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How easy is it to sell coins to a dealer at a coin show?

jessewvujessewvu Posts: 5,065 ✭✭✭✭✭

Say I took 100 Pcgs graded coins with an average retail price of $500 each, could I sell them all for close to their current value?

Comments

  • GluggoGluggo Posts: 3,566 ✭✭✭✭✭

    I am going to guess if its someone like me you could get their current value but a dealer? I am guessing they are going to go 20 to 25% below retail.

  • WalkerfanWalkerfan Posts: 9,444 ✭✭✭✭✭

    I can usually do this but I really need to shop it around. Some dealers pay more as their needs and preferences are different.

    Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍

    My Full Walker Registry Set (1916-1947):

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • mvs7mvs7 Posts: 1,662 ✭✭✭✭✭

    Dealers are in general buying to resell. It is unrealistic to take generic coins to a dealer and expect to get full retail. Something like rare date CACed gold is another matter, but in general you can expect to have the dealer be 20-30% below retail for things that will move easily (like @Gluggo said)... less for things that will not, such as non-rare moderns. Also, not all dealers will be interested in all coins. If I have a coin that I know dealer X specializes in, I will take it there first (similar to what @Walkerfan is suggesting). Sell what you can, and don't forget GreatCollections as a potential solution, too.

  • Wabbit2313Wabbit2313 Posts: 7,268 ✭✭✭✭✭

    Rule of thumb from my recent experiences. Non CAC PCGS, about 10%-15% back of Greysheet bid. You can get full bid with CAC. If you are selling Morgan or Peace dollars, they have to be white coins.

    There will always be exceptions to the above, and if any of you dealers are paying more than the above, let me know, and I'll stop at your table next time!

  • oih82w8oih82w8 Posts: 12,340 ✭✭✭✭✭
    edited March 11, 2018 9:55PM

    I did pretty good at Irving this past Friday, but I had nowhere near 100 coins...just 8...sold 5...bought 3...brought back some moolah for other upgrades.

    It really depends on what you are trying to sell. Selling in quantity normally does not do as well as individual sales...your mileage will vary on your expectations, haggling skills and the market for such coins you plan on selling.

    oih82w8 = Oh I Hate To Wait _defectus patientia_aka...Dr. Defecto - Curator of RMO's

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  • CoinPhysicistCoinPhysicist Posts: 601 ✭✭✭✭

    Hahahahaha. No.

    Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.

  • jmlanzafjmlanzaf Posts: 35,080 ✭✭✭✭✭

    You can always get "current value" from some dealer at any show. But, as others have said, I'm not sure "current value" is what you think it is. Everything has a wholesale price - that's current value when selling to a dealer.

    Contrary to popular opinion, if you are moving a lot of coins, you'll do better with dealers than collectors as most dealers will pay wholesale for most coins. Collectors are a lot more discriminating and generally are only interested in what they want to add to their collection. You'll have to shop to a LOT of collectors to move anything at close to full retail. Even then, for widgets that have a 20% wholesale/retail spread, why does a collector want to pay you the same price they could pay to a dealer?

    If you want close to retail, you'll need to shop to collectors - and a LOT of them. If you want to move them quickly, dealers are your best bet. You can shop to dealers but expect full wholesale, not retail. For things like MS65 Morgan/Peace $s, that number is fairly consistent. If you are shopping MS68 or 69 or even 70 moderns - well, good luck on a lot of that stuff.

  • TreashuntTreashunt Posts: 6,747 ✭✭✭✭✭

    define: current value?

    Frank

    BHNC #203

  • DNADaveDNADave Posts: 7,279 ✭✭✭✭✭

    You'll get more consensus on the grade of coin here than you will on the value, and that's saying a lot.

    To the question: My experience has been that you'll be offered back of grey sheet for the best of the 100, and passes on the rest.

    I did better by buying a $100 table at a small show or two and selling there.

  • jesbrokenjesbroken Posts: 10,094 ✭✭✭✭✭

    knowledge is power. Knowing who to sell a particular group of coins to, knowing the true value of your group of coins(doing research), being willing to negotiate as to a particular coins demand, and be willing to walk if price not reasonable even when taking into account the dealer must make a profit. Many, many dealers are interested in a select grouping of coins.


    When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln

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  • logger7logger7 Posts: 8,631 ✭✭✭✭✭

    It would have to be a major dealer at a major show who have enough money to spend; they can still be picky, make low offers on coins that may not have a lot of eye appeal or will be hard to sell. I know a lot of the smaller shows or even longstanding local shops that will buy as cheaply as they can. I see new coins in their inventory that were bought at 30% and more below what they will sell them at. They will always argue they have a big overhead, the market is slow, or that they have "nowhere to go with them".

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    It is easy to sell if price is not your objective....Collectors will usually pay more than dealers, that is common sense due to required profit levels for dealers to stay in business. What ever your definition of 'current value' may be, it likely is not the same definition as a potential buyer. Good luck, Cheers, RickO

  • BillJonesBillJones Posts: 34,239 ✭✭✭✭✭

    "How easy is it to sell coins to a dealer at a show?"

    It's not easy. First you have to show up with coins that the dealer needs for his inventory. That usually means nice stuff, and a lot of what some collectors bring to a show to sell are the dregs that they have tried to sell time and time again. Most collectors are not out trying to sell their best coins unless they are leaving the hobby.

    Second, you have to know what the dealers' interests and specialties are. For example if a dealer has a case full of large cents, and not much of anything else, chances are he is not going to want your Silver Eagles unless he can buy them cheap and flip them quickly. A sellers needs to know the market.

    Third, you have to have realistic prices. A previous poster mentioned 30%. That is not a terrible mark-up, especially on material that does not sell that quickly. Ideally you might expect to get 10 to 20 percent below the dealer’s selling prices, but that can be tough.

    Finally some dealers have the attitude that they should by everything from the public cheap. That’s a shame because it limits what others dealers might see at a show.

    I wish I could expand on this, but I’ve got an appointment.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,444 ✭✭✭✭✭
    edited March 12, 2018 6:01AM

    Where there’s a will... there’s a way. Five boxes of 20 = one backpack full ( with room for mustard )

  • jessewvujessewvu Posts: 5,065 ✭✭✭✭✭

    Thanks for the response. I have several gold buffs, UHR, error coins, and some gold sets from 2008. I have several ungraded dan Carr coins also.

    I was just looking for a delta from whatbwoyld be considered current value. If it’s 10% less on avagerage for example. It’s about 2 hours to Baltimore and I didn’t want to drive all that way if my expectations were way off base or selling is generally hard.

    All my stuff is modern

  • CCGGGCCGGG Posts: 1,267 ✭✭✭✭✭
    edited March 12, 2018 3:05PM

    I've never had a problem selling my coins at a show. PCGS and NGC stuff is easy to sell at (or near) current GS prices. The majority of dealers I deal with will pay current GS less maybe 5 to 10%, but it's not hard to find those who will pay full GS. In my experience, coins graded/slabbed by "others" will almost always bring less, sometimes a lot less. Some dealers just won't buy slabbed coins unless it's PCGS or NGC. Even then they want CAC stickers too for premium pricing. Raw coins are a little harder unless you are just selling for melt.

  • Coin FinderCoin Finder Posts: 7,238 ✭✭✭✭✭

    Not likely you will get what you want on everything.. But if you do this:

    Wait until the end of the show when the dealers have some money and be careful, make sure you have someone walk out with you to the car...

  • Cougar1978Cougar1978 Posts: 8,388 ✭✭✭✭✭
    edited March 12, 2018 11:55AM

    Your probably looking at 50-60 pct retail. At last show I was setup at a major dealer was selling slabbed coins at 95pct cdn.

    So unless your a seller at 80-90 pct cdn or less your blowing in the wind especially considering current market conditions. Otherwise one should take a table at shows / open online store.

    If u paid big bucks on a big ticket coin say 50 pct above bid your really in a pickle lol.

    Or u can start them on the bay around
    Bluesheet and c what happens.

    Playing the sell side of the ball is just as as important as the buy side.

    Coins & Currency
  • bestdaybestday Posts: 4,239 ✭✭✭✭

    all depends what are cins > @lkeigwin said:

    I have rarely had trouble selling coins to dealers at shows. It's pretty easy if you aren't hung up on price.

    But I've had plenty of instances where we (the dealer and I) couldn't agree. I always say thanks before I walk away. Sometimes I'm called back. The rest of the time I reevaluate. I can be too optimistic.
    Lance.

    Deaers> @ricko said:

    It is easy to sell if price is not your objective....Collectors will usually pay more than dealers, that is common sense due to required profit levels for dealers to stay in business. What ever your definition of 'current value' may be, it likely is not the same definition as a potential buyer. Good luck, Cheers, RickO

    Right on there Ricko...No !! dealers will not buy 15-25 % less than retail ....LOL.... figure 25- 40 % back of bid :p:p:p:p

  • david3142david3142 Posts: 3,560 ✭✭✭✭✭

    If you are selling coins whose value is predominantly bullion then you should be able to do much better than the spreads given above. Your coins trade in a narrow range and are easy to price. Offer them on the BST and call up a local coin dealer. No need to go to Baltimore.

  • au58au58 Posts: 1,288 ✭✭✭

    If you really have a $50K deal, do some pre-positioning. Find out who handles stuff like yours and make some calls before you get to the show.
    If it is all modern and slabbed and bullion like, make a list and send the list to a few dealers who make that market.
    If you just walk into the show cold, your expectations likely will not be realized.

  • Insider2Insider2 Posts: 14,452 ✭✭✭✭✭
    edited March 12, 2018 12:06PM

    For a Simple answer to the OP's question, I like to use "Troll's >:) Formula" below:

    Depends on your coin + depends on the dealer + depends on your asking price + depends on market conditions = easy sale/difficult sale/no sale. B)

  • astroratastrorat Posts: 9,221 ✭✭✭✭✭

    @mvs7 said:
    Dealers are in general buying to resell. It is unrealistic to take generic coins to a dealer and expect to get full retail.

    It's unrealistic to expect to sell any coin to a dealer for full retail. What dealer survives by paying retail and then selling for retail?

    If a dealer pays you a "retail" price for a coin ... then you misjudged the retail price.

    It's easy to sell coins at a show to dealers ... very easy. It's far more difficult to sell coins to a dealer at a show for the price you may want to receive, however.

    Numismatist Ordinaire
    See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
  • Insider2Insider2 Posts: 14,452 ✭✭✭✭✭

    Just a side note. As a collector long ago in a strong market I have paid over full retail for a few coins and flipped each of them for a profit within a month. Dealers have also bought coins from me at full retail because I had no clue what they were actually worth at wholesale!

    Again, the COIN is the most important part of "Troll's >:) Formula.

  • mvs7mvs7 Posts: 1,662 ✭✭✭✭✭

    @astrorat said:

    @mvs7 said:
    Dealers are in general buying to resell. It is unrealistic to take generic coins to a dealer and expect to get full retail.

    It's unrealistic to expect to sell any coin to a dealer for full retail. What dealer survives by paying retail and then selling for retail?

    If a dealer pays you a "retail" price for a coin ... then you misjudged the retail price.

    Well, sure. What I meant is that if you have a "generic" holdered coin, like say a 1947-S 10c in MS65, you cannot expect to get "retail" - and I was not defining what that was - average of auction prices, Greysheet ask, PCGS price guide value, whatever. On the other hand, if you have something NOT generic... like I recently sold an 1879-S $2.50 PCGS AU55/CAC and I expected to get (and did get) more than AU55 price guide value for it, because these are hard to find nice and very hard to find with CAC approval.

    It's easy to sell coins at a show to dealers ... very easy. It's far more difficult to sell coins to a dealer at a show for the price you may want to receive, however.

    Totally agree with this last point. You have to go armed with pricing info, auction results, etc., to justify your selling price. If a seller is unprepared with that research, a fleecing is extremely possible.

  • Cougar1978Cougar1978 Posts: 8,388 ✭✭✭✭✭
    edited March 12, 2018 1:44PM

    If the dealer is buying very easy but it will be at his price. If it’s not really a deal for him then no go.

    If I offer 85 pct bid on the item (not a bad offer) for example then they take or pass I don’t care about what they think about it and if they try beg, plead, argue then they need to leave. Of course cc offer more.

    I have them offer me slabbed mods at 60 pct TPG retail - that’s not a deal for me. I might counter st 30-50 pct retail. Of course Gold mods pay melt or sometimes a tad more. If they offer me vintage coins to me at 95 pct bid that’s probably not a deal for me either. I can get them lower from other sources.

    Coins & Currency
  • Wabbit2313Wabbit2313 Posts: 7,268 ✭✭✭✭✭

    @Cougar1978 said:
    If the dealer is buying very easy but it will be at his price. If it’s not really a deal for him then no go.

    If I offer 85 pct bid on the item (not a bad offer) for example then they take or pass I don’t care about what they think about it and if they try beg, plead, argue then they need to leave. Of course cc offer more.

    I have them offer me slabbed mods at 60 pct TPG retail - that’s not a deal for me. I might counter st 30-50 pct retail. Of course Gold mods pay melt or sometimes a tad more. If they offer me vintage coins to me at 95 pct bid that’s probably not a deal for me either. I can get them lower from other sources.

    Are you at all the shows buying?

  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭

    @jessewvu said:
    Thanks for the response. I have several gold buffs, UHR, error coins, and some gold sets from 2008. I have several ungraded dan Carr coins also.

    I was just looking for a delta from whatbwoyld be considered current value. If it’s 10% less on avagerage for example. It’s about 2 hours to Baltimore and I didn’t want to drive all that way if my expectations were way off base or selling is generally hard.

    All my stuff is modern

    This is very niche stuff. For the moderns you will have to go to a modern guy. For the Carr stuff a Carr guy. The error stuff an error guy. Otherwise you will be disappointed

    m

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • jessewvujessewvu Posts: 5,065 ✭✭✭✭✭

    Thank you all again again for the responses. I knew it was sort of an open ended question, I just haven't ever considered taking coins to a show vice other avenues for sale. I think I have the information I'm looking for. To the BST I shall go! :D

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