With the dollar in the doghouse, does it make sense to sell European coins in the USA?

MrEureka

In most cases, I'd say yes, but I'm sure there are some exceptions. What do you think?

Zohar

I believe that a bankrupt economy, with little faith in the local currency, draws available income to seek alternative, inflation protected investments. World coins are a global currency. Proof of this has been the strong Heritage auctions we have seen recently.

MrEureka

Let's work on the assumption that you've already decided to sell. Now, it's just a matter of deciding on where the coins will get sold.

SYRACUSIAN

Depends on the coins. German auction houses are still selling many raw coins that if slabbed, would have brought much less in a US auction, rightfully or not. I wonder if any auctioneers are honest to the full extent. I've recently observed the sale of a rare ex mount and polished gold Greek 1876-A crown for a price of a gVF example. No mention of its problems and even if the auctioneer mentions them, the written bids are there along with the internet. A tiny 1874-A 20 lepta silver was sold as a proof, when we all know that these little beauties (of which I've recently acqiured an additional colorful gem at Baldwin's) are very prooflike but not proof. The realized price was that of an unattractive proof.

Timing is also an issue. You might consign coins at a currency exchange of euro VS dollar at $1.31 and by the time the auction takes place and the additional 40 days to receive payment, that exchange flies upto 1.60. Hopefully, now, it's time to come down.



Let's work on the assumption that you've already decided to sell. Now, it's just a matter of deciding on where the coins will get sold.

If I could, I'd wait for September and watch closely, the exchange rates and the June results of the final auctions before summer of which I doubt that the deadlines are still on. Or I'd assign a sale to a good agent for a private deal.

pmac

Are common European coins that are now not in circulation due to the changeover to the Euro in any demand?

JamesMurray

<< <i>Are common European coins that are now not in circulation due to the changeover to the Euro in any demand? >>



When i set my weekly auctions i generally put up a number of commen circulated World coins as one lot and without fail they always sell and usually for a bit more than i would have guessed.In my case i think it's been a matter of making it an interesting lot , adding one or two freebies upon sale pretty much guarentees sterling feedback.

MrEureka

I don't see the currency of the auction as as an issue. Yes, at a sale in the US, some dollar-based buyers may not be able to compete against some euro-based buyers. But that would be true wherever the sale takes place, regardless of the currency used.

OchoReales

<< <i>Let's work on the assumption that you've already decided to sell. Now, it's just a matter of deciding on where the coins will get sold. >>



With a world wide collector base of some 600,000 (I've been told) collectors, I have decided to consign the Jerusalem Collection of Palestine Mandate (1927-1946) to Heritage at Long Beach. As it is +/- 150 pieces, I assume it will be offerered in 2 or 3 total sales (many of the top pops or 2nd finest have a duplicate or two.

MrEureka

...I assume it will be offerered in 2 or 3 total sales

I would assume otherwise, so I'd suggest that you tell them what you want.

OchoReales

Good advice!

Zohar

Letting the Jerusalem collection go? That will get a buzz going.

coinlieutenant

How many European buyers are represented at Heritage sales Andy?

Trust me, I have though about selling given the dollar weakness. I wonder what that 1916 would bring that I bought from you.

pruebas

I guess I don't get it.

If you sell in Europe, you repatriate those strong Euros (let's say to USD) and do well, even if your results in Euros are not great.
If you sell in the US, you do well due to the dollar prices being "cheap" to European buyers.

What's the difference?

Since many buyers don't have representation or attend the sale in person, choose the vendor with the best internet platform.

One often overlooked area I feel, is the time the item hits the auction block relative to the time in the item's home country.
Do you really want to be selling German coins when it is 3:00 AM local time in Germany?

MrEureka

I have though about selling given the dollar weakness. I wonder what that 1916 would bring that I bought from you.

An MS63 is probably worth the same in Swiss Francs as it was when the Franc was 30% lower against the dollar, which translates to a roughly 50% gain when measured in Dollars. But an MS 66 may not have done as well for a dollar-based owner, because much of the demand for gem Swiss is in the USA.

MrEureka

How many European buyers are represented at Heritage sales Andy?

My impression is that the high end of the market is well covered by buyers all over the world. The lower end, not as much.

coinlieutenant

Well, either way, I wish I could find more of them like the 1916. I still have not seen its equal...