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Best way to liquidate?
crj256
Posts: 25 ✭
I inherited a few hundred 1964 kennedy halves, a couple dozen assorted morgans and liberties and such. The Kennedy halves are in wrappers, which came from the bank in 1964…. I’m currently sorting and looking for any unusual stuff. The rest are all circulated
I want to liquidate the whole thing.
I don’t have time pressure. I’m more interested in getting fair value.
What method would you all recommend?
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List them on this forums Buy Sell & Trade forum and see what happens
If you have a coin shop near you, take them there and get an offer. Mailing coins is not cheap and it may be better selling them local.
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
The only trouble with a coin shop is that you only get 50-60% of value.
I think the OP is looking to sell for more than that.
Unlikely a coin shop is going to give 50-60% of value for 1964 halves and Morgan Dollars. If so, go to a different shop.
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
None of the coin shops around me play that game. Call around. They will be at most $1 difference on what they pay depending on how much they currently have in stock. Don’t deal with the shipping. It’s expensive and the buyer may end up playing games with you. You don’t need the headaches.
I believe the silver half dollars will be easy to sell on the Buy Sell Trade Forum here. As of today silver value is about $13 each. Maybe a bit more if the rolls are UNC. How fast they sell will depend on the price you set and the shipping terms. The circulated coins will not be as easy to sell. They will take time to search and come up with a value of each coin. You might find something cool in the group.
If you have nice clear images, the folks here may be able to help with the values. Not sure what the "liberties and such" are. Don't know what you have there.
I have always lived in or near a major city with several coin dealers. If you do, there is often one dealer that the rest sell to. If you can find out (coin club members know) that's your best choice. Obviously, it's tougher to sell if there is no competition.
Many paint with a broad brush when talking about coin shops, but call around and you'll likely find someone fair to deal with. Keep in mind, dealers are swimming in that type of stuff right now, premiums are lower than ever and some refineries aren't even taking silver right now, so expectations should be in the realm of melt or less depending on some variables. They don't want to put out 5k and spend a couple hours to make $60 either, but you should be able to tell pretty quickly if they won't quote you over the phone if you're able tell them specifically what you're looking to sell. Say "I was hoping to get a quote for ___ number of 1964 50c, ___ number of 40%, ___ number of Morgans". They'll offer much less if you don't specify, I get calls where people say "What do you pay for ___" and the answer is always "That depends, how may are there?". Many times the answer is "Im not sure", or "two"...
Either that, or try the BST on here and you should be able to find a buyer easily if priced fairly. You may have to ship first, but if you can verify that they're established member with good references you shouldn’t have any problems. Finding a local dealer will probably be faster and less of a headache. If you tell us what general region you’re in, we might be able to point you in the right direction.
Like I said, keep in mind that everyone is selling right now with this silver jump lately. The market is saturated and wholesale bids are weaker than ever. Good luck, hope it works out well.
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We have 1 “brick & mortar” coin dealer in our region, population 175,000.
He routinely offers 50% for junk silver. He’s been in business for over 30 years.
Several pawn shops also, offer same price for junk silver.
Besides driving 200 plus mile to major cities that offer multiple coin shops, the best route to sell around here is through estate auctions. One auctioneer charges 10% and the rest charge 15%.
Virtual every estate auction around here brings melt or a little above for junk silver.
OP — check out the BST forum, you can get a general idea of listings for common silver, ie junk silver.
Wall of HONOR transaction list:WonderCoin, CoinFlip, Masscrew, Travintiques, lordmarcovan, Jinx86, Gerard, ElKevvo, PROMETHIUSS88.
Calculate the value of the silver content. Call around to see who makes the best offer. Sell to the best offer and don't look back.
For bullion and Morgans, completely untrue. You'll get more like 90%
Then it was only partially untrue.😈
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I appreciate the ideas.
I’ll call up some coin shops tomorrow.
I may consider the auction route as well.
Anything that involves shipping is probably not practical for my situation.
Thanks!
I'd like to see them on the BS&T. There are likely a number of us who would be interested if the price is reasonable. I would recommend specifying that you are looking to sell to well established members who have solid history of BS&T transactions. Doing so can prevent "complications".
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins, justindan, doubleeagle07
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My mind reader refuses to charge me. . . . . . .
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Frank D
In my area there is a local guy who has active buyers for silver and gold coins. He pays fair prices because he has an easy flip. If you don't have anything of numismatic value, it's worth finding a dealer like that. As others have said, shipping is expensive and sometimes risky these days.
The types of coins you mentioned don’t sound as is if they’re well suited for auction. They don’t have the upside to justify the commission you’d have to pay.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
The "auction route"? With the material you have mentioned that would be a very unwise choice.
In honor of the memory of Cpl. Michael E. Thompson
If it is a big enough deal, Heritage will come to your residence. A representative will go through your holdings and inventory it. They then will sign a contract of some type and take possession of your coins.
At least they did so for me about ten years ago.
(Heritage had a Southern California area office- Beverly Hills, I think.)
peacockcoins
While that may be true for collections over a certain threshold, Im doubtful that heritage would spend the money to sent an agent to go pick up "A few hundred1964 Kennedy halves (unc), and a couple dozen assorted morgans and liberties and such (circ)." With what OP has listed, this sounds like approximately ~5k worth of wholesale silver. Using an auction would be the only guaranteed way to net under 80% of the value, and one would be lucky even to net that much. Keep in mind, if HA spends $600 sending someone to go pick up a collection, that has to be recouped one way or another, which would likely be at least another 10% of the total value a collector would have to sacrifice.
The only two sensible options here are selling directly to a collector on a commission-free platform (BST,FB), or selling the entire collection wholesale via the highest dealer offer. That is, if what you described is an accurate inventory of what you're selling, that is why that option was not mentioned until your comment above.
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I think I will take my stuff to a few dealers and get offers.....
I'm in the Atlanta area, and will really only be interested in dealers with brick & mortar locations...
Any dealers to recommend around ATL?
The sentence said "for bullion and Morgans..." so, as written, it is accurate. The entire comment is partially untrue, but I made no such comment on the entirety of the comment. Since you did not specify, you need to correct your comment to indicate that you are referring to the entire comment and but simply the Morgans and bullion. Otherwise, from context, it sounds like you are saying that it is partially untrue with respect to bullion and Morgans. 👿👿👿👿👿👿👿👿👿
Cool! A nerd fight.
Cool, as we’ve both been called much worse.😀
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Just so you know, I'm a giant nerd. I love being a nerd and being called a nerd.
If you are near a reasonably large coin show venue, you might want to take your material there. Just have a good idea of what to expect for it beforehand. People here were very helpful when I had 40 common date Morgan and Peace dollars to unload. I took them to a local show and it worked out well.
"Seu cabra da peste,
"Sou Mangueira......."
Here is near what you should get.
https://scoins.com/pricelist/tradingsheet.aspx
Duly noted, nerd.
😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
90% silver has been piling up. A lot of dealers apparently don't want the stuff at the moment. A few have said they do marginally better with the smelters than wholesalers right now.
It isn't in my wheelhouse though. That said, I tried to get some bags of Morgans over the past month at shows and none were to be found. They weren't brought because they didn't think they could move it. High silver changes the appetites of the various stackers. I ended up buying a lot of 10oz and 100oz bars.
Anyway, moving silver coinage right now might not be the best timing. But that can change quickly.
The premiums have shrunk considerably. Even ASE's have a premium under $2 now.
Try www.bullionstacker.com Being a newbie you may have to ship first. You have nothing to lose by trying there.
If you live in Atlanta take them to the monthly show at the Hilton Atlanta/Marietta Hotel & Conference Center at 500 Powder Springs Rd in Marietta.
https://www.google.com/search?q=atlanta+coin+show+2025
The next show is July 13, after that August 10. At the last show (June 8th) I got 24.2 times face for about $180 in circulated Roosevelt dimes. There are usually at least three "bullion" dealers at the show that pay competitive prices.
it's crackers to slip a rozzer the dropsy in snide
THANK YOU! Do they have a trading sheet for for proof EAGLES?
This is a good general wholesale buy list: https://www.azcoinexchange.com/BuyList.htm
I'd wait until fall as the summer tends to be soft.
The type of material that was mentioned will be affected far more by bullion prices than by the time of year. And there’s no assurance that bullion prices will be higher, rather than lower in the fall.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Is there generally a big difference between what a dealer will pay at a show between what they will pay at their home location? I have a tough time being off on a weekend day. It would be easier for me to ride by a couple of shops.
I would think not.
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
No
I live in the ATL area. I've sold bullion to Larry Jackson once (2016), but he's the only dealer I've sold anything to in 14 years. Hancock and Harwell is down the street from Jackson. Both are in Buckhead.
You can also compare offers to the bids Scottsman Coins has on their website.
The 90% silver prices seem reasonable but the type coin and date prices seem low.
If the Kennedy's are just generic stuff then you're basically looking for who is going to pay closest to spot for the whole lot of them. Unless the Morgan's are special the spread from dealer to dealer may be $10, in my opinion not enough to be traveling around to get the best price.
I think all of the prices are reasonable. I haven't seen buy prices much higher. Keep in mind those are sight unseen buy prices.
It's common for buyers to be more selective on numismatic coins and can always call a coin that would straight grade "cleaned" or Uncs they call AUs oftentimes. Upstate of course posts their buy prices but they are based on their own business program. I sent them a monster box of ASEs based on their buy prices and because it did not have two bands on it they said it was opened.
Of course. I'm not sure that counters anything I said. Those prices are similar to Upstate FWIW