We again want to thank you for choosing to work with the experts at Co

Question

Dear Mr. and Mrs. Brown:

We again want to thank you for choosing to work with the experts at Coin and Gem to settle your mother’s estate. After careful review of the coin collection in question, we found a total of 187 coins. Each coin has been appraised, packaged, and marked according to its grade.

Each coin was ranked on a scale of 1 to 70 according to the Sheldon Scale of coin grading. We estimate the total value of the collection to be about $27,000. Most of the value resides in a few very rare American coins, which are in mint condition.

We would be happy to further assist you in deciding how to handle this aspect of your mother’s estate. Please contact us with any questions or concerns you may have.

Attached is a detailed appraisal that inventories each coin, its condition, and its value.

Sincerely yours,
Charles Barker, Owner and Appraisal Expert
Coin and Gem

AfnanHillol · Accepted Answer

The unmarked ones are sold at $151 each, which means they are valued more than $100. So, the total number of coins valued more than $100 is 80 +14 = 94.

Thus, the total number of coins valued less than $100 is 187 - 94 = 93.

The answer is wrong here. The last one will be NO.

7747789470 · Answer

Hi sir,

Could you please explain this solution along and also could you please post the other questions as well

Thank you in advance

Sajjad1994 · Answer

Official Explanation

The first inference is not supported by the information in the three sources. The appraiser does not imply a belief that the Browns will not receive full value for their coins.
 
In Source #3, the appraiser recommends that pieces valued at more than $350 be sold at auction. Source #2 shows that some of Brown’s Extremely Fine coins are valued at $350 or less. These pieces would not be sold at auction.

Source #1 shows that the Browns’ collection contains 187 coins. Source #2 lists 12 of these coins as valued at more than $350. Source #3 indicates that 80 coins have values from $100 to $300. That leaves 95

MHBS · Answer

Sajjad1994 
How did you come up with this "Source #2 lists 12 of these coins as valued at more than $350"

Sajjad1994 · Answer

https://gmatclub.com/forum/download/file.php?mode=view&id=72895 7.jpg

tabishkazi · Answer

unmarked one is counted already in 80 coins which say they have value of 100 to 300 so 80 plus 12 92 which is less than half.

AfnanHillol · Answer

Thanks. Didn't see the trap here. My bad.

Dream009 · Answer

Statement 1:

“The appraiser does not believe that the Browns will obtain full value for their coin collection if the pieces are sold.”

Source 2 (first letter) says: “We estimate the total value ... about $27,000.”

Source 3 (second letter) says: “We highly recommend ... with a reserve price that falls only slightly below their appraised value. Collectors will pay dearly ...”

🔎 The appraiser clearly expects them to get close to appraised value if they follow recommendations.
✅ Answer: No

Statement 2:

“If the Browns follow the appraiser's recommendations, they will most likely sell all of their Extremely Fine coins at auction.”

The recommendation was: auction coins valued more than $350 in Extremely Fine or Mint condition.

Checking the table:

Draped Bust Half Cent (Extremely Fine, $639) → qualifies for auction.

Liberty Capped Half Cent (Extremely Fine, $4,425) → auction.

Three-Cent Pieces (Extremely Fine, $351 each) → auction.

Mercury Dime 1926 S (Extremely Fine, $151) → does not qualify for auction (goes to broker).

Franklin Half Dollar (Extremely Fine, $869) → auction.

So not all Extremely Fine coins go to auction — only those above $350.
✅ Answer: No

Statement 3:

“More than half of the coins in the Browns’ collection are valued at less than $100 each.”

Total collection: 187 coins, estimated $27,000.

From the subset given, many coins are high value. But the appraiser says:
“Finally, I recommend that the coins you have many of—like the wheat penny, which have a relatively low sale value—be sold off in lots.”

This implies the majority of coins are common, low-value (under $100 each), while most of the total value sits in a few rare coins.

Therefore, the inference is supported.
✅ Answer: Yes

We again want to thank you for choosing to work with the experts at Co

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Yes	No
		The appraiser does not believe that the Browns will obtain full value for their coin collection if the pieces are sold.
		If the Browns follow the appraiser's recommendations, they will most likely sell all of their Extremely Fine coins at auction.
		More than half of the coins in the Browns’ collection are valued at less than $100 each.

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