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If you were going to sell off some coins?

Type2Type2 Posts: 13,985 ✭✭✭✭✭
What would you do? Sell a lot of the bulk like lets say a 100 or so coins of the $200 to $1000 range or 5 or 10 of the biger $$ coins from $5K to $10k and lets say up to $50k What would you do? image


Hoard the keys.

Comments

  • ElcontadorElcontador Posts: 7,656 ✭✭✭✭✭
    The place to market the coins depends on what you have to sell. Tom Reynolds would like to see a problem free Unc. Half or Large Cent, but if you showed him an MS 66 Morgan, he'd wonder why you brought it to him..
    "Vou invadir o Nordeste,
    "Seu cabra da peste,
    "Sou Mangueira......."
  • Type2Type2 Posts: 13,985 ✭✭✭✭✭


    << <i>The place to market the coins depends on what you have to sell. Tom Reynolds would like to see a problem free Unc. Half or Large Cent, but if you showed him an MS 66 Morgan, he'd wonder why you brought it to him.. >>

    No i'm not asking where to sell but if you if you were going to sell how would you sell off some of your coins. I miss spelled i do that from time to time. In a lot of the smaller priced coins or just 5 or 10 of the bigger priceed one's. Up to $50K


    Hoard the keys.
  • I would probably sell the smaller stuff first because I would likely want to keep the large items more. Basically, I'm saying keep the things you like the most, sell of what you are less interested in.
  • PlacidPlacid Posts: 11,299 ✭✭✭
    Whats the goal of selling? Get money to buy something or just have too many coins now?
    If to get money selling I would sell larger value coins first to meet my goal.
    If to trim down a collection I would sell the lower value coins first.
  • CCC2010CCC2010 Posts: 1,997 ✭✭✭


    << <i>Whats the goal of selling? Get money to buy something or just have too many coins now?
    If to get money selling I would sell larger value coins first to meet my goal.
    If to trim down a collection I would sell the lower value coins first. >>



    image
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  • Sell the lower value coins. Then if you needed to replace a smaller one later, it would not be a huge investment.

    Morgan Everyman Set
    Member, Society of Silver Dollar Collectors.
    Looking for PCGS AU58+ 1901-P, 1896-O, & 1894-O
  • Steve27Steve27 Posts: 13,275 ✭✭✭
    It all depends on time-frame. If there was no time pressure, I would offer them here first, take a table at a local show, and/or consider an auction site.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • s4nys4ny Posts: 1,573 ✭✭✭
    Sell lesser value first.
  • BarndogBarndog Posts: 20,512 ✭✭✭✭✭
    having just done this, I sold off the nine "biggest" coins to achieve a targeted dollar value. The remaining hundred or so, I kept.
  • CoinRaritiesOnlineCoinRaritiesOnline Posts: 3,680 ✭✭✭✭
    The best time to sell a coin is when someone wants to buy it. So whatever you have in that category, regardless of price point, is where I would begin.
  • I would sell the ones I bought but don't really collect. While it sounds obvious we all have coins that were impuls buys that don't fit our sets. If you are a mature enough collector to have decided on a focus than advice I can give is stick to it.

    I use the box of 20 concept to act as a suplement to my collection. When I buy a widget, one must go out of the box.
  • CoinRaritiesOnlineCoinRaritiesOnline Posts: 3,680 ✭✭✭✭


    << <i>I would sell the ones I bought but don't really collect. >>



    It sounds like the OP has decided to sell everything, and the question is merely about sequence. I guess.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,514 ✭✭✭✭✭
    Sell what brings the most amount over your cost basis , as needed. If the need is liquidity, do it wisely.
  • TPRCTPRC Posts: 3,814 ✭✭✭✭✭


    << <i>

    << <i>The place to market the coins depends on what you have to sell. Tom Reynolds would like to see a problem free Unc. Half or Large Cent, but if you showed him an MS 66 Morgan, he'd wonder why you brought it to him.. >>

    No i'm not asking where to sell but if you if you were going to sell how would you sell off some of your coins. I miss spelled i do that from time to time. In a lot of the smaller priced coins or just 5 or 10 of the bigger priceed one's. Up to $50K >>



    Well, I think your tag line says it all.....I would keep the more valuable ones and sell off the less expensive ones. It will be harder for you on the front end, but it will make it easier for you down the road. The idea is to get to your box of 20, or 40, or 200, or whatever. I just did almost exactly this. I don't regret it as it served its purpose and I am already re-building, hopefully with a more calculating eye and a sharper focus.

    Tom

  • MidLifeCrisisMidLifeCrisis Posts: 10,550 ✭✭✭✭✭
    The answer depends on your reason for selling.

    Sell the lower priced stuff if you plan to keep collecting in the same area or specialization and want to keep your higher priced coins because they would be difficult to replace.

    Sell the higher priced stuff and keep the lower priced stuff if you want to generate cash quickly or if you have grown uncomfortable with having large amounts of money tied up in single coins.

    Sell everything and free yourself up to start a fresh collection in a new direction, or walk away from the hobby for a while and take care of other things.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,514 ✭✭✭✭✭
    Mad money is not all that mad.
  • RYKRYK Posts: 35,799 ✭✭✭✭✭
    I am constantly selling coins that no longer interest me and adding coins that do.

    Much depends on collecting goals and actual sets that I am working on or have completed. Sometimes, I sell a set after completing it to move on to the next thing.

    One approach is to go through your collection, coin by coin, and ask yourself, "If I did not own this coin and it was being offered to me today to buy, would I buy it?" If the answer is "No", it probably is a coin to sell.
  • BAJJERFANBAJJERFAN Posts: 31,236 ✭✭✭✭✭


    << <i>
    One approach is to go through your collection, coin by coin, and ask yourself, "If I did not own this coin and it was being offered to me today to buy, would I buy it?" If the answer is "No", it probably is a coin to sell. >>



    To a degree this situation depends on how much surplus cash that one had available. I'd buy a lot of what I have or rebuy what I've sold if money was no object.
    theknowitalltroll;
  • RYKRYK Posts: 35,799 ✭✭✭✭✭


    << <i>

    << <i>
    One approach is to go through your collection, coin by coin, and ask yourself, "If I did not own this coin and it was being offered to me today to buy, would I buy it?" If the answer is "No", it probably is a coin to sell. >>



    To a degree this situation depends on how much surplus cash that one had available. I'd buy a lot of what I have or rebuy what I've sold if money was no object. >>


    The premise of the thread is that the OP is selling coins and trying to decide which to sell and which to keep. I have offered one possible suggestion of how to do this.
  • BAJJERFANBAJJERFAN Posts: 31,236 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>
    One approach is to go through your collection, coin by coin, and ask yourself, "If I did not own this coin and it was being offered to me today to buy, would I buy it?" If the answer is "No", it probably is a coin to sell. >>



    To a degree this situation depends on how much surplus cash that one had available. I'd buy a lot of what I have or rebuy what I've sold if money was no object. >>


    The premise of the thread is that the OP is selling coins and trying to decide which to sell and which to keep. I have offered one possible suggestion of how to do this. >>



    Indeed you did sir.image
    theknowitalltroll;
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I have not considered selling my coins....image Cheers, RickO
  • BAJJERFANBAJJERFAN Posts: 31,236 ✭✭✭✭✭


    << <i>I have not considered selling my coins....image Cheers, RickO >>



    eBay would be a good place if you ever decide to sell.image
    theknowitalltroll;
  • BarndogBarndog Posts: 20,512 ✭✭✭✭✭


    << <i>

    One approach is to go through your collection, coin by coin, and ask yourself, "If I did not own this coin and it was being offered to me today to buy, would I buy it?" If the answer is "No", it probably is a coin to sell. >>



    Did exactly that yesterday. Found a few image
  • MrEurekaMrEureka Posts: 24,394 ✭✭✭✭✭
    I have not considered selling my coins..

    If you have not considered selling your coins, it means that either you have too much money, or you haven't been buying enough coins. Seriously.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭
    Sell the small stuff first, more work, but what you will have left will be nicer and easier to sell.
  • BAJJERFANBAJJERFAN Posts: 31,236 ✭✭✭✭✭


    << <i>I have not considered selling my coins..

    If you have not considered selling your coins, it means that either you have too much money, or you haven't been buying enough coins. Seriously. >>



    Some folks really don't have to sell.
    theknowitalltroll;
  • Type2Type2 Posts: 13,985 ✭✭✭✭✭
    I dont need to sell. But it's getting out of hand i have way to much stuff, I have time no big hurry just thinking. image


    Hoard the keys.
  • RYKRYK Posts: 35,799 ✭✭✭✭✭
    Sell the stuff that was easy to buy (and hard to sell); keep the stuff that was hard to buy (and easy to sell).
  • Type2Type2 Posts: 13,985 ✭✭✭✭✭
    Ya i think you are right sell the common stuff and keep the hard to find stuff. I think i'll do that it won't take much maybe 40 or 50 coins will do it. Thanks all for your in put this will help. image


    Hoard the keys.
  • coinsarefuncoinsarefun Posts: 21,754 ✭✭✭✭✭


    << <i>Sell the stuff that was easy to buy (and hard to sell); keep the stuff that was hard to buy (and easy to sell). >>








    This is THE best advise !!



  • BAJJERFANBAJJERFAN Posts: 31,236 ✭✭✭✭✭
    Sell em all and start over. As one who started to sell off stuff, I find that I am more OCD about selling than I was about buying. Sometimes I have a little seller's remorse which soon goes away when I see that stack of Grants that I got in exchange.image
    theknowitalltroll;
  • CoinJunkieCoinJunkie Posts: 8,772 ✭✭✭✭✭


    << <i>I dont need to sell. But it's getting out of hand i have way to much stuff, I have time no big hurry just thinking. image >>


    You just answered your own question. Since you have "way to [sic] much stuff", sell the quantity and
    keep the quality.
  • crazyhounddogcrazyhounddog Posts: 14,042 ✭✭✭✭✭
    This is a VERY good question since I'll be selling my entire collection very soon.
    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • CocoinutCocoinut Posts: 2,515 ✭✭✭✭✭
    Sell any duplicates first, keeping the best example of each. Then if there are specific series for which you no longer have much enthusiasm, sell those next, followed by "widgets" that can be found at any coin show. This should reduce the volume of your collection, and leave you with a manageable collection of your best coins.

    Jim
    Countdown to completion of my Mercury Set: 1 coin. My growing Lincoln Set: Finally completed!
  • Type2,

    That is a good question. It would depend on how much time I had available to me. Right now I would sell as a lot. If I had extra time I would try to maximize my take.


    Good Luck
    All the best,

    Rob

    image

    Successful Trades with: Coincast, MICHAELDIXON

    Successful Purchases from: Manorcourtman, Meltdown
  • AMRCAMRC Posts: 4,280 ✭✭✭✭✭
    It depends on a few things.

    Why are you selling?
    What is the price range between your low and high stuff?

    These answers would change my answers.
    MLAeBayNumismatics: "The greatest hobby in the world!"
  • Cougar1978Cougar1978 Posts: 8,723 ✭✭✭✭✭
    Assuming you have enough material to fill a 2 x 3 ft display case (and its at least around $10 K total) why not take a table at a coin show, launching your coin business allowing you to take a Schedule C deduction? While at the show you can lock up your cases during slow periods and go around the bourse offering it to dealers if that suits your goal. However, its more fun to retail it to the public.

    At my first show in January of 1990, I shared with a friend from the coin club at the Greater Houston Show (who also had a lot of expertise) with a glass case I picked up brand new for around $60 plus a light for around $15. I had more than enough slabs to fill a case (generally you can display about 80 slabs in a 2x3 foot glass display case and stack as high as six slabs). I also bought a second case at the show. I think my total inventory investment was around $15 K. Later I added two more display cases and got a DBA certificate for the business plus a business bank account. Then at tax time I enjoyed the advantages Schedule C offers. I even bought some bourse trays for raw coins (four 28 coin trays fit in a case) and a typical 28 coin tray of mine at a show might have 4-5 world gold coins plus some other world coins in the $10-$100 range for retail customers. I eventually got in to both US and World currency. My friend from the club had done a number of shows and we had similar inventories which added synergy plus sharing an 8' table reduced the impact of bourse fees.

    You will find out, if you don't already know, its a lot easier to buy coins than sell them. Everything I buy now I consider what I will sell it for. if it has much of a market, and how long can I expect to hold it. I have coins I held ten years before I got a decent return others just a matter of days. The most fun ones sold (for more) at the same show they were purchased.
    Coins & Currency

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