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How do you price your coins when it is time to sell?
mrpaseo
Posts: 4,753 ✭✭✭
What medium do you use to sell your coins when it comes time to part with them (For whatever reason). I've sold only a handful in my days and all were on the bay starting at .01 cent.
Thanks,
Ray
Thanks,
Ray
0
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<< <i>That would depends on how badly I needed the money and how quickly I needed it. >>
I just realized this would probably be better on the BST forum, sorry about that.
Okay, let's see... Let's assume you just want more cashola to invest back into your hobby, upgrades, stuff like that.
Ray
I would give people here first shot at them. Put up prices that you think are strong
money for the coins and see if anyone bites. After all, they get to pick among them
all and choose the best of the best. Some are probably worth strong money.
After a week lower prices down to see if the rest will move and begin to take offers.
After another week, whatever is left can go on ebay starting at .99 cents.
You should wrap everything up after 3-5 weeks and be done with them.
<< <i>What kind of material is it? Your best bet would probably be to contact a dealer who could likely buy all your material for a fast check. BST and eBay are the best way to have your best stuff picked off and you will be left with your worst stuff that nobody wants. The people here want you to list it on BST so they can pick your good stuff and leave you with a steaming pile of nothing. >>
Unless you later want to sell a big lot to a dealer, I don't see the downside to this. You basically sell all your good stuff first on the BST, which is what normally happens because its the best. If you're planning on selling a big lot to a dealer then sure, you don't want only crapola in your lot. Plus, we all get first crack at the good stuff and that's ok too. Maybe I'm overlooking something, feel free to disagree.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
<< <i>I've found when I try to price coins and sell them on the BST, I'm either way over or way under the money. They either sell in an hour or languish for weeks. So now I'm back to putting them on eBay at $.99 open and no reserve and letting the market price them for me.
Sean Reynolds >>
How many have you had end up at the end going for 99¢ in this downward economy?
All three sold for a decent profit. I would say the answer is clear. The audience that ebay brings is far superior to most venues.
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SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
<< <i>
<< <i>I've found when I try to price coins and sell them on the BST, I'm either way over or way under the money. They either sell in an hour or languish for weeks. So now I'm back to putting them on eBay at $.99 open and no reserve and letting the market price them for me.
Sean Reynolds >>
How many have you had end up at the end going for 99¢ in this downward economy?
Reminds me of a roll of wheat pennies I bought for $.45 with free shipping.
<< <i>
<< <i>I've found when I try to price coins and sell them on the BST, I'm either way over or way under the money. They either sell in an hour or languish for weeks. So now I'm back to putting them on eBay at $.99 open and no reserve and letting the market price them for me.
Sean Reynolds >>
How many have you had end up at the end going for 99¢ in this downward economy?
Take a look, I lost money on a few but probably deserved to, and in general I have been happy. The thing to keep in mind is that I'm not selling "widgets" but variety and error coins which don't show up on eBay very often, so my stuff tends to attract more specialty collectors and serious bidders.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
Looks like you are asking two questions. To answer your header question, how do you price your coins, I'll use the Greysheet
or PCGS price listings. As to what medium do you use to sell your coins, I it has mostly been eBay where they get the most
exposure to potential buyers. I have just recently used Great Collections to sell a part of my collection and I did very well with that.
Starting prices on eBay for one cent is just scary to me but many sellers do it and get good results. Good Luck with ever you decide.
If the coin is not sold after 3-4 days I have been known to lower the price.
No single price guide is used.Pricing is mostly based on my experience and market knowledge.
“We are shaped by our thoughts; we become what we think. When the mind is pure, joy follows like a shadow that never leaves.” — Gautama Buddha
<< <i>I posted three new PQ quality coins for sale on the BST through my website a few weeks ago. Had a few nibbles, but nothing serious. I posted all three on ebay last night. All three are now sold. Two sold off ebay, one sold on ebay.
All three sold for a decent profit. I would say the answer is clear. The audience that ebay brings is far superior to most venues. >>
Ditto.
Although I usually list em here first, just in case one of my fellow forumites has an interest...
I work with a few dealers occasionally too, trades and what not...never hurts to ask, but I prefer to get a little more of the money for me !
Here's how I would sell my collection.
The really cool ones sell privately to friends who want them, at retail.
The remainder go on consignment to a good dealer who keeps 5-10% of retail.
The remainder after that go either to Heritage or ebay w/o reserve.
Many sell that way, and I come out a few % better off than I would by using ebay, and the buyer comes out ahead too.
Still, this is a small community, to the point where many good coins offered at very fair prices simply won't have a buyer here (as Seanq observes). In that case, you go elsewhere ... but back to the original question -- how do you price it -- I look at recent sales & currently for-sale comparables; I weigh in how quickly I want it to go away and let that determine how aggressively I'll discount.
<< <i>What kind of material is it? Your best bet would probably be to contact a dealer who could likely buy all your material for a fast check. BST and eBay are the best way to have your best stuff picked off and you will be left with your worst stuff that nobody wants. The people here want you to list it on BST so they can pick your good stuff and leave you with a steaming pile of nothing. >>
Greeniejr---As a coin dealer, your response doesn't surprise me.
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