Great Collections for my final sale?
Russell12
Posts: 484 ✭✭✭✭✭
I hope not to go anywhere for a long time, but I am thinking about how to leave my coins. I want my heirs (probably my 2 year old grandson) to get a good value from the sale, unless he wants to keep them! Looks like Great Collections may be the best place. I do have a preferred dealer near me, but he is around my age, so when it's time it will probably be his son, who I do not know.
My collection is in two parts. One, PCGS slabbed AU or better Type Set, PCGS slabbed low grade Key Date Set, PCGS slabbed AU or better Variety Set. Second, my Whitman albums, about 30 types, some with low grade key dates. I do not know what to do with the albums yet, but the slabbed probably to Great Collections?
I started to look at the Great Collections form, thinking of having it filled out when it time. It has spaces for 30 coins, I'm already over a hundred. Any thoughts, alternatives, or good ideas? I do have everything on an Excel spreadsheet.
Comments
You might find this video interesting, informative and maybe a little surprising:
Tim
I have 7 Great Collections forms all filled out . I give specific instructions about the order the coins are to be sold in. Just leave the date open. I hope you have something like a Head Librarian to follw your instructions. I do. Good luck. James
Not sure it’s right, but I’ve left explicit instructions to sell my US slabbed coins thru GC, my foreign and colonial slabbed coins thru Heritage and my mostly raw, extensive medal collection through Heritage.
My low value stuff, slabbed or not, I’m going to try to get rid of now as I don’t think my kids want to keep them or shlep them around among dealers or on eBay. I may donate them to a club or sell them bulk to a dealer who works with such material. That stuff adds up but the total isn’t material compared to the rest of the collection. I would like GC for low value slabbed stuff, but the economics of a major auction just don’t work for those items. I’ve sold a few and netted a negative number after listing fees.
I use Excel also. When I sell thru GC I simply attach the spreadsheet to the auction form without filling out all the individual items list. The spreadsheet is formatted with every thing they need and they have kindly accepted my method, which I’ve used for years.
GC is the best place to sell IMO.
I always root for GC to become the dominant player. They charge 10%, which feels like a fair cut. The other big guys charge 20% which is just too devastating a wallop to have any feeling of breaking even in this hobby.
Don't die with your coins. Start thinning the collection and put the money into an educational fund for your grandson. He may or may not have any interest in coins when he grows up. So far as the album coins go, pull out all the key and semi-key dates as they are what the market is going to want. Try offering them on the BST on this forum. The common date silver coins are probably worth close to melt at today's high silver price so it may just be best to pull those out and sell to the highest paying local buyer or offer those on the BST as well.
If your collection is larger than a single form, reach out to Ian, Raeleen, or any member of the team (well, not Belle) and Im sure they will be happy to help you - preneed or from beyond the grave.
ANA 50 year/Life Member (now "Emeritus")
HAHA, I think
They charge 15% if the coin hammers for less than $1000
I just dropped off 44 slabbed coins at Great Collections last Thursday afternoon. So yes, I agree that for slabbed coins GC is a Great Option. I like them so much I even played around and designed a logo for GC just for fun
Mr_Spud
Just print your spreadsheet with the same info that GC requires and attach it to the form. Works for me every time.
Great Collections
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Paging @ianrussell - I like @MrSpud 's logo. I doubt you could use it without some site work since your color scheme is a greyish blue, but ... classy
ANA 50 year/Life Member (now "Emeritus")
Which is frustrating when your coin hammers for just under $1000 while the coin actually costs over $1,000.
Actually that 20% is negotiable. With seller and buyer commissions, It could be less OR MORE!
As far as I know buyer fees are 20% for everyone at a big auction house like SB or HA while seller fees are negotiable for most sellers. There are a fair number of sellers getting anywhere from hammer plus 7 to hammer plus 11 or maybe higher depending on the value of the consignment and no reserve.
I would sell moderns and commons at GC and classics and higher value at Heritage.
http://ProofCollection.Net
Not every coin is best suited for the same venue. Different auction companies have different strengths and weaknesses...and money talks, negotiation is not unusual for the legacy outfits. I also would recommend not to leave the entire liquidation to the next of Kin....but if you do, it's always best to leave contact information, and detailed and thorough instructions. Maybe prices paid, or a target % of price guide or CPG.
The coin market is cyclical, and some opportunities arise at the right time where you can lock in a substantial return...they may not be there in the event of a market downturn. Personally, I find great pleasure in watching a great coin find its way into a worthy collection... almost as pleasurable as the hunt itself.
Keep in mind, selling generic $20 Double Eagles via auction right now is a minimum $250-$300 donation per coin you're making by not utilizing a direct sale at the going market rates. This wasn't the case 3-4 years ago, when there were premiums to absorb the juice.
Founder- Peak Rarities
Website
Instagram
Facebook
Wow, this is really nice and classy, big like from me!
@ianrussell 😏
Well, the credit for the photo of the seated liberty dollar in the center of the concentric circles should go to Phil Arnold, but if Great Collections wants this for any reason, I’d be honored and for free it’s theirs. I personally like it for multiple reasons, one of which is I think it would “pop” on merchandise like T-shirts, hats, mugs, etc…
Mr_Spud
Needs a privy mark.
http://ProofCollection.Net
Of course, how could I have forgotten to add that.
Much better now
Mr_Spud
I would say it could be more than one venue. Heritage for big coins, IMO.