A SERIOUS ? for the DEALERS...

MORGANHUNTER2

I accidently posted this over in the OF- that was a huge mistake.

Anyway, here's my question.

I'm selling off my morgan set(68th in the Basic+Variety -Circs) and have the Grey sheet from friday, Numismedia as of friday, and of course PCGS price guide.
Grey sheet sez- BID- $6800.00+ and ASK$7470+; Numismedia sez $9245.00, and PCGS comes in at $9100+.

What can I expect from a dealer as far as an effective and equitable sale? would it presumptious of me to come in between the ask price and the PCGS figures?
or should I expect the low of ASK on the greysheet?

It really is a help knowing what to and not to expect.


Thanks for your thoughts.

PerryHall

Most dealers: "10% back of bid".

p8nt

Expect lower than greysheet bid. Use an equation to figure out how much...

dealer = 10% back of bid
dealer on a bad day = 15% back
scum dealer = 20-30% back

mrearlygold

What's blue sheet? What have comparable coins sold for at recent auctions?

You cannot say 10 back, 20 back etc etc etc unless you are talking generics. Too many variables.

amercoin

I would offer bid if the plastic doesn't lie.

Steve27

I'm not a dealer, but I think it would depend on the coins. For key dates or low pop high grade common dates, you might do much better than bid; however, for mid-grade common stuff, you'll get less than bid.

Russ

<< <i>scum dealer = 20-30% back >>



Why is a dealer scum if they offer 20% to 30% back of bid?

Russ, NCNE

MORGANHUNTER2

HERE'S A QUICK BREAKDOWN:

13 IN MS65 / 9-64'S/ 22-63'S/1-63DMPL/1 XF

Of this group 13 are in OGH, and a total of 9 Vams- unattributed on the holder- but that can be rectified, with a copy of the Vam pic.

common- yep- but I'm not sellin the raw stuff it is on hold for a long time. I'm just 'cleaning' house.

291fifth

20-30% back of Gray sheet bid.

MORGANHUNTER2

I don't think anyone in their right mind would toss a 93-S in a lets say an au holder for 20-30% back of bid.

I don't see to many people looking to go back of bid even on a simple coin like a 78cc in a 4 or 5 holder- 20-30 is me walking away from the table in a polite manner.

MORGANHUNTER2

Has anyone ever done a split of the Bid/Ask before?

Taking into consideration that the dealer CAN sell the items or liquidate at better than what he offered the seller?

rkfish

To just put a generic answer to your question is impossible imo.....it really depends on the coins themselves and without seeing them "in hand" I believe most dealers would be in the 10%+ back if CDN "bid" imo. After viewing the coins I believe if they are all the quality you speak of you would probably be in the ballpark of CDN "bid" to 5-7% back of CDN bid.....we would probably be in the 5-7% back of bid range sightseen for these dates/grades unless the VAM's command a premium to CDN numbers.

Let me say that we RARELY buy or make offers to buy coins sight unseen unless they are coins we have previously sold. I ask that all coins be shipped to us to review (at our expense) and a offer is made within 24 hours....if it's not acceptable or one can't be reached then the coins are shipped back (at our expense) the next day overnight mail. The entire turnaround time should be less than 4 days.

WTCG

It depends on the date of the coins for sale. Common dates regardless of grade generally trade at less than Greysheet bid while the better dates, depending on demand at the moment, trade for around Greysheet bid. The (legitimately rare) key dates can realize prices higher than Greysheet.

On the issue of key dates, many of the key date Morgans such as 1879-CC's, 1889-CC's, and 1893-S's can be easily located in most circulated grades. As a result these "key dates" may not be worth current published Greysheet bid prices. The 1895 Proofs can also be easily found in almost any uncirculated grade.

Several of the high grade common Morgans dates (example: 1887, 1898-O, 1899-O) in MS66 and MS67 are very difficult to sell. Most of those are worth around Bluesheet bid at best.

mrearlygold

<< <i>Has anyone ever done a split of the Bid/Ask before?

Taking into consideration that the dealer CAN sell the items or liquidate at better than what he offered the seller? >>



Depends on what price they sell , what they are bought for, what the markets like that day, who the customer is, etc etc etc etc etc.

Unless one is stealing the coins, it's not possible to place an arbitrary discount on the buy ( or sell price ) price of those coins, sight unseen and be fair to anyone.

SamByrd

morgans are not as hot as they were a year ago and to be honest 10 or 15% behind bid is about right,
however it depends if the dealer wants them many want to select what they want from a group and discount more if they buy the group.

if it were me I would list all of them one at a time and ebay them, the cc's do very well still and many pcgs slabs sell for close to retail with the ogh slabs doing much better often times.

stman

Considering what others have mentioned as the market for these....I would seriously think about what rkfish has mentioned to you, and highly recommend him to be as fair as possible. You have nothing to lose and it will happen quick. Just my opinion of course.

MORGANHUNTER2

Thank you - all of you- this has been very informative.

I'm scanning the entire set and putting them in my photshop/bucket on yahoo.

When I can figure on HOW to link the dang thing here so the pics are a little better to see- then I will burn a few off for those that want to see what I'm 'dumping'.

I had figured that 6-9% back of bid on these will be ok- the better ones I think will do the job as well, maybe better.

I'll try to post and come back later.

Again thank all of you- yes Laura your wisdom IS truly appreciated.

jdimmick

This is exactly what I was referring too in another thread about what is slow, only to be pounced on by other members becuase I made the remark about the Morgan market. Laura's and Wei's comments are right on for what I am seeing currently in the Morgan $ market. I know Laura deals on the higher end, but WeI definitley knows the whole Morgan $ market.

jdimmick

Too add too this: Around here locally, not many key-dates or signifcant rarities come through. However, one thing that always seems to be available are Morgan $. Over the past 3-4 months, I have had to curtail my buying of Morgans significantly becuase they were not selling anywhere near the levels they were. In fact several are not currently worth even thier CDN greysheet listing price. The only time I buy them now, is if they come in from a older fresh collections, the coins are higher end & choice, potential significant upgrade candadites or have that something extra. And just becuase they are in a PCGS OGH, doesnt necessarily mean they are above average or that I even consider buying them.

jim

ABC123

You would do better on eBay ! Forget the Dealers

roadrunner

Some local dealers in my area pay bid routinely for store stock. They have no problem moving popular coins like commems or Morgans.
0-7% back of bid seems reasonable and achievable. The PQ coins can fetch bid or more. All depends on the coin. Very average looking coins or lower end ones will be hard sellers. This is why I say if you build a set, get all the better coins first and delay the purchase of the easy ones until the very, very end. You can always get those. Frankly, I'd rather have a set of all key and semi-keys.

roadrunner

mnmcoin

In general (all that is appropriate on a discussion such as this) as a dealer I would offer between 20%-30% back on the common stuff...depending on what they look like and between 0%-15% back on the better stuff again depending on what they look like and how bad I need the coin.

morris <><

FatMan

<< <i>You would do better on eBay ! Forget the Dealers >>

I agree. I consigned about 40 morgans in 64-65 about a half a year ago and every piece sold well over sheet.

JapanJohn

Put 'em on ebay. A Morgan that nobody else will give you $10 for will almost certainly sell in a heartbeat for a $25 Buy It Now.

Plus you can sell them one at a time or in small groups. The down side is all the eBay shenanigans. If you go to a dealer you'll get paid but you'll probably take a minor beating.

Heck post them on eBay and be as honest as you were here. Set a reserve and set a "Pie in the Sky" Buy it Now. Somebody might bite.

John

coinbuf

I think you have your answer at about 10% back of sheet on average. If it were me I'd try the BST board here and on the NGC site, free to sell.

Chris

michael

i would send to rkfish

topstuf

Starting to sound like real estate.

Coindexter

I decided a while back that when it comes time for me to sell (and time is not a determining factor) that the order of operations is as follows:

1) BST Forum (collectors will pay closer to retail for solid coins than anyone else and there are tons of reputable and decent people here)

2) Ebay (many coins, generally speaking, will realize their best potential here. it is only because of potential heartaches that this isn't my first choice)

3) Dealer