Coin Valuation
hbarbee
Posts: 195 ✭✭✭
This may be a question without a good answer, but I wanted to solicit your inputs anyway. If one wanted to sell individual coins in the marketplace such as on eBay or to a dealer, what would be the best method for determining the asking price.
I am familiar with most all of the pricing sources from the PCGS Price Guide, the Greysheet Publications, recent auction activity, etc. Then there are the wildcard factors such as eye appeal for the grade, CAC Verification, etc.
Primarily asking for the benefit of my heirs who would inherit a valuable collection and would like to realize the maximum return on my investment.
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Comments
99c auctions over seven days and let it ride.
peacockcoins
Your inheritors are very likely to not care, nor have the time to look into selling it properly. Make sure you set a contingency plan up before you die, and check in on it annually. Then give them specific instructions that are easy to follow, IE "Call Joe Jabroni at Jawn Auctions, #XXX-XXX-XXXX to auction these for you when I pass, we have an agreement already in place" and expect there's still about a 50% chance they walk into the nearest shop they can find and take whatever they get offered.
The best way maximize the returns is to just sell it yourself before you die.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
If it’s for your heirs, either liquidate while you’re still around or hook them up with someone you trust to help them through it when you’re gone. What you’re familiar with won’t be of much use once it’s inherited.
To help them out in the event of something unexpected, just keep a paper with the collection stating a ballpark wholesale/retail spread with some liquidation options/sites/numbers and they can go from there.
Good luck. I commend your planning and hope it’s not needed for a long time.
Sell it to this guy!
The standard advice I give (and yes I know no one is asking me) is to liquidate and leave the money for your heirs. If you leave the coins, that's good for me and other dealers. I have seen everything. Heirs liquidating right away, some stash it away too afraid to do anything with it because the original collector had instilled an incorrect market value and are afraid of getting ripped off. Other families just taking the lot and stock and sending it to PCGS or NGC. That's pretty much the number one way we get $2 coins in $25 slabs by the way. At least while you are around, you have the knowledge to unwind the collection however you decide in a better fashion than someone who is clueless about the industry. A lot of coins in pawn shops are a result of someone "leaving" something like coins to their heirs. Ever see a pawn shop without coins? Does anyone believe that pawnshops pay the strongest for coins? Yet they are full of them. Do you think they are buying from collectors?/
If you care about the return then sell before you die or become incapacitated. Do not saddle others with your obsession.
In honor of the memory of Cpl. Michael E. Thompson
Either sell prior to your demise, or make the arrangements for the sale through a trusted, knowledgeable dealer. Cheers, RickO
To your point:
I don't know when this set was ever worth $82.75 and it certainly didn't appreciate 5% per year since 1979.
My son half jokingly tells me he’ll sell my coins on eBay when I die. I don’t know when I’ll die but I will try my best to have a minimal number of coins when I do.
I have a good friend who works at Stacks. He’s told me multiple times that an estate will consign a nice collection with him but they will flat out refuse to spend the $15 to have JA look at the coins. They don’t want to spend any more money and for the most part they have no idea what they’re doing. But at least they were smart enough not to sell to a local dealer.
I'm just not seeing CAC making a big difference in a major auction myself. Sticker or not the good coins bring what they should. Sounds like some smart consignors to me!
Yeah, you CAC lovers beat me to death. The coins where it would really make a difference are for experienced collectors that don't need 1 man's opinion IMHO!
Actual auction results tell a different story.
I get the "dispose of them before you die" replies, but to be fair, no one knows when that time will be. Could be run over by a truck tomorrow. It doesn't hurt to have a plan in place. My advice:
First, have a written plan and store it with the coins. Ideally let your spouse or someone know beforehand. It is not always easy to talk about, but it will help them. Make sure to include things not to do (if you have slabbed early gold, don't let them bring it to a cash 4 gold place, etc.)
Include a contact number for someone you trust to help your heirs. This could be an auctioneer or a dealer. Make sure they know your approximate holdings and that they fit with their inventory. Don't try to get heritage to handle a bunch of loose Wheaties. If you are big on rare bust halves, David Khan is a great choice Etc. If you need advice on individuals to trust, this forum can definitely help recommend some based on what you have.
Label your stuff! Don't expect even an experienced individual to realize that your 1918 d buffalo is actually a 1918/7. Approximate values will help too.
If you need stuff done to get it marketable (submission to pcgs or CAC), do it now. Don't rely on your heirs. Make the process simple for them.
Really, what I am trying to say is, especially for people who are non experts (i.e., your heirs) WHERE they sell is much more important than a number you mark on a holder. A plan will help them know where to go and who to trust.
Aercus Numismatics - Certified coins for sale
Don't die with your coins. If your heirs have no interest in or knowledge of the coin market they are likely to do poorly when selling.
Did you read my statement???? There is no way to know without a multiple tests of the same coins being auctioned several times with and without the glorious green football!
It's unlikely your heirs will realize a maximum return on your investment unless they are willing to spend hundreds of hours researching value, photographing coins, listing them individually on eBay, dealing with shipping and returns, etc. It's probably not realistic. I would suggest giving them the name of one or two dealers you trust, or a major auction house if the collection warrants it, and let them be satisfied with 80-90% of "maximum return" with zero effort.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
It might be difficult to “know”, but it’s pretty easy to make a highly educated guess. It’s widely known that some buyers will pay more for and/or pursue only PCGS graded coins. Likewise, it’s also known that some will pay more for and/or purchase only CAC coins. That means that there are many cases in which CAC coins will bring higher prices.
There have also been numerous instances in which the same coin has sold at different times, both with and without a sticker and performed much better with the “glorious green football”. And there’s not a thing you can do about it.😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Please don't confuse the discussion with facts. He probably also believes that the same coin in a 66+ won't sell for more than when it was in a 66 holder. I mean, heck, I assume it would sell for the same when raw.
I have to LOL since I am close to the Biggest White Whale when it comes to AU58+ Barber Halves and have spent 5 figures making most of what I have!
Hopefully at that time I become deceased my inventory at or near zero. My whole purpose of RCI biz finance my other hobbies and interests. Oh I would leave them a copy from my library of “Looking Out for No 1.” I can’t take it with me but I sure as heck gonna use it.
Otherwise I have instructed them (1) take it to the largest dealership in the city (US Coins, Kenny) and liquidate it. Or (2) Next choice wb starting 99c on eBay no reserve. But if possible I will already have hopefully done that one last big VIP hurrah at the club, Ritz Houston.
Better tell them to start the cheap stuff 1st as it takes awhile to be successful with 99c auctions. Now a days most people I know including myself expect a shill bidder and just pass them on by!