Advice needed for marketing coins
RisingSun
Posts: 7
My late husband purchased a few coins in the early 1980's, which were graded by the dealer who is no longer in business. I have a 1840-C 2 1/2 dollar (graded as au), 1858C $2 1/2 dollar (graded AU50) and a 1904 $20 liberty (graded as a MS-64). I recently brought these coins to a local dealer and I was advised that both $2 1/2 Charlotte mint coins had been cleaned and would be returned as ungradable by the most grading companies. He thought the 1904 piece may have a chance at a MS64, but he thought it was a 63. I also have a 1927 St. G. $20 gold piece. All of these coins appear to be in excellent condition to my novice eye. The amounts offerred by the dealer totaled less than what my husband purchased them for more than 20 years ago.
I recognize what the current dealer said may be perfectly correct--which means my husband paid too much for coins which may have been misrepresented. On the other hand, I don't want my lack of experience in marketing these coins to make a bad situation worse. Assuming the Charlotte mint coins were in fact cleaned, what is the best method for getting a fair determination of their value and for selling them?
How should I go about getting a grade for the gradeable coins and how should I market them?
Thanks for your help.
I recognize what the current dealer said may be perfectly correct--which means my husband paid too much for coins which may have been misrepresented. On the other hand, I don't want my lack of experience in marketing these coins to make a bad situation worse. Assuming the Charlotte mint coins were in fact cleaned, what is the best method for getting a fair determination of their value and for selling them?
How should I go about getting a grade for the gradeable coins and how should I market them?
Thanks for your help.
0
Comments
Good luck.
Once you have a good idea of what they grade and relative value, you'll be better armed as a seller. Some recommend selling them on e-bay. If you're not skilled in e-bay listings, several here would be happy to assist for a fee (probably around 15%). You could also consign to an auction house such as Heritage or Teletrade. You could also try a local coin show, and get additional dealer opinions and offers. There are many options!
From there, figure out using ebay & Heritage auction records more or less what the coins ought to sell for, and you can either offer them to dealers at some % back from that (figure 20% or so?), ebay them yourself, or consign them in one of a number of auction settings.
You can also try the buy/sell/trade board here, which is a pretty good place to sell coins once you have a sense of where they ought to be priced.
Welcome aboard & good luck.
and i would get some professional photos taken of the coins and send to him and then maybe with some good photos he might be able to advise you a little more and might be willing for you to get set up with someone who can look at them and tell you if they will slab and at what grade?? with net details if damaged or?? at least the best way to get their market value with what you got
http://www.raregoldcoins.com/
he specializes in charlotte gold coinage
good luck and keep me informed
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
As to the original question - I would suggest taking the coins to a coin show where NGC and/or PCGS were offering grading services. I found it very helpful just getting an informal opinion from the NGC rep as to whether it was likely some coins I had would be accepted for grading. While at the show take the coins around to several dealers to get additional opinions. Also ask to locate those dealers who specialize in southern gold for the Charlotte pieces - they are more likely to have clients willing to forgive a little cleaning.
myself i would call doug winter and ask him
I second this. I know first hand that Doug will pay strong money for raw better date US gold coins, and is a "market maker" for southern gold coins like the Charlotte pieces. He is also the go to person for non-collectors who end up inheriting gold coins (or collections) and want to sell them. You can send the coins with confidence to Doug, and he will pay you top wholesale dollar. If he indicates that he is not interested in the Charlotte pieces, they are almost certainly cleaned/problem coins, and would best be sold in an auction by Heritage,
Doug's website
myself i would call doug winter and ask him>>>
I third this advice. Call Doug Winter.
Cleaned coins are not worth as much as if they weren't cleaned. It is possible that they were cleaned after being bought or they may have been misrepresented in the first place. Regardless they are still low mintage coins with some value.
The coin market in general was higher in 1989 than today. That was almost 20 years ago. Perhaps these coins were bought in 1989?
ANACS has said net grades will still be done, by request only.
J
siliconvalleycoins.com
Welcome aboard and thanks for coming here instead of getting harpooned by the local dealer.
Would also say that if you sent your coins to 99 % of the members here for an opinion you could be assured of getting them back !
It really isnt talked about much but, there are an awful lot of coins and money that changes hands between people round here that have never even spoken on the phone.
BTW,i know squat about southern gold !
Proof
I am troubled by the idea of a flat offer as Doug is only one buyer and other buyers have not had an opportunity to view the coins. I like your idea of giving Doug a small percentage. What percentage would be reasonable?
Thanks.
I would show you a copy of the photos but even one file was too large for downloading to the forum. Would you like me to email you a copy? They are not professional photos, but I have a 4 M digital camera with micro focus, so I got pretty good quality photos.
Rising Sun
?? please thanks ryk.
BTW, PLEASE BR VERY CAREFUL TAKING THE COINS OUT OF THOSE CARDBOARD FLIPS! Many coins are ruined by staple scratches on the way out.
Robert
leave the staples alone and take a toothpick and punch some holes around the coin till it is freed.