Best Place to Sell Collection

ar

A friend of mine has a coin collection that is worth at least $30,000, maybe closer to $40K or $50K. These 200 or so coins are not slabbed and I'm wondering what the best way to sell these to maximize proceeds. Is it Ebay? Physical auction? Dealer? Should he get them graded first?
thanks

RKKay

It depends on the coins. The more valuable ones should probably be slabbed. The first thing to do is show them to someone you can trust who is very knowledgeable.

coinguy89

In order to say what they're worth or what you should do with them, we would need a little bit of info on the coins or maybe some pictures. For example, types, years, mint marks, condition, amount, that kind of stuff. Without that info I really can't help you. Welcome to the forums though.

coinlieutenant

I agree with RKKay...it all depends on what the collection consists of. Ebay might be a good way to sell, it might be the worst.

If you would like more detailed advice, feel free to call me at 831 402 3306. I am sure that I can help.

Most...if not all of the people here on the boards would vouch for me.

V.r,
John

ar

This is the list he sent me. I know that some are very valuable, while others are virtually worthless. I don't have conditions yet, however.

US Coins
5 2000 US Mint Uncirculated Dollars
1 1887 $20.00 Gold US Mint Liberty Coin
1 1881 $10.00 Gold US Mint Liberty Coin
1 1881 $5.00 Gold US Mint liberty Coin
4 Complete 2 year uncirculated Susan B Anthony US Mint Dollar Coins
1979P, 1980P; 1979D, 1980D; 1979S, 1980S
4 US Mint Liberty Silver Dollar Sets: 1880, 1881, 1882

US Proof/Uncirculated Sets
10 1997 US Mint Uncirculated Proof Sets
10 1998 US Mint Proof Sets
10 1994 US Mint Uncirculated Proof Sets (2 series each set)
3 1994 US Mint Prestige Proof Sets
10 1990 US Mint Proof Sets
10 1993 US Mint Five Coin Proof Sets
10 1995 Uncirculated US Mint Proof Sets
10 1989 US Mint Uncirculated Proof Sets
10 1991 US Mint Uncirculated Proof Sets
3 1992 US Mint Uncirculated Prestige Proof Sets, with Olympic Silver Dollar

US American Eagles
5 2000 Uncirculated Silver Dollars
3 1995 Quarter Ounce US Mint Gold American Eagle Liberty Coins
2 1989 US Mint Uncirculated American Eagle Gold Coin Sets
1 ounce $50.00, 1/4 Ounce $10.00, 1/2 Ounce $25.00, 1/10 Ounce $5.00
1 1995 US Mint American Eagle Uncirculated Proof Set
3 1995 US Mint American Eagle Uncirculated Silver Dollars
5 1986 US Mint $50.00 Gold Liberty Coins

Commemorative
5 1997 Botanical Prestige Proof Sets, US Mint Commemorative Coins
1 2000 Bimetallic US Mint Library of Congress $10.00 Coin
2 1997 US Mint FDR Proof Sets $5.00 Gold Coins (4 coins, 2 in each set)
2 1993 3 coin WWII Victory Proof Set (2 silver one gold) US Mint
3 1992 US Mint 2 Coin Olympic Proof Sets
3 1992 US Mint 6 Coin Olympic Proof Sets
3 1991 US Mint Mt. Rushmore Proof Sets
1 1992 US Mint Uncirculated Olympic $5.00 Gold Coin
3 1992 US Mint Uncirculated Olympic Silver Dollar Proof Sets
2 1976 US Mint Uncirculated Bicentenial Silver Proof Set

World Coins
2 1980 One Ounce Gold Canada Maple Leaf Coins
2 1980 One Ounce Gold Krugerands, uncirculated
2 1984 One Ounce Gold Chinese Pandas, uncirculated
5 1993 Canadian Mint Proof Sets
1 1993 One Ounce Canadian Mint $100.00 Gold Coin
5 1984 One Ounce Gold Canada Maple Leaves
10 1991 One Ounce Gold Chinese Panda Coins, Uncirculated
10 1988 One Ounce Gold Chinese Panda Coins, Uncirculated
10 1988 One Ounce Gold Canada Maple Leaf Coins, Uncirculated
5 1969 Republic of Marshall Islands $5.00 Commemorative silver coins

Other
5 1993 Fleetwood Mint Elvis Presley $5.00 Silver Commemorative Coins
1 1993 Fleetwood Mint $50.00 Elvis Presley Commemorative Silver Coins
1 Bag Silver Coins

ziggy29

<< <i>It depends on the coins. The more valuable ones should probably be slabbed. The first thing to do is show them to someone you can trust who is very knowledgeable. >>

Agreed. In general, I *definitely* wouldn't go the eBay route with the more valuable coins unless I could take good pictures and had a high feedback rating (in terms of number and percentage).

Finding a professional opinion you can trust is the key here. You need to know not only how to best sell your coins, but also which ones should be "slabbed" for higher profit potential.

As for the liquidation, some dealers may buy them outright or take them on consignment. In general, since they don't have to tie up their capital, dealers would typically pay you more through consignment, BUT you wouldn't get the money until the coin sells. They may also be able to assist you with placing your coins at auction for a commission (a small percentage of the hammer price).

There's no one-size-fits-all answer. What's right for one collection and seller may be all wrong for another, and for any given collection, you may use multiple venues depending on the coins.

[EDIT to add: As far as the list you just put up, I'd slab the three 19th century gold coins, but nothing else (unless someone has a good eye for MS-68/PR-69 potential modern coins).]

kranky

The proof sets, uncirculated sets, commemoratives and American Eagles can be searched on ebay to see what they sell for. You will probably get less from a dealer. One thing you can do is go to greysheet.com and buy a downloadable copy of the Greysheet. That will show you the dealer wholesale prices, and you can expect to get 10-20% less than the "bid" prices shown for those items.

The World coins that are gold will probably sell for a bit above the current price of gold bullion.

The ones that could be all over the place depending on condition are the 1881 and 1887 US gold coins and the 1880-82 silver dollar sets. Do you know where and when they were purchased?

RKKay

I just posted a thread asking where to buy a groups of 1992 to 1995 proof sets. PM me if you want to sell those groups. Rick

RKKay

Oops. Double post.

coinlieutenant

I agree with Kranky...

291fifth

Ebay.

Blackhawk

While Ebay is a crap-shoot, I've found that if you're willing to spend the time taking pictures, making the listing, and answering questions, you're going to get a decent price for most items... the fee's, which between a listing service, Ebay, and Paypal amount to about 10%, are also a negative. Getting a table at a coin show will enable you to get better prices also, as you get plenty of exposure with collectors, but you've got to enjoy dealing with people and arguing with other dealers there about why you won't sell them a coin on your table at 20% below bid. Selling to a dealer can be OK if you have a working relationship with him (her) and they've got a buyer, but I've found that you can spend a lot of time with little return when going that route if they're buying the items for inventory. The B-S-T board on coin forums works out OK too at times, but the folks that belong to these forums are generally more accomplished collectors and you'll only sell common items at wholesale prices.

MrEureka

Unless your friend wants to do a ton of work to squeeze an extra 5% out of this collection, selling to a competitive dealer is the best option. If you PM me and tell me where your friend is located, I'll suggest someone in your area.

ar

We both live in the Kansas City area.

Thanks for your help, everyone. I will print this discussion and show it to him.

Andrew

dorkkarl

that looks like ebay stuff to me.

K S

ar

<< <i>I just posted a thread asking where to buy a groups of 1992 to 1995 proof sets. PM me if you want to sell those groups. Rick >>



It may be a few months before he's ready to sell, but we may post some items here. Thanks for your interest.

RKKay

Thanks. They're for kids on my baseball teams, so I'd need some next month and some in May.

airplanenut

<< <i>

<< <i>I just posted a thread asking where to buy a groups of 1992 to 1995 proof sets. PM me if you want to sell those groups. Rick >>



It may be a few months before he's ready to sell, but we may post some items here. Thanks for your interest. >>

If that's the case, go to the ANA show in KC in March, and you can probably sell everything there.

ARCO

Looks like almost 20K is in gold bullion that has little or no numismatic premiums. You could take them right to a local dealer or even list them here on the BUY/SELL board with your asking price. That will beat an auction house hands down.

Tyler