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Help Selling Krugerrand 21st Century Set
nyck1
Posts: 2
Hello Everyone,
I am new to the numismatic world and I am searching for help trying to navigate it. I recently inherited a few pieces from my father's very large collection and I would like to sell one piece of it specifically. That is a Krugerrand 21st Century Set, 88 of 300, that has 1999, 2000, and 2001 1oz coins. It comes in the beautiful wooden box with silver decal on the front with all the papers, etc ungraded. Now, I went to a local coin dealer here in NYC and he told me that he would only take the gold for melt value and there was no collectors value. Does this sound right? I mean I would think that there must be some collectors value for rarity, as this set was only of 300, even though the coins themselves are not.
Please let me know how I should approach the selling situation, or if you know of any dealers in the NYC area that can give me another opinion. I posted it, quite poorly I might add, to eBay: http://www.ebay.com/itm/ULTRA-...854:g:FPkAAOSwMNxXbrp2
Any thoughts?
Thanks!
I am new to the numismatic world and I am searching for help trying to navigate it. I recently inherited a few pieces from my father's very large collection and I would like to sell one piece of it specifically. That is a Krugerrand 21st Century Set, 88 of 300, that has 1999, 2000, and 2001 1oz coins. It comes in the beautiful wooden box with silver decal on the front with all the papers, etc ungraded. Now, I went to a local coin dealer here in NYC and he told me that he would only take the gold for melt value and there was no collectors value. Does this sound right? I mean I would think that there must be some collectors value for rarity, as this set was only of 300, even though the coins themselves are not.
Please let me know how I should approach the selling situation, or if you know of any dealers in the NYC area that can give me another opinion. I posted it, quite poorly I might add, to eBay: http://www.ebay.com/itm/ULTRA-...854:g:FPkAAOSwMNxXbrp2
Any thoughts?
Thanks!
0
Comments
This here is the discussion side of the World & Ancient Coins Forum- there is a separate Buy/Sell/Trade Forum.
But your solicitation of advice here is valid, and particularly since it's your first post, I doubt anyone will hiss at you or call you a spammer for posting the question here. You've come to an excellent place for advice. Many fine and experienced folks here.
My suggestion is to see what advice gets offered here, and then later, if you like, post your item for sale on the World BST forum with good pictures and maybe you'll find a buyer. It's free, too, which is nice. (However, since you're new here and it's an expensive precious metal product, be prepared to offer references to your potential buyers.)
PS- you can always get the best of both worlds by linking your eBay auction up on a post on BST- just put "eBay" in the title as a point of unwritten BST etiquette. Your eBay feedback as a seller can serve as a reference.
Unless I am missing something....and I could be, those are bullion coins that were put together in a set. No real purpose other than selling them. I don't think they have any value over melt.
I tend to agree with Becky- that looks like an aftermarket set put together by some marketing people. (This "South African Mint Company" smacks of the slick telemarkers who'd like folks to believe they're government-affiliated when they're really just private firms selling coins in fancy packaging.)
These almost certainly are not "ULTRA RARE" and while I could be wrong, I strongly doubt this is "ONE OF THE RAREST BULLION COIN SETS OFFERED." Whee did that info come from? I would avoid the use of such over-the-top hyperbole when you're a numismatic novice- it'll only get you snickered at, and such hype is a turnoff even when veteran dealers do it. (Also, ALL CAPS = shouting, in netiquette.)
It IS, however, a very nice looking set, the packaging is handsome, and you DO have a nice bit of bullion there.
(On a minor pedantic point, 1999-2000-2001 would more properly be called a "millennial" set or something like that, rather than a "21st century set", since only the 2001 is technically a 21st century coin. 1999 was of course in the 20th century, and most numerical purists will insist that the year 2000 was as well.)
PS- to address your original post regarding the dealer offer, I'd say that's pretty standard, and essentially true. Expect no more than melt from a dealer. To a collector, however, the nice packaging is a selling point.
Note that if these coins had mintages of 300 pieces, that would be something. The fact that some private aftermarket seller arbitrarily decided to create 300 sets and number them as "limited editions" is another matter. These mass-market sellers who peddle collectibles to the general public love to create artificial scarcity that way. But to give them their due, the slick packaging is nice- very nice in this particular case. Should add a few bucks beyond melt value.
And I wouldn't eBay it. Too much payment risk for little possible gain.
Doubt enough meager interest now though.
I am in marketing and am surprised that there is no value for that in this case, considering I market $50 dollar bags for $2,000. Retail and apparel is certainly a different game and I am glad to have gotten some real advice in the coin game!
I'll take their melt value.
Thanks again, everyone!
And PROOF gold for melt is always sweeter, in my opinion.
But perhaps it just doesn't apply when you're talking about three ounces of bullion, huh.
In any event, think of how much bullion has risen since the time these were issued!
If I had deeper pockets containing more than just lint and a comb, I'd be all over those for the melt value and even a few bucks more for the packaging.
I stand by my earlier comment that the nice packaging OUGHT to be worth a small premium over melt, but alas, that may not be so in the real world.
And PROOF gold for melt is always sweeter, in my opinion.
But perhaps it just doesn't apply when you're talking about three ounces of bullion, huh.
Perhaps, but where will s/he sell them?
To me, selling on eBay is too risky these days for the chance of what, a $100 premium (vs. a $4000 loss)?
I stand by my earlier comment that the nice packaging OUGHT to be worth a small premium over melt, but alas, that may not be so in the real world.
And PROOF gold for melt is always sweeter, in my opinion.
But perhaps it just doesn't apply when you're talking about three ounces of bullion, huh.
Perhaps, but where will s/he sell them?
To me, selling on eBay is too risky these days for the chance of what, a $100 premium (vs. a $4000 loss)?
Good point. Local dealer sounds like the way to go, or BST here (no fees that way).
^^^ Me, too. Curious thing when I saw the individual COAs, 1999 lists 200 mintage yet collection mintage is 300. How can they have 300 when there are only 200 1999's?
I'm not sure this is accurate but the below figures are for the proof 1999 and 2000 Kruggerands.
2,787 and 3,188respectively.
^^^ Me, too. Curious thing when I saw the individual COAs, 1999 lists 200 mintage yet collection mintage is 300. How can they have 300 when there are only 200 1999's?
I'm not sure this is accurate but the below figures are for the proof 1999 and 2000 Kruggerands.
2,787 and 3,188respectively.
Ha! I guess you can't depend on those COA figures.
Amat Colligendo Focum
Top 10 • FOR SALE
Nobody wants them. Nobody collects them. They were beautiful flowers, but it didn't matter. Demand is what sets the price, not supply.