Wholesale value of coins - Opinion Needed
Coins101
Posts: 2,602 ✭✭✭
Well, I have a question to the dealers on here on establishing a value of my coins. Unfortunately, my wife of 27 years has decided she would rather retire alone than as a couple. And of course, she has set her eyes on my coins. Fortunately, I don’t have a huge, expensive collection (all certified modern coins) as it was more of a hobby. But, her attorney wants me to document their value. Being out here in the sticks, I don’t really have access to a coin dealer other than pawn shops. So, I thought I would use the PCGS price guide but discount it as these are selling prices rather the price you, as a dealer, would pay (wholesale) should I walking in your front door.
What do you think would be a reasonable discount? I am thinking 10 to20% of the PCGS price. I figure if they push for the “retail” PCGS value, I will slide them over to her side of the division. Any help will be greatly appreciated.
What do you think would be a reasonable discount? I am thinking 10 to20% of the PCGS price. I figure if they push for the “retail” PCGS value, I will slide them over to her side of the division. Any help will be greatly appreciated.
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sorry to hear the sad news
I find the PCGS price guide to be a little...all over the map?....compared to real experience. And assuming a single "wholesale discount" for ALL types of coins seems a bit dangerous....
You might be better off using what is more accepted as the "Wholesale Guide".
The Coin Dealer's Newsletter will sell you a current issue for something like $5.00. Small investment for a resource that is completely independent, and widely accepted.
Link
(I haven't actually held one in awhile, so someone else might want to comment on how expansive the coverage is. Do they list all of the most recent issues? Don't know).
PCGS price guide is every bit of retail for >80% of the US coin market. Price guide is generally wholesale + 50% added. Hence dealers might typically pay 65% of price guide if they can use the item or have a place to go to flip them. No way would I ever pay 80-90% of price guide for every day US coins you see all over the local coin show bourse floor.
<< <i>pcgs retail can sometimes be 50% to 100% to high. Contact a modern specialist to help you.
sorry to hear the sad news >>
Thank joebb21. If there are any "modern specialist" will to take a look at a list (obviously you would have to qualify your opinion as you are not looking at the actual coins), I would be willing to pay you for your time if you are willing to put your appraisal on your official letterhead. It is only a couple pages long. Most everything else I have can be valued at the bullion buy price (ASE & bars).
Let me know.
BobH
<< <i>.... If they come at you with PCGS retail, have her pay you half that amount and give her the coins... >>
I like that idea. You might be getting around 77% of wholesale this way.
Wondercoin
Interesting question you pose.
Lots of issues to consider and address.
I assume that your wife had little interest in your collection during your marriage and that her interest (and her lawyer's interest) in the collection at this point in time stems from one or more of the following:
a. the fact that through the divorce property settlement is on the table and both spouse must decide how to fairly split the assets that they have accumulated during the marriage (which involves placing a value on same before the property is split); and/or
b. a desire on the part of one spouse to get revenge on the other spouse by making it difficult or impossible for the other spouse to keep something that they value (a coin collection in your case).
Coin collections have different values, including:
1. Above full retail (i.e. prices charged by coin TV shopping shows) sold to a mass, uneducated audience
2. Full retail (prices charged by dealers to buying customers who are typically not collectors or are newbie collectors);
3. Wholesale prices (prices at which dealers will sell to other dealers or to select customers who are experienced collectors who provide them with repeat business);
4. Lower than wholesale prices at which dealers will buy from other dealers or from select customers who are experienced collectors who provide them with repeat business;
5. Lower than lower wholesale prices at which dealers will buy from general public; and
6. Insultingly low if not criminally low prices at which bottom feeders will buy from completely uneducated and unsophisticated members of the general public.
There are also pricing levels for insurance coverage valuations, pricing levels for estate planning purposes and tax planning purposes and pricing levels for borrowing/lending purposes. There are pricing levels for a quick sale in one bulk lot and pricing levels for a piece by piece sale of the collection spread over a long period of time. These valuations may be different from 1-6 above.
If you want to keep the collection then the lower the price assigned to same is to your benefit.
If you have no strong desire to keep the collection and your wife is eager to see that you do not get to keep the collection, then portray to her and to her attorney that she would be wise to take the entire collection. If she does so, then also portray to her and to her attorney that the value of the collection is full retail (or as close to full retail as you can get). If you can do this, then it will be to your benefit when the property settlement is worked out.
Good luck.
The attorney would probably argue for an appraisal by an expert in which case I'd prepare a list and see what some members of the board would be willing to pay you sight unseen. Recognizing you'd need to pay them for their time as in your ideal case you'd not actually be selling them.
<< <i>In this situation, get the value from the pawn shop. If they come at you with PCGS retail, have her pay you half that amount and give her the coins... >>
that's the advice I would follow!
<< <i>
<< <i>In this situation, get the value from the pawn shop. If they come at you with PCGS retail, have her pay you half that amount and give her the coins... >>
that's the advice I would follow! >>
That's exactly what I was thinking, too.
They have a list of all the coins and bullion. I did tell her attorney if they get an appraisal to be sure it is for the buy price and to include a check for the whole lot. In other words, put their money where their mouth is.
Well, I will see what I can get locally.
Thanks again.
You should always have a chunk of stuff that the spouse doesn't know a thing about. In my experience when your wife /girlfriend significant other decides they want to go they have been thinking about it for awhile and you are then forced to react to them much more quickly than would be ideal . If things cool off at some point its time to start socking away a secret stash that they don't know about.
Bullion is great for that a few rolls of 1/10 ounce AGE's dont take up a lot of space and are easy to liquidate quietly
Forum Moderator or powers that be, please delete this thread and all the comments.
Thanks!!!
<< <i>In this situation, get the value from the pawn shop. If they come at you with PCGS retail, have her pay you half that amount and give her the coins... >>
<< <i>
<< <i>In this situation, get the value from the pawn shop. If they come at you with PCGS retail, have her pay you half that amount and give her the coins... >>
I agree with this, If that doesn't work and they are all moderns that you are not really attached to, do what I would do: Crack them out, buy a few packs of gum, and give her the empty slabs.
<< <i>Well, gum is out as they are all Modern silver or gold coins.
That stinks!
That would give you the current market value.
The PCGS price guide is usually way high on moderns. Like a PR70DCAM dime will list $250 but sell for about $20 on eBay.
<< <i>I'd use eBays [Advanced Search] and select the Sold listings box.
That would give you the current market value.
The PCGS price guide is usually way high on moderns. Like a PR70DCAM dime will list $250 but sell for about $20 on eBay. >>
But then I would have to explain all the fees, etc and that would be like trying to explain it to a box of rock!
If she takes the coin she is either going to take them to a shop and sell them and will get nowhere near retail. I would be surprised if she even gets 50% on cupro nickel non bullion value coins try 10-25%. Otherwise she is going to blow them out on the bay starting the bidding at 99c and let them rip for whatever.
If she would give me 70-80% of the PCGS value of the coins in a divorce settlement I would give it to her in a heartbeat, take the cash and get a new condo saving some for a Sugar Baby. Then she can find out how tough it is to get all the money on these and I would laugh a lot.
As far as what I pay for mods offered to me at a show you really don't want to know. Not much interest over BV. Have bought deals of mods at 20% of retail and still can't sell them - modern cents, nickels, cupro nickel. A coin shop near me pays 97% of melt as the refiner pays them 98%. So not much incentive to offer more than that. Get the picture?
Its all relative to what you have. Does she have an inventory list? I would take out the good stuff and bury it and leave her the crap. "Here honey its all yours to put on your side of the ledger and this is a nice neat list of their PCGS current market value based on my registry inventory at their website." If its a no fault state "Had some nicer ones but liquidated it all on girls."
If a low ball number is in your best interests I guess you could go to a shop or two and pay them for a "low ball appraisal" to use as documentation for liquidation value.
<< <i>Thanks everyone for your input and thoughts on this matter. We are not near a settlement and we are in the asset valuation phase. Of course, everything she thinks I should have a high value and everything she wants is pretty much worthless, in her head anyways.
They have a list of all the coins and bullion. I did tell her attorney if they get an appraisal to be sure it is for the buy price and to include a check for the whole lot. In other words, put their money where their mouth is.
Well, I will see what I can get locally.
Thanks again. >>
Tell them to get a buy price and let you decide how to proceed (they sell and you get half, or you pay your soon to be ex half and keep them). Then you can decide what you think of the offer, but it will be an offer they come up with so there is no finger pointing about it.
Great transactions with oih82w8, JasonGaming, Moose1913.
Great transactions with oih82w8, JasonGaming, Moose1913.