Question about Selling Coins to a Dealer

billdauman

I'll try to be brief.....I want to sell some coins(4 total)...all are PCGS.....older series...not dogs....

How much "should" a dealer buy these for?

Other info-
Dealer will see them in person,the coins are generic but very collectible.

From various sources:

Retail--$725

Wholesale/Grey Sheet--$560

If the dealer likes and could use these what type of offer should I expect?

Thank for the feedback.

Billd

BAJJERFAN

Probly at least 10% back of sheet so in round numbers $500 if you find a dealer that wants/needs them.

Cam40

or just ask `how close to bid can i get for these?`

chloebess

That is also my experience.

There are dealers that will buy anything in a holder, especially PCGS.

Cam40

ya, less than $500 and theyre robbin` ya

RYK

It depends on how desirable and in-demand the coins are. For coins in that price range, you might do better on ebay or the BST board here.

billdauman

so an initial verbal offer of 30% under would be way off???

Cam40

ya, most dealers offer 30% under i guess dont they?,,,

Hedger

It's always a losing battle selling to a dealer and you'll lose your shirt. Try selling here first on the Buy/Sell forum. You'll thank yourself later.

tlhoy

<< <i>It's always a losing battle selling to a dealer and you'll lose your shirt. Try selling here first on the Buy/Sell forum. You'll thank yourself later. >>

earlygoldnut

Determining what % of sheet a dealer will pay is difficult without knowing the individulal coins., some trade for sheet + and some for sheet - . Please list them.

tlhoy

How many times have I heard a dealer say "I got to be able to make a profit" as he offers me half of what the coins worth.

markglicker

Best to put them up on Ebay.

RYK

It's always a losing battle selling to a dealer and you'll lose your shirt.

It's often a bad idea to use "always" and "never" when giving any kind of advice. Last summer, I posted a desirable coin on the BST board and ttt'd it for a couple of weeks. I did not get a nibble. I took the coin to the ANA show and sold it to a dealer for 50% more than what I was asking here. Go figure.

Hedger

Well, that's is good advice but i have yet to break even selling to a dealer. I suppose you need to find the right buyer in this case.

Cam40

took the coin to the ANA show and sold it to a dealer for 50% more than what I was asking here. Go figure.

maybe its because we here dont know you look like a movie-star

earlygoldnut

It all depend s on the coins, if you list them or send me a PM I will tell you exactly what they should be worth. I have to run out so it would be later in the day but at least then you will know-



LIST THE COINS-

jdimmick

Tell us the coins you are selling, with all of the members present here, surely we can come up with an approximate value you can expect to recieve and possibly the best avenue to sell them. But for your sake, please dont offer to sell them in this forum as so many people get uptight about usuing the wrong forum for buy/sell. Based on the info you obtained here, you can post them on the proper BST forum for sale, e-bay or other avenue you choose?

jim

291fifth

Sell them on eBay.

BAJJERFAN

A coin dealer is smoeone who can follow you into a revolving door and come out ahead of you!!

100proof1957

just had a dealer offer me about 50 back of sheet !

will never call him again !

mrearlygold

There are dealers that will buy anything in a holder







Most coin buyers are like that although the same ones seem to think they know better, when in fact they haven't a clue.


Tom

RYK

I think that sometimes a dealer will lowball an offer when he/she really does not want the coin. Some might think it is better than "Thanks, but I don't buy that crap."

A coin dealer is smoeone who can follow you into a revolving door and come out ahead of you!!

Now that is very funny!

BAJJERFAN

YEAH!! The car dealers taught those coin dealers real well!

nickel

Often it's 'luck of the draw' If you walked by my table and i offered $540 , you would be satisfied . Getting $565 on ebay is ok also ,if you can live with fees ,mailing insurance etc .

roadrunner

For coins that are truly desireable and collectible, even if generic, you can usually get CDN bid or equivalent with just a little bit of shopping. I typically get that or more from coins I sell to other dealers and they charge me a similar %. Getting less than bid on desireable coins is a throw back to years gone by. But since it still works quite often, the tactic is employed by many dealers...and seasoned collectors.

It's often a bad idea to use "always" and "never" when giving any kind of advice. Last summer, I posted a desirable coin on the BST board and ttt'd it for a couple of weeks. I did not get a nibble. I took the coin to the ANA show and sold it to a dealer for 50% more than what I was asking here. Go figure.

RYK, this is often my experience too. I can almost ALWAYS get more money for coins by selling them to dealers. They know what they want and will either pass or play. I have long given up on using the BST, even for common generics like Morgans. Less than 5% of whatever I sell is to collectors.

roadrunner

mozin

What I would do is send them to Telerade and list them with a buyback at 15% below greysheet. In PCGS holders chances are they will sell for at least full greysheet. If they don't sell in the first auction they will be relisted a second, and then if necessary a third time. You do not pay but one buy back fee even if the coin never sells in the third try and only pay one selling fee when the coin sells.

Everything I sent to Teletrade sold the first time using this system. There was one coin returned by the buyer so it was relisted and sold for 20% more the second time.

Boom

Here it is from both sides,

If you want to maximize your return, sell to another collector because
a dealer has to have a way to make a living and if he or she offers you full price,
how then will they make any profit?

With this in mind, selling to a dealer is not the right thing to do,

The dealer HAS to buy low and sell for as much as possible.
This is the thin percentage he or she has to work with because they do have
legitimate overhead, payroll and lastly, themselves to pay.

You have to see the Big Picture from both side to understand "Why" things
MUST be this way.