If you were selling
1630Boston
Posts: 13,922 ✭✭✭✭✭
If you were selling your modest collection [basically a US Type set and a few colonial coins] of 50 PCGS certified coins valued at perhaps $50,000 total, to help pay college tuition, would you:
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
If you were selling
This is a public poll: others will see what you voted for.
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BST first then GC
I would make sure that the lots had a reserve or started at 75% of value.
If I had to sell... BST/Instagram then GC
If I didn't really have to sell but it just made life easier then I might keep the best pieces that are nearly impossible to replace later and then sell the rest.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Since I am not a dealer, and have sold few coins, I would opt for Great Collections. They have received very good reviews here. Cheers, RickO
I can’t bear to sell some of my coins, to much sentimental value
. If you need to, GC is the best.
Type collector, mainly into Seated. -formerly Ownerofawheatiehorde. Good BST transactions with: mirabela, OKCC, MICHAELDIXON, Gerard
What @keyman64 said minus IG.
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
Any coins with CAC or high potential for CAC, send to GC. Any details coins or coins <$200, eBay fixed price. BST is unlikely to maximize value in my experience - not enough eyeballs. Local dealer is quickest but it will depend on their specialty as to whether they are a good choice.
I would consign them to a dealer, as that will probably get you the highest % return with a minimum of work. It sounds like you don't need the money immediately, which is good for the consignment route. The value of the coins ($1,000 on average, though I understand there will be a distribution) is high enough to not be a nuisance to the dealer.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
I'm in a similar predicament, just can't sell my coins! I would try BST and other fee-less venues first, then GC.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
If you know what your coins are worth, I suggest that you try the BST first. It's FREE and if any coins don't sell then you can try another venue such as GC or eBay that is NOT free. Also, if you don't need the money right away and you use the BST, consider selling a few at a time over a few weeks since most coin collectors are on a budget and they pace their purchases over a period of time.
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
I would absolutely agree with @cameonut2011
BST then on to GC. I've got two beautiful Granddaughters starting college this year, so I understand your needs. One at UT Knoxville and one at WVU Medical School Morgantown.
Best of luck.
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
I worked to pay for my tuition back in the day. Nine years of night school and I finished with three degrees. That teaches a solid life lesson and builds a solid work ethic. Thankfully I have no kids so the "issue" never came up.
Depends on how much time you want to put into it and how much headache you want to deal with. Personally I'd send all to GC and be done with it as my time is spent better elsewhere these days. 10 years ago I'd try myself on BST and/or ebay.
Also depends on timeframe for needing the money.
Trusted dealers are not getting a lot of Love so far. My Estate has been told to call a trusted dealer but lean towards GC with the slabbed coins.
go join the military, they will hook you up with college and you get to go out and umm see people, villages and the sorts to. have a nice day
Wait a minute, did you say MODEST collection at perhaps $50,000????? Thanks a lot!! You just hit me right between the eyes with an unwanted reality check on my ENTIRE collection. 😭 😫
Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )
It's a hypothetical collection
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
I think a blend of platforms is likely best. Anything >$1k would try on BST first then GC. Anything slabbed <$1k would be BST first then eBay. Anything raw BST first then trusted dealer.
I've sold a number of completed sets and duplicates through GC. I like things to keep simple as long as I can get a fair price, which GC hits on both counts. All were slabbed US Federal and many had been to CAC. Not sure GC is the best solution outside of slabbed US Federal coins. I believe I might sell my colonials and world elsewhere, after giving GC a test run. Raw (medals in my case) would go to eBay, although the heirs have been told to use HA or SB unless they want to try eBay. I sold almost my entire Lincolniana collection, consisting largely of medals, on eBay years ago and it was an adventure.
What a Beautiful hypothetical set, dude.
Whatever you decide, don't rush it!
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Sell half to trusted dealer.
Depends on your willingness to invest time and energy into the process. I would maybe spend a month or two trying to list the nicer material on BST, Facebook, or eBay in an attempt to get close to retail value. After that time period after you've sold what you can, ship the rest to GC or wholesale to a dealer and be done with it. Personally, I prefer Facebook to the BST or eBay. On Facebook ill price coins about 10% less than they're worth in a full retail environment, but payment is immediate, there is no buyers premium or transaction cost, and there's more eyes than there are on the BST here.
Here's an recent anecdotal example to put my view into context.
A couple months ago, I saw a better date $20 lib in 64cac on GC (pretty nice coin) that had a high bid close what the current CDN bid was at, and felt that it was underpriced so I decided to buy it as a flip. I spent $5150, so the seller of that coin netted $4,635, which is probably around what I would net if I were to send it back there. I tried to wholesale it to a respected dealer who wanted to pay about what I paid for the coin, so I wasn't about to settle for a $0 profit just yet, it was too early. Listed it on Facebook for $5650, and I got an offer from someone for $5250. Even though I would have made a lousy $100, I decided to try the Ebay route because I felt the coin was worth more. Listed it on eBay for $5,999 (I would net about 5,600 after fees), with multiple sets of nice photos (Including the Hi-res TV's), AND a video of the coin. It sat for about a month and I received some lowball offers, and finally last week someone bought it at the listed price. Buyer received the coin yesterday and immediately initiated a return. "Bought by mistake" with a note of "too many scratches on the back" 🙄🤬. I will likely put it back on Facebook with a price drop to $5500.
TLDR: Sometimes its not worth the aggravation of trying to sell retail. If you value your time, and sanity, you might be better off with some of the aforementioned methods. Looking back, I probably should have just sold it to the Dealer who made the offer or made a deal with the other guy on Facebook .
Founder- Peak Rarities
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I voted auction, but if you have a nice $20 gold or something on those lines, it might be worth keeping.
It's most likely the one in my dreams! 😂 🤣
Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )
I'd pay at least as much attention to the value of the college education as I would to the value of my coins.
It's all a matter of degree.
My Adolph A. Weinman signature
Maybe sell the common dates?
I'd definitely keep the rare, irreplaceable stuff.
With today's economy and inflation, even the common stuff can really go up in value.
Just my 2 cents....
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Just give the coins to your kid, $50,000 is worth more than a college education these days...
Wisdom has been chasing you but, you've always been faster
True. But, a college education costs a lot more, unfortunately.
And, in some vocational fields, it is a necessary evil.
Have them start as interns and then let the company pay for it.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Totally agree! Can't wait until a 20 year old with a great coin collection is performing surgery!
Several viable options there but I picked Other... a variant on the "sell to a dealer" option...you could work out a consignment deal at, say, 10% with a quality dealer where they could showcase your items in their shop and/or website and skip the hassle of dealing with listings and returns selling online yourself...
RIP Mom- 1932-2012
I have never sold a coin so I would rely on a trusted auction site like GC.
Wayne
Kennedys are my quest...
For circulated coins $500 and under, Ebay works great. The difference between GC and Ebay is neglible at this price point IMO and Ebay is fast and you get paid right away.
For GC, I generally send my higher priced AU and Unc. coins in the $500+ range.
Have to vote other as some items, priced right, will move on the BST really fast and pain free.
Some items need the exposure of an Auction venue, be it eBay (this can be a hassle), or the likes of GC, HA or Stacks (these are not usually a hassle).
And some items do well with specialty dealers, and most of them like to have fresh, quality stock ... so a consignment or outright sale can be beneficial there.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
Assuming you’re selling to help the kids. I had seven friend’s fail out and their parents paid full boat. My parents paid one semester and told me to figure it out, which I did. Best thing they could have done for me.
I just tidied up my collection and sent 18 coins to GC. Auction closed Sunday, and I’m very pleased- made a little on most coins, lost a little on a few, so I was happy with the results and the overall easy, quick and painless process.
I’m usually quite anti-debt but…I’m assuming this is the start of college, so here’s my thinking: I don’t know what degree the person is going to get, if they’ll finish, or how long it will take them. There are some (several?) degree paths where your employer will pay off your loans. Also, the loans can be interest-free until after graduation or even longer (sometimes).
I’d keep my options open if I liked my collection. Loans can provide that opportunity. If you have coins you’re not in love with, then send them off to GC and put that money toward whatever makes sense.
I’d hate to sell my collection just to have my kid move home and go to the directional school in town after one Ivy League year (I wouldn’t expect it, but it’s a possibility).
Good luck!
Yeah. No one ever said retail was easy. But a lot of it is timing... and purchase price, of course.
...or walk them around at a major (or at least regional) coin show (surprised no one suggested this). If you know what you want and what a fair price is, walk them around at a coin show and see how many you can sell to dealers. In 2015 I did this in St. Louis when I was getting rid of near all of the coins I had at the time (in anticipation of a move) and I ended up with cash/checks probably 10% above I was expecting from a few hours of work. Sold to probably 10 different people. The market is even stronger now, so if you are reasonable, this approach should work well.
Sometimes people need an auction to teach them what a coin is worth. I was cleaning out my PM's a few days ago and ran across an exchange I had with someone on the BST a few years ago. They were asking $2600 for a coin, I offered $2300 and they declined. They then shipped off to a GC auction that netted them under $2000 (I did not bid, as I had other things I was looking at when it was offered). This happens MANY times. It just depends on how well you know the market and whether you will accept a reasonable price. Sometimes auctions do very well, but other times you take a haircut plus the 10% fee on top of the haircut.
GC
Mike
My Indians
Danco Set
This. Though whether or not I went with GC or Heritage as the auction venue depends on the material.
I confess I had to chortle a bit at $50K being a "modest" collection. Perhaps only on these forums!
I was feeling like a big boy now that I've finally reached that benchmark (after 46 years). But $50K is more than a year's salary for me, whereas I guess it's beer money to some folks.
It's (a lot) more modest than it was most of the time I have been collecting, off and on since 1975. Sounds ridiculous, but so many coins are so much more expensive and it's not just high(est) grade US either. I'd consider an additional side collection or two but not interested in sinking what's likely to be at least low four figures for coins I don't want that badly.
Sell them on BST to trusted members. Any that don't sell, send them to auction. Each graduating student should be taught one lesson in particular, stay away from debt.
"A dog breaks your heart only one time and that is when they pass on". Unknown
I would (and have) buy a table at a few local shows. Price to sell but still make a profit and take it to the bank.
And sell the other half to an untrusted dealer?
peacockcoins
I think it depends upon how soon you need the money and how much "return" you need to see on your assets. If you need cash right away to put deposits down for Fall Semester, maybe GC would be the way to go because it's the least hassle and the fastest way to a check. If you don't need money right away, I'd try the BST first... not as many eyes as ebay but it's been far less of a hassle and there are no fees.
I had to sell at one point back in 2012. I did the BST route first and got most of the good stuff sold within 2 to 3 weeks. The rest I put up as lots on ebay. Overall, it was mostly a "push". I wound up making a few hundred dollars on a "meager" collection.
If I had it to do over again, I'd have kept 2-3 nice pieces...
Best of Luck in whatever you decide! ... and I guess I aspire to a modest collection ;-)
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
Depends on the time horizon.
I would try reaching out to any dealer friends you may have. Then try the bst here and the left overs
send to Heritage. This is exactly what I did last year and faired very well..
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CoinsAreFun Toned Silver Eagle Proof Album
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Gallery Mint Museum, Ron Landis& Joe Rust, The beginnings of the Golden Dollar
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More CoinsAreFun Pictorials NGC
I can't resist adding that today's collectors are fortunate that they have a number of good choices if they want to liquidate their collection. In the "good old days", pre-slabs, pre-eBay and given a modest collection, one would have had little choice but to trust a dealer, probably a local one.
I would first try to sell some directly to collectors. This is the most work, and they won't all sell that way, but you will probably net the most. You'll need great photos. BST here (and other places) would be a good start. Then, eBay, or similar. After that, maybe consign the rest with a trusted dealer or send the lot to GC.
In general, the less work your option requires, the less you will net. My past experience has been that I'm sometimes disappointed by auction results, especially when you see the difference between what the seller pays and what you (eventually) get. I've had pretty good luck consigning with dealers, but it takes a good relationship, good communication, and some patience.
Would you go take out a loan right now to buy coins? If you wouldn't, keeping the coins and borrowing money for school is the same thing.
P.S. Don't do that! Debt is 5 times harder to get rid of than you think.