My first try to sell a coin
smh
Posts: 38 ✭
Not even sure if you pros can help me, but here I go. I’ve spent the last month researching and studying my coins and would like to try my hand at selling a few. (I am new to coins and hooked!)
I have hundreds of coins, many in flips and inventoried, and others grouped by type. And still others in the old blue books. You can’t see the surface of my dining room table. I love it!
Here’s my question ... since none of my coins are graded, any thoughts on which coins to try? I have the Red Book and print outs from Internet sites with grading and pricing. Is there less of a chance of messing up with, say Barber quarters, as opposed to Morgan dollars? I guess I’m asking if it’s easier to determine one kind of coin’s worth versus another.
Hope this question isn’t too odd. Thanks, all.
Comments
Unless you have an eye for grading, it may not be worth it. Look at pictures of graded coins, and compare the condition to yours. Then determine how much more a coin is worth in a higher grade than a lower, and make sure the extra grading fees are worth it. Educate, read, look, ask questions and post pictures. Dont jump in too quick or you could be wasting money you could be using to buy better coins already slabbed.
@smh welcome, couple of things to do. You should understand grading, most are attracted to high grade coins. Age and Condition are part of the value. Rarity is important. Practice close up, sharp images of coins. The BST is the place to do it. Good luck. 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 oih82w8, DCW
Glad to see you are doing your homework
You might want to get some pictures of common silver Washington’s or Roosevelt’s and start from there then to the barbers and then Morgan’s too get opinions of value
Good luck
Frank D
Post a few on this forum to get an idea of grade and opinions.
Then look at sold listings on ebay.
Images... Use soft natural light and fill the entire frame.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Selling is tough. Your best coins will sell the quickest and then you’re left with the harder to sell lesser coins which are probably what should be sold instead. Jmho
Try using photograde to get an idea of what the grade might be.
https://www.pcgs.com/photograde
Define "messing up"...
Post 5 coins at a time on the forum and get opinions as to grade, saleability opinions, in other words whether the coins are of the type, color and originality that will sell well. Then check ebay, pcgs and internet for examples of sold coins of the type, be sure they are sold and not just closed. Trying to learn grading to sell is something that takes a while and not before selling the first time. I wish you best of luck. Your pictures should be straight on and in focus of obverse and reverse in able for anyone to be able to help you.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
What sort of material are we talking about? The advice for coins worth $10 each is different than the advice for coins worth five and six figures.
I assume you want to sell a few to get your feet wet on the selling side, not to liquidate the entire collection, right? The amount of time between the decision to sell and receiving payment for the coins will dictate how you sell.
Can you post some photos of a few that you're considering selling?
Check out the PCGS Coin Facts web site. It gives pricing and rarity information for each US coin. Also, there is a grading section with photos of each coin type in each grade.
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
There is no one way to sell, I suggest that you pick five coins that you like the look of. Take good close up in focus photos and post them here for some guesses as to the grade and price. Then take the consensus of that info and list on ebay and see how it goes. If any sell for close to what you think they should then your on the right path.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Start it at 99c on eBay / free shipx and you should find out.
you're going to need pictures.
post some here of the ones you think would be an easy sell.
If I want to have a raw coin graded before I sell it, I will usually send it into GC and have them grade it for cheaper. It's kind of fun to compare my "grade" with the actual results. I also ate a lot of details grades in my early attempts.
Put it on eBay at the lowest amount you'd be willing to accept and see if you get any bids.
The 99c option is not a good play usually - if you just happen to hit a window with little interest in your coin, you'll end up giving it away.
Successful BST Transactions: erwindoc, VTchaser, moursund, robkool, RelicKING, Herb_T, Meltdown, ElmerFusterpuck, airplanenut
Ebay is definitely the best place to sell ungraded coins.
You must take excellent pictures though.
Start them at $1.00 and the final price will be the true value.
I've been selling on Ebay since 1998 and even though the costs keep increasing, It's still the best way for me to sell (and buy too!!).
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Selling coins is easy... selling them fairly or for profit is a bit more complex. You see from the above input, that grading properly is a first step to understanding value... This takes time to learn. Some good inputs for you to study here. Good luck, Cheers, RickO
You’ll need to develop a strong understanding of grading and what problem coins look like. That takes time and looking at a lot of coins. It would be fine to start with pics posted here and to get opinions but grades and problems can be tough to pick-up from static pictures.
Perhaps you have a dealer nearby who has grading skills and is willing to work with you to get you calibrated. Take a few coins and go through them together. That won’t make you an expert, but it will help you down the path. He may do this for free or it might be a nice gesture to pay him a little or to buy something you like from his stock.
You guys offer such valuable advice. I know I have to get some pictures up here - definitely a priority and will do ASAP. From what I just read in another discussion, should I be using a real camera and not my phone (I 12)? Really don’t want to invest in a camera ...
And, I’ve been thinking that if I had started with coins earlier in my life, I might have become a pretty proficient grader. Coins are so interesting, and so often beautiful, and I really love researching them (the librarian in me).
Five weeks ago, I never would have known a coin could have an actual history.
Thanks, all!
Develop your photographic skills as that is the most important part of selling coins online.
Your 12 iphone camera can take decent pics. No need for a separate camera.
"Got a flaming heart, can't get my fill"
You can take some good pictures with your phone. This too is a learning process. The camera imo must be steady so make sure you rest it on a firm base. I use a small, sturdy carboard box to hold mine. I determined the height of my I phone is best at 6". The lighting is critical. I use the "OTTLITE" lamp from BestBuy thru eBay. Here is where you can practice for hours to develop your picture taking skills. No real cost as you can snap pic after pic until you get the one that really shows your coin at its best. I would start by researching one particular coin type say Jefferson nickels as mentioned above by
Research the details why a coin makes this particular grade. In time you will get better and better at the coins approximate grade.
Best of luck and keep us informed on your progress and Welcome Aboard.
Wayne
Kennedys are my quest...
Quick question, have you noticed a reduction in prices you get for coins you sell now that Ebay charges the mandatory sales tax in most states?
I don't know whether or not the sales tax has slightly reduced selling prices or the state of the depressed coin market.
Either way, selling prices are down, but I'm still hanging in there!
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
It was a factor at first. people have now become used to it.
MY Ebay sales are fantastic
Ditto.
And for some reason I've had a huge surge lately. It corresponds with my switch to managed payments. I wonder if I was getting suppressed search or something
Whatever you do, do NOT start auctions at $1 and let them find their price. They often (usually?) won't, especially if you are not an established seller with a following.
As I do always for the major auction houses, I do now for eBay. I set my "max bid" or "buy now" offers, by reducing the amount of my state sales tax. I will also reduce this amount if the shipping cost, IMO, is ridiculous. Sometimes I win and sometimes I lose. I do limit my purchases and offers to only coins that will upgrade my registry sets. This keeps my biddings rare and not often.
Best to all.
Wayne
Kennedys are my quest...
selling coins depends on the market for one, what people want and how much people are willing to pay for the coins
COINS FOR SALE AT LINK BELOW
https://photos.app.goo.gl/nsmVf19aEVMRquVw6
Nope
You need to post photos of some of your coins here. Not a lot of photos but just a good selection of the coins you want to sell along with your own evaluation of the grade of each and the asking price. With that you will be able to get responses from this forum that might actually help you.
Without photos you are just not going to get any worthwhile responses to your initial question.
Thank You very much!! > @HighRelief said:
How has it gone @SMH? What have you found in selling coins? > @smh said:
There is a lot to look for when grading like type, mints, variety, years, vams, ddo, ddr, RPM, MPM, Quality. Just take 5 coins with you and ask a shop to help you if you don’t know anyone that can look at them with you you will need some pointers but don’t sell them till you know 100% what you are doing.
Hoard the keys.
Where is the best place to sell coins? I live in Arizona and I have two 1982 D Pennies One with small date and other with large date…
What makes you think either of these coins is worth more than $.01 face value?
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
@Angelluck - The best place to sell those is at the store the next time you go shopping. You'll get a fair value of 2 cents. Seriously... but hey---WELCOME to the forum.
Good luck!
You should probably focus on coins that will pay for your time to examine them, take good photographs, post the details, package to ship,, process payment, etc. You don't want to waste time on coins that are ot going to cover your cost of going through this process.
According to the PCGS price guide there are ten Washington Quarters that are valued at $100 or more in XF-40. I'm mentioning XF because grading higher coins is going to be more challenging and prone to making costly errors. If you have a couple of these coins (depending on what you paid for them) there may be enough margin to make it worth your while to go through the process mention above to sell them.
If you have Barber Quarters or Franklin Halves where you can separate them out for possible candidates just based on the pricing of XF coins that might be a way to start and avoid suffering a major loss because the grade was off. I'm generalizing but a mistake on an XF coin might be a $20 mistake while a mistake on an MS coin could mean hundreds of dollars.