Bad time to sell some of my collection?

Raybo · March 17, 2017 4:02PM

My "major" coin show of the year is coming up (Central States) and I want to sell part of my collection to fund another part.
Bad idea or would it just be a wash?
If you need to know the particulars just let me know .

Justacommeman · March 17, 2017 4:05PM

Who knows in two years it might be worse

Good luck!!

mark

shorecoll · March 17, 2017 4:30PM

I think it completely depends on the series and grades you want to sell.

amwldcoin · March 17, 2017 4:32PM

@MANOFCOINS said:
Probably will be. Pops are killing the prices

The time is coming where you will need to differentiate old vrs. new holders. I know it has been done in the past....but it is the worst I have ever seen in my nitch....Barber Half's in mid grades. Coins are being graded now that would never straight grade a couple of years ago.

Raybo · March 17, 2017 4:45PM

@Justacommeman said:
Who knows in two years it might be worse

Good luck!!

mark

Central States is in about 5 weeks so your advice is a little post mature.
Just wondering (spoiler alert!) if I should sell my 34-47 MS Walker set to fund my true passion, a copper series.

Thanks as always,
Ray

Justacommeman · March 17, 2017 4:58PM

@Raybo said:

@Justacommeman said:
Who knows in two years it might be worse

Good luck!!

mark

Central States is in about 5 weeks so your advice is a little post mature.
Just wondering (spoiler alert!) if I should sell my 34-47 MS Walker set to fund my true passion, a copper series.

Thanks as always,
Ray

Yep. Prices in five weeks might be better then they will be in one, two or three years.

FYI if you take a betting on your Walker set for example you should be able to buy your coopers at reduced prices as well. I say go for it

M

Raybo · March 17, 2017 5:50PM

I'll let the cat out of the bag, I want to sell my Walkers to upgrade my 2 Cent pieces....OK I said it!
I know the 2 Cent haters out there, but I like them along with all of the other coppers, AND they are bigger for my old eyes.

I would like to upgrade my 1867 DDO from a PCGS 55 and my 1872 in a PCGS 50 holder to both be MS 63ish, also need a 1873 closed 3 proof. This is my goal and I would like to do it in one fell swoop. Not likely to happen but I can dream.

Coinstartled · March 17, 2017 6:20PM

@MANOFCOINS said:
Prices Probably will be lower in 2 years. Pops are killing the prices

I dunno, I look at modern gold and bimetal commems. Prices have sunk and grade is not an issue. Same with all types of classic gold premiums at the modest grades. Common Morgans and Peace Dollars again where grade is not much of an issue (MS63-64) are in the toilet. Same with lower grade classic silver proofs. Prices went poofski.

DollarAfterDollar · March 17, 2017 6:51PM

Walkers in MS 65 and MS 66 are really in the sh**er. You might consider arming yourself with Gray Sheet bid values and trade rather than sell to buy. Also, auctioning your coins might be a better option.

abcde12345 · March 17, 2017 6:51PM

The worse time would be around 3:00 AM. Almost everyone is sleeping.

cameonut2011 · March 17, 2017 6:53PM

@Raybo said:
My "major" coin show of the year is coming up (Central States) and I want to sell part of my collection to fund another part.
Bad idea or would it just be a wash?
If you need to know the particulars just let me know .

Knowing the particulars would help. My personal philosophy is that as long as you don't auction the pieces and/or sell at fire sale prices, then why not take a shot? Just make sure that you stay in control of the coins and pricing or consign them to a dealer. I think no reserve auctions are risky in many series if you don't want to take a bath.

bolivarshagnasty · March 17, 2017 6:55PM

@Raybo said:

@Justacommeman said:
Who knows in two years it might be worse

Good luck!!

mark

Central States is in about 5 weeks so your advice is a little post mature.
Just wondering (spoiler alert!) if I should sell my 34-47 MS Walker set to fund my true passion, a copper series.

Thanks as always,
Ray

I should mention that at a recent TN State show I witnessed a number of cases with large numbers of Walkers. Lots of early PCGS holders. Flashy coins. I don't follow the series, has there been some collections sell recently? I would be concerned about a glut if I were selling. Having said that, not sure how one would quantify what I think I saw.

Raybo · March 17, 2017 6:57PM

I'm not really seeing any good advice so far.
I have been "doing" my Walker set for the last 20+ years and have some really nice coins that I think would upgrade. I know the 41-47 set is a dime a dozen ( I have picked out coins with nice strikes), seen stacks of them at shows, but with the 34-40 some are pretty hard to find in higher grades, and I have also picked out the coins that have nice strikes that would command some kind of premium.
I'm not being prejudice, just honest.
Maybe I should hold on to them?

Thanks again.
Ray

cameonut2011 · March 17, 2017 6:59PM

Why not throw the coins up on the BST and test the waters?

Raybo · March 17, 2017 7:15PM

@cameonut2011 said:
Why not throw the coins up on the BST and test the waters?

My camera and copy stand have been in my closet for years.
I should just get an appraisal from a local B&M dealer and go from there.

Thanks again,
Ray

SamByrd · March 17, 2017 7:28PM

Since you know what you want. Why not take the Walkers to a show and ask a few dealers if they want to make a deal , as mentioned already and it was sage advice , trades may be in your best interest.

kaz · March 17, 2017 7:30PM

You could send the coins to one of the members here who photographs coins. Quality photos of nice coins = good sale prices on the BST.

1630Boston · March 17, 2017 7:43PM

Best of luck to you.
Follow your passion and do not look at it as an 'investment' money making machine.
If you can afford to sell them and buy something else that makes you happy..........do it.
JMO

roadrunner · March 17, 2017 7:48PM

@Raybo said:
I'll let the cat out of the bag, I want to sell my Walkers to upgrade my 2 Cent pieces....OK I said it!
I know the 2 Cent haters out there, but I like them along with all of the other coppers, AND they are bigger for my old eyes.

I would like to upgrade my 1867 DDO from a PCGS 55 and my 1872 in a PCGS 50 holder to both be MS 63ish, also need a 1873 closed 3 proof. This is my goal and I would like to do it in one fell swoop. Not likely to happen but I can dream.

I don't hate 2 centers. I actually like them. Your 2 key dates are in perfect, prime collector range. Why go for an "upgrade" to the MS63 level where more speculators come into play? I think in the longer term the sets that have more viability are essentially finest known/pop top sets or ideal collector range sets (VF-AU). Just my 2c.

AMRC · March 17, 2017 8:05PM

Can someone show me some examples of the declines? Are we referring to Grey Sheet? Auctions? PCGS Price guide? etc?

http://www.pcgs.com/prices/pricechanges.aspx

291fifth · March 17, 2017 8:10PM

When it comes time to sell the ONLY prices of any importance are actual cash sale prices, not prices from any "sheets" or individuals claiming to pay "top dollar." Unless your material is exceptional the results of a sale are probably going to disappoint you today and disappoint you even more a couple of years down the road.

Bochiman · March 17, 2017 8:13PM

@kaz said:
You could send the coins to one of the members here who photographs coins. Quality photos of nice coins = good sale prices on the BST.

He said what I was going to type. If you have ~ 2 months, I would contact someone like Messydesk (John) and get them photographed and up on the BST at what you think is a fair price to you. Some won't likely sell, but you could still end up better off selling the hotter ones and then lowering the price on any that are "more common"
(I am not a walker collector, so I know nothing particular about the series)

Azurescens · March 17, 2017 8:28PM

@DollarAfterDollar said:
Walkers in MS 65 and MS 66 are really in the sh**er. You might consider arming yourself with Gray Sheet bid values and trade rather than sell to buy. Also, auctioning your coins might be a better option.

I tried to sell some 20s-30s walkers in AU-MS64 today. (You think 65-66 is bad?)

Some early 30s quarters ms63-66. Key cents nicks dimes. AU-63 Morgans from good dates to fine specimens. My FBL Franklin halves I got offered next to nothing. Kind "old" dude let me look at gray sheets. This market is in the toilet.

TBH, if I had coins like you guys do, I'd wait until the metals people make more money to spend on coins and it will be worth it again.

The past 5 years, I've been trading my numismatic value for metals. I'm gonna make a pretty solid guess here and say I'm not the only one who did this.

Some shield and liberty nicks, and 1/2/3 cent pieces that I got offered 35-50 bucks for a few years ago I got offered 2 to 6 dollars each today (which was much better than the last guy).

He wasn't even interested in 40-45 grade SLQ's. The worst? He's the most honest and best paying dealer in our area. I can't say I blame him.

OP, I'd hang onto what you've got for your kids or grandkids, and build a new set without selling your treasures. Third dealer now that said this hobby is slowly fading to what stamps began doing 25 years ago. A slow death. You know it's bad when you're buying that someone tells you it's headed for a free fall.

I can only hope they go back up by the time my nephew needs them. I can go camp for 3 days and pick morels and make more money than what my poor man's collection is worth. I've never been offered so little, but the guy was honest and he's had both sides of family business going back 3 generations. I don't even want to talk about my barber halves. I'm honestly taken aback. My 50-D MSFBL65, best offer I got was 9 bucks after talking him up from 5. My 1939 unopened roll of mercury dimes, or my full type set grades 40-55.. breaks my heart. Even now with 3 guys of the older generations at different locales saying they're glad to be in their twilight years because coins are.

I don't even know how much I'll even get back into this hobby in a few years. Maybe by then all my faves will be cheap, but by then you guys will have lost tens of thousands of dollars.

In a way I saw this coming. I should've just bit the bullet and sold it 5 years ago, but made the mistake of piecing it out. I don't mean to paint an unnecessarily grim picture of something a majority of you know a lot better than me, but I've never had coin dealers so despondent before.

Good luck in your journey OP, I do truly wish you the best of luck. As much as you love 2c pieces, I think now is the wrong time to get rid of your treasures. Random piece sets like mine no big deal but with people losing thousands or tens of thousands in their registry sets.. just makes me sad.

My 2c. For what it's worth.

Tl;dr: I doubt many coins below 65 will be worth much in the coming years.

WDP · March 17, 2017 8:30PM

@Raybo posted, "I'll let the cat out of the bag, I want to sell my Walkers to upgrade my 2 Cent pieces....OK I said it!
I know the 2 Cent haters out there, but I like them along with all of the other coppers, AND they are bigger for my old eyes."

What's wrong with Two Cent pieces? I collect them by the roll. Not really.... But I do have one from this roll!

....

......

Azurescens · March 17, 2017 8:36PM

And sorry, *a lot better than I.

I can't edit posts without them dropping.

roadrunner · March 17, 2017 8:55PM

@Azurescens said:

Tl;dr: I doubt many coins below 65 will be worth much in the coming years.

In many series, the quality collector coins in Good-AU might be the ones holding on to their value better than those in grades of MS65-MS67.

Raybo · March 17, 2017 9:30PM

@roadrunner said:

@Azurescens said:

Tl;dr: I doubt many coins below 65 will be worth much in the coming years.

In many series, the quality collector coins in Good-AU might be the ones holding on to their value better than those in grades of MS65-MS67.

Wish I was still on the Good-AU bandwagon, I got lost somewhere down the line.

Raybo · March 17, 2017 9:40PM

@roadrunner said:

@Raybo said:
I'll let the cat out of the bag, I want to sell my Walkers to upgrade my 2 Cent pieces....OK I said it!
I know the 2 Cent haters out there, but I like them along with all of the other coppers, AND they are bigger for my old eyes.

I would like to upgrade my 1867 DDO from a PCGS 55 and my 1872 in a PCGS 50 holder to both be MS 63ish, also need a 1873 closed 3 proof. This is my goal and I would like to do it in one fell swoop. Not likely to happen but I can dream.

I don't hate 2 centers. I actually like them. Your 2 key dates are in perfect, prime collector range. Why go for an "upgrade" to the MS63 level where more speculators come into play? I think in the longer term the sets that have more viability are essentially finest known/pop top sets or ideal collector range sets (VF-AU). Just my 2c.

All of my other 2 Cent pieces are MS 63-64 and I want a matching set Mr. RR!
I'm not out for the best obviously, just want them to match more or less.

Raybo · March 17, 2017 9:43PM

@WDP said:
@Raybo posted, "I'll let the cat out of the bag, I want to sell my Walkers to upgrade my 2 Cent pieces....OK I said it!
I know the 2 Cent haters out there, but I like them along with all of the other coppers, AND they are bigger for my old eyes."

What's wrong with Two Cent pieces? I collect them by the roll. Not really.... But I do have one from this roll!

....

......

Nice roll of.......1872's?

Azurescens · March 17, 2017 9:44PM

I will love large cents until the end of time. I wish you luck on your journey, and good vibes to you and all the folks you come across, @Raybo.

topstuf · March 17, 2017 10:18PM

If we're afraid to buy, the show is over.

pennyannie · March 17, 2017 11:17PM

You are mistaken, the market is great. I got slammed by a few dealers for saying it is in the cheaper. Personally I would keep your good coins and just buy what you want. But that said I'd make darn sure what you buy is what you want. To be honest it's just not coins in the toilet

pennyannie · March 17, 2017 11:23PM

Lower your offers to buy also

oih82w8 · March 18, 2017 3:51AM

It has been said previously, but I would think that selling individually would bring better overall prices than as a grouping. Nothing wrong with 2C pieces...if done in moderation. I recently cherried me a...whoops...almost let it out of the bag.

jonruns · March 18, 2017 4:42AM

Prices you get when you sell depend upon the coins and the series....the H and H collection of Civil War gold sold out in less than a day at what I considered to be high prices...

I think the best advice given is to find a dealer who has what you want and do a trade...

topstuf · March 18, 2017 5:46AM

And.....On the bright side. Eventually the sun will go "red giant" and envelop everything and burn it all up.

joeykoins · March 18, 2017 7:34AM

I dunno? I might be the wrong person to take advice from? I just eliminated just about my whole collection in the past few months and cashed in! because I decided not to collect (keep in prison) all my coins anymore. I'll exclusively be only Cherry picking from now on. Yes, I can't wait either for the up and coming Central States Show!-joey

shorecoll · March 18, 2017 7:50AM

Ray, fyi a few years ago I sold a 2c set through Heritage. I had two old holder 62s that both went 65 when they resubmitted them, so check out the old holders and find some lower tier unloved ones.

Azure, the stuff you described sounds like stuff that would move on the BST, for way better than you were offered.

I'm collecting bust halves right now and I'm not finding these falling prices people keep talking about, even in VF-XF.

shorecoll · March 18, 2017 8:01AM

As to the sheer volume of stuff that's out there. We had an old-timey big dealer in our town, who was wealthy before he became a dealer and who was also a hard money guy. I met him on his way down when he was selling stuff he couldn't physically move anymore. He had thousands of BAGS of Morgans, and I'm guessing much was bought at face. I'm sure that stuff was distributed throughout the country and it's still here (although it may have gotten melted). You need a lot of collectors to absorb that stuff. Just how much stuff of all types was out there like that? We had a storekeeper in our town who sold $100k face in one batch during the Hunt run-up, all of it came in over the counter at his store.

topstuf · March 18, 2017 9:16AM

FWIW.... I got a "feeling" several months ago.
(Okay, stronger than a "feeling" but...)
Anyhow one day while looking through my coins, I noted that there were about a third of them that I would lift out of the box, glance at, and drop back into the slot.

"So" sez me to me..."Why do you keep stuff you aren't thrilled to own?"

Which led to some self flagellation and ....THEN.... to pulling the group and sending to auction.

I don't regret it.

My ....NEW.... stuff_ (no, I can't kick the habit)_ is all scarce to uber cool (personal opinion only) and my ...old.... habit of buying simply because I don't HAVE one has gone away.

An "attitude adjustment" followed and I have gone to considering ONLY the ...pleasure.... I get from whatever I toss money at. Age is a factor as are heirs that aren't close or knowledgeable but at this point, I am buying to LOOK AT...and ENJOY.......

And regard them as I would new cars.
There's ALWAYS some residual value and even if they depreciate, they are fun to drive.

WDP · March 18, 2017 9:24AM

@Raybo posted, Nice roll of.......1872's?

Thanks @Raybo. All of the Two Cent pieces in the roll are 1864 Large Motto coins. This photo will make it a little easier to tell what is in the roll.

.....

Photo courtesy of W. David Perkins
.....

oih82w8 · March 18, 2017 9:28AM

@WDP said:
@Raybo posted, Nice roll of.......1872's?

Thanks @Raybo. All of the Two Cent pieces in the roll are 1864 Large Motto coins. This photo will make it a little easier to tell what is in the roll.

.....

Photo courtesy of W. David Perkins
.....

I like the red one!

AMRC · March 18, 2017 1:50PM

Kewl

Wabbit2313 · March 18, 2017 2:30PM

@shorecoll said:
He had thousands of BAGS of Morgans,

Are we really supposed to believe someone had MILLIONS of Morgan dollars? (On the scope of a GSA sale for instance?)

I would think he would have had his own name on that deal since Redfield didn't have anywhere near Thousands of bags. He had just over 400. They also weighed 11 tons. So your guy would have more than 55 tons if it was ONLY 2000 bags. You say Thousands of bags.

Sorry, not believing it!

Cougar1978 · March 18, 2017 2:50PM

The key thing is what do you want for your coins relative to CDN. If your willing to take 80% of CDN Bid then you may want to take them to the show and shop them around. Sadly many have unrealistic ideas of what they can get for their coins as they were never active on the other side of the ball.

If you want to sell coins to move into another area why not take out an ebay store? Put them in there at your price and see what happens. Is it a good time to sell - no.

I have been buying a lot of slabbed material from walkup traffic from my table at shows at 80-90% CDN Bid for items I have a need for. Many, facing high FIT payments, looking to sell. I would say its a buyers market. My offer / bid is based on current market conditions and inventory needs.

Azurescens · March 18, 2017 2:58PM

Agreed - it's a fantastic time to buy.

Raybo · March 18, 2017 3:19PM

Thanks for all of the advice, obviously I have been more on the buying end than selling.
I have sold quite a few coins in the past (years ago), mostly my type stuff that looked like it would take for ever to complete and actually did quite good, made more than I paid for them.
I don't really need to sell the Walkers BUT if I keep them the rest of the coins that I don't have will haunt me, and that would be cost prohibitive,
Where can I get a hold of a grey sheet?

Thanks again,
Ray

Raybo · March 18, 2017 3:51PM

@topstuf said:
And.....On the bright side. Eventually the sun will go "red giant" and envelop everything and burn it all up.

/\ This!

Walkerfan · March 18, 2017 4:04PM

Ray--The Walker market is polarized. Generic MS 65-67s have come way down, while better dates and condition rarities are still doing okay. So, keep this in mind if/when you decide to sell your set, now.

shorecoll · March 18, 2017 7:40PM

I obviously can't show you millions of coins and I can't swear they were ever there, but the vaults they were in are still there. This was a different day and age and most small banks have gotten rid of the jumbo vaults they used to need. There's one bank building in our town where you could park a car in the vault if you could get it through the front door.

Think if you had $20MM in the bank and you were a hard money guy, having $5-7MM in physical silver is not outrageous. He was not "allowed" to keep it in gold (although he did have that too). Look at the pictures of racks upon racks (millions) of double eagles in Swiss bank vaults and say it isn't possible.

There was also no point in anyone knowing he had it. He had no need to pump it like the Redfield estate. It was also spread to 15 or 20 banks, so each bank had people who knew he had a lot, but didn't necessarily know about the others.

crazyhounddog · March 18, 2017 10:58PM

If your not in a hurry I found that the fall and winter months tend to be a better time to sell. During the spring and summer people tend to spend their money out and about or on summer toys. No worries. Our hobby will always stand on its own. After all it the greatest hobby in the world

Bad time to sell some of my collection?

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