Raw coin selling results

savitale · February 27, 2019 8:44PM

I've seen a number of threads on the topic of "How should I sell my ...". Over the past three years I've been slowly selling off my numismatic "stuff". I'll share the results on what I sold them for, relative to Greysheet. This is based on selling 231 coins, 95% of them raw, with a median value of less than $100 each.

Local dealer - 49% of Greysheet
Local auction - 73% of Greysheet
Great Collections - 83% of Greysheet
Buy, Sell, Trade - 97% of Greysheet
eBay - 99% of Greysheet

It's just data, hopefully it will give someone an idea of the options and expectations.

davewesen · February 27, 2019 8:48PM

Is that before or after 'fees'

cameonut2011 · February 27, 2019 9:01PM

@savitale said:
I've seen a number of threads on the topic of "How should I sell my ...". Over the past three years I've been slowly selling off my numismatic "stuff". I'll share the results on what I sold them for, relative to Greysheet. This is based on selling 231 coins, 95% of them raw, with a median value of less than $100 each.

Local dealer - 49% of Greysheet
Local auction - 73% of Greysheet
Great Collections - 83% of Greysheet
Buy, Sell, Trade - 97% of Greysheet
eBay - 99% of Greysheet

It's just data, hopefully it will give someone an idea of the options and expectations.

What did you sell at those levels? That can also make a huge difference.

habaraca · February 27, 2019 9:14PM

you been getting taken advantage of my friend......
dealers ripping you at 49%

savitale · February 27, 2019 9:14PM

@davewesen said:
Is that before or after 'fees'

Good question. It is before, though there were no fees for local dealer, local auction, or BST.

savitale · February 27, 2019 9:20PM

@cameonut2011 said:

What did you sell at those levels? That can also make a huge difference.

"Stuff" for me equals seated dimes in the VF range, buffalo nickels F-XF, lots of circulated type, older (silver) mint sets, and some modern commemoratives. The kind of material you would see at a Sunday local show.

jgenn · February 27, 2019 11:20PM

Versus Greysheet is useful but, if it's not too personal to ask, how did you make out versus your costs to acquire? As someone getting to point when selling will become more common than buying, I'm very interested in other collectors' outcomes at various venues.

Cougar1978 · February 28, 2019 7:28AM

Good analysis confirms my take on the question and past experience. No surprise eBay super results

When u c them bashing eBay you now know why.

DollarAfterDollar · February 28, 2019 9:19AM

Before seeing you list I'd have assigned similar percentages. Now you know how best to proceed.

Wabbit2313 · February 28, 2019 9:48AM

Getting grey sheet pricing for raw coins when many graded coins are selling for 20%-30% back of bid? Put me in the "no way" camp!

slider23 · February 28, 2019 10:45AM

Interesting information, but for your data to have real value the coins for sale in each selling venue would have to be similar in type, grade and quality. It is not fair to pigeon hole all local dealers at 49% back of Greysheet based on a small sample, but I would expect the local dealer to be at the bottom of the list.

cucamongacoin · February 28, 2019 10:54AM

Greysheet seems to be the new "retail" in many instances

COINS MAKE CENTS · February 28, 2019 10:54AM

Dont put all dealers in a 49 percent of bid category. Dealers have to make money too but not all dealers RIP you off. If it was common stuff we have to remember you walked in handed the coins over got money and left. With ebay and bst and all that you had to list the coins, answer whatever questions there were, box the coins ship tje coins and if there was an issue deal with returns if there was any. I agree that 49 percent of bid is very low but there of course a dealer will be lower... they still have to do all the work. Plus if it was pretty common stuff it will take them a while to get money back on the stuff they purchased.

Again I'm in no way saying 49 percent of bid is a good number but not all dealers would pay that low either

291fifth · February 28, 2019 11:07AM

@cucamongacoin said:
Greysheet seems to be the new "retail" in many instances

In the world of the Sunday bourse the graysheet has been the primary pricing medium for decades. If selling you can expect to get less than graysheet bid, often much less.

davewesen · February 28, 2019 11:41AM

@Cougar1978 said:
Good analysis confirms my take on the question and past experience. No surprise eBay super results

When u c them bashing eBay you now know why.

eBay results do not include shipping fees or supplies, eBay cut, PAYPAL cut.

it also figures hourly wage for doing all the work at ZERO.

Aspie_Rocco · February 28, 2019 11:54AM

Excellent thread concept. A great general resource for sales expectation information. Thank you.

matt_dac · February 28, 2019 11:57AM

I appreciate dealers and buy from dealers face to face, I want them to make money and keep the business going, but Graysheet to me is a tool dealers use to rip off uninformed collectors and has no application to real world selling prices. It's firesale pricing for someone who needs money quick.

opportunity · February 28, 2019 12:48PM

Let's not kid ourselves...many coins are over valued by the Greysheet.

dan_marinelli · February 28, 2019 1:15PM

So with the bay you're looking at 86 or 87 percent. If there's any fees in your local auction you need to account for that. My coin club charges 5% and also a fee if an item doesn't sell. On bst you will have shipping costs. On small dollar coins those can be substantial.

ebay a good option especially if you have spent time in the past selling coins and building a goodwill factor.

logger7 · February 28, 2019 1:21PM

Any profit will be based on where you bought the coins. If you bought them from a dealer in the last couple years you will very likely be losing money, especially if you sell them back to dealers.

jmlanzaf · February 28, 2019 6:30PM

@jgenn said:
Versus Greysheet is useful but, if it's not too personal to ask, how did you make out versus your costs to acquire? As someone getting to point when selling will become more common than buying, I'm very interested in other collectors' outcomes at various venues.

The greysheet number is far less personal and far more reasonable to compare to. The purchase price will depend on many factors, not least of which is the year purchased. Your purchase price bears no comparison to his, while the Greysheet is universal.

savitale · February 28, 2019 6:30PM

@jgenn said:
Versus Greysheet is useful but, if it's not too personal to ask, how did you make out versus your costs to acquire? As someone getting to point when selling will become more common than buying, I'm very interested in other collectors' outcomes at various venues.

No idea. The majority of these I acquired as a teenager in the late 1980's. Resale was not on my mind at the time. I enjoyed having them back then but they just don't fit with my grown-up collection now.

jmlanzaf · February 28, 2019 6:32PM

@davewesen said:

@Cougar1978 said:
Good analysis confirms my take on the question and past experience. No surprise eBay super results

When u c them bashing eBay you now know why.

eBay results do not include shipping fees or supplies, eBay cut, PAYPAL cut.

it also figures hourly wage for doing all the work at ZERO.

That's not the biggest comparison problem. If you took a bunch of mint sets to a dealer, a bag of 90% to BST and sent slabbed Morgans to GC, and raw buffalo nickels on eBay, you can't really compare the percentages. [Or any other mix]

jmlanzaf · February 28, 2019 6:34PM

@habaraca said:
you been getting taken advantage of my friend......
dealers ripping you at 49%

You really can't know without knowing what was sold in which venue. 49% seems low, but if it was a bunch of U.S. mint sets, it's hard to get over 70% from anyone.

jdimmick · February 28, 2019 11:24PM

49% percent seems low in relation to greysheet selling to a dealer across the board, however, if its 32-d quarters , 38-d halves, 21 peace dollars , 28 peace, 27-d low grade slq's and stuff like that, that's probably not far off

ricko · March 1, 2019 6:41AM

When I read threads like this (selling and the associated issues/fees), I am happy that I do not sell coins... Cheers, RickO

yspsales · March 1, 2019 6:56AM

I spent nearly 7 roundtrip hours driving to a Charlotte show a few weeks ago.

Could have spent the time listing items, scanning, or cherrypicking.

So on the flip side... with ebay there is no cost in gas, parking fees, food, and any other expense attending shows. No negotiating with uninterested dealers.

In many years and thousands of transactions dealing with collectibles, I have rarely had anything more than an occasional minor issue. Vast majority of those have been the <$10 variety.

No haggle 50 to 70% net after fees?

I will take it all day.

It's not what you sell, it's how you buy.

Keep selling to keep the cash flow and get better on the buy side.

jonruns · March 1, 2019 7:25AM

Thanks for the OP...the information is very informative...appreciate you taking the time to share!

Depending upon the dollar value of the sale...I would probably take half of Greysheet from a dealer to avoid the hassle of Ebay...after fees and shipping Ebay is probably a lot closer to half anyway on a smaller sale...IMHO GC is the way to go...

Cougar1978 · March 1, 2019 9:57AM

Raw coins just start them on eBay at 99c - free shipping or melt if your a serious seller.

On the bourse a dealer may pass or offer say 50 pct of bid or less factoring in slab cost or risk of body bag, details or for that matter just offer melt. Basically some number which allows good flip result.

Or send to GC where they will submit them for grading then auction. That’s what I would do if bought collection of raw pieces worth slab cost. Then get them graded and flipped in one move.

asheland · March 1, 2019 11:22AM

Half of sheet to a dealer isn't necessarily a bad deal. It really depends on what it is...

acloco · March 1, 2019 11:37AM

Sell any at local coin club meeting?

Thank you for sharing the raw data.

Wabbit2313 · March 1, 2019 12:46PM

I don't know how someone can even compare Greysheet to raw coins. Who is assigning the grade to base the price on? The buyer will think it is lower and the seller the opposite. That said, how can you get 99% of sheet on eBay? Based on what?

savitale · March 1, 2019 9:16PM

@acloco said:
Sell any at local coin club meeting?

Thank you for sharing the raw data.

No, I've never been to a local coin club meeting.

Cougar1978 · March 2, 2019 9:32AM

For your raw coin results you did really well. Much more than I would have expected.

ShadyDave · March 2, 2019 9:48AM

Selling directly to other collectors will always net you the most $$$.

Thanks for sharing your info!

jmlanzaf · March 2, 2019 10:20AM

@ShadyDave said:
Selling directly to other collectors will always net you the most $$$.

Thanks for sharing your info!

This is NOT true. Selling to a motivated buyer nets the most. I've been at coin club when I could have bought everything in the auction and wholesaled it for more than those collectors were paying.

A collector wants a bargain also.

Wabbit2313 · March 2, 2019 11:10AM

@jmlanzaf said:

@ShadyDave said:
Selling directly to other collectors will always net you the most $$$.

Thanks for sharing your info!

This is NOT true. Selling to a motivated buyer nets the most. I've been at coin club when I could have bought everything in the auction and wholesaled it for more than those collectors were paying.

A collector wants a bargain also.

So wondering why you didn't?

jmlanzaf · March 2, 2019 11:36AM

@Wabbit2313 said:

@jmlanzaf said:

@ShadyDave said:
Selling directly to other collectors will always net you the most $$$.

Thanks for sharing your info!

This is NOT true. Selling to a motivated buyer nets the most. I've been at coin club when I could have bought everything in the auction and wholesaled it for more than those collectors were paying.

A collector wants a bargain also.

So wondering why you didn't?

Because I don't want to annoy either the buyers by running them up or the sellers by having them realize they could have done better by selling directly to a dealer. You just can't win. People often blame the bearer of the news for the news itself.

Raw coin selling results

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