Where to sell proof sets

seaninsa

My dad who passed away earlier this year for some reason bought a lot of proof sets. He had also bought other coins which I have sold. Where can one sell proof sets? From what I can tell there is not a really big market for these coins.

Hemispherical

@seaninsa said:
My dad who passed away earlier this year for some reason bought a lot of proof sets. He had also bought other coins which I have sold. Where can one sell proof sets? From what I can tell there is not a really big market for these coins.

Sorry for your loss.

You could try the Buy, Sell, Trade forum.

privatecoin

Agree, try the BST here first.

skier07

CoinStar

jmlanzaf

I'm very sorry for your loss.

I'm also sorry about the questionable advice you are getting here.

1. Do not put them in a CoinStar. There are a few Mint Sets that you might as well do that with but proof sets have not quite reached that level.
2. Do NOT put them on the BST unless you know the exact value of the sets. Adding shipping costs to sets of minimal value is not the most efficient way to sell these. And if you don't know the greysheet value of them, you risk selling them for less than you can get from the local coin store.

If you have a local coin store that is willing to pay 25% to 30% below greysheet bid, sell them every post-1970 set you have and just be done with it. If you have any 1964 or earlier sets, you may do better with those if you can find a retail buyer but realize that a 1964 set is under $20 these days and adding $3 in shipping to a $20 set + 3% Payal fees is likely not terribly efficient for the extra $1 or so over the coin store. How much is your time worth?

If you have any 1955 or earlier proof sets, those have value and could be worth taking the time to find them the right home. But, even then, what is your time worth?

Hemispherical

Comes down to two things:

Are you trying to make a profit or not? Actually any $ made IS a realized profit to you/Estate; maximizing, as @jmlanzaf mentioned, will take time.

Post what you have and everyone can opine on what to do with them.

Edit to add: I see someone has approached you via your “wall” space. That is not a private message (PM) so replying there will be visible to all. Recommend you send personal information via PM.

erwindoc

The local shop has stopped buying them. I have had decent luck on ebay, but they are not hot sellers. Id make sure the earlier ones(70 and earlier) are not cameo before selling.

ricko

Good advice above....I recommend any earlier than '70, check general value and try the BST (no fees)....Cheers, RickO

BStrauss3

@Hemispherical said:
Actually any $ made IS a realized profit to you/Estate; maximizing, as @jmlanzaf mentioned, will take time.

That's not true in all jurisdictions. I'm not a lawyer but have been through the process in one state (YMMV)...

As part of the probate filing, the individual who is petitioning to be appointed executor/personal representative needs to file a rough estimate of the value of the estate. In Florida, for example, estates under $75,000 can use an expedited process instead of a formal probate. But if it's at all close the attorney will err on the side of a formal probate. That estimate is going to be based on the information you have, such as a greysheet value.

One appointed, as the executor/personal representative, you then have a fiduciary obligation to either turn over the assets to the heirs according to the will or sell them for as much money as you can to raise cash for debts and/or turn the cash over to the heirs.

Profit has a specific meaning (value above cost) and only enters into the picture for estate taxes (state/Federal). Even if no state tax is due, you will have to file an affidavit of this. And an estate tax return to the Feds. Even if no tax is due. It's like in high school, you have to show your work.

Effort doesn't enter into it unless the estate hires a professional to act as executor/personal representative, or the court appoints one. The joy of serving as the named executor/personal representative is that you have to be bonded but don't get paid for your time.

Hemispherical

@BStrauss3 said:

@Hemispherical said:
Actually any $ made IS a realized profit to you/Estate; maximizing, as @jmlanzaf mentioned, will take time.

That's not true in all jurisdictions. I'm not a lawyer but have been through the process in one state (YMMV)...

As part of the probate filing, the individual who is petitioning to be appointed executor/personal representative needs to file a rough estimate of the value of the estate. In Florida, for example, estates under $75,000 can use an expedited process instead of a formal probate. But if it's at all close the attorney will err on the side of a formal probate. That estimate is going to be based on the information you have, such as a greysheet value.

One appointed, as the executor/personal representative, you then have a fiduciary obligation to either turn over the assets to the heirs according to the will or sell them for as much money as you can to raise cash for debts and/or turn the cash over to the heirs.

Profit has a specific meaning (value above cost) and only enters into the picture for estate taxes (state/Federal). Even if no state tax is due, you will have to file an affidavit of this. And an estate tax return to the Feds. Even if no tax is due. It's like in high school, you have to show your work.

Effort doesn't enter into it unless the estate hires a professional to act as executor/personal representative, or the court appoints one. The joy of serving as the named executor/personal representative is that you have to be bonded but don't get paid for your time.

I have had the experience for a loved one who did not have a will.

Sorry OT.

291fifth

@erwindoc said:
The local shop has stopped buying them. I have had decent luck on ebay, but they are not hot sellers. Id make sure the earlier ones(70 and earlier) are not cameo before selling.

The market is flooded with this kind of material. I'm not surprised to hear that some shops have stopped buying it altogether.

BillDugan1959

1971 and 1972 Proof Sets get cracked and directly go to Coinstar. Other sets are on a case by case basis.

Maintaining Good relations with the few regular coin buyers out there means that you don't offer them dreck.

AUandAG

Post a list of the years and then let us give advice....not enough info here yet.

bob

joeykoins

What AUandAG sez; Good advise above: " A picture is worth a thousand words"! or even better, a thousand Dollars!

Kkathyl

Modern Coin Mart and other Big sellers take mint sets so you can contact them and ask for the Buyer.