Which coins are liquid?

Bankerbob56 · January 13, 2012 3:46AM

Based on some feedback from an earlier thread, my question to the many experienced pros on this site is this: Which coins in the broad spectrum of issues do most people consider to be most liquid? Exclude PM's. If I was a collector wanting to dive into a series, which would be easiest to "cash out" of, what would it be? Please consider grades in the mix....

I am not advocating collecting on this basis, but many have said that an "exit strategy" should be considered when buying coins. It would be great if there could be a "top ten" list of series considered to be most liquid. Obviously, everyone has an opinion, but there must be some consensus of liquidity among the dealers on this site.

dragon · January 13, 2012 3:51AM

PCGS common date Saints in MS61 - MS65, always a ready bid and numerous willing buyers.

Shamika · January 13, 2012 3:52AM

Any key date. For instance, the 1909-S VDB and 1914-D Lincoln Cent would be gobbled up by any dealer no matter how many he/she may have inventory.

Shamika · January 13, 2012 3:55AM

If you want liquidity, avoid esoteric coins or unusual series.

Also avoid uber grades. Although these coins sell for high prices, the market is thinner than most collectors may admit.

crypto79 · January 13, 2012 3:59AM

<< If you want liquidity, avoid esoteric coins or unusual series.

Also avoid uber grades. Although these coins sell for high prices, the market is thinner than most collectors may admit. >>

Not always true. I collect a fringe series and whenever I list a coin it is almost always sold within 24 hours at a decently fair price.

DrPete · January 13, 2012 4:01AM

A liquid metal is mercury, so perhaps Mercury Dimes!

PerryHall · January 13, 2012 4:05AM

All coins are liquid.........at a high enough temperature.

MidLifeCrisis · January 13, 2012 4:09AM

Univerasally recognized key dates (09S VDB Lincoln, 16D Mercury Dime, 1893S Morgan, etc) in VF to MS64.

LindeDad · January 13, 2012 4:13AM

For series I would say Morgans and Lincolns always seem to be a lot of people collecting them in almost all grade levels.

WTCG · January 13, 2012 4:13AM

There is a difference between liquidity and value expectations. Silver classic commemoratives are salable but not at Greysheet numbers

Other than bullion coins, the coins that are most salable tend to be the series that are common, large in size, interchangeable and have many common dates. Morgan dollars, walkers, $20 Saints and Libs are good examples.

The least liquid are the unusual and esoteric issues or varieties like VAM's.

Sonorandesertrat · January 13, 2012 4:30AM

Look around typical B&M establishments to see what they tend to have in stock and what they have a hard time keeping in stock.
Nice 18th-19th-early 20th-century type coins are usually desirable if they are properly graded and in a PCGS or NGC slab. Certain kinds of coins have been disappearing from the marketplace during that last 3-4 years, like nice DMPL and proof 65 Morgans, AU55-58 Seated Liberty dollars, nice early large cents, etc. These would be easy to sell.

Bullion-related coins (circulated 90% silver, AGEs, low-grade generic Saints, etc.) are quite liquid.

What's less liquid to very illiquid? Most medals and tokens, most foreign coins, circulated small-size currency, most modern (post-1945) U.S. coins, 3-cent pieces, etc.

The notion of what's liquid will vary from dealer to dealer (and possibly year to year---during the past few years, most small dealers have stayed in business because of heavy bullion-related trading; the market for modestly priced collector coins hasn't been good, since many collectors are sitting on the sidelines dues to financial concerns).

291fifth · January 13, 2012 4:52AM

Most coins/medals tokens etc. are liquid at a loss.

The thinner the market the lower the liquidity.

I now view a portion of my medal collection as "valueless" because of I believe the costs related to an attempted sale of that portion of the collection would be higher than what I would realize.

WestySteve · January 13, 2012 5:21AM

Coins without problems that are often found with problems. Like Bust coinage is hard to find with original skin and unscratched in a decent grade. Early copper that hasn't been cleaned or scratched should sell pretty quick. But liquidity for the price paid might mean that you bought it at a good price. If you buy it cheap enough, anything is easy to sell for your buying price unless you pull it from circulation as long as it is something that people want.

I say "as long as it is something that people want" because I sometimes see really good deals on stuff in the $10 to $20 price range that is worth twice the asking price, but I just don't want to bother with it cluttering up my collection. So it's important for you to get a good deal, but its also important for the coin to be expensive enough to be worth the trouble of selling....both for you and the next guy that buys it.

Another liquid coin is a nice type coin that is special or unique. Basically, a high grade specimen of a common date that looks nice...nice toning, nice luster, etc. Examples of that might be the 1913P Type I Buffalo Nickel, a really nice 2 cent piece with original surfaces, A nice 20cent piece with original surfaces, etc.

AMRC · January 13, 2012 5:30AM

Oxymoron. Since they are money they are by definition liquid as you can spend them directly. Aside from that any coin can be sold at some price so they are all very liquid.

secondrepublic · January 13, 2012 5:42AM

The most liquid are the coins whose value is most derived from their precious metal content (but which still sell for a premium above spot) -- common date Saints in lower MS grades are the most obvious example.

BillJones · January 13, 2012 5:44AM

If you want liquidity, bullion gold (American gold eagles) and PCGS and NGC certified St. Gaudens $20 pieces in MS-63-4 are the way to go.

yellowkid · January 13, 2012 5:44AM

Almost any regular issue with great color is easy to sell, a lot less so with tokens.

VMRCC · January 13, 2012 6:07AM

"If I was a collector wanting to dive into a series, which would be easiest to "cash out" of....."

Too general. If collecting a series, in most cases there are bound to be a few less liquid issues. If one's main objective is being able to "cash out" quickly at a minimal loss if (any loss) collecting one series probably is not the way to go. As was already mentioned, certain coins are almost always in high demand no matter the true rarity and/or availability. 09-S VDB and 14-D Lincs, 16-D Mercs, and other so-called "keys" are readily salable, especially quality examples. However, as for the question asked ("which series") there is no simple and easy answer as too many variables are involved. Each collector and their individual budgets are unique.

On the low end some people pick their coins out of pocket change. No pain, no gain, no loss. JMHO.

dollarsandcents · January 13, 2012 6:07AM

<< Oxymoron. Since they are money they are by definition liquid as you can spend them directly. Aside from that any coin can be sold at some price so they are all very liquid. >>

This is exactly correct. There is a collector market for every coin, some stronger than others. Needless to say, liquidity is not the same thing as profitability.

dogwood · January 13, 2012 6:16AM

I don't know much but I'd recommend Mid-grade Pcgs Barbers of about two dozen dates in all three series. Golden all day long.
Seated Quarters with the same preconditions.
You've got 3 dozen people chasing 5 coins per date with almost cult-like obsession.

Timbuk3 · January 13, 2012 6:17AM

I think for liquidity purposes, I would pick
Saints and Morgans. !!!

Sonorandesertrat · January 13, 2012 6:25AM

<< ...Oxymoron. Since they are money they are by definition liquid as you can spend them directly. Aside from that any coin can be sold at some price so they are all very liquid. >>

No. Asset liquidity refers to its ability to be sold without incurring a major loss in value. If I can only get 30 cents per dollar of 'retail book value' (however one wishes to define this) for a coin, then it isn't very liquid. Most collector coins have market values that greatly exceed their face values, so proposing to spend them isn't persuasive (although I admit to having received silver U.S. coins in change during the last five years).

libertydude · January 13, 2012 6:29AM

<< 

<< Oxymoron. Since they are money they are by definition liquid as you can spend them directly. Aside from that any coin can be sold at some price so they are all very liquid. >>

This is exactly correct. There is a collector market for every coin, some stronger than others. Needless to say, liquidity is not the same thing as profitability. >>

I think his point is that coins are legal tender so they can always be 'sold' by purchasing an item with them.

Based on the discussion here though I think 'liquidity' implies ease of sale AND a decent return on initial purchase price. Not sure though

Bullion coins purchased near spot are the way to go since numismatic value can sometimes be too volatile (e.g., release of a newly discovered hoard).

EDIT: Yeah, what Sonorandesertrat said

WestySteve · January 13, 2012 6:31AM

Sorry...I had to run before I could finish.

Another thing you could do is when you figure out what might be a good target coin to acquire....let's say...Saints...for example in MS62....

Then you could buy them in an auction with your eye on the price guide. Ideally, a lightly attended one, or maybe an ebay auction that was closing late at night on a Tuesday. That kind of thing. But again, watch the price guide as you do that.

If you bid on an item that is being chased (i.e., lots of bidders on ebay), and the auction ends at an odd time (Tuesday at midnight), this is helpful because you know that there was an underbidder who was only a couple of dollars from what you spent. So perhaps in an emergency if you needed cash and if you resold it in a more populated auction, or one ending at a better time (i.e., Sunday early evening), then you might actually get more $$$ for it than you bought it for. Yes...Ebay would get their fees and so would Paypal. But a 14% spanking is better than 50%.

Also, before someone says, "Well, that is too simple and won't always work....all auctions are different...blah, blah, blah". True. But it would be the same coin in the two auctions. A better presentation and better marketing strategy could help close the 14% gap. Note: Bricks and Morter dealers will automatically hate this idea.

Saints might not be a good example for this because they are "bullion-ish" and gold is "bubblish', but you get the idea.

Steve

ricko · January 13, 2012 6:37AM

If you are excluding PM's, then you are excluding the most liquid of coins. Small bullion gold, or full size eagles usually will go quickly for spot. Morgans (although silver, a PM) will go fairly quickly to PM buyers for spot. Other than that, you enter the collector market and immediately shrink your potential customer base. Cheers, RickO

WestySteve · January 13, 2012 7:02AM

Ricko,

Very true. In the short term, coins with bullion, or priced very close to bullion are liquid from the standpoint that you can get your money back. But down the road, they could be a poor choice based on how far silver and gold have gone.

I freely admit I don't have a lot of faith in the dollar right now, and I am holding gold in case all hell breaks loose. But as a "buy it and forget it" investment, they have too big of a chance of a big backward move to make me feel good about it.

For example, I bought some gold coins for my daughters when gold was about $900 an ounce. Now it's...what...$1600? (or whatever). That was less than 2 years ago! In my book, anytime something moves that fast, it can move backward that fast too. When you consider that gold over the long term in makes an inflation adjusted return of close to zero, you can understand my fear. Gold isn't something I can tell my friends to buy and put into their safe deposit box and ignore...needs to be watched constantly for a backslide.

However, nice copper coins that are well adjusted to their slabs are unlikely to backslide in price. Getting a good price on a 1909S VDB cent is probably a lot safer right now.

Steve

rhedden · January 13, 2012 7:12AM

Most Type coins with the PCGS-AU58-CAC combination are instant sells. To a dealer, those three designations coming up together are like watching three 7's come up on a slot machine.

roadrunner · January 13, 2012 8:13AM

<< I don't know much but I'd recommend Mid-grade Pcgs Barbers of about two dozen dates in all three series. Golden all day long.
Seated Quarters with the same preconditions.
You've got 3 dozen people chasing 5 coins per date with almost cult-like obsession. >>

I'd pretty much agree. The less expensive (and more underrated) 2nd and 3rd tier dates in most series from 1818-1933 are quite popular.
Nice Fines to AU's of scarcer dates. Most people can't afford the keys. Load me up with VF-XF 1898-0 Barber Quarters and 1897-0 Barber dimes for example and let
someone else have the expensive keys in low grade. Most any 1800's to early 1900's silver, copper, and nickel series is littered with still affordable better dates that are
under fierce demand.

coindeuce · January 13, 2012 8:28AM

Got any Capped Head Left Half Eagles?

OnlyGoldIsMoney · January 13, 2012 8:36AM

<< Most Type coins with the PCGS-AU58-CAC combination are instant sells. To a dealer, those three designations coming up together are like watching three 7's come up on a slot machine. >>

Even better is PCGS AU58+ CAC, provided you can find any.

lusterlover · January 13, 2012 11:32AM

<< For series I would say Morgans and Lincolns always seem to be a lot of people collecting them in almost all grade levels.

>>

mkman123 · January 13, 2012 5:57PM

Morgans have a broad appeal

TwoSides2aCoin · January 13, 2012 10:26PM

Coins with eye appeal usually are the most liquid. The ones worth face value are liquid, too. And if they're obsolete with eye appeal, sometimes they're even more liquid.
ONE example

notwilight · January 13, 2012 10:53PM

All coins are more liquid than almost any other hobby. Try selling 2 yr old skis or golf clubs. --jerry

PerryHall · January 13, 2012 11:01PM

<< All coins are more liquid than almost any other hobby. Try selling 2 yr old skis or golf clubs. --jerry >>

Are skiing and golf hobbies or sports? I'm sure there are some folks that collect antique golf clubs and other antique sporting equipment.

amwldcoin · January 13, 2012 11:51PM

<< All coins are more liquid than almost any other hobby. Try selling 2 yr old skis or golf clubs. --jerry >>

I am always asked what is a good investment in coins. My response is I don't like to recommend coins as an investment. Coin collecting is a great hobby,unlike many others which you can get a substantial amount of your money back and sometimes more than you invested if you deside to quit. Yes,some coins will rise in value as well as others will drop. I would be retired filthy rich if I could predict any market!

astrorat · January 14, 2012 12:15AM

PCGS graded MS-64-65 common date Morgan dollars and PCGS graded MS-63-64 common date Saint-Gaudens Double eagles. I think these are the most liquid and the PCGS certification would help minimize "arguing" over the grade and marketability. Other coins, such as key dates in other series may provide more profit potential, but I think Morgans and Saints are most like commodities.

Pistareen · January 14, 2012 12:27AM

In my world, Comitia Americana medals, choice Pillar dollars, and US Mint naval medals are liquid. More fun than generic Saints, I'd say!

RedTiger · January 14, 2012 12:49AM

<< PCGS graded MS-64-65 common date Morgan dollars and PCGS graded MS-63-64 common date Saint-Gaudens Double eagles. I think these are the most liquid and the PCGS certification would help minimize "arguing" over the grade and marketability. Other coins, such as key dates in other series may provide more profit potential, but I think Morgans and Saints are most like commodities. >>

I agree with the above. Generic coins that are traded in volume tend to be the most liquid.

Some of the other responses touched on some other aspects of the question. For a well connected person, most of what they trade is liquid. For a person on the outside, say an heir that inherited a collection, that seller may find a wide gap between what they sell for and what the high end collector is willing to pay. Those are not liquid coins, even though they might be for those few in the inner circle.

Another point is that virtually any coin can be a burial coin. Pay too much for the given level of quality, and it doesn't matter how liquid that particular coin tends to be amongst dealers. The person that paid too much, perhaps due to over excitement at an auction, or paying top dollar at a dealer whose business model looks for fish, has little chance of the market letting them out at close to even.

Some of the responses qualified their response by specifying a given level of quality. That is a chicken and egg answer. Price tends to go with quality, though not always. I'd guess that 20% of collectors have enough grading skill to ante up for the quality game, the lower 80% will lose their money at the table to the more skilled competitors. Pay a fair price for the quality level and the coin is liquid. Pay a burial price and it is not.

astrorat · January 14, 2012 12:52AM

<< In my world, Comitia Americana medals, choice Pillar dollars, and US Mint naval medals are liquid. More fun than generic Saints, I'd say! >>

Oh ... if we want to use the fun-O-meter, then sure!

comma · January 14, 2012 12:53AM

<< If you want liquidity, avoid esoteric coins or unusual series.

Also avoid uber grades. Although these coins sell for high prices, the market is thinner than most collectors may admit. >>

I'm by no means a dealer but I don't agree with this.
In my experience in buying and selling esoteric coins, unusual series, and high grades have by far been the easiest to sell (and most profit) and hardest to get my hands on.

To play it safe, I think the most liquid coins IMO right now are lower grade, generic date early $20 double eagles...
Oh, and 25th ASE sets

(had to)

jmski52 · January 14, 2012 1:07AM

"Liquidity when Selling - the Reason I collect Modern Bullion and Commems," by jmski.

Baley · January 14, 2012 1:15AM

Why I stopped going to coin shops and small coin shows

Me: "Do you have any draped bust coins?"
Coin shop: "Oh no, that stuff almost never comes in, and the rare times it does, it fills preferred customer want lists immediately. How about some of this nice Collector Bullion? We have lots of that, and they make more every day! There's also plenty of certified 20th century coins, and we know where to get tons more!"
Me: "No thanks, I'm looking for draped bust"
Coin Shop: "Well, if you find any, sell it to us! That stuff flies out the door!"

PerryHall · January 14, 2012 2:13AM

<< Why I stopped going to coin shops and small coin shows

Me: "Do you have any draped bust coins?"
Coin shop: "Oh no, that stuff almost never comes in, and the rare times it does, it fills preferred customer want lists immediately. How about some of this nice Collector Bullion? We have lots of that, and they make more every day! There's also plenty of certified 20th century coins, and we know where to get tons more!"
Me: "No thanks, I'm looking for draped bust"
Coin Shop: "Well, if you find any, sell it to us! That stuff flies out the door!" >>

Perhaps this dealer knows that he can make a 50% or more profit on classic coins like this but he knows that he would never get away with that kind of mark-up on bullion coins.

Yukoncornelius1 · January 14, 2012 2:40AM

<< The most liquid are the coins whose value is most derived from their precious metal content (but which still sell for a premium above spot) -- common date Saints in lower MS grades are the most obvious example. >>

Like stated above, I would add any gold coins from $5 lib's through $20 libs along with Indians selling for close to melt up to 63's

Junk silver dollars all the way to MS-65 common dates are very liquid.

I disagree on key date coins that are not rare like the 1909-svdb and 1916-D dime being liquid at full greysheet prices possibly a certain percentage back of greysheet, there are simply way to many of these coins in dealers stock for months at a time to indicate that people are actively buying them.

astrorat · January 14, 2012 3:05AM

<< "Liquidity when Selling - the Reason I collect Modern Bullion and Commems," by jmski.

>>

If liquidity is your reason for collecting, are you really a collector or more of an accumulator/investor?

ajman · January 23, 2012 10:41PM

<< Why I stopped going to coin shops and small coin shows

Me: "Do you have any draped bust coins?"
Coin shop: "Oh no, that stuff almost never comes in, and the rare times it does, it fills preferred customer want lists immediately. How about some of this nice Collector Bullion? We have lots of that, and they make more every day! There's also plenty of certified 20th century coins, and we know where to get tons more!"
Me: "No thanks, I'm looking for draped bust"
Coin Shop: "Well, if you find any, sell it to us! That stuff flies out the door!" >>

I'm not sure how true this scenario is, the reason being I had a nice 1807 draped bust 50C up on feebay for almost 2 months with absolutely no action. I had it listed as a BIN obo for 30 days and then listed it as an auction starting at greysheet ask. But what I think may have led to its eventual demise is my inability to take good photos to help the sale.

WestySteve · January 23, 2012 10:50PM

<< Why I stopped going to coin shops and small coin shows

Me: "Do you have any draped bust coins?"
Coin shop: "Oh no, that stuff almost never comes in, and the rare times it does, it fills preferred customer want lists immediately. How about some of this nice Collector Bullion? We have lots of that, and they make more every day! There's also plenty of certified 20th century coins, and we know where to get tons more!"
Me: "No thanks, I'm looking for draped bust"
Coin Shop: "Well, if you find any, sell it to us! That stuff flies out the door!" >>

Love it! "Buy what you can't find" or "Buy what you never see" should be a mantra when it comes to good coins.

TwoSides2aCoin · January 23, 2012 11:26PM

I don't know why coin dealers drink, but this thread title makes me thirsty.

kranky · January 23, 2012 11:27PM

I'll assume "liquid" implies easy to sell without having to slash the price drastically. Slabbed common date MS Saints and Morgans have to be at the top of the list. In less than an hour you could make some calls, get multiple competitive offers, and close a deal. I can't think of any other series that would compare.

7over8 · January 24, 2012 1:30AM

Bullion/Bullion related - period.
-
If anyone was around in the last big downturn - 1989-1990 ish, even generic dollars, halves, dimes in 64/65 grades werent trading well at all.

Going way back to a big bust - 1982/1983 - not much was liquid at all.

Which coins are liquid?

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