How would you sell your collection?

shirohniichan

If you ever decided to get out of collecting and didn't want to leave your multi-thousand dollar collection to someone else, how would you sell it?

Would you send them all to a dealer you trust and say, "Make me an offer"?

Would you send them to an auction house (if so, which one)?

Would you try to sell them on eBay?

Some other way?

CarlWohlforth

I'd sell mine on eBay.

tjkillian

Yes, eBay would be the way to go. I'd only go for the large auction houses if I had a lot of rare and valuable coins. EBay cuts out the middlemen.

Tom

BigD5

I sold a bunch of my collection privately, and through Ebay. If I had a collection, of the caliber consistent with the Pennsylvania collection of Buffalo nickels that Bowers just auctioned off, I'd do the same. Right to an auction house, and probably Bowers with that type of collection. I can't stand Superior so they're out, same with Stacks. I'd send Heritage more of my generic kind of stuff. I think Bowers does a better job with descriptions of each individual lot. My opinion though.

*When I say "generic", I mean more of a scattered assortment of different type coins, that aren't "top pop" or anything like that. Maybe common ms/65 seated dimes or similar coins.

flaminio

One by one, on eBay.

dpoole

That's a good question, Shiroh.

I agree Ebay is the right forum for the run of the mill stuff in one's collection. I think it's riskier for the more quality pieces, though. Rella had a whole group of high-end Lincolns on Ebay recently, with no bids close to reserve on any of 'em. Compare that with the madness at last night's Heritage auction. Apparently, the guys with the deep pockets go to venues other than Ebay to get their coins. Smart guys like Bill Walser took his around, and struck a deal with David Lawrence.

I'd be interested in hearing what other people have to say.

LucyBop

I'm keeping mine, all of em....

coindaughter

When I posed this question to all of you on my first post here, the majority said Ebay, and that is what I am doing. It is veerrrrry slow going for us, though.

Placid

The big dollar coins a major auction like the Heritage Fun.
Mid to low priced stuff eBay.

SarasotaFrank

o'm selling one of my franklin sets - you buying lucy?

agfox

You'll have to ask my wife.. I plan on being dead when my collection is dispursed

Blade

I'm thinking about holding a lottery among board members to dispose of my collection. Best lottery picks start at the beginning of the collection... 1 slab each, until they are gone. That would certainly be fun and interesting.

BigD5

Coindaughter, you bring up a good point. There are many......many people who have absolutely no interest in taking the time of selling their collections themselves. Dealers and auction houses make it easy for them. Quick sale. Probably not the way to realize the most money, but that's not what matters to everyone. With a little effort, you will probably realize the most money for your collection. I'm sorry to say I don't remember what your specific collection consisted of though.
dpoole makes a good point also. If the collection consists of higher priced items ie $2k+, those coins will do better in a forum such as FUN.
I like Placid's take on the situation.

merz2

Shiro
With mine it would be a combination of all the above,plus selling direct to members of this board.

sinin1

I would down-size rather than sell all at once - and probably keep the best until I died.

I disagree with the comments about eBay cutting out the middleman -> in my opinion it just changes the middleman to eBay, PAYPAL, and USPS (or your other shipping choice).

It has big advantages on how quick you can get payments, but disadvantages for the elite coins.

nwcs

I would want to have a bit of fun. I'd set up at a coin show with my collection and see what happens. Of course, the worst part would be paying taxes.

09sVDB

Thru a dealer I trusted, either outright or at auction.

shirohniichan

I would want to have a bit of fun. I'd set up at a coin show with my collection and see what happens. Of course, the worst part would be paying taxes.

No, the worst part is dealing with the jerks who think you should pay them to take your coins.

Jerk: "This 1903-O Morgan you got here is too expensive. My Blue Sheet says it should only be about $275."
You: "First of all, it's a PCGS MS-65 PL. Second, the Blue Sheet is a wholesale guide for sight-unseen trading. This is retail, site-seen trading."
Jerk: "So are you going to take my offer or not?"
You: "At $275 I'll pass."
Jerk: "Who said $275?! I only pay half of Blue Sheet, so my offer is $125."

I was going to wait a while before giving my evaluation of the different means to sell one's collection, but I could resist chiming in. Sorry.

coppercoins

Because of my specialty and because all of my coins of value are attributed die varieties, eBay or some other specialty venue would be the only sane way of dispersing my collection. Take it to a dealer and they are likely to give a few cents per coin, even the OMMs and doubled dies that are worth in excess of $100 per coin. Most dealers don't know there are thousands of different die varieties to be had, and none of them I have ever met would be interested in paying even half of the going retail value for any of them.

However, through CONECA auctions, Error World auctions, NCADD auctions, and eBay, there remains plenty of places to sell the coins for what they really are, and to achieve at least close to their retial value, if not over their retail value. My wife is aware of this much regarding coins, and understands who to go to in the case I should come to an early demise.

Additionally, I have charged a couple of collectors of these sort of things with the job of sorting and managing the sale of such pieces at a commission, because I know my wife will not want to go through the long process of dealing with the aforesaid method of sale. The other guys I have charged with the duty of dispersing thecollection know very well what it entails and are willing to go through the process for their cut of the pie for their trouble.

At any rate, I have given this much more forethought than some other people I know who either died or became medically incapacitated and left their unknowledged spouses with piles of coins that to others would seem to be normal coins...one such spouse rolled them up and took them to the bank - roll after roll of BU wheat cents dating back into the 1940s, and tube after tube of doubled die proof cents and the like. She had no idea what to do with them, and didn't know who to trust. He did not prepare her for it.

agfox

My wife will be well prepared. I have highly detailed spreadsheets, subscriptions to coin mags, and she plays the Ebay game as well. We're out of the time when most women stayed at home all day and cleaned house, the new generation are some tough cookies, and I love her for it


My problem will be when she dies, what am I going to do with all those candles?!

Bulldog

After many years of the question of what to do. My financial planners and lawyers have come up with a way that suits me fine. I doubt that it is enforceable as there can be no penalties, but at that point who cares.

Neither of my two children, have ever shown any interest in my hobby or coins ever. However, my granddaughter lives to be with her "poppy", and loves everything that we do with coins.

In my will, my grandaughter gets it all. There are some stipulations, based on the age of my granddaughter, about when and what she may do with the coins at different age levels. At age 35, she can turn it all into whatever she so chooses. There is a LAW guardian, that will monitor her actions through the ags stages.

My hopes are that she will continue and improve anything that we have already.

I do not look at my collection as an $$$$ asset. I prefer to think of it as a testimonial of my many hours, researching, searching, and putting together a half decent collection. I would hope that by the time I check out, Caitlyn will have the maturity to understand the true untangeable value of her windfall and continue the process.

Should she decide to cash out. I will be long gone and the decision will be hers. My thoughts and generosity to her are eternal. Only she can continue the process or change the direction. In my heart. I think that she will do the right thing. She is smart, shows great interest in numismatics and has been my buddy for 11 years.

Bulldog

shirohniichan

Since the responses have stopped coming in, I'll post my evaluation.

Would you send them all to a dealer you trust and say, "Make me an offer"?

The good part about this is that you get cash fast. Make an appointment, bring the coins in, and get an offer right there. The bad thing is that not every dealer (even the trustworthy ones) has use for all the coins in your collection. He'll pay a decent price for the coins he can retail, but he'll have to give you a conservative figure on the coins he's going to sell to another dealer.

Would you send them to an auction house (if so, which one)?

I don't have any experience with this, so I can't say which auction house is best.

Would you try to sell them on eBay?

The good thing is that now you're selling retail, not wholesale. The bad thing is that most eBay buyers are mooches. There are so many overgraded and wrongly-described coins on eBay that buyers are usually cautious (unless you make up a great story about selling a deceased husband's collection) and bid accordingly. Some say that eBay selling prices are the best indication of what a coin is really worth, but this is not the case. If it were, I wouldn't be able to sell some coins I get on eBay to dealers for more than I bought them for. Another bad part about eBay is that you have to deal with deadbeat buyers. Even when you get buyers who pay on time, you still have to package and mail off the coins.

To sum up, I think dealers are the best place to sell popular, raw coins. An honest dealer buying sight-seen will pay decent wholesale prices for coins he can resell quickly. Obscure coins are better to sell on eBay where they get a broader showing. Maybe auctions are best for popular, slabbed, high-end coins.

dwood

I'm with Bulldog on this one. Hopefully my daughter will take an interest, but she is only 3 right now so time will tell. If not, I have a 12 year old nephew who already has the bug. Like Bulldog, for me it isn't about the monetary value, but the testament to some beautiful coins, and countless hours I spent marveling and smiling over each one. I have a 1909 VDB (plain VDB) that I grade at MS60 at best. But it was my first "real collector's coin" and I'd sell my SVDB before I'd ever get rid of that old beat up, raw RB VDB. It really isn't about the money.

I know everyone reading this are the only ones who could ever possibly understand, so when I'm gone...someone else try to explain it to my wife, ok?

DesertLizard

Very interesting range of responses.


I say hunt where the big boys do.....ebay! I am no ebay fan but it is a huge source of potential buyers. It would take alot of patience though as many high auctions go unsold the first few go arounds.

Look at the major coin dealers and they almost sell on ebay, even the auction house Heritage does as well. Does it make sense to sell to a dealer who turns around and lists on ebay?

ARCO

Ebay probably beats out a dealer always on coins up to $500.00. Coins above $1000.00 in many series have dismal performances on Ebay. Ebay is sight unseen essentially, even with a big scan and a slabbed coin by PCGS or NGC you can get a piece o' turd coin that has been photographed to hide imperfections and hairlines.

The major auction houses may have an internet venue and outlet to view the coins, but also have live viewing where dealers and agents for buyers can peruse and view the coins in person...that is a fundamental advantage to pricing a coin correctly.

Coins $500.00 and below Ebay. The majority of coins $1,000-$2500 at the larger auction houses and probably any coin above $2500 would fetch the most at the major auction houses.

Tyler

smprfi

<< <i>One by one, on eBay. >>


Same here.

prooflike

I'd sell mine on ebay.

relayer

I'd hold a garage sale on my front lawn.

BigD5

Bulldog, I'd love to know, legally, how you could keep your granddaughter from doing as she pleases with your collection once she reached legal age?

Bulldog

BigD,

Fire off a PM to Adrian, at Anaconda. I would bet he has the insightand vehicle on target!

Bulldog

toyonakataro

If I am to sell all my U.S coins, I'll fly to U.S with my coins, hand them to a person who can speak my language and also have knowledge on coins, and simply say "yoroshiku-ne!!"

fcloud

I'm pretty much on board with the e-bay group. If you need a fast turnaround, and need to sell to a dealer, make sure you get bids from more than one dealer (sometimes it is best to sell to dealers at a show--there is a lot of competion to pick from). If I had any high dollar coins, I would try an auction house rather than e-bay.

GregWatson

I would like to suggest that you have to evaluate your goals in order to determine the best manner of disposition.

Are you a Collector or an Investor?

If you view your collection from a monetary perspective, the obviously, you would want to select a manner that maximizes the cash value.

If you view your collection from the passions of a collector, the appreciation of history, and the lifelong pleasure that the activity has offered you, then I would suggest that there might be OTHER considerations to take into consideration.

I would like everyone to consider a Private Sale of your collection to another collector - to someone that is going to appreciate the time, work, and effort that you have put into the process.

I've acquired several collections in their entirety that I will enjoy for decades. One collection focused on a series that I probably would have overlooked but am now developing a personal passion for.

For one of the previous owners, he did not want to see his collection "broken up". We now both get to enjoy it.

Greg

Tman

Hello All

Long time lurker first time poster.

This is an interest topic as My father and I are selling off and consolidating our collection. An idea that I have not seen is to set up a table at a decent size show. I know of an older gentlemen in this are who is in very poor health who has a very nice collection. He has set up at a local show (held twice a year) and has sold off the majority of his collection at close to retail.

On the high end stuff ($2K+) The auction houses are the way to go.

Tman

shirohniichan

This is a follow-up to my original post. I just sold a $5,000 set I had been working on to pay off some bills after I got laid off. I found that one way to get what I want for a set is to find a dealer with customers interested in the coins I have to sell, then offer them through him on consignment. I didn't know anyone who wanted to buy the whole set and didn't want to go through the trouble of selling it piece by piece. My local dealer knew someone, gave me my asking price, marked the set up 10%, and made another collector happy by selling him my 5-year project.

lincolnSence

coppercoins - give your wife my number. If you go unexpectedly , I'll take the whole lot!

Donny

For my higher end stuff...a yard sale!

dakra

If you have the time, I think Ebay is the best way to go, in most cases you will get closer to what the coin is worth as compared to a dealer. Dealers need to buy at an attractive price in order to make a profit on their resale of the item.

I have never used an auction house so I really can't comment on whether it would be better than ebay... although some of the prices I have seen at the auction houses are somtimes astronomical

-Dave

shirohniichan

eBay is not a good venue for PQ coins. eBay shoppers are usually bargain hunters, and many don't pay over Blue Sheet even for nice coins. After all, a description and some scans do not "sight-seen" trading make, so many assume even PCGS slabbed stuff will be bottom of the barrel material.