Cheerios Dollar? Ebay Best Bet?
planonit
Posts: 525 ✭✭
For those of you who have not been on the Buy/Sell/Trade forum I am the new guy with the Cheerios Sacagawea. I've had it for awhile and looking to sell/trade. Now my question is what do you guys/gals think is the best place to sell a coin like this? Saying it is obscure is an understatement.
Now, every collector has that coin ( Or stamp. baseball card, etc) that they say over and over is super 'under-valued". I have always avoided saying things like that because I don't see the point. I think key date Morgan dollars are super under-valued but mainly because of the INSANE amount of counterfeits. (I have seen about 25-30 fake 1893s Morgans for every real one). The Cheerios Sacagawea w/ Rare Reverse is a cool coin but even a vast majority of modern US coin collectors have never heard of it.
I told this anecdote on another forum but around 2 weeks ago when I decided to sell this I called dealers near me. Maybe 3-4 even knew what I was talking about. A majority who didn't know and I then told them about it and even just reverted to saying "Are you near a computer? Google it" said I should crack it out and spend it. One dealer seemed curious and I told him the back story as he seemed genuinely interested.....he then told me it was stolen from the mint and obviously illegal to own and I should not try and sell it. (That is 100% true story).
So maybe this coin is 'under-valued'. I don't know. In talking to other collectors and dealers it does seem that this coin (in original package) seems to do way better on Ebay. Does that make sense? I don't know but it seems true.
I think the cynic in all of us would say 'Well there are a lot of novice collectors on Ebay and they way over pay because they still think this coin is a 15, 20, 30k+ coin like back in 2009". Maybe.
Part of the problem is that I can't find any other place where one in the package has sold except Ebay.
Curious other people's thoughts about this and maybe even other obscure coins.
Now, every collector has that coin ( Or stamp. baseball card, etc) that they say over and over is super 'under-valued". I have always avoided saying things like that because I don't see the point. I think key date Morgan dollars are super under-valued but mainly because of the INSANE amount of counterfeits. (I have seen about 25-30 fake 1893s Morgans for every real one). The Cheerios Sacagawea w/ Rare Reverse is a cool coin but even a vast majority of modern US coin collectors have never heard of it.
I told this anecdote on another forum but around 2 weeks ago when I decided to sell this I called dealers near me. Maybe 3-4 even knew what I was talking about. A majority who didn't know and I then told them about it and even just reverted to saying "Are you near a computer? Google it" said I should crack it out and spend it. One dealer seemed curious and I told him the back story as he seemed genuinely interested.....he then told me it was stolen from the mint and obviously illegal to own and I should not try and sell it. (That is 100% true story).
So maybe this coin is 'under-valued'. I don't know. In talking to other collectors and dealers it does seem that this coin (in original package) seems to do way better on Ebay. Does that make sense? I don't know but it seems true.
I think the cynic in all of us would say 'Well there are a lot of novice collectors on Ebay and they way over pay because they still think this coin is a 15, 20, 30k+ coin like back in 2009". Maybe.
Part of the problem is that I can't find any other place where one in the package has sold except Ebay.
Curious other people's thoughts about this and maybe even other obscure coins.
I have plans....sometimes
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<< <i>For those of you who have not been on the Buy/Sell/Trade forum I am the new guy with the Cheerios Sacagawea. I've had it for awhile and looking to sell/trade. Now my question is what do you guys/gals think is the best place to sell a coin like this? Saying it is obscure is an understatement.
Now, every collector has that coin ( Or stamp. baseball card, etc) that they say over and over is super 'under-valued". I have always avoided saying things like that because I don't see the point. I think key date Morgan dollars are super under-valued but mainly because of the INSANE amount of counterfeits. (I have seen about 25-30 fake 1893s Morgans for every real one). The Cheerios Sacagawea w/ Rare Reverse is a cool coin but even a vast majority of modern US coin collectors have never heard of it.
I told this anecdote on another forum but around 2 weeks ago when I decided to sell this I called dealers near me. Maybe 3-4 even knew what I was talking about. A majority who didn't know and I then told them about it and even just reverted to saying "Are you near a computer? Google it" said I should crack it out and spend it. One dealer seemed curious and I told him the back story as he seemed genuinely interested.....he then told me it was stolen from the mint and obviously illegal to own and I should not try and sell it. (That is 100% true story).
So maybe this coin is 'under-valued'. I don't know. In talking to other collectors and dealers it does seem that this coin (in original package) seems to do way better on Ebay. Does that make sense? I don't know but it seems true.
I think the cynic in all of us would say 'Well there are a lot of novice collectors on Ebay and they way over pay because they still think this coin is a 15, 20, 30k+ coin like back in 2009". Maybe.
Part of the problem is that I can't find any other place where one in the package has sold except Ebay.
Curious other people's thoughts about this and maybe even other obscure coins. >>
I'd think that the BST forum would be the best place to discuss this if folks even want to talk about it.
Additionally, your pictures are too blurry to determine whether or not your coin actually has the pattern reverse. As such, it's a buyers market.
The name is LEE!
Also, it is impossible even with a good iphone or s5 to take a picture close enough to show the die polish. Tried and it is just not going to happen. Something you have to see in person .
Won't answer your question on selling it, but there is a lot of information on the piece.
TD
<< <i>Now my question is what do you guys/gals think is the best place to sell a coin like this? >>
#1 - Certify it.
#2 - You are correct, if certified as the Pattern Dies, it is very rare - but very esoteric as well. A small number of potential buyers. Did you ever hear of "thin markets".
#3 - I think most would agree on the forums - 80%+ of us would be sellers, probably less than 10% buyers of a coin like this.
# 4 - It will take you time to locate the right buyer. You may want to engage the help of a well known dealer that understands this coin. It will cost you a %, but you will get the greatest return.
# 5 - If you don't go with #4 - sell at a well attended auction.
I would say that when I look at auctions ones still in package (ie no graded) are WAY out selling even top pop ones at auction. Now maybe that is stupid but it is a large difference and I can't ignore that.
I was attempting to discuss more along the lines of obscure coins and the best place to sell them and about other obscure coins out there.
``https://ebay.us/m/KxolR5
As far as ebay goes, you can sell the coin there without problem. I bought my current cheerios and sold my duplicate on ebay without trouble. Of course they were both certified by PCGS. I would not have even put a raw one on my watch list.
<< <i>It is more an opinion on the market --- the BST forum seems to be more of a place to actually buy/sell/trade.
Also, it is impossible even with a good iphone or s5 to take a picture close enough to show the die polish. Tried and it is just not going to happen. Something you have to see in person . >>
This is funny, as if an iphone or s5 were real cameras! But that said, there are macro add-on lenses for the Apple and Samsung phones that will give you excellent quality close-ups.
http://macrocoins.com
<< <i>Well I already had it for sale on the "BST Forum".
I was attempting to discuss more along the lines of obscure coins and the best place to sell them and about other obscure coins out there. >>
Right.
BUT..........you can initiate a discussion without mentioning that you have the coin on the B/S/T forum. Folks aren't stupid and they'll spot it with out the self promoting.
The name is LEE!
<< <i>I think key date Morgan dollars are super under-valued >>
Which ones? Morgan Dollars are one of the most pumped-up series. The price/rarity ratio is astronomical compared to most other series.
I don't. The plastic for the package makes good pictures hard as it reflects back.
Has anybody else had one of these and had to photography the die polish? It really is not something you can just zoom in and see with even a good camera phone. It just does not show up so curious if others have had to take pictures of it and had success?
Not to be rude but to get back to topic-----is Ebay sometimes a good place to sell coins like this BECAUSE there are novice collectors that will over pay?
You seem to know a quite a bit about coins in general. That normally translates into at least enough connections to assist in selling?
Nobody you can send it to that will take a percentage and send you the rest after the sale is consummated? I wouldn't do ebay because of the shenanigans on there.
<< <i>...I don't. The plastic for the package makes good pictures hard as it reflects back.
Has anybody else had one of these and had to photography the die polish? It really is not something you can just zoom in and see with even a good camera phone. ... >>
Perhaps you were not listening...good camera phones don't have good cameras. They are OK but not able to do what you are trying to do without external help...
The reflection problem you're describing is not due to the camera but how you light the coin to take the image. Folks here take pics through plastic (slabs, 2x2s, airtights, etc) all the time without a problem. It's all in the angles of your lights vs the reflective surface.
http://macrocoins.com
<< <i>
<< <i>...I don't. The plastic for the package makes good pictures hard as it reflects back.
Has anybody else had one of these and had to photography the die polish? It really is not something you can just zoom in and see with even a good camera phone. ... >>
Perhaps you were not listening...good camera phones don't have good cameras. They are OK but not able to do what you are trying to do without external help...
The reflection problem you're describing is not due to the camera but how you light the coin to take the image. Folks here take pics through plastic (slabs, 2x2s, airtights, etc) all the time without a problem. It's all in the angles of your lights vs the reflective surface. >>
Oh I get it. I just don't have a 'camera camera' and have not for years. I honestly don't even know anybody who has a 'camera camera'. I rarely ever sell a coin so never had a need to have one.
<< <i>These must have fallen off, I remember when people were knocking themselves over to get at them. I got the cent and still have it.
You seem to know a quite a bit about coins in general. That normally translates into at least enough connections to assist in selling?
Nobody you can send it to that will take a percentage and send you the rest after the sale is consummated? I wouldn't do ebay because of the shenanigans on there. >>
Oh yeah. There was a time when you would have to TRY to sell one for less than 10k.
The hysteria cooled down quite a bit. IMO it was not so much the market fell---it just came back into reality.
PS--Ebay blows and I have no idea how anybody has the patience to deal with that BS. I remember a time when buying/selling on Ebay was super easy and after a deal you would say "Wow this Ebay thing is really cool" Now after you buy/sell something you think "What is going to go wrong this time?"
<< <i>Look up oloclip and others as they make a macro lens attachment for Iphones that will let you get very good close ups of coins. RPM is a pro and so at times forgets others are not
I didn't forget...I did suggest a macro attachment for his phone. I was just a little peeved that the OP's conclusion was since an iPhone or S5 could not take a picture of the details on a Cheerios Dollar, that it could not be done. It bugs me that cheap phone cameras are displacing real cameras. I do use my S4 all the time for casual shots, but I'm pretty aware that it is not even as good as a cheap point and shoot. But it is there in my pocket, and that's why it gets used.
http://macrocoins.com
<< <i>I bet ten years ago these things were sitting in flea market display cases next to Admiral Ackbar figures and Franklin Mint Star Trek plates with a $15 price tag on them and no takers.. >>
Person I bought it from had it in a box and had taken it around to all sorts of coin dealers---none gave him light of day. He wanted $300 for the entire box of coins---including this Cheerios Sac.
Coin dealers make me laugh a lot.
Box of 20
1) Get it certified
2) Get it certified
3) Get it certified
P.S. If you get it certified at NGC they will place a pedigree on the holder: "Because every pattern Sacagawea dollar will have its own unique story of discovery, NGC will pedigree every example submitted to us for grading. Please specify your desired pedigree on the submission form. Contact NGC customer sevice at Service@NGCcoin.com or 1-800-NGC-COIN with any questions regarding rare coin submission."