Selling a single 4-figure coin, best way?
CoinPhysicist
Posts: 603 ✭✭✭✭
I have a single 4-figure (less than $5000, more than $2500) early half dollar that I've owned for about a year. It's a low-R6 variety. I haven't sold a coin of this value before. I've done eBay for 3-figure coins. When I bought this particular coin, I did not plan on re-selling it for at least a few years. But you know how you have your eye on 1 coin for a certain date that have wanted to get your hands on and you never know when it will be for sale? Of course with my luck, that opportunity came a few months after I bought the first coin, so now it is a duplicate. I don't mind holding it as the other one is a different variety so I'm not desperate to sell it, but I am open to the idea of selling it.
That being said, who would you contact about the potential to sell this coin? Great collections seems to be a favorite and as it is over $1000, there would be no seller fee. Any thoughts on DLRC? I think HA would kill on fees. The one thing I hadn't really considered (and that I am most looking for forum member wisdom on) because I don't know much about it is dealer consignment. Are there any dealers that consign that specialize in early halves?
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
Comments
PM sent
R6, find the right specialized dealer with the right clients..........
I would send the coin to Ian at Great Collections. No seller fee on a coin of that value, 10% buyer fee. With $1 start price it is only a couple bucks to list.
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GC
Certainly Great Collections over GFRC.
NO doubt about it Great Collections is the way to go!
Can you tell us a little more? What is the grade and is it a CAC?
I had a successful transaction with a coin in a similar price range by listing it here on CU. No fees, I was fortunate to have an offer by a respected member. It was easy to negotiate terms and it was much faster than any other method.
I would recommend trying it. The member would get a 10+% discount from what another venue would cost and you would get the same as another place. That 10-20% makes it a lot easier to sell IMHO.
http://www.silverstocker.com
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Sheridan Downey
Liberty: Parent of Science & Industry
Don't take the first offer someone throws at you. Try Great Collections.
EAC 6024
Why not list it here on the BST? If it’s a nice coin, you’ll retail it OK.
This was my first thought as well.
Agreed, for an R6 early half, he’d be my first call.
Thank you for the responses everyone. This is exactly why I asked here. I will be looking into Sheridan. I will also consider great collections. The other option in the top 3 would be listing here/eBay which might be a possibility. My only fear with eBay is that if I list it too high and it sits there, it would get stale and if I list it too low, well obviously I listed it too low.
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
I’d be reluctant to send a coin to a dealer I don’t have a relationship with. I wouldn’t expect a dealer to make a firm commitment on a 4 figure coin without looking at it unless it’s CAC. Once the coin is in the dealers possession you are in a position of weakness. If it were my coin I’d send it to GC.
You can always send it to GC later. You have total control of price on eBay.
The problem with any auction (GC, Heritage) is that you either have to set a reserve (and usually pay for the privilege) or risk it disappointing on sale price. I see this on GC all the time in certain segments of the market. I buy coins almost weekly on GC that I resell on eBay for more in the sectors I monitor. On the other hand, I also see coins on GC with ridiculously high reserves that sit there and get no bids.
I cannot speak to that specific sector on GC since I don't monitor it that closely.
I suppose that is a good point about eBay. If I go the eBay/BST route, can I use the trueviews that the coin has and photos that the seller took when I bought it?
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
The seller photos might be a copyright issue, though you can ask for permission. The Truviews you should be able to use.
The seller photos might be a copyright issue, though you can ask for permission. The Truviews you should be able to use.
@jmlanzaf
How much does EBay charge for a BIN if seller doesn’t have a store?
@skier07 I see 10% (maximum fee $750**) for the final value fee. https://www.ebay.com/help/selling/fees-credits-invoices/selling-fees?id=4364#section2
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
Start with the BST.
Choice Numismatics www.ChoiceCoin.com
CN eBay
All of my collection is in a safe deposit box!
Sell at a big Show.
Plenty of knowledgeable dealers looking for higher-end inventory.
No fees. Cash paid on-the-spot.
Or you might get lucky selling at a local Show.
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
Start with this.
https://finalfeecalc.com/
Do your math and see if eBay will work for you. It has the most "eyes" of any venue.
Also gauge your motivation to sell whatever it is.
post the coin maybe some one here could make a offer
I forgot that paypal takes a cut too, well I didn't forgot but I didn't factor it into the calculus. Without an eBay store, that's a 13% total fee. With eBay store, it's 9% total. That's barely less than GC.
I think what I may probably do (since I'm not desperate to sell for any cash I can get - it is a different variety at the very least) is post it on the BST and see what happens. If at some point I become more motivated to sell it, I will go either with Ian at GC or with Sheridan and for that I will have to talk to both and see which makes more sense. And in the meantime maybe I can take it around a coin show, although that may be difficult as I'll be traveling for the next Long Beach.
Thanks for the wisdom of the forum, that's exactly why I asked here. You can expect to see a BST listing from me at some point.
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
If you are able to attend a big show, walk it around the show.
Even if you don't sell it, you'll get a good idea of how dealers value the coin, which will still be useful if you try to sell it via another route.
Complete Set of Chopmarked Trade Dollars
Carson City Silver Dollars Complete 1870-1893http://www.pcgs.com/setregistry/showcase.aspx?sc=2722"
If the coin is expensive enough, it would pay to get a store for a month. It's only like $20 and saves you 4%.
I've sold four figure coins on the BST many times with no issues at all. Just trust your buyer.
That's what my PM said
Sine qua non - CAC approval adds a dramatic premium on a coin like this in the 1000-5000 range. Just being identified as a wholesome "circ", whether CAC is the market-maker of choice (and LOL very likely not), makes it's application mandatory. A lot of the specialists have their own opinions, but, as the seller, you're entitled to "goose" them a bit whether or not" they" think the bean relevant.
I've had consistently better luck with Sheridan's specialists than with either GC or HA, both of with which I do more business in broader areas. Do some more variety research in Heritage Archives. R-6 is worth an hour online and a call or two. Your own due diligence on the rarity and quality of the coin is the best way to understand what others might think. This will be worth a lot more to you that the last 5% an ethical seller makes selling into a premier boutique market.
Keep an eye out for reduced final value fee offers from ebay. If you are a semi-active buyer/seller without a store they occasionally send offers to "sell any item for $20 final value fee". You still have to pay the PayPal fee of 3% but $20 on a expensive coin is cheaper than anywhere.
this is the best advice.
edit: i've seen $10 offers quite frequently
Minor Variety Trade dollar's with chop marks set:
More Than It's Chopped Up To Be
If you know what you need to get for your coin, try the BST first---it's free and you have nothing to lose. If you don't make a sale, you can always try other venues.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Figure what you'd like it to close at on GC (inclusive of buyer's fee), then offer it on BST for 5 or 8% back of that. You come out a few bucks ahead, somebody here gets a good deal, win-win all around. The only limitation is that this is a fairly small audience. Sometimes the buyer just isn't here, even though a great coin is offered at a great price. I've seen it happen. But start here. I could be sold tomorrow.
Just FYI to all who gave me advice about a year ago. Thank you for the advice. I know I waited a long time before acting, but I just listed the coin on the BST if you want to see what it actually is - it's an O-106 1794 Half Dollar.
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.