Question for dealers... I have been asked to "bid" a large raw Lincoln cent collection.
Coin Finder
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Lots of books (5) full with all dates and keys.... Some may have cleaned coins some not, some may have a little of both.
Questions: Do I use greytsheet backed off of course or auction results, backed off of course?
I intend to make money on these and have told the person this. They are fine with that, just want a fair offer.
Any advise would help? Thanks
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Comments
I would make darn certain that the keys are genuine, since that’s where the money and the risk is.
Then I would use both greysheet and auction records to price these.
The rest of them greysheet is fine, with your price adjustment to ensure profit factored in.
Maybe recommend slabbing the keys if the seller has time. May be beneficial to you as buyer and them as seller. If the keys do well it may be an indication of how the rest will do.
Agree with Walkerguy, make sure the keys are kosher.
Anything I buy, I use very recent auction results as my guide.
Where are you selling them? You need to know. A Stack's auction result is of no use if you aren't selling at Stack's.
That's the first thing you have to figure out.
Mint state or circ sets?
Circulated , old Whitman books...
Be very conservative on your bids.
The keys will be easy to sell.
The rest.....ummmm....unless nice high grade circs, are more of a hassle to handle, package and sell than they're worth...which is why you see so many "stripped" sets missing the 09-S, S-VDB, 14-D, 24-D and 31-S.
Those are sets in which the dealer selling them literally has "nothing" in them
.
He's already made his money.
Did you mean 22-Plain rather than 24-D?
Agree that with most circulated Lincoln cent sets the value is in a very small number of key date and semi-key date coins with the rest being worth very little.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Unless the keys are worth slabbing (and there is another cost), I would pass on the deal....Cheers, RickO