Best way to sell?

jhuberdude

I have a couple coins I want to sell. I took one to a local coin shop a couple months ago to ask their opinion. It was a nice MS gold dollar that was left to me. I asked the dealer his opinion on grade, telling him I was considering sending it to PCGS. He went on and on about grading and how it had a 50% chance at MS63, 30% chance of 62 or 64 and 10% at 65, or 10% at 61. Well you are probably as confused as I was. He basicaly told me it was about MS64, but that PCGS would grade it a 63 or 62 and offered me $1200.00 for it. I was tempted, but left.
Sent it out for grading and it got MS66. So the price guide shows this as a $2500.00 coin. Should I bring it back to the dealer and see what he offers?
If I want the best shot at reaching $2500.00, where should I sell it?
Ebay
a big coin dealer auction
other?

Thanks, John

JrGMan2004

Check around here on the forums first... plenty of gold collectors here who might be interested...

mercurynut

I would send it in for grading...no guessing that way.

ealandg

Yup. First I would try the BST forum, then the bay of E. If you have a few other coins you are looking to sell as well you might want to consider one of the auction houses, but a lot of them have $5000 minimums.

coinkat

I think it depends how quickly you want your money... I would consider consigning to one of the larger auction houses... Heritage or pick among the others.

jdimmick

Dont you feel glad you didnt take that 1200.00 offer.

ms71

What year is it? The guy offering you $1200 for it says he figured it as a 65 as a minimum.

ddink

<< <i>Sent it out for grading and it got MS66 >>



Congrats! I'd try the BST boards and then eBay. Coins over $10,000 probably don't do as well, but a $2000-$3000 coin would probably do well.

Goldfinger

First of all, congratulations! The best, fastest, most hassle-free place to sell is probably right here on these boards. I absolutely would NOT go back to your local coin shop. You can be sure the dealer knew he was looking at a coin that had a good chance of grading MS66 and he was trying to rip you off. A 10% chance of grading EITHER 65 or 61? Sorry, that's not the way it works. There's really no confusing a 65 with a 61. He was trying to take advantage of you and just hasn't earned your business.

Look at recent prices realized at auction and on eBay for the same year and grade of your coin to get an idea of what a fair price would be. There are many collectors on this board who would be happy to pay a fair market price for your coins.

-Jay

MICHAELDIXON

Sent it out for grading and it got MS66.
.
Is it graded by PCGS? As for the price guide stating a price of $2500 and you actually getting $2500, it is unlikely. The price guide is highly inflated, and, in my opinion, shows vaules for insurance purposes. It's like the insurance value on the Antiques Road Show. They have the auction value, appraisal value and insurance value in that order with the insurance value being the highest. Good luck! You should post a pic and let everybody see it.

jhuberdude

Here is a scan I did a while ago, before it was slabbed. A photo would look much better. It IS in a PCGS MS66 holder now, I just got it back.
I was thinking about bringing it back in just to shove it in his face. I have not dealt with this guy much, so I doubt he would remember what he said.
He never gave me a clear grade opinion, but did offer me $1200. He got my head so dizzy with the grading deal that I stopped thinking about it for weeks!
He basically ball-parked it at 63 but made it seem like a few points either way would be a crap shoot.
I kept looking at MS65 Morgans in the display case with bag-marks on them, and looking at mine and thinking, damn my coin looks better!
After joining the boards, I feel I have learned a great deal more and can grade for myself better. (or get an opinion from you all)

jhuberdude

On another note-
You may notice a couple things on this coin.
#1 Liberty is not fully formed. It must have been a weak strike.
#2 there is some deformation behind her ear where it also looks like a weakly struck area.
#3 Some denticles on the rear are sort of flat.

All of the above look absolutely original, and the entire coin is full of luster.
John

mrearlygold

Consign them to ANR. There's a LOT coming up for sale to make the next couple of sales quite exciting

TP

Placid

You should be able to get about $2,500 for it. See if Heritage will put in the Long Beach signature sale.
The deadline is Apr 22.

jhuberdude

So I went back to the coin shop today. Showed him my four PCGS coins and asked him if he was interested. He looked them all over and gave me prices. Not too bad, but still less than I was thinking. I understand he needs to make a living as well. He offered me $1700 for the coin. Better than the $1200 he offered a few months ago, but still less than I want.

He checked the grey sheet for the prices and told me the PCGS prices are inflated. To show me this, he brought out a $10 1914s MS65 gold eagle. He told me it lists for over 50k on PCGS, but he was selling it for 35k.

I don't think badly of him, but do think he wants to make a profit on the coins.
Thanks for the help all, John

Placid

I checked what 66 gold dollars have been selling for on Heritage. $2500 is pretty accurate.

RYK

I may be in the minority here, but I do not think the local guy did you wrong. Gold dollars are very small and very difficult to grade. He hedged on his grading because I am sure he is not comfortable in this area. He probably sees 3000 Morgans, 1000 Frankies, and 500 Walkers for every MS gold dollar! Perhaps he should have told you this up front. If you have a "special coin", seek counsel from a specialist. You would not take your Maserati to Jiffey Lube, would you?

291fifth

Find another dealer, or, better yet, take it to a major show in your area and see what you can get for it there.

jhuberdude

I think I am going to bring it and a couple others to auction.
In all fairness, I can't fault the dealer too much. While I think his original offer of 1200 was a bit low, he was pretty close with another coin. I also have a PCGS MS66 pan-pac Dollar. He offered me $3160 which is $40 less than one that just sold at Santa Clara.
I may not sell to him, but his prices otherwise are decent.
John