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When the time comes to move on from the coin hobby....

HallcoHallco Posts: 3,673 ✭✭✭✭✭

I'm wondering if there is an ettiquite to reach out to dealers to give first right of refusal with coins one has acquired from them when a collector chooses to sell. Or in this day and age with so many options, does it even matter? The question is asked from a standpoint of "nice quality" pieces, but not ultra rare or excessively expensive. Let's say none exceed $2000. Thank you for your input.

Comments

  • No HeadlightsNo Headlights Posts: 2,102 ✭✭✭✭✭

    Why not contact a dealer about a coin you want to sell that they obviously thought enough of to purchase before?
    Good luck.

  • Cougar1978Cougar1978 Posts: 8,765 ✭✭✭✭✭
    edited April 11, 2025 6:22PM
    1. Depending on the size of your investment you might consider taking a table at a local show or open up an eBay store. This opens up the retail arena.

    2. If you have some auction sale experience then you probably know how much vs bid you can get via that route. The above (1) you have control.

    Have you tried shop anything around a show? What pct vs bid were you able to get?

    As far as offering material to somebody you bought from / your the owner - there is no rule it’s your play call. A friend offered a coin to a dealer he got it from couple years back. Dealer declined offer “we are phasing those out.”

    Investor
  • bronco2078bronco2078 Posts: 10,425 ✭✭✭✭✭

    @Cougar1978 said:
    Depending on the size of your investment you might consider taking a table at a local show or open up an eBay store.

    This is good advice . Open an ebay store now and dip your toe in the water . Start unwinding the collection a bit to get a feel for the process

  • 291fifth291fifth Posts: 24,680 ✭✭✭✭✭

    Make whatever moves will maximize YOUR return.

    All glory is fleeting.
  • skier07skier07 Posts: 4,352 ✭✭✭✭✭

    I would try selling a few coins now and see how it goes. I would try contacting a dealer who you bought some coins from and consign a few with one of the big auction houses. The problem with selling a coin to a dealer is unless they remember the coin you probably won’t get an offer on the telephone and you lose control of the coin once it’s out of your hand. Listing a few coins on the BST with realistic prices is easy and free.

  • winestevenwinesteven Posts: 4,919 ✭✭✭✭✭

    @DisneyFan said:

    @winesteven said:
    I plan to sell my entire collection in about five years, when I turn 80 (if I “make it” to that age, G-d willing).

    "A day without fine wine and working on your coin collection is like a day without sunshine!!!"

    Most likely when you turn 80, you will postpone selling your collection until you are 85. You are having too much fun.

    That’s always possible, but I’d be surprised if I change my mind. Thanks though for your comment. Yes, I’m having a LOT of fun, and deriving a ton of pleasure from our wonderful hobby!

    Steve

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
    https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
  • Project NumismaticsProject Numismatics Posts: 1,698 ✭✭✭✭✭

    You’ll find out real fast which dealers stand behind their inventory.

    I had one fairly prominent dealer last year refuse to make an offer on a coin he sold me a few prior. Have never bought anything from him again.

    There are other dealers who really stand behind their inventory with unofficial buy back policies (adjusted for current market value of course). Reward them by doing more business with them!

  • UncleJoeUncleJoe Posts: 2,551 ✭✭✭

    You can certainly offer your coins to dealers you purchased from but you are not obligated to do that unless you previously agreed to do that.

    I think I look at things a little different than some of the other posts. I have no need to maximize the amount I receive nor am I interested in doing the work involved in setting up a table at a show or dealing with eBay. If that sort of thing interests you, then by all means do it. However, I just send my coins to the auction house that would be best for the particular coins. Even though I don’t worry about maximum return, I am always pleasantly surprised by the overall net results.

    Joe.

  • TwobitcollectorTwobitcollector Posts: 3,900 ✭✭✭✭✭
    edited April 11, 2025 4:29AM

    I'm in the same boat.
    I'll be 81 next month.
    So far I've given my children the best ones to them.
    I just placed a lot of mine in 2 different auction houses.
    My favorites I'll keep.
    Then some I'll post on the BST.
    PS I did offer some back to one the "big time dealers" that I had purchased from him, and was turned down.
    He does display in the ad that he does buy back coins that he sells.

    Positive BST Transactions with:
    INYNWHWeTrust-TexasNationals,ajaan,blu62vette
    coinJP, Outhaul ,illini420,MICHAELDIXON, Fade to Black,epcjimi1,19Lyds,SNMAN,JerseyJoe, bigjpst, DMWJR , lordmarcovan, Weiss,Mfriday4962,UtahCoin,Downtown1974,pitboss,RichieURich,Bullsitter,JDsCoins,toyz4geo,jshaulis, mustanggt, SNMAN, MWallace, ms71, lordmarcovan
  • Coin FinderCoin Finder Posts: 7,396 ✭✭✭✭✭
    edited April 11, 2025 7:12AM

    Good question, sell to whomever you want. I'm getting out slowly becasue I don't like what the hobby is becoming... It not fun anymore. The proliferation of mis information and fake slabs and coins is part of it.

    Offer your coins here! Lots of good, honest and knowledgeable buyers on these boards.

  • Russell12Russell12 Posts: 405 ✭✭✭✭✭

    I've been collecting since I was a kid (1970's), all in Whitman albums, mostly full. I have transitions to collecting PCGS slabbed coins and wonder about selling my album collection. Do people even collect that way anymore?

  • NorthStarNorthStar Posts: 87 ✭✭✭

    It's always an interesting discussion when we come face to face with our own mortality (collection). I like the approach @winesteven has embraced. I've just modified the age (younger)! Nothing I own would be considered a great numismatic treasure, but they are personal mementos to dealers and friends no longer with us. I have started to unwind my raw world coin collection and have seriously considered departing with a bunch of modern bullion products.

  • ElcontadorElcontador Posts: 7,680 ✭✭✭✭✭

    @winesteven said:
    I plan to sell my entire collection in about five years, when I turn 80 (if I “make it” to that age, G-d willing). One portion of my collection, my high grade Indian Head Cents and Flying Eagle Cents, all double stickered by CAC and @EagleEye ‘s Photo Seals, will be consigned to Rick Snow. He helped me tremendously in putting these sets together, along with giving me a tremendous education with these two series. This decision is despite the fact that the majority of the coins in these sets I did not buy from him! The majority were bought by me via auction, and several from other dealers, yet he gave me his unbiased opinion on virtually every coin I purchased!

    By the way, one may ask, “Isn’t it redundant having both a CAC sticker and an Eagle Eye Photo Seal on a coin?” Not really. I learned that John Albanese and Rick Snow each weigh various factors differently from each other, so there are some CAC’d coins that Rick will not sticker, and some Photo Sealed coins that JA will not sticker! As such, I believe having both stickers on each of those coins is having the best of both worlds!

    JA and Rick have tremendous respect for each other. My understanding is that CAC in NJ will remove virtually all other stickers on a coin that they sticker, except for Rick’s Photo Seal if it’s there first!

    Separately, if I pass before I reach 80, I left detailed written instructions for my wife and adult children to follow to dispose of my collection, and that includes what I said above.

    Steve

    Steve, there's a fine point here. You're right re different standards re Rick Snow and JA. You can say the same thing re PCGS and NGC. I think it depends. Personally, with a Flyer or IHC, I prefer the Eagle Eye sticker over the CAC sticker. This is what Rick Snow has done for over a generation. It's a bit more intangible, but when it comes to old copper, I'd value Tom Reynolds' opinion on a coin over anyone else's. Just my two cents.

    "Vou invadir o Nordeste,
    "Seu cabra da peste,
    "Sou Mangueira......."

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