Time to sell

Ayborov · October 17, 2014 6:52AM

I was looking for some advice from you guys on what is the best way to sell a collection? Heritage, Great Collections, private sales? I have a lot of stuff I am going to be parting with (from $100,000 to $200,000 worth)
Samples of what I will be selling to better help with the advice

1968 No S 10c PCGS Pf 68 Secure 28641691
1873 closed 3 50c NGC Pf 66 cameo
1871 10c proof 67 NGC
2013 Five Star General $5 gold MS 70 PCGS (3)
1846 50c 6 over horizontal 6 NGC Au58
1875 5c Pf 66 cameo NGC
1882 3c Pf 67 Cameo PCGS CAC

Lots of mixed older, modern rarity and error.

19Lyds · October 17, 2014 7:05AM

Great Collection would be my recommendation. They have had some significant, record breaking sales generating some historic prices which have been reported by National Publications.

Ayborov · October 17, 2014 7:16AM

I've bought my entire life and have never sold a single coin! Is that strange or are some of you like that?

wondercoin · October 17, 2014 7:21AM

Send me a PM here or an email to me at mjcapc@aol.com as I am in the market for a nice quality 1968 No S dime. Perhaps we can do a deal without any third parties involved.

Wondercoin.

Barndog · October 17, 2014 7:24AM

in my experience, choosing one venue for all your items does not necessarily maximize returns. Some of your items may return the most when consigned or sold outright to specialist dealers. More generic stuff may do well with auction houses like GC or Heritage. If you have prices in mind that you want and decent photos, this forum's BST works well too

Ayborov · October 17, 2014 7:34AM

Being a new member I'm not sure that I should be posting in the BST. Is that appropriate here?

Ayborov · October 17, 2014 7:41AM

<< Send me a PM here or an email to me at mjcapc@aol.com as I am in the market for a nice quality 1968 No S dime. Perhaps we can do a deal without any third parties involved.

Wondercoin. >>

email has been sent

coindeuce · October 17, 2014 7:42AM

<< Being a new member I'm not sure that I should be posting in the BST. Is that appropriate here? >>

We all started as new members at some point. You might as well start now and gain some familiarity and credibility. Post away. A few solid numismatic references can give you a quick boost here.

Ayborov · October 17, 2014 7:58AM

Thanks, I will try and post some pics tomorrow in the BST. I will have to wait for the wife as pics aren't my thing. As far as Numismatic references, I'm really a bit of a recluse, the only dealer I've dealt with consistently is Fred Weinberg for my error coins, most of my collection has all been purchased over the years from mainly private sales.

LochNESS · October 17, 2014 8:11AM

All the really huge collections do multiple auctions, sometimes spanning multiple seasons and even years. So if you have many items, I don't see anything unusual about choosing many avenues. The downside is time. It takes more time. That's why most of the big boys choose a single auction firm to handle their multiple auction sales. Sorry if I sound like I'm contradicting myself ... I think you should explore multiple options for the different facets of your collection, as some (key dates, niche pieces?) may sell better on GreatCollections while others (like modern gold bullion?) may do better on eBay. unless you're in a hurry, in which case the answer is NONE because you never maximize profits by hurrying.

AUandAG · October 17, 2014 8:14AM

Certainly Great Collections is awesome for coins over $1,000 (I think) as there is no commission. Less than
most venues. The BST is great for all the material but there will not be buyers for it all, unless you are extremely
patient. Since you are the seller it is simple to expect to get your funds cleared before shipping the coin out.
Oh, Fred is a wonderful reference and you should ask him if you can use him as such.

I collected, never selling, for about 45 years before selling the majority of my collection. GC was not around yet,
as I recall. But, did sell a lot on the BST, and the rest on Ebay. Most of my material was under a grand with the
exception of the gold. Gold was at $750 so that will give you an idea as to when I sold! My first sale was gold
with Roadrunner on a BST deal. 11 ounces or such as I recall. We exchanged a few messages and a phone call.
That was my start....been doing the BST ever since with dozens and dozens of successful sales.

I still collect but not to the extent I used to. Retired and winding down as they say.

Good luck,
Let me know what you might have in CC's!
Turn you message function to ON under your profile.

bob

19Lyds · October 17, 2014 8:20AM

<< 

<< Send me a PM here or an email to me at mjcapc@aol.com as I am in the market for a nice quality 1968 No S dime. Perhaps we can do a deal without any third parties involved.

Wondercoin. >>

email has been sent >>

Turn on your PM Function by Going to PROFILE and "Allow Private Messages". (i.e. PM's)

19Lyds · October 17, 2014 8:32AM

<< Being a new member I'm not sure that I should be posting in the BST. Is that appropriate here? >>

It is completely appropriate although some will be skeptical.

It would be best to get a few "deals" completed successfully before the skepticism would go away.

BAJJERFAN · October 17, 2014 8:34AM

<< Being a new member I'm not sure that I should be posting in the BST. Is that appropriate here? >>

Turn on your PM function. Perhaps you could use Fred as a reference.

MsMorrisine · October 17, 2014 8:43AM

If you are going to post pictures, may as well make the first ones shown be the stuff FW sold you

Error stuff is always fun to view.

posting pictures using the tinypic.com site

Ayborov · October 17, 2014 10:14AM

Thanks so much for all the advice. I turned on Pm's for those that asked.

numisma · October 17, 2014 11:16AM

<< Great Collection would be my recommendation. They have had some significant, record breaking sales generating some historic prices which have been reported by National Publications. >>

I agree, as I have sold similar material recently with excellent results and absolutely no hassles.

AMRC · October 17, 2014 11:23AM

If you know what you would like to get for some of these, you may want to offer them on the BST board. You may also might want to offer them to dealers that specialize in some of these things. You may be surprised.

metalmeister · October 17, 2014 11:56AM

By all means use the BST with photos

ARCO · October 17, 2014 12:42PM

<< I was looking for some advice from you guys on what is the best way to sell a collection? Heritage, Great Collections, private sales? I have a lot of stuff I am going to be parting with (from $100,000 to $200,000 worth)
Samples of what I will be selling to better help with the advice

Lots of mixed older, modern rarity and error. >>

Here are my thoughts, take it for what they are worth to you.

I recommend selling in stages, not all at once. Take your time selling. Hell, you spent years/decades buying, you can take a few years selling them off smartly.

1) As a buyer, I WANT true auctions. I want to buy a coin for what the market prices dictate, not some middle-man looking to make a buck. I want market prices because when I sell, I want most of my money back (or more).
2) As a seller, true auctions (the last three or four years, suck for sellers). I know, because I am a true auction seller. Average stuff loses the true auction seller money in the short term (1-3 years) when you factor in buyer's and/or seller's fees. I am speaking in generalities here, obviously, some collectors are more adept at price/grade/scarcity arbitrage than others. You will want to balance what is best for you, with what entices other collectors.

As a seller I would first seek to sell my coins at prices I have determined to be fair to myself and at market level (research required). So, I would first place my coins on 1) consignment with a specialist in the series to get sell prices I want, or, 2) Offer my coins on venues without sellers fees: your own web site, the PCGS BST board or wherever the coins can be marketed to buyers without paying fees.

After offering my coins at fixed prices without sellers fees, I would then decide where / which venue to sell the coins that haven't sold at my desired prices that do have seller's / buyer's fees. Ebay? Heritage? Great Collections? Stacks? Etc etc.

Again, I would then take the route of an auction venue where your fixed prices can be offered. If your coins are worth the fixed prices you want, they will sell, if not, you will then have to ultimately pick an auction style venue (or coin dealer). At least you have taken the time to offer your coins to other collectors/buyers at sell prices you want. The best material will sell, the lesser stuff will languish with fixed prices. If you give yourself some time, the market place will tell you what your coins are worth so that you can sell each coin for its maximum value.

Anyway, good luck. Take your time selling. Every coin you have will sell. The trick is to maximize what the sell price will be.

Tyler

Barberian · October 17, 2014 8:10PM

<< I've bought my entire life and have never sold a single coin! Is that strange or are some of you like that? >>

I'm that way. I don't think it's healthy for me in my case. I need to rid myself of a lot of mistakes made through the years.

crypto79 · October 17, 2014 10:56PM

<< 

<< I've bought my entire life and have never sold a single coin! Is that strange or are some of you like that? >>

I'm that way. I don't think it's healthy for me in my case. I need to rid myself of a lot of mistakes made through the years. >>

I have sold most of my mistakes be they unnecessary inferior quality, not fitting in the collection or unwanted duplicate. I enjoy my collection so much more now and even timed a few of them while learning how to move coins to specific buyers and broke even or profited which also increased my enjoyment of the hobby.

If you never learn the sell side of the hobby I would consider it a larger gap in the complete picture and missed enjoyment, when done correctly that is as with anything.

Yorkshireman · October 18, 2014 12:13AM

<< 

<< 

<< I've bought my entire life and have never sold a single coin! Is that strange or are some of you like that? >>

I'm that way. I don't think it's healthy for me in my case. I need to rid myself of a lot of mistakes made through the years. >>

I have sold most of my mistakes be they unnecessary inferior quality, not fitting in the collection or unwanted duplicate. I enjoy my collection so much more now and even timed a few of them while learning how to move coins to specific buyers and broke even or profited which also increased my enjoyment of the hobby.

If you never learn the sell side of the hobby I would consider it a larger gap in the complete picture and missed enjoyment, when done correctly that is as with anything. >>

I agree with you on finding the right place to sell, Crypto.
I decided to sell a CC eagle when I decided to move in a different direction. I first offered it to the dealer from whom I bought it.
He offered his original price for which he bought the coin. I thought this was very fair, but I hoped to at least break even.
I shopped it to another dealer. His offer made me a profit. The dealers from whom I buy are all ethical, but one wanted it more than the other.
The profit certainly made the buy/sell experience much more enjoyable.

The moral of the story is learn how to sell and to whom to sell based on the specific item.

Walkerfan · October 18, 2014 12:35AM

<< I've bought my entire life and have never sold a single coin! Is that strange or are some of you like that? >>

I get great pleasure from my collection and plan to hold. The only coins that I've sold were problem coins, dreck or lower graded coins that I upgraded with better examples.

Sonorandesertrat · October 18, 2014 1:08AM

I have sold many collections that I formed since the 1970's. Selling coins is a very important part of one's numismatic learning experience, and is not the same as buying at retail. Serious mistakes can be made when selling, and it's best the learn the relevant lessons early (e.g., venues for selling, realistic pricing, value of a slab and auxiliary stickers, etc.). I have met a number of older collectors (older than me....) who did not sell until they had significant amounts of money invested in their collections. They learned tough lessons about the REAL values of what they had been buying for years, and a few lost significant portions of their retirement assets in the process.

More generally, there are at least four significant lessons IMO:
1. Don't view your collection as your retirement 'nest egg,' and don't put a huge percentage of your assets into your collection. When selling, maximizing the value of the items in your collection will usually take time. If you need money quickly and must sell your coins to raise the funds, you will likely take a hit. If the relevant niche coin market is dead when you want to sell your pieces, you may be SOL.
2. Make an effort to learn something about the business side of the hobby. Doing so will give you a more realistic view of your selling options and range of outcomes.
3. Try to maintain an objective view of what an item is worth when buying (especially at retail)---you are engaging in a business transaction---and remember that taking possession and agreeing that the sale is 'done' means that your new asset value has dropped and will take years, sometimes more than a decade, to recover. People who purchased during run-ups that occurred in the late 20th century probably are never going to get their money back.
4. For some collectors, there is never a 'time to sell.' They are in love with their coins. If your intent is also to use your collection as an investment, you have a problem. As an investor, your goal is making money, not simply enjoying a hobby. Investors need to remain detached, and sell when they sense that the value of an item is hearing its peak. In this sense, the term 'collector-investor' is an oxymoron.

TwoSides2aCoin · October 18, 2014 1:13AM

Offer it back to who sold it to you first. Every coin I sell I ask that question. "if you're going to sell, will ya give me first shot since you got it from me ? "

Only a few guys have offered to sell me coins back. A few guys , for much more than I charged them. Some I opted to buy back, some not. But, that's my advice to you.

Sonorandesertrat · October 18, 2014 1:20AM

"Offer it back to who sold it to you first."
There are times when this is a reasonable course of action. Suppose you bought a nice coin from a small-time B&M dealer? Would you offer it to him first, or approach a specialty dealer? Many dealers make chunks of their income by buying and flipping to other dealers. As a collector, do you want to leave money on the table?

ricko · October 18, 2014 3:21AM

<< I've bought my entire life and have never sold a single coin! Is that strange or are some of you like that? >>

Yep.... I am the same way.....definitely try the BST....Cheers, RickO

Time to sell

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