Modern Coin Dealers

erwindoc · August 20, 2011 10:02PM

Anyone know of reputable modern coin dealers that could contact about a collection I am interested in selling?

BillJones · August 20, 2011 11:31PM

Why don't you contact the fellow who calls himself "Wonder Coin" on this site?

As for selling high grade moderns to dealers, I've found it to be a one way situation. I pay $15 to $25 for modern slabbed Proofs in PR-69 DeCam, but the dealer's buy price is $5 apiece.

llafoe · August 20, 2011 11:37PM

<< Why don't you contact the fellow who calls himself "Wonder Coin" on this site?

As for selling high grade moderns to dealers, I've found it to be a one way situation. I pay $15 to $25 for modern slabbed Proofs in PR-69 DeCam, but the dealer's buy price is $5 apiece. >>

High grade modern coins are PR70DC for proofs and MS68/MS69 for business strikes... PR69DC is not high grade (and in a lot of cases, MS67 is not high grade).

RYK · August 20, 2011 11:41PM

<< Why don't you contact the fellow who calls himself "Wonder Coin" on this site?

As for selling high grade moderns to dealers, I've found it to be a one way situation. I pay $15 to $25 for modern slabbed Proofs in PR-69 DeCam, but the dealer's buy price is $5 apiece. >>

Wondercoins is a good place to start. He regularly solicits to purchase coins on the BST and is very reputable.

That said, modern coins are also a diverse area, and there are specialists within the field.

I noticed that you have Roosevelt dime registry sets. If these are what you are looking to sell, it might be best to contact fellow collectors to
1) See if they need any of your coins.
2) See if they can refer you to other specialty dealers.

It has been my experience that the best dealer to buy your specialty collection or set is the dealer who regularly retails like material.

JohnMaben · August 21, 2011 12:07AM

I think modern coins and modern coin dealers are generally misunderstood by those that aren't actively involved on a daily basis. The common assumption is that if you are a dealer in modern coins then you would be likely to make offers to buy pretty much anything from say 1950 to date. I do not know of any company that will do this, none. Most have established their niche and buy and sell within that, granted some dealers have broader coverage than others.

In contrast with pre-1950 coins for the most part (but definitely not in all cases) it is easier to determine value, markets are more established, and items have a higher degree of liquidity. Therefore the corner coin store is far more likely to make an offer on something he is CERTAIN he can sell vs something that he knows is more specialized. When selling modern coins the key is to figure out what dealer(s) sell the most of the item (s) you are wanting to sell. That dealer is the logical but not certain choice because even though he may sell lots of a particular item, if he is overstocked at the time you wish to sell you are generally going to get a "no thanks" or a low offer.

In this thread it seems we may be talking about Roosevelt Dimes. I can't speak for others but sadly this series has always been one of our worst sellers and for that reason we generally carry very few of them. By comparison we would LOVE to buy back the vast majority of silver, gold, and platinum eagle coins, Buffalo's, and spouses at very hefty premiums over what our customers paid us. True, some have still managed to decline in value and most of the rise has to do with the rise in bullion prices but it also has to do with the "popularity" (which creates demand) of the specific items. Popularity trumps rarity in every area of numismatics and collectibles in general. To prove that point, an item can be extremely rare and if no one cares or wants it, good luck selling it. On the other hand an item can be common as dirt and people could be lined up around the block to buy it because THEY LIKE IT.

Kind of went off on a tangent but I guess the moral of the story here is BEFORE you buy anything consider RESALE prospects, don't wait until you get tired of the item (s) two years later to find out you bought something that doesn't have a large audience of potential buyers.

Best of luck erwindoc,

John

John

leothelyon · August 21, 2011 7:05PM

Anyone know of reputable modern coin dealers that could contact about a collection I am interested in selling?

With any series IMO, you must take into consideration that the time frame for selling coins is the same as buying them. Now, if you were not careful, buying coins with a discerning eye towards detailed strikes, lustrous fields, minimum marks, superb toning, you will have a problem moving your coins. They're not lined up to buy labels. They want multi-quality material, it's that simple!
The ultimate coins of modern series do OK. Collecting the ultimates for any series has always been complicated, more so than any dealer would like you to believe.

Leo

wondercoin · August 21, 2011 7:34PM

Thank you Bill Jones for thinking of me. And, thank you erwindoc for asking me about the collection earlier this month. I passed on taking on any more clad Roosies to sell (assuming this is the same collection) because I still have Justhavingfun's remaining pop 1, pop 2, pop 3 key clad coins to sell off and I want to wrap up that venture before starting another venture with clad Roosies.

And, John Maben is correct about the scope of modern coin dealers (and collectors). Like John, I am a very strong buyer of the material I am looking for. I often pay more to collectors than they net on ebay after fees for the same coins (after doing all the work selling "retail" to customers there). I need hundreds of thousands of dollars worth of modern coins RIGHT NOW and I am ready to pay for them. But, Bill Jones correctly points out that if I was offered a "collection" of PR69DCAM coins, my buy price might be $5/coin (or less). But, I will say that my sell price is also under $10/coin for them as well (not $15 or $25). Let me pick the dates and denominations and my price could drop even more. Want to buy a 1,000 or 2,000 units ... send me a PM and we could work out a very attractive deal I am sure. My point is simply there is an active market even for widgets such as PR69DCAM coins and I can assure you the spreads are not $5 vs. $15, or $5 vs. $25. That isn't to say some collectors will not sell at $4 or $5/coin and some will certainly buy at $15 or $25/coin for commons. But, in quantity, even those widgets have a market with a reasonably thin spread. Just my 2 cents and a touch OT so I'll stop there.

Wondercoin

edited to thank RYK as well

leothelyon · August 22, 2011 2:28PM

Me thinks the Op is getting an earful on offers for his colorful NGC graded coins. Is a PCGS 66 Full Bands coin worth more than a NGC 67 Full Torch?

Leo

PerryHall · August 22, 2011 9:33PM

<< Anyone know of reputable modern coin dealers that could contact about a collection I am interested in selling? >>

Most coin dealers aren't modern---they're mostly old-fashioned.

JBatDavidLawrence · August 22, 2011 11:11PM

Many great points in this thread...

Erwindoc, if you know how much you're looking to get for the coins, you're more than welcome to send me a list with your prices on them. If I think that we can use them, I'll give it a shot. Unfortunately Roosies aren't the hottest thing in the market right now, but I'm not opposed to buying them if it "makes sense"...

leothelyon · August 23, 2011 8:09AM

<< Many great points in this thread...

Erwindoc, if you know how much you're looking to get for the coins, you're more than welcome to send me a list with your prices on them. If I think that we can use them, I'll give it a shot. Unfortunately Roosies aren't the hottest thing in the market right now, but I'm not opposed to buying them if it "makes sense"... >>

There's a link to the collection in the OP's opening post. There's a list at the NGC registry. That said, I've looked at the set, there are some nicely toned Roosys and I don't see why they wouldn't sell on ebay.........with large detailed pictures, by all means.

Leo

cladking · August 23, 2011 8:17AM

For what it's worth Erwindoc is quite knowledgeable and reputed to have a good eye.

Of course this is probably why the thread is getting so much attention.

UtahCoin · August 23, 2011 8:17AM

What part of the country are you located?

leothelyon · August 23, 2011 9:45AM

I remember buying the #1 non full step Jefferson nickel collection s few years back and sold quite a few of them through the BST forum. There were 54 coins in all. The amazing thing was, very few of the buyers asked me about the quality of those coins. Nor did I provide pictures. All they wanted was the label.

I've forgot why I was writing this post.
This wasn't my point but obviously the OP doesn't have time to sell his coins. All the listings, photos, packaging, he must be on the road most of the time and he would just like to pass the entire set to someone and they can do whatever they want with it.
I would do it if the coins were in the PCGS or ANACS new holders.

Leo

erwindoc · August 23, 2011 11:14AM

I appreciate everyones help and the kind comments. I dont know if I can thank this thread or not, but a private collector may be stepping up to enter the game!

erwindoc · August 23, 2011 11:15AM

<< What part of the country are you located? >>

Upper east Tennessee. If you follow NASCAR, they will be racing not to far away from me this weekend in Bristol.

Modern Coin Dealers

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The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

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