Advice on how sell a gold type set needed

Myriads · October 21, 2003 5:01AM

Hello folks,

I'm in need of a touch of advice. Below you will see a US Gold Type set. It was put together for me by my Grandparents over the first 12 years of my life, one coin each Birthday.

Recently I realized that I had not even looked at it for a long time. Like twenty years. It was sitting in a bank security box quietly napping. I've sort of realized that my attachment to the coins is mostly sentimental and that my 'enjoyment' of them is abstract, based on the history of my getting them, and not so much the coins themselves. Owning them doesn't seem to be needful to enjoy my feelings for them.

So I've decided that perhaps selling them off and getting some coins that I will enjoy on a much more direct and personal basis is probably a good move. I've sold off coins before, and understand the differences I'll see between what I'll get vs. what I'd pay, but I've never sold coins of this value before, so I'm at a loss of how to go about getting a good and fair price for them. In honestly, as not having ever had a special like for gold coins I'm even at a loss of how to grade them well. Does anyone out there have some good suggestions as the path I should take in selling? I'm not in a rush, so I have lots of time.

Thanks!

Myriads

goose3 · October 21, 2003 5:04AM

send them to NGC/PCGS/ or ANACS for grading.

If you think they've been cleaned or have other problems, use ANACS or you could use NCS. NCS has a MUCH nicer holder than any of the services and does not "NET" grade you like ANACS will.

once they are holdered they should be pretty easy to sell on ebay or even on the b/s/t board.

1jester · October 21, 2003 5:24AM

Looks like a nice set of coins, Myriads. Good luck with the sale. I agree with Goose to send them to one of the top 3 TPGs he mentioned. Bear in mind that it will take a few months to get the coins back.

XpipedreamR · October 21, 2003 5:26AM

That's a nice set of coins. Selling coins you're sick of isn't a bad thing, but since you've had them so long and have a sentimental attachment to them, I'd sleep on it. You might feel different once they're gone.

I've sold off coins that I've never thought of again, as well as ones that I wish I could have back(32-S quarter, arrrrgh!)

goose3 · October 21, 2003 5:32AM

WOW
that pic didn't load the first time I read your thread!
NICE set!

If you decide that you wish to go the certification route.........I would also enlist a bit of help and first let someone (possibly a local dealer or 2) peek at them and give you opinions as to if any of them are cleaned, etc....

billboat · October 21, 2003 5:42AM

A very nice set and certainly yours to dispose of--however, it is or will be a great rememberance of your grandparents. I'd think about it long and hard--Many years ago I sold a gold piece given to me by my great grandmother in 1952--I still regret selling it.

IrishMike · October 21, 2003 5:54AM

First let me say that I am not going to give you advice on what you should do. If it were my set I would buy a couple of good books and read up on the history of the coins. At least I would want to learn what I had. Next I would put them away in a lock box and forget about them. Why? , this happened to me too and one day I realized how much they meant to me. That day may never come for you but then again it might.

Russ · October 21, 2003 5:59AM

Myriads,

I'd suggest you edit the title of the thread and add the words "gold type set" to catch the attention of the specialists in this area.

Russ, NCNE

supercoin · October 21, 2003 6:03AM

I've sort of realized that my attachment to the coins is mostly sentimental and that my 'enjoyment' of them is abstract, based on the history of my getting them, and not so much the coins themselves.

Well, "coins themselves" can always be purchased, but you can never replace that unique history.

I'd suggest you get someone to appraise them for you. It may be that the monetary value is not as much as you expect depending on how many coins are circulated or cleaned, and you might decide the history is worth more than the cash.

Good luck!

291fifth · October 21, 2003 6:06AM

Nice looking coins. You should have them slabbed by PCGS, NGC or ANACS to insure authenticity and to increase marketability. ANACS has a $9/9day gold special right now. You may want to try that as they won't "body bag" the coins but will net grade them if they have a problem (assuming they are genuine and the problem isn't PVC).

relayer · October 21, 2003 6:06AM

That looks like an incredible set

The three most valuable there are the $1 Type 2, the $3 Princess (I need those for my 12 piece Gold Type Set) and the $5 Indian.

If I were you I'd hold on to those.

If you want to sell you should have them graded first (by PCGS or NGC) but to me that sure looks like a keeper set.

jjroll · October 21, 2003 7:47AM

There is no need to go through the trouble of getting them graded.... I'll buy them from you as is. I'll make you a really good "DEAL" ...

Baley · October 21, 2003 7:54AM

If I were you I'd hold on to those. -relayer

me too.

edit: I mean I'd keep the whole set.
you can always buy different coins, but these ones, your grandparents gave you.
might I add how nice that was of them?

I'm not in a rush, so I have lots of time.

good. your kids or grandkids might like to get them, someday.

darktone · October 21, 2003 11:45AM

I would send them to NGC for the gold rush special on the liberty's $20 a coin and 5 day turn around. All other at $24 per coin and 5 day turn around. Pictures to small to give estimates on any one coin but they do look nice! mike

MrEureka · October 21, 2003 11:51AM

No need to get all of them graded, just the higher grade pieces. For example, the $10 Lib looks AU at best and grading it would be a complete waste. The $5 Indian looks very interesting and probably needs to be slabbed. The $20 Lib could also be a nice surprise. Bring them to someone you trust and get some advice. Good luck!

originalisbest · October 21, 2003 11:58AM

Looks like a keeper to me, but, that's me! The $3 and type 2 $1 both look very decent, as do all. Good luck in whatever you decide to do, but I'd keep them unless you really are in need of the proceeds from a sale. No matter what, do take your time about it.

Blade · October 21, 2003 12:00PM

If you have the opportunity, take the set to a major show. You can get free grading estimates from NGC or PCGS without spending a thing. Some of those uncs might be very nice coins - the Saint looks like it might be a 66, the $10 Indian 64ish and if the $3 Princess is Unc, you scored big.

I would follow the majority of advice here and hang onto it after that. Why slab it? Looks great in that holder (impressive). I would only slab if (1) you are intent on selling now or (2) you've caught a registry bug.

Let us know what you decide. I would be proud to own a nice set like that, especially with the love that was put into the acquisition. Now, all you need to do is find the rest of your Grandparent's coins.

Blade · October 21, 2003 12:07PM

By the way, I would just LOVE to have a set like that myself. I'm working on a 1792-current major type set and that would be a nice head start!

RYK · October 21, 2003 12:31PM

With great confidence, I can say that I have no idea how these coins will grade out, whether they have problems, etc. The two dates that I can read, the $20's are common dates. I would take the coins to a reputable gold coin dealer in your area. If there are none, I would take the coins to a major show and show them to a few dealers who appear to specialize in gold. Or contact a national gold coin dealer and ask him/her what to do with them.

I do not disagree with idea of slabbing the coins (at NGC). At least you will then have a ballpark idea of what the coins are worth and can contact a dealer for a sight-unseen estimate. As a rare-date gold collector, the only coin that has promise to me is the $3 (but I cannot read the date on the reverse). Most of the coins appear or are likely generic, and the larger coins appear AU (if they are not cleaned).

Coinosaurus · October 21, 2003 1:21PM

I would strongly advise NOT selling them, you can always buy more coins but you can never replace this piece of family history. If you don't really need the dough there is even less excuse to sell them.

Myriads · October 22, 2003 9:53AM

Hello folks,

I want to thank everyone for their advice on who to best sell the coins, and also on if I should sell them. It's all been listened to, and is deeply appreciated.

I still feel rather mixed about keeping them, but based on your statements, I think I'll toss them back into the security box again. It seems like it's the choice that cannot hurt. :-)

And to settle Ryk's curiosity the $3 is an 1855

Myriads

ohbaby · October 22, 2003 10:05AM

Myriads, I'll offer you face or melt whichever is higher. Done deal?

Call me last.

lordmarcovan · October 22, 2003 10:18AM

WOW, that's a great set!

They would certainly be worth certifying, just to be sure there aren't any counterfeit coins or pieces with hidden problems, but I think they look very handsome in that Capital plastic holder.

I for one would love to make an offer on the whole thing if you decided to sell it as a set, but being a small, part-time dealer, I doubt I could make a competitive bid. It's probably just out of my reach.

If you wished to sell the coins individually, I would submit them for grading, to PCGS, NGC, or at least ANACS. If you didn't want to mess with that but wanted to go for one lump sum and a simplified sale (as a set), I would take slightly better pics of them, and list them either here on the Buy/Sell/Trade Forum or on eBay. (The former will not cost you any fees but the latter will give you better exposure- of course, you could do both.)

I sold a PCGS gold type set on the Buy/Sell/Trade forum last year, and it was nice, because I didn't have to pay eBay one red cent (and their fee would have been hefty on a sale that size).

If you do decide to sell the coins, and to go the B/S/T route, make sure you go into "Profile" and activate the Private Message system on this site, so that prospective customers can contact you that way. Much more negotiation goes on via PM here than email.

If you do sell the coins, make sure you have a really nice photograph (or photographs) of both sides of the set, and maybe of the original coins, too. You can frame this as a keepsake of your grandparents' investment, and this way you have your cake and can eat it it, too- you can cash in without feeling too guilty, because that way, you can still "look at" the coins even when they're gone. (It wouldn't hurt to keep the pics, anyway, just in case something goes wrong, heaven forbid.)

Myriads · October 22, 2003 10:20AM

I'll accept face for them if paid in Liberty Nickels or Three Cent Nickels in MS62 or higher. I'll give you triple credit for proofs! :-) :-)

Myriads

Advice on how sell a gold type set needed

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