Advice on selling a collection/hoard

clevegreg

Thought I would run this past some of you who have had this experience in the past. being the "coin guy" in a family has its good moments and its bad moments Well I am in one of the kinda bad moments LOL. A close friend of my Mom passed recently, and his spouse asked my Mom if she knew anyone who was into coins etc. Well my Mom replied "well sure, my Son loves coins!!" and so here we are.

After taking my initial look at what they had, I thought "why don't we just wholesale this to a dealer". Well that went over like a lead balloon. "Why don't you sell it on eBay", my Mom asked. "you have gotten some good deals on there in the past"...me and my big mouth.

So what I have is a whole bunch of stuff that is now my responsibility to sell. It includes 54 Whitman folders of coins, from Barbers to Kennedys and just about everything in between. Wheat Cents, Indian heads, Buffalo Nickels, Walking Liberty Halves, Ike Dollars, you just about name it. Looking through the albums, I notice that in alot of the series, good old Don never really cared about using the hole with the date marked to put the correct dated coin in. Some of the albums are filled properly, some. like the Barber Halves and Quarters and SLQs and Barber Dimes...you get the idea...he put the coins that he had the date of in the right slot, but as he accumulated more he just kinda used the empy slots. Then there is the matter of the bag of wheat pennies, and the big jar filled with Walkers etc.

Question for you is, do I take some pictures of the coins and albums and sell it under "collections" on ebay as is? I know I dont want to take the weeks to pull the coins out of albums, jars and bags and put them into 2X2s or complete a audit by date.

I never thought I would hate the sight of old coins, but friends I am almost there Wheeew..I feel a little better.

The moral of this story is two fold. Be careful who you tell about your coin collecting..LOL.. and make sure your collection is in good condition in case something happens to you!!

Greg

FC57Coins

I guess my first reaction to something like this would be to figure out if the coins were average circulated, or whether they were in better than average condition first of all, then see if there were any key dates in the lots. After that's established then you could make your plan B decision.

Frank

Endocrinologist

If you want to maximize the amount of money that you get on the coins, you will have to do some work. If you have the time, I suggest that you auction the stuff slowly over time. Start with a series and move on. For example, auction off the Ikes in a set of auctions, then Kennedies, then Buff Nickels, the Lincolns etc. You make more money if the auctions are a nice collection of coins that make sense rather than a bunch of coins thrown together.

I assume that you will be receiving some sort of seller's commission on this?

Endo

ldhair

It's a chance to have a great time. There is a rair coin in the middle of it. Go find it.

lathmach

You're just gonna dump the stuff for a quick buck without searching it?
Hard to believe.
Who knows what may be in it? May be any of a number of rare varieties.
1918/7-D Buffalo, 1917 doubled die Lincoln, or more likely a 1944 D/S Lincoln.
Maybe you have a chance to learn a little about coins here.

Ray

cdwegner

I can just hear the dealer now, "There's not really of much value here. I'll give you $100 for all of it."

Hunting through other people's coins is a blast. I'd take my time and auction it via ebay. (if you do, tell us...)

c

1jester

The good doctor (Endo) brings up a very excellent and valid point about a commission. It's not that you will be appearing to be greedy, but I think you can approach the situation with the friends of the family in this way: thank them for thinking of you as an expert, and explain to them that any professional in the field would ask for a (very hefty) commission for such a job that might involve hundreds of hours (to do it right). Ask them what they want of you---to sell everything in a bunch, and they will not get much money for it (and will miss all those very valuable coins in the collection), or take much more time to do the job correctly. You can explain what the benefits and risks to each approach are, and ask them what they prefer. I think they will want you to do the job right (with much time involved), and I bet you anything that they will offer you a good cut in the profits (or to cherry pick the collection).

Good luck.

TWQG

The thought of sifting thru all that stuff sounds like fun! Am I crazy?

coindaughter

I'm in a similar situation and asked the same question recently. Here is the thread.

These words of wisdom might help you get some ideas.

clevegreg

Thanks for your thoughts and ideas. Oh trust me..I have looked through just about all of the coins There are a few key dates, but most of it is just nice circulated stuff. Regarding the offer of a commission, well since it is a friend of the fanily there really isn't one except I can buy anything I want for wholesale. I have most of this stuff already,(not in this quantity) and I think it would be unethical to cherry pick everything nice out. Perhaps I am crazy but thats just me.

Perhaps I will just take a shot at putting it up on eBay, as is, under collections. From looking, some of that stuff gets pretty good bids. Shipping will be fun though, this stuff must weigh 60 or 70 lbs.

Bear

Clevegreg - Its nice to hear an honorable young men in action. Good luck with your efforts on behalf of a friend. The knowledge you will gain thru this experience, will be your most valuable reward. Bear