Card guy with coins questions

ghooper33 · July 12, 2014 12:35AM

Hello all - sorry if the answers are posted elsewhere, but my father has about 20 pre-1932 gold coins he is looking to sell and I have some questions about the best way to sell them.

Note: The purpose of my post is not to sell, but rather for me to understand the coin environment.

1) Is it worth it to grade the coins regardless of the grade before we sell?
2) Is there a trusted coin cosigner (similar to Probstien123 for cards)?
3) With all of their flaws, eBay and other auction houses are the best medium to sell sports cards - is this the same for coins?

Thanks everyone!

telephoto1 · July 12, 2014 1:04AM

It would help to know what exactly you have so that we can offer appropriate advice. There are a lot of variables...and there is enough experience on these boards to be able to give you a fair idea if anything's worth submitting or not.

As far as your specific questions-
1) Frankly it all depends on scarcity and quality. Something heavily circulated that is a common date-no, not worth slabbing as it will just be worth melt value or very little over.
2) There are several trustworthy dealers who can help you in that regard; I'll let others give you their recommendations.
3) With eBay, again it depends on what you have but gold tends to do fairly well for the most part. That said you need to remember that you will be paying both final value and PayPal fees, plus there is a possibility of fraud.

You might consider taking them to a reputable local dealer in your area for an in-hand opinion of value and go from there. If there are scarcer date and/or higher grade pieces then you might consider having them slabbed, but if it's common stuff not worth much more than melt, then an outright sale might end up netting you more than you'd get via eBay or consignment.

Hope this helped.

Patches · July 12, 2014 1:06AM

Checkout Great Collections. Ian has low consignment fees and a good following. I believe he'll handle the grading for a fee as well.

BaronVonBaugh · July 12, 2014 1:33AM

<< Checkout Great Collections. Ian has low consignment fees and a good following. I believe he'll handle the grading for a fee as well. >>

ricko · July 12, 2014 2:17AM

I vote for Great Collections as well...Cheers, RickO

lostincoins · July 12, 2014 2:18AM

You could start with a list of dates and mint marks and someone could tell you things to look for but pics would be very helpful.

csdot · July 12, 2014 2:49AM

I think I've seen your question on other coin sites, but Lostincoins' post is spot on. A list of what you have with a description or photo will get you a better response. For example, if your pre-33 coins are common date and common condition like1924-28 Saints, 1904 $20 Liberties or 1926 or 1932 $10 Eagles, then you are looking at getting gold value. However, if you have some of the rarer years and/or conditions, then maybe you can a little more for the numismatic premium.

ghooper33 · July 12, 2014 2:55AM

Thank you all for the replies! Once I get the coins in hand I will need to scan them anyways. I have a list of the coins but much like cards I understand condition is the key. I am familiar with Heritage but I will check out Great Collections.

*Edited to remove coin list until I see the coins

bronco2078 · July 12, 2014 3:05AM

It seems like there may be a few typos in that list , I'm referring to the 1908 1912 and 1913 3$ gold which don't exist

ghooper33 · July 12, 2014 3:14AM

<< It seems like there may be a few typos in that list , I'm referring to the 1908 1912 and 1913 3$ gold which don't exist >>

Very well could be - I am going to remove the list because I haven't seen them yet. Once I get them I may try the BST and then use Great Collections for the rest because I am not I could describe the attributes correctly.

lostincoins · July 12, 2014 3:35AM

even on the BST pics will be needed. Post them here first befor you list them for sale so you do not break the rules then if you have something special you will at least know other wise gold value is what you will get.

Zug · July 12, 2014 4:42AM

I will give one more vote for great collections.

Ian is very easy to work with, quick answers to questions, fast payment, and will give you an honest opinion on having your raw coins graded, or if they should also be sent to CAC.

Jeff

AUandAG · July 12, 2014 4:46AM

Scans do nothing for coin....got to be pics.

I too recommend Great Collections when it comes time to sell any good stuff.

I just sold a coin at just over $10,000 at GC and my fee was under 1%. Yes, less than $100 total.

bob

ghooper33 · July 12, 2014 5:57AM

Great Collections is closed today but this will probably be the route we go to sell.

Out of couriousity why would a photo be better than a scan to pick up the condition of the coin?

Thanks again everyone!

lostincoins · July 12, 2014 6:11AM

A scan washes out the coins luster and other characteristics because of the harshness of the light.

ghooper33 · July 12, 2014 6:23AM

<< A scan washes out the coins luster and other characteristics because of the harshness of the light. >>

Gotcha - that make sense.

giantsfan20 · July 12, 2014 9:37PM

Since its your fathers he should know best what the value and if any of them command a premium or not

Check out the pcgs grading pictures online to determine grade and for general value Price Guide

kaz · July 12, 2014 10:08PM

FYI: to sell the coins on Great Collections they will need to be encapsulated by one of the top TPG's, I believe. (preferably our host).

OPA · July 12, 2014 11:12PM

For common date, non certified coins, eBay - even with the fees, is still the best venue. If you adhere to eBay and PayPal's guidelines you should not have any issues.

telephoto1 · July 14, 2014 8:27AM

Let's wait until he has the stuff in hand and can speak accurately as to what's involved.
If it ends up being common stuff in used condition it probably isn't worth tacking slab fees onto auction fees unless there is a concern it might be fake...

ghooper33 · July 14, 2014 11:41AM

I don't think any of the coins are fake, but that being said I don't know where my father got them. I should have coins in hand tomorrow and I would be happy to share pictures - I am hoping Great Collections will help with the submissions (if needed) and the eventual sale.

My worry about about selling on eBay is that I would mis-represent the coin's condition.

originalisbest · July 14, 2014 2:47PM

Good luck with your sale. There are many people here who can offer free, but valuable advice, and great collections will be a trustworthy way to get your $ value for them.

SoCalBigMark · July 14, 2014 3:36PM

<< FYI: to sell the coins on Great Collections they will need to be encapsulated by one of the top TPG's, I believe. (preferably our host). >>

They will do that for you.

ghooper33 · July 19, 2014 3:50AM

Thanks again for the reference to Great Collections - they are going to advise which are worthy to grade and sell on their auction site and the rest I will probably just sell on eBay.

I did get some scans and whats a post without some pics!
(for anyone who cares I have the rest of the scans hereLink to Photobucket

Enjoy!

Amigo · July 19, 2014 4:24AM

For common date, non certified coins, eBay - even with the fees, is still the best venue. If you adhere to eBay and PayPal's guidelines you should not have any issues.

I've never consigned coins for Ebay, but something that I haven't seen overtly posted from one of the Coin Consignors is something that will probably hit you out of no where.
I suspect at the end of year, you'll be getting a 1099
Ebay has something like a 20k threshold, but a consignor will have to 1099 you for any smaller amout so that they can deduct it from the 1099 Ebay gives them.

Yeah, Yeah, Yeah, pay your taxes and all that good sh - -. Just sayin, be prepared and take that into consideration. The other thing is ...... By the time you take Ebay fees, paypal, consignors 1099, then you're pretty much paying the same fees you'd get from Heritage to maximize any sales without having to deal with the Ebay cons.

Edit to ad ........ ahhh, never mind.

ghooper33 · September 17, 2014 11:55AM

Quick update - I sent in six coins to Great Collections and received these grades:

Line # Item # Cert # PCGS No. CoinDate Denomination Variety Country Grade
1 1 30617341 7570 1870-S G$1 USA Genuine - AU Details (84 - Holed and/or Plugged)
2 1 30617342 7558 1861 G$1 USA AU58
3 1 30617343 7969 1854 $3 USA Genuine - VF Details (95 - Scratch)
4 1 30617344 8884 1932 $10 USA AU58
5 1 30617345 8985 1878 $20 USA AU55
6 1 30617346 9002 1884-S $20 USA Genuine - AU Details (98 - Damage)

I am glad I got these graded - I would have never caught the coin that had a hole and was plugged. I am not sure how to interpret the genuine grades (reading about them now) but I assume the plugged grade is the kiss of death for coins.

NumisOxide · September 17, 2014 12:08PM

<< Quick update - I sent in six coins to Great Collections and received these grades:

Line # Item # Cert # PCGS No. CoinDate Denomination Variety Country Grade
1 1 30617341 7570 1870-S G$1 USA Genuine - AU Details (84 - Holed and/or Plugged)
2 1 30617342 7558 1861 G$1 USA AU58
3 1 30617343 7969 1854 $3 USA Genuine - VF Details (95 - Scratch)
4 1 30617344 8884 1932 $10 USA AU58
5 1 30617345 8985 1878 $20 USA AU55
6 1 30617346 9002 1884-S $20 USA Genuine - AU Details (98 - Damage)

I am glad I got these graded - I would have never caught the coin that had a hole and was plugged. I am not sure how to interpret the genuine grades (reading about them now) but I assume the plugged grade is the kiss of death for coins. >>

Not bad!

coppercoins · September 18, 2014 11:55PM

"Genuine" grading simply means they could not grade the coin (for whatever reason), but the coin is a genuine coin. Reasons for not grading include (but are not limited to) damage, cleaning, tooling marks on the coin, etc.

lostincoins · September 19, 2014 3:51PM

Nice set of coins and some will not mind the plugged hole if they need it as it will be more affordable.

Card guy with coins questions

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