How to price PCGS slabs
moursund
Posts: 3,207 ✭✭✭✭✭
I'm thinking of selling ~30 pcgs mercs, either at a LCS or here on BST.
What's my best bet to get reasonable price? List them on BST or highest offer?
What do LCS typically use to figure out what to pay for pcgs slabbed coins?
I'm not yet accepting offers, and if I do, it will be through BST board (and of course I'll post pictures), but for discussion purposes (for how to price coins), this is the set:
1917 s ms64fb
1919 ms64fb
1920 ms64fb
1926 ms64fb
1929 d ms64fb
1930 ms64fb
1931 ms64
1934 ms64fb
1935 ms66fb
1936 ms65fb
1937 s ms66fb
1937 ms65fb
1938 s ms65fb
1939 d ms66fb
1940 d ms66fb
1940 s ms66
1940 ms66fb
1941 d ms66
1941 s ms67
1941 ms64fb
1942 d ms66fb
1942 ms62fb
1943 d ms66fb
1943 s ms64fb
1943 ms66
1944 d ms66fb
1944 s ms65fb
1944 au58
1945 d ms66
1945 s ms66
1945 ms66
. Transactions with WilliamF, Relaxn, LukeMarshal, jclovescoins, braddick, JWP, Weather11am, Fairlaneman, Dscoins, lordmarcovan, Collectorcoins, SurfinxHI, JimW. God so loved the world that he gave his only begotten son, that who so believeth in him should not perish but have everlasting life.
Comments
I'd compare pcgs price guide to buy it now prices on ebay.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
I use recent closed auctions to set the floor and ebay sold listings as the retail. For what you have those two prices may not be all that different, figure a LCS is likely to use graysheet +/- depending on if they want that inventory. Set your expectations from there and decide which is the best option to choose for your sale.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Good idea...
These were all slabbed > 20 years ago, so there are no "+" grades.
They also have not been resubmitted for upgrades in at least 20 years.
Does this vintage tend to bring a premium?
Based on the frenzied bidding lately on GC, these might do well there.
Agreed. I sent a few coins to GC to avoid the hassle of dealing with EBay or something else, it just takes a lot of time out of it. GC also offers free appraisals on their website too, that would be a good idea of value.
Coin Photographer.
I would consider regrading the ones that have a big jump in price at the next higher grade.
I have acquired #2, 2016-Shawnee quarters with no edging, too many to have been all altered… I have seen several on-line? Has anybody else found any???
Huh. Hadn't considered that. I just looked up PCGS price guide values, and the set totals just under 4k by that guide. Some indeed do have a large jump at the next grade, and I suspect that the ms64fb coins would be attractive for the new MS everyman registry sets.
Does GC deal with relatively "small" consignments like this, and do they also send promising coins to CAC?
@moursund Yes they do handle smaller consignments, mine was 6 coins, so much smaller than yours would be. My coins just got to their facility and have not yet been listed, so I’m not sure how the return on the coins will be. They seem to be more collector friendly with smaller consignments with lower fees and whatnot than the other auction houses IMO. However, they do seem to bring slightly lower prices due to buyers fees.
They also do send promising coins to CAC, there was a thread on this rather recently, I think it was titled sending coins to auction and CAC.
Coin Photographer.
@moursund - On the GC consignment form, you can either choose which coins for GC to submit to CAC or you can let GC choose for you. GC will take any size consignment in my experience, but you can email them directly to confirm if you wish. Typically they respond to emails within one day or less - often @ianrussell will respond personally!
Asking for offers is a great way to get flooded with lowball offers and to turn off more reasonable folks.
In honor of the memory of Cpl. Michael E. Thompson
GC runs a solid operation in my experience. Honest, and great cust. service. The competition is strong for coins in those auctions.
I just use PCGS CU Price Guide or Cost+
I have bid on some coins at Great Collections, and was surprised at how high some of the bids went. I would probably give them a try when I decide to liquidate some coins.
Its pretty easy to check ebay sold prices. I would start there.
If you're not wanting to sell on Great Collections, you can use their past sales auction archive to see what the real world has been paying of late on any like graded Mercs they have sold and price yours accordingly. I can't recall if you must register or not but registering is free and required if you want to sell there anyway.
WS
As long as you don't need the funds immediately and If you believe there is a good chance that many of your coins will sticker, DEFINITELY send a $4,000 shipment to GCs. And ask for their advice. They do all the work. Remember some coins will be stolen and others will receive "to the Moon" prices. What counts is your total net proceeds. Let us know how it turns out for you. : )
You guys have convinced me... I now have an intention (which may turn into a plan, and perhaps into a commitment
) to send my slabs to GC. Besides the mercs, I have a couple of low MS Morgans, and a few misc. other slabs.
I'm trying to turn my collection into a collection, rather than an accumulation. These slabs are the easy part. Not sure what to do with a handful of mint and proof sets, dupes of common Barbers, etc.
Thanks, all!
I should ask another Q: I suppose I must deal with 1099 or whatever from the sale? I bought these coins 20+ years ago, and seem to have no records of what I paid. Now I feel the pain of all of the eBay complainers..
Littleton and our own amwldcoin come to mind.
I've sold many collections over the years at auction. Whether you get a 1099 or not, just put together a honest estimation of your cost basis. Hopefully, you'll show a profit and then happily pay the tax.
The last time I had full documentation for a loss and no issues with the IRS. Sold too soon! : )
Even without a 1099, you still have to deal with any profits from the sale, you know.
right... so for a long time, I've never sold. Thought I'd eventually die, and avoid the tax issue.
So how do you estimate a basis?
How would I do it? I'd use my records of what I paid, either receipts from purchases or my written notes.
Your cost basis is just what you paid for it. So look at about when you acquired the coins and about what you think you would have paid. It’s an estimate if you don’t have records, but you know yourself and how you buy. If you’re a retail guy, go with that. If you’re a “back of bid” guy, go with that.
Makes sense. Yeah, I can estimate about what I would have paid for these 20 years ago... I have no more trouble than the next guy paying fair taxes. But 28% fed, and 9% state (Oregon) is pretty steep! Especially since you pay not only for the actual gains, but also for inflation... you don't get to adjust your basis into today's dollars, do you?
In the oncoming inflationary environment ~ I'd price 'em to sell.
Are your Mercs generally white, or are they nicely toned?
I've noticed attractively toned Mercs do very well on GC. White examples, well ... not so much.
Dave
Interesting situation.... While I have no plans to sell my coins, I would like to see how this works out. Please let us know your plans and results. Cheers, RickO