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Martha Washington Test Pennies/Medals...Now Graded. How to Auction/Sell? Help!

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  • jmlanzafjmlanzaf Posts: 33,531 ✭✭✭✭✭

    @ddgaff said:
    Thank-you Everyone for the advice!

    Heritage has told me my consignment needs to be at least $5,000.00 in value. I expressed interest in auctioning one coin/medal.

    I will keep trying...

    ddgaff

    You can consign to heritage through a dealer and, sometimes, get a better percentage as a result

  • JBKJBK Posts: 15,364 ✭✭✭✭✭
    edited June 19, 2020 12:03PM

    @jmlanzaf said:

    @ddgaff said:
    Thank-you Everyone for the advice!

    Heritage has told me my consignment needs to be at least $5,000.00 in value. I expressed interest in auctioning one coin/medal.

    I will keep trying...

    ddgaff

    You can consign to heritage through a dealer and, sometimes, get a better percentage as a result

    Interesting. So the $5000 minimum is likely a total instead of per coin value.

    Maybe you can find a dealer who will buy one outright (or sell on consugnment) and to the auction submission also.

  • jmlanzafjmlanzaf Posts: 33,531 ✭✭✭✭✭

    @JBK said:

    @jmlanzaf said:

    @ddgaff said:
    Thank-you Everyone for the advice!

    Heritage has told me my consignment needs to be at least $5,000.00 in value. I expressed interest in auctioning one coin/medal.

    I will keep trying...

    ddgaff

    You can consign to heritage through a dealer and, sometimes, get a better percentage as a result

    Interesting. So the $5000 minimum is likely a total instead of per coin value.

    Maybe you can find a dealer who will buy one outright (or sell on consugnment) and to the auction submission also.

    Yes. Obviously they won't take 500 $10 coins either. LOL.

  • Ike1964Ike1964 Posts: 233 ✭✭✭

    I would send one to Great Collections and see what the market brings. I would definitely keep one for myself. Good luck and a great story.

  • JBKJBK Posts: 15,364 ✭✭✭✭✭

    I have no experience with GC but people here mention them so they are a big auctioneer.

    Maybe sell one thru them to help get a baseline and then try to market some others yourself to dealers or collectors based on the auction price. Of course, if you sell directly you can take a bit less since you won't have auction fees to pay.

  • JBKJBK Posts: 15,364 ✭✭✭✭✭

    @ddgaff said:
    Coin People:

    A quick update; I have sent one of the "Marthas" to GreatCollections. I will update later on it's worth to someone after the auction ends. Seems the Gubment will get its revenge after all, in terms of capitol gains payment to the IRS. The IRS, THE most powerful government entity on the planet.

    Be well all.

    ddgaff

    Good luck! Pls do keep us updated.

  • coinbufcoinbuf Posts: 11,178 ✭✭✭✭✭

    @ddgaff said:
    Coin People:

    A quick update; I have sent one of the "Marthas" to GreatCollections. I will update later on it's worth to someone after the auction ends. Seems the Gubment will get its revenge after all, in terms of capitol gains payment to the IRS. The IRS, THE most powerful government entity on the planet.

    Be well all.

    ddgaff

    Once you have the auction lot number be sure to create a post on the BST (buy, sell, trade) section of these forums to get as much exposure as you can to your item.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • Namvet69Namvet69 Posts: 8,894 ✭✭✭✭✭

    Good decision. Just auction one coin for starters. Take your time. But do save the best of the litter for yourself. There's gotta be a standout coin in this group. Show us the one you keep. Peace Roy

    BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken

  • derrybderryb Posts: 36,675 ✭✭✭✭✭

    @JBK said:
    bump

    Let's get some ideas on how to sell.

    Great Collections, maybe Ian will get personally involved with helping this new seller out.

    The only way to make an economic system truly stable is to permit the free market to take over.

  • Klif50Klif50 Posts: 678 ✭✭✭✭

    I have sold quite a few coins through Great Collection, both slabbed and raw. They get the raw ones slabbed for you. I've been very pleased with the results of the coins I've sent them.

  • 1630Boston1630Boston Posts: 13,778 ✭✭✭✭✭

    Congrats on your accomplishment :)

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • 1630Boston1630Boston Posts: 13,778 ✭✭✭✭✭

    Pattern (1982) 1c J-2180 Martha Washington PCGS MS-64 RD CAC

    can't wait to see the pic.

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • goldengolden Posts: 9,494 ✭✭✭✭✭

    Try Great Collections.

  • CaptHenwayCaptHenway Posts: 31,995 ✭✭✭✭✭

    Good luck!

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • JBKJBK Posts: 15,364 ✭✭✭✭✭

    Good luck. Let us know the hammer price!

  • keyman64keyman64 Posts: 15,499 ✭✭✭✭✭

    Are there Martha Washington Nickel and Dimes? I know there's a quarter and half at HA right now. It would be kinda neat to have a whole set. There doesn't seem to be a registry set for them that I noticed. Hmm

    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • philographerphilographer Posts: 1,312 ✭✭✭✭✭

    He who knows he has enough is rich.

  • JBKJBK Posts: 15,364 ✭✭✭✭✭
    edited August 14, 2020 5:49PM

    Fantastic!

  • keyman64keyman64 Posts: 15,499 ✭✭✭✭✭

    @keyman64 said:
    Are there Martha Washington Nickel and Dimes? I know there's a quarter and half at HA right now. It would be kinda neat to have a whole set. There doesn't seem to be a registry set for them that I noticed. Hmm

    Anyone know about nickels and dimes to make a complete set?

    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • ms70ms70 Posts: 13,953 ✭✭✭✭✭
    edited August 14, 2020 7:04PM

    One of the most fascinating parts of this story is that they were struck outside of a mint at an off-site location.

    Great transactions with oih82w8, JasonGaming, Moose1913.

  • Interesting write up, and good luck on the sale...

    www.sullivannumismatics.com Dealer in Mint Error Coins.
  • JBKJBK Posts: 15,364 ✭✭✭✭✭

    Today is the day!

  • pruebaspruebas Posts: 4,485 ✭✭✭✭✭

    Lots of luck as this hits the home stretch!

  • ZoinsZoins Posts: 34,113 ✭✭✭✭✭
  • CoinJunkieCoinJunkie Posts: 8,772 ✭✭✭✭✭

    Nice result. Congratulations!

  • Namvet69Namvet69 Posts: 8,894 ✭✭✭✭✭

    I'm happy for you. What an adventure that was. The coin looks great on that holder. Peace Roy

    BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken

  • WaterSportWaterSport Posts: 6,758 ✭✭✭✭✭

    Nicely done!

    WS

    Proud recipient of the coveted PCGS Forum "You Suck" Award Thursday July 19, 2007 11:33 PM and December 30th, 2011 at 8:50 PM.
  • davewesendavewesen Posts: 6,062 ✭✭✭✭✭

    ddgaff, congrats and are you going to upgrade your 2002 Chevy Avalanche? I did like the TruViews of some of the others better.

  • KliaoKliao Posts: 5,551 ✭✭✭✭✭

    Congrats!

    Collector
    75 Positive BST transactions buying and selling with 45 members and counting!
    instagram.com/klnumismatics

  • ms70ms70 Posts: 13,953 ✭✭✭✭✭

    Don't be a stranger!

    Great transactions with oih82w8, JasonGaming, Moose1913.

  • mannie graymannie gray Posts: 7,259 ✭✭✭✭✭

    GC will do you right and they have quite a strong following.
    Great operation that Ian runs.
    I would unhesitatingly recommend them.

  • NumisOxideNumisOxide Posts: 10,997 ✭✭✭✭✭

    Congrats! Awesome.

  • ddgaffddgaff Posts: 21 ✭✭✭

    Folks:

    As an update, I reached out to Legend Rare Coin Auctions in an effort to possibility sell another "Martha". Their reply was:

    ___"Hello David,

    Thank you for reaching out to us! This coin is very modern and we specialize in older coins.
    Thank you,"___

    I guess their name should be: "Legend Rare "Ancient" Coin Auctions". Heck, I'm only 66 years old. It is comforting to know I'm not really THAT old.

    I do understand though. Old is relative. Our planet has been revolving for four-plus billion years...that's old!

    I will try another auction company. I really am in no hurry, just curious as to the interest in the collector community to this rare "pattern coin". This whole experience has been enlightening (thanks to you all), and a bit entertaining to be honest.

    Be well my friends!

    ddgaff

  • CoinJunkieCoinJunkie Posts: 8,772 ✭✭✭✭✭

    @ddgaff said:
    Folks:

    As an update, I reached out to Legend Rare Coin Auctions in an effort to possibility sell another "Martha". Their reply was:

    "Hello David,

    Thank you for reaching out to us! This coin is very modern and we specialize in older coins.
    Thank you,"

    I guess their name should be: "Legend Rare "Ancient" Coin Auctions". Heck, I'm only 66 years old. It is comforting to know I'm not really THAT old.

    I do understand though. Old is relative. Our planet has been revolving for four-plus billion years...that's old!

    I will try another auction company. I really am in no hurry, just curious as to the interest in the collector community to this rare "pattern coin". This whole experience has been enlightening (thanks to you all), and a bit entertaining to be honest.

    Be well my friends!

    ddgaff

    FYI, ancient coins are more like Greek- and Roman-era. The kind of stuff Legend typically handles are classic coins. What you have are modern. If I were you, I'd keep auctioning them at GC, since you got a great result there. I'd probably space them by 3-6 months each.

  • keyman64keyman64 Posts: 15,499 ✭✭✭✭✭

    I agree, keep it going at Great Collections. Ian has already proven that he does a great job for you. If it ain't broke, ...

    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • ddgaffddgaff Posts: 21 ✭✭✭

    Gents:

    Great Collections, and Ian did a wonderful job! I was thinking (perhaps wrongly) maybe a different venue...different clients? I don't know. Maybe I'll take a month or three off. Oh god! that is fall, and winter follows...too much computer time between snow storms and Covid #19 in the Northeast...

    Thanks for the advice folks.

    ddgaff

  • JBKJBK Posts: 15,364 ✭✭✭✭✭

    I like your thinking about targeting different client bases. But since you have a few you could ask GC if they think another auction in a few months would be advisable.

    If there are any dealers in patterns and the like, maybe try to sell one outright. You would get a little less, but it would be a quick sale and would be under the radar so the market won't seem like it is being flooded.

  • davewesendavewesen Posts: 6,062 ✭✭✭✭✭

    if you want to try another auctionhouse, you could try www.goldbergcoins.com - they seem to auction quite a few patterns, and there is always eBay. There are some members here that sell on consignment (bigger cut after eBay, PAYPAL, consignment).

  • ddgaffddgaff Posts: 21 ✭✭✭

    Coin Folks:

    My saga continues. Evidently, some time ago, I must have found two more of these Marthas. And in doing so, I must have thought it a good idea to "shine" them up and put them in a plastic sleeve for my two sons. I came upon them in a small safe we keep important papers in about a month or so ago (still cleaning). I remembered what you all said about not even looking at them the wrong way. But it was too late when I re-found them. "Oh crap! these look too shiny." was my first thought.

    I sent them to PCGS anyway, thinking getting them encapsulated would be a good idea. (I should have posted here first I'm thinking). They just came back with a "Genuine" "Cleaned" grading.

    What have I done??? Ok, ok, I know I'm an idiot; but as I said early on, I know little or nothing about coins except spending them for chewing gum. And back then, whenever that was, I knew even less when I stupidly polished these.

    Your advice and information has educated me immensely in the past five or six months. And I again, I thank-you for that.

    So, did I ruin these two pattern pennies?

    Trust me, I can take it...do your worst. Kidding of course.

    Be well all!

    ddgaff


  • davewesendavewesen Posts: 6,062 ✭✭✭✭✭

    did not ruin, bit probably cut value to between 20-40% of others

  • ddgaffddgaff Posts: 21 ✭✭✭

    Coin Folks:

    Yes, It's me again. I thought I would give you all a little "head's-up" and some news about another Martha going to auction.

    This Martha Pattern is going to be auctioned through Regency!, and, it is a PCGS Members Only Show Auction in Las Vegas. The auction is Regency Number 43, at The Venetian, on February 25th 2021. There are 344 lots for auction and my Martha is...you guessed it; number 344. I think the online bidding begins tomorrow. I'm not sure.

    If you all may recall, this was the house that said Martha was not worthy...very early on in my pre-auction/learning days last year. Thanks to all of your wonderful advice, it turns out "she" is indeed worthy. So, we will see how this one fares. It is similar to the first one I sold, in that it is a PCGS MS64 RD. They tell me it has a rarity of +7; whatever that means. It does have a carbon spot right on Martha's forehead, but I am sure pleased that I did not try to "clean" that one.

    Be well my friends...and...bid early, bid often!

    Godspeed;
    ddgaff

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