What's the best way to sell coins?

CalifornianKing

I'm thinking about selling several of my coins, most are in the 100-300 dollar range. one is price guided at 1000ish dollars. Is the best way to sell them on BST? Sending them to Great Collections, DLRC, Heritage? What will you recommend?

airplanenut

BST is free. Everything else depends on how much work you want to do and how good you are. If you can’t take a good picture, your results will suffer probably on the BST and definitely on eBay. If you can do a good job and don’t mind the extra work, selling by yourself may net you more.

crazyhounddog

BST is free like Jeremy said. After that I suppose eBay gets a lot of action.

BJandTundra

For lots of money $$$!!!!!!!!.

bennybravo

I agree with Jeremy. Ebay isn't what it used to be, but still viable. If you can take nice pics, set a decent reserve and you might do alright there if you can't sell here.

scotty4449

I used to sell coins on ebay and Great Collections, but now I only sell on GC. GC has low seller fees and I think they are less hassle than ebay. Big plus for ebay though is you get to keep your coins until they sell. I have also heard people complain about GC pictures, but I think they are pretty good.

TurtleCat

Like most things it has to do with how much work you want to put into it. Just remember that selling collectibles may lead to a 28% capital gains tax. So if you sell through a place you may have a 1099 to deal with and you’ll want to have receipts for the coins you sell (from where you originally purchased them) so you don’t lose 1/3 of whatever you sold that you can’t prove the cost of.

steelielee

With a lot of patience

CalifornianKing

@TurtleCat said:
Like most things it has to do with how much work you want to put into it. Just remember that selling collectibles may lead to a 28% capital gains tax. So if you sell through a place you may have a 1099 to deal with and you’ll want to have receipts for the coins you sell (from where you originally purchased them) so you don’t lose 1/3 of whatever you sold that you can’t prove the cost of.

thanks! I did not know that. Screw uncle sam, I'm not paying taxes!

airplanenut

@CalifornianKing said:

@TurtleCat said:
Like most things it has to do with how much work you want to put into it. Just remember that selling collectibles may lead to a 28% capital gains tax. So if you sell through a place you may have a 1099 to deal with and you’ll want to have receipts for the coins you sell (from where you originally purchased them) so you don’t lose 1/3 of whatever you sold that you can’t prove the cost of.

thanks! I did not know that. Screw uncle sam, I'm not paying taxes!

No taxes if you don't sell. Otherwise, what's a little law here or there?

Joe_360

Buy low, sell high...
What's the best way to sell coins?

TurtleCat

@CalifornianKing said:

@TurtleCat said:
Like most things it has to do with how much work you want to put into it. Just remember that selling collectibles may lead to a 28% capital gains tax. So if you sell through a place you may have a 1099 to deal with and you’ll want to have receipts for the coins you sell (from where you originally purchased them) so you don’t lose 1/3 of whatever you sold that you can’t prove the cost of.

thanks! I did not know that. Screw uncle sam, I'm not paying taxes!

Without condoning or condemning anything, it often happens that collectors sell at coin shows where cash is exchanged. Also you could consider trading your coins for an even better coin. I’ve done that recently where I’ve traded in lower value coins to buy a higher value one. You could get a good deal on a new coin (dream coin?) with a receipt as well.

Dave99B

If you're interested in mass eyeballs, eBay is clearly the way to go.

If you have lots of time, and are in no hurry to move the material (and you want to avoid fees), the PCGS BST is best.

Whatever way you go, spend time taking accurate pics. Better pics = more interest.

Good luck,
Dave

CalifornianKing

@TurtleCat said:

@CalifornianKing said:

@TurtleCat said:
Like most things it has to do with how much work you want to put into it. Just remember that selling collectibles may lead to a 28% capital gains tax. So if you sell through a place you may have a 1099 to deal with and you’ll want to have receipts for the coins you sell (from where you originally purchased them) so you don’t lose 1/3 of whatever you sold that you can’t prove the cost of.

thanks! I did not know that. Screw uncle sam, I'm not paying taxes!

Without condoning or condemning anything, it often happens that collectors sell at coin shows where cash is exchanged. Also you could consider trading your coins for an even better coin. I’ve done that recently where I’ve traded in lower value coins to buy a higher value one. You could get a good deal on a new coin (dream coin?) with a receipt as well.

Thank you! Also thanks for your PM.

Halfpence

Seems like folks recommend BST, but how do you protect yourself as the buyer? Is there a “middleman”, or does the buyer always take the risk (if they send money and the coin is never shipped). I’ve read horror stories on Reddit about such transactions.
The obvious risk on EBay for the seller is a claim from the buyer that a different coin was sent than purchased. Seems like the safest route is an in-person transaction, but then the selling price isn’t maximized.

Joe_360

Buy low, sell high...
What's the best way to sell coins?> @CalifornianKing said:

I'm thinking about selling several of my coins, most are in the 100-300 dollar range. one is price guided at 1000ish dollars. Is the best way to sell them on BST? Sending them to Great Collections, DLRC, Heritage? What will you recommend?

What is BST?

TurtleCat

BST is the Buy, Sell, Trade board on this forum. Overall it has been very good to many people although there have been some issues at times.

jmlanzaf

@Joe_360 said:
Buy low, sell high...
What's the best way to sell coins?> @CalifornianKing said:

I'm thinking about selling several of my coins, most are in the 100-300 dollar range. one is price guided at 1000ish dollars. Is the best way to sell them on BST? Sending them to Great Collections, DLRC, Heritage? What will you recommend?

What is BST?

Buy Sell Trade. Look on the menu on the right hand side of this site.

Cougar1978

Get an eBay store / sell at retail. The Bay the worlds biggest coin show. My retail sales this year there booming.

Best way sell: just good ole smash mouth buy low sell high. That’s how I roll online or table at shows.

After you sell a couple months there you will get a feel on variable and fixed sell expense then just markup accordingly.

Don’t let tire kickers there bug you - I just tell them like some computer bot lol “unless buy now / make offer already at our best price.”

Jimnight

BST
Ebay

pointfivezero

@CalifornianKing - lots of great advice here, as always.

I recently started a thread about flipping some Morgans with some insight into the process. It is a work in progress:

https://forums.collectors.com/discussion/1045949/common-date-morgans-flipping-update-1

At your price point, ebay is a good option. You could always try BST first as FSHO or ebay and BST as a FSH. As has been mentioned, the size of the ebay audience is hard to beat and at your price point, sales tax won't be much of a deterrence.
On the downside, you need to set up your listing with good photos and descriptions. It will cost you 13% between ebay fees and paypal, more if you offer free shipping.

I like to include some history of the coin, include lots of photos and use a bolded auction heading to separate myself from the other listings. For desirable items, I always start at $.99 with no reserve. That can be risky though.

Always check the "Display a larger image" option. I'm always suspicious when a seller bypasses this option on coina.

Good luck!

Tim

MFeld

@Halfpence said:
Seems like folks recommend BST, but how do you protect yourself as the buyer? Is there a “middleman”, or does the buyer always take the risk (if they send money and the coin is never shipped). I’ve read horror stories on Reddit about such transactions.
The obvious risk on EBay for the seller is a claim from the buyer that a different coin was sent than purchased. Seems like the safest route is an in-person transaction, but then the selling price isn’t maximized.

As a buyer, in order to protect yourself, you should request references from the seller.

EdGOhio

I've been using ecrater.com for the selling of items...not just coins either. You'll need a merchant account(easy peasy) and good quality images. 99% of the people use PayPal, protects the seller and buyer, as a payment option and CCs and other methods are available.
There is a shipping matrix to help with S/H to preset for your needs and a great community to assist when needed.
You can have it go through their MarketPlace and pay a 2.9% fee upon selling...NO EXTRA FEES ! or directly send someone to that particular coin/items and avoid paying the 2.9% but you'll need to do your own marketing for your items. I've had items there for 5 years and it doesn't cost me a dime. If not in a major rush it's a great venue really.

Ed G.

calgolddiver

Many who transact on BST are known and trusted members with good track records and lots of transactions. New members generally can require additional scrutiny and your control of the transaction (payment must clear). The bay seems to be a second choice of many but I steered clear of the bay many years ago. Good Luck !!

ReadyFireAim

I send them to DLRC.
https://www.davidlawrence.com

JB cuts me a check and I'm done.
Easy-peasy

ricko

I recommend the BST.... ebay fees and sales tax add up...Plus, we see the horror tales encountered here by many members selling on ebay. Sure, there are also lots of great sales there as well. But the BST has no fees and much less reported issues. Good pictures and descriptions help. Cheers, RickO

OldEastside

For Cash Giggle Giggle.........Yup the BST here is an excellent venue

Steve

CalifornianKing

@ricko said:
I recommend the BST.... ebay fees and sales tax add up...Plus, we see the horror tales encountered here by many members selling on ebay. Sure, there are also lots of great sales there as well. But the BST has no fees and much less reported issues. Good pictures and descriptions help. Cheers, RickO

Thanks!