Seeking help with a collection transition
Yorkshireman
Posts: 4,494 ✭✭✭✭✭
I need some advice from the gallery to help me find a dealer who would be willing to work with me to fairly convert a large pile / box of mostly British numismatic “stuff” into one or two nice high quality coins. I have some idea of what I want those to be, but need some guidance. Here is my story:
My father was a GI during WW II. My mother was English. She emigrated to the US after the war.
My dad was a collector with an emphasis on bulk. On every family trip, dad acquired and brought back home more lower grade , lower value coins : copper, brass, and silver. Much of it was sentimental to him with a large part of the joy being in the hunt.
At his death, I lost most of his coin stories.
I’m 60 now. It is time to convert that box of stuff into something of higher quality and less volume to pass as a legacy to my sons.
I consider myself a fairly smart guy and somewhat experience collector. I am working to be a “Box of 20” collector.
My plan at this point is to eventually have one US box of 20 and one International box of 20.
I need help in this endeavor. I have been on the show circuit for years now, but don’t think I yet know the dealer for this job.
I have long planned to take this collection over on my next trip to the UK, to work with a dealer there but I realize that is not realistic and not a efficient use of vacation time.
Most dealers in foreign coins I have met either have lots and lots of Lower grade coins and little or no high grade stuff or the other way around. Who can help me transition while giving advice and a fair shake?
I am going to FUN and may even go the the New York International Show.
Please recommend a dealer through a post or via PM (you or someone with whom you have worked) who would be willing to help.
THANKS!
Comments
Are you looking for help disposing of the “bulk”? Or building the new collection? Or perhaps both?
Most dealers & auctioneers cannot spend the proper time for you to maximize your return on the bulk. Either you sell it slowly on (for example) eBay, or you can bulk lot it and take your lumps.
It will be much easier for you to find help building a box of 20 type collection.
Part of your answer is to determine if any of the coins are "collector" grade/type/etc. or common bulk or melt. And how much is there. @jdmern (Justin) may be able to help. So can Karl Stephens and Allen Berman possibly Stephen Album. I believe all will be at FUN. Also check with any British dealer making the trip across the pond.
Good luck.
Life member #369 of the Royal Canadian Numismatic Association
Member of Canadian Association of Token Collectors
Collector of:
Canadian coins and pre-confederation tokens
Darkside proof/mint sets dated 1960
My Ebay
Take a good look at the tax laws for collectibles. You got a step-up in cost basis at your Dad's death so figure out what that might be. If you have capital gains, just sell for whatever you can get and take the capital loss to cut your tax liability and don't worry about 'fair' because that is a very subjective a term.
I will have to deal with Dad's collection of US silver that he pulled from circulation at some point. I'll probably just donate it to my local coin club. His proof sets might actually be worth something.
It almost sounds like you are trying to squeeze blood out of a turnip. Your description makes it sound like stuff no dealer is going to buy on a piece by piece basis, ie it's all bulk type material(poundage or melt). If you think you can eek a bit more out of it the labor is all on you as I know I wouldn't do the work for nothing. The less expensive the coin the higher the margins are going to be. I pretty much never buy an individual coin unless I can price it at $25 or higher.
Of course if my interpretation of your description is wrong just ignore what I said!
If your box of stuff is like most WWII era boxes of stuff I have seen you are wasting your time. Low grade stuff is likely to be bought by weight. Dealers are not going to pay much for it and certainly won't trade anything good for it.
The guy who's going to help you dispose of the bulk is probably not the same guy who's going to help you build your "Box of 20".
That said, a thought. Building a Box of 20 is probably not the best way to pass the hobby down to your heirs. It is, however, a nice way of making your collection easy to liquidate the moment you leave this world. Which I say not to shoot down any dreams (fantasies) you may have, but to suggest that maybe you're better off sitting on your dad's collection and leaving it to inspire (and educate) future generations.
Then again, I'm going in the completely opposite direction. I have no hope that my heirs will have any interest in my coins, and I'm eager to get rid of the bulk "junk". I figure I shouldn't leave that burden to them, especially because I can do the job far more efficiently.
So what should you do? I have no clue.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Do you have any sense on the overall value of the group that you are looking to sell?
Latin American Collection
I would think that one of the easiest way's to go about this, while still attempting to maximize your return, would be to bulk sell on eBay utilizing 1/2 or 1lb grab bags and a good marketing story.
It will probably be necessary to:
1st) Detach yourself from any emotional connection you may hold regarding those coins.
2nd) Reconcile with the fact that, regardless of the means employed to disburse this collection (eBay, dealer), you'll not likely achieve the return (net value) that you may believe it should be worth.
I, personally, prefer the fast removal of a Band-Aid.
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Most of what is there is low grade Victorian, Edward VII, and George V copper and silver but there is a lot of it.
Again, (contrary to what some people have written), I realize each piece holds a low value. I figure Most of the silver would sell at or near melt value. I am hoping the large quantity of the copper might inspire someone to be interested.
The value is a few thousand but how many I have not calculated .
I just printed out the dealer list for New York Intl. I intend to email the British ones to see if they would chat with me, figuring the “locals” might have more interest. Thought that would be my best option.
Hmm, Generally a good idea except if lower grade material I am not sure of the market for it. Mostly now people are looking for at least higher grade if not rare bits...
Well, just Love coins, period.
Good luck!!
Coin collecting interests: Latin America
Sports: NFL & NHL
Somebody warn those poor British Dealers of the approaching WAT! That's coin dealer talk for a customer that is a waste a time!
Darryl, Why do you insist on being so amazingly negative? Inquiring minds want to know!
I'm joking and being serious at the same time! You can easily determine if any of the coins you have are worth a dealer fooling with. THE NYI show is a very expensive show for the dealers to set up at. I would wager more than 1/2 the dealers you seek from across the pond wouldn't want the coins even if you gave them to them. Time is money! Why don't you show them to Steve Damron at the Atlanta show? He regularly travels to England and could quickly save you the hassle or embarrassment of dumping what very well could be a pile of swill in the eyes of dealers that spent a fortune to travel and do this show(if they are even able to due to Covid).
Well, I have given thought to that but still figured the highest demand for these coins (Whatever it is) would be in the UK.
I cant imagine an overseas dealer wanting to lug back on an airplane several lbs of bulk silver and copper. If melt is your goal for the silver, any dealer locally would probably make that happen with the appropriate spread. I would imagine realizing >96% of the melt price is a "good deal" if you can do that locally. Not sure on the copper really.
Latin American Collection
I agree with you, Brian, on the silver . It is the copper that is the biggest quandary.
You asked for advise. People are giving you advise. And you are pushing back and suggesting you knew all along what to do.
Come on. Why are you wasting our time (potentially along with all the dealers time you are soon to be wasting)?
Dealers need to make a living too. And it’s nearly impossible to earn enough hauling slick Victoria coppers and circulated thropnies (I’m guessing here) through airports to make the effort worthwhile.
I set up and sell at the show in Mexico City. And I’m not a professional dealer (meaning I have another source of income). I can tell you first hand, that I wouldn’t bother hauling such coins for so little potential profit.
I did ask for Advice and some people have Advised me. I don’t think I pushed back negatively except for Darryl who was cuttingly sarcastic. We had dialogue. Several people responded or PMed nicely with Advice. They Advised me and I am appreciative.
Don’t know where this needless negativity comes from.
You won't find a dealer willing to take bulk low grade coins back to the UK unless you can specifically identify those with good value and then they would want to cherry pick (and still have to make a margin). The dealers that attend international shows never list low grade common things, so would have no reason to buy in the first place.
We have a huge supply of low grade coppers here already. I'm asked on a regular basis to buy grandad's 'collection', which is usually a euphemism for a selection of low grade coins acquired from circulation. The date maybe legible on some Victorian pennies, maybe not. 20th century material - it's typically higher grade than Victorian, but everywhere. You pay a few pounds per kilo and hope that one day you will find something decent. Having said that, I turn down more offers to buy this material than I take up.
Ebay is not so bad as an outlet, as a coin worth a dollar can be sold for 4 or 5 - if you have the time and inclination to do this.
Yikes, if you thought that was sarcastic I'd hate to know how I would make you feel when I actually try to be sarcastic. I think you actually might have meant Darryl, who I thought was frankly on the money even if there was some sarcasm in play.
Latin American Collection
Yes, Brian . I apologize. I did mean Darryl.
Sorry for the mixup! I have edited my comment.
I figured you understood me by now. You will find I am a straight shooter. I just realize you are sensitive and tried to do it word it where you wouldn't take offense...as you obviously have.
Yes , I may be sensitive.
Darryl, I must break it to you. You are not a “straight shooter”. You are callous.
There. We have both told our version of the truth.
If it were me, I'd keep a small sampling of the coins he brought back with him and sell the rest yourself- maybe the BST?
Maybe your box of 20 could be better examples of the coins your dad had collected. Still a WW2 set but a nicer version.
" ......better off sitting on your dad's collection and leaving it to inspire (and educate) future generations......"
I think this is the BEST advice!
Give it to your children or grandchildren...maybe educate them as well.
I give away money. I collect money.
I don’t love money . I do love the Lord God.