How do you dispose of your very low value coins?

291fifth · September 3, 2015 11:27PM

Think:

Low grade, common date Indian cents, low grade, common date Buffalo nickels and the like.

Is it actually possible to sell this type of material for more than the full costs involved in the sale?

sparky64 · September 3, 2015 11:41PM

I see that type of material at Mom & Pop rural auctions.

I'm often surprised at how well it goes for and often I wished I consigned a batch.

The auctioneer fees run about 10% of the hammer for the seller.

TigersFan2 · September 3, 2015 11:41PM

1. Group it together in a larger Ebay sale.

2. Give it to a nephew/niece or friend's child to interest them in coin collecting.

TwoSides2aCoin · September 3, 2015 11:45PM

Pocket pièces don't just freak people out, some merchants will actually purchase the coin you're using to pay your sales tax with at face value, by pulling a coin out of their own pocket to put in the register, instead of putting them in the till where "regular money" goes.

It's all about the "disposition".

How I look at coins makes others look at them.

COALPORTER · September 4, 2015 1:33AM

14495 Posts and you're still at this point ?

ajaan · September 4, 2015 1:38AM

I donate them to the Kid's Coins Club sponsored by the Buffalo Numismatic Association. They are then given to young collectors.

DeepCoin · September 4, 2015 1:45AM

I sell them in groups, for example 5 or 6 barber quarters, six circulated common walkers, start at $0.99 no reserve and let the market sell them. It is about not overpaying IMHO. Everything can be sold for a price. I just hate to see old coins get melted, even if common barber dates, well used.

roadrunner · September 4, 2015 1:48AM

I never get them in the first place. I tried year ago to try and buy "little" collections for fair money from whoever I could. Never got a single one. No longer even bother. The public would generally rather sell to a "trusted" dealer for literally peanuts or just keep them.

stevepk · September 4, 2015 1:50AM

I often see material like this at pawn shops or flea markets. A common example might be a 1902 Indian Head cent in VG-8 in a small bag with a $29.95 price tag, or even better yet, how about a price sticker adhered directly to the coin? I often see this on Morgan Dollars and Peace Dollars. That's right; a polished 1921 Morgan silver dollar with a $69.95 price sticker directly on Liberty's cheek!

If it works for pawn dealers and antique shop owners, why can't it work for the rest of us? All we need is a buyer with a double-digit IQ who never questions anything and assumes all sales are fair.

Honestly, I don't know what thoughts cross the minds of these people.

Coin Finder · September 4, 2015 1:51AM

I give them away at coin shows to kids....

AnkurJ · September 4, 2015 1:52AM

<< <i>I give them away at coin shows to kids.... >>

Same here. They always get a kick out of them.

joebb21 · September 4, 2015 2:01AM

Give away or save up.

Look up upstate. I know they buy both

LindeDad · September 4, 2015 2:09AM

<< <i>14495 Posts and you're still at this point ? >>

WaterSport · September 4, 2015 2:13AM

I have a box and when the stuff accumulates, I send it off for free to the Dana Point High School coin club and let them do as they please with it. Or, it goes back in to circulation.

WS

SamByrd · September 4, 2015 2:25AM

I have seen lots on the BST with the material the OP describes and it sells. List it very reasonable and add in a small or medium flat rate box and set a price shipped.

List with your terms clear and a few images , there are many that buy this type of material.

joeykoins · September 4, 2015 2:44AM

I don't sell mine, it's not really worth it at such a low price or even a face value price. I for one just will hold on to it and hope for the best or in the end, give away to kids or a new collector. Right now these common or some unwanted coins will make a good conversation piece.

BillJones · September 4, 2015 2:44AM

I've sold some of them at my local club monthly auction. You open them up at a fairly low price and see what happens. Sometimes I get slightly less than I might have liked, but often I do pretty well.

At any rate I always do better than I would at my local B&M store. As a dealer told me years ago, for low value coins, a lot of the price in a "service charge" just to holder and price them in two by twos (not slabs), and very little value is in the coin itself.

TigersFan2 · September 4, 2015 4:19AM

I often see material like this at pawn shops or flea markets. A common example might be a 1902 Indian Head cent in VG-8 in a small bag with a $29.95 price tag, or even better yet, how about a price sticker adhered directly to the coin? I often see this on Morgan Dollars and Peace Dollars. That's right; a polished 1921 Morgan silver dollar with a $69.95 price sticker directly on Liberty's cheek!

Isn't that the truth!!! I've never seen a coin at an antique store that isn't way over-priced and poorly displayed. I think the target audience are people who know nothing about coins but have a grandchild that collects coins so they decide to get something as a gift. Or it's the nostalgia as some older person sees the $29.95 common date Buffalo nickel and thinks "I haven't seen one of those in a long time" and buys it without caring about the true value.

On a similar note, those television shopping networks price everything 2-3x the rightful value and hype the heck out of everything. But someone must be buying their coins and eventually learning of the true value years later. Bad for the coin collecting business as it breeds distrust in the coin market. Awhile back I was flipping through the channels and stopped and watched the hype on one of the shopping channels. I did a Google search on the guy doing the shilling and found he's a well-known person in the coin business. Very disappointed because the second anyone decides to host one of the shopping networks' coin shows, the person in my eyes loses all credibility. They misrepresent so much on these shopping networks and I feel bad for whoever is buying the coins because they could get the same coin from a reputable dealer for probably half the cost.

ColonelJessup · September 4, 2015 5:39AM

Covina Coins - Leroy Lenhart

Good as gold. I'd send him $50,000 of undamaged crap AG or better and know I'll get a check in 6 weeks. Look in Coin World buying ads.

JJSingleton · September 4, 2015 6:56AM

Standard fare in our local coin club auction. Make opening bid a buck and let them run.

jdimmick · September 4, 2015 8:32AM

I have a guy that comes by every Thursday and buys all my:

wheats, Lincoln memorial coppers, dateless buffalo's, regular buffalos, v nickels , indian cents, proof and mint sets that are close to face value and foreign coins

then I have a guy (actually 2) that come and buy all my common run of the mill morgans and peace $.

every so often I will sell a hodge pot lot of coins on ebay

and everytime we have a coin club meeting/auction , I unload a ton of junk

Cougar1978 · September 4, 2015 8:37AM

I usually give them away to kids at shows.

TopographicOceans · September 4, 2015 8:57AM

Spend 'em, give them away or Sell 'em

winky · September 4, 2015 10:00AM

I gave mine to a friend that collected them, altho all of mine were MS dimes but I had fun doing it and made me feel Good.

Walkerfan · September 4, 2015 10:45AM

I have a dealer that I trust that buys 'everything'. If it is worth little more than face/melt/a few bucks/etc. I give them to YNs/kids.

braddick · September 4, 2015 3:00PM

I remember a couple of decades ago there was a buyer out of CoinAge that offered to purchase anything and everything coin related. I'd send him junk that had accumulated and sure enough, three or so weeks later would be a check
along with an explanation why the check wasn't for much (usually right around $50. to $150.). After a few what I would call successful transactions (I never returned the uncashed check whereas then the dealer would have been required
to ship back the coins- the deal he made within his ad- he abruptly told me to stop sending him the leftovers and stuff I was.

I was a little embarrassed for a day or so yet yes- did get over it.

Elcontador · September 4, 2015 5:02PM

As a kid, I acquired a number of rolls of G 4 common date IHCs. I sat on them for decades, got an issue of Coin World, and took them to a local shop. He gave me Coin World roll pricing on these coins, which I traded in for a MS 65 RD 1909 P in a PC 5 OGH. Still have it, and yes, it's still RD.

rmpsrpms · September 5, 2015 12:59AM

I put them in my Dad's 1929 Nickel Slot machine. It has a jackpot cache with clear glass so you can see the buffalos just waiting for you to win the jackpot.

Mission16 · September 5, 2015 7:54AM

I wait until I get a sizable amount and sell them as bulk lots.

CoinZip · September 5, 2015 8:10AM

99¢ No Reserve ....... see link below....

How do you dispose of your very low value coins?

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