I do a better job the next time I want to sell any of my coins, for
lack of funds?

Answer
Hi Mary,
I hear of these things happening on a regular basis.
First off, without knowing the grades of the coins or inspecting them personally, I do not know if the price for the 1913 was fair.  If the coin was in mint condition, it wasn't.  However, if the coin had some wear on it, and assuming a FAIR profit for the dealer, the $115 was in the ballpark but a little low.
The 1911-D however is the key date in the set.  There are 2 varieties of 1911-D.  One in which the "D" mintamrk is sharp and clear, the other is known as a "weak D" since the mintmark is simply that, weak and just visible.
I regularly pay over $1800 for 1911-D $2.50 Indian gold pieces.  You see, I work differently than most dealers.  Most dealers will try to buy a coin for as little as possible even if it means "stealing" it.  I determine the value and relay that info tto the coin owner and explain that I buy the coins for 10% less than that price.  I make a reasonable profit, not a killing, and the seller is happy.
What I suggest to you the next time you want to sell some coins is to contact me.  I am located in NY and have approx. $300 clients I am currently working with.  I have a "home" for all key date coins and can pay more as a result.  Numerous people I have met thru AllExperts have shipped me their collection; I appraise it and buy it for 90% of the appraised value.
If you want to learn more about me, visit our company website  www.AllCoins.US
I am on a list that the US Mint produces of "Referred Dealers", it is a very selective list based upon numerous factors and required credentials.  You can reach me at 800-474-6960 or 516-759-6960
Best Regards
Joe Hylas