You have coins to sell at a major show-where do you go, and how do you fare?

TahoeDale

It is seldom that I do business with dealers on the sale of my coins. But sometimes I do--lessons learned:

Know the dealer's inventory and specialty, as well as the approximate budgets they work with-many of the good dealers do not buy expensive coins for
inventory, but will take the coin on memo-with a net to the owner after a sale to the next buyer. A sale for an immediate check is not rare, depending on the amount.

I know of only 3 dealers who will really pay a premium for the special coin-pq for grade, scarce or rare, always PCGS graded, sometimes only when stickered. But I go to them with
that special coin, and may have to give terms( price over 50K). With only a few that can handle this type of coin, auction is usually the best place for a rarity.

So, what coins in what series are easy to sell on the floor?

Toned CBH's in grades from AU 50 to MS 65. Many dealers have multiple clients looking for these coins. And price history is very accurate, lots of information available.

Proof type in 63 or better--almost all series. Again, pricing is within known ranges. Trade dollars, Seated dollars and halves, All Barbers.

Keys dates for lib nickels, mercury dimes, SLQ's, Walkers.

One more thing--if you have made friends with other collectors of your main series, there is always a sale that can be discussed. I usually indicate before the show
that I will be bringing duplicates.

mdwoods

It really depends on the coin and how hot the market is for that series. I've done well on some coins and poorly on others selling to dealers at major shows.

breakdown

This is good information, Dale. Although my experience is a lot less extensive than yours, a lot of what you mention sounds right. I would also mention that it is often a good idea to start with the dealer you bought the particular coin from. It can be quite educational.

AnkurJ

<< <i>This is good information, Dale. Although my experience is a lot less extensive than yours, a lot of what you mention sounds right. I would also mention that it is often a good idea to start with the dealer you bought the particular coin from. It can be quite educational. >>



I recently sold a coin back to the dealer from whom it was purchased two years ago. It was sold for a decent profit to boot!
Like it or not, cacd material is not difficult to sell, even at premium pricing. I walk the floor and ask as many dealers as I can if they're buying. You'd be surprised how often someone you've never dealt with is a strong buyer.

Lakesammman

Good advice.

My situation is atypical - I sell to Boiler78 and he sells to me.

Boosibri

My experiences have been focused on my specialty and with only a few dealers with generally good results. If for some reason those specialists aren't interested, the market thins considerably.

PCGS/CAC adds tons of liquidity. If the coin isn't CAC'd it often is presumed guilty of failing to sticker.

TommyType

Last show I was at, there was a dealer I'm not familiar with near the door. And he asked rather loudly of everyone who passed by, "Got anything to sell?"

Now, I don't begrudge him his buying opportunities. It is, after all, half of the business. But I was left wondering, as a few people got in line for their "chance" to sell, if he was REALLY the guy you wanted to go to? I didn't get close enough to see what he was buying, or what he was offering. But his inventory didn't look all that interesting, even by my standards.

I agree with the suggestion that you should sell to the guy who has inventory most closely matching what you are selling. If the buyer needs to sell to the next dealer, either because what he bought was "too high end", or "too low end" for his inventory, then he's obviously leaving room in his buy price to make a profit in the NEXT transaction.

I sold once at a Long Beach show about 8 or 10 years ago. (I was convinced that CC Morgan's couldn't POSSIBLY go any higher....yeah, I'm a genius). Sold to John McIntosh, who I had dealt with in the past, who I probably bought a few of these from, and who deals in Morgans. I think I did OK....well, for the time frame. In reality, I should have hung onto them completely. For what it's worth, he didn't seem to buy my theory that they weren't going any higher, either.