CoinTalk

Welcome to Coin Talk! Register Now, it's easy and FREE!

Thousands of coin collectors, numismatists, coin dealers, bullion investors, and enthusiasts make Coin Talk their number one source for numismatic news, information about US and world coins, discussions and community.

You are currently viewing Coin Talk as a guest, which limits your access to content, contests and information. By joining our free community, you will be able to join in discussions, contact other members, place free advertisements, enter contests, and much more. Registration is easy and free. Register Now


Go Back   CoinTalk

Notices

View Single Post
Old 10-07-2004, 11:01 PM   #5 (permalink)
GDJMSP
Numismatist
 
GDJMSP's Avatar
 
Join Date: Nov 2002
Location: PA
Posts: 23,515
notacoinguy -

If you choose to use an auction house - and I don't care which one - be it B & M or Heritage or 95% of all the others - you will end up paying them fees to sell your coins, usually about 15%. Not that there is anything wrong with that as they are providing a service. But it has not been mentioned yet. There are a few auction houses now offering to sell collections with no fees. This is almost unheard of - but the offers are being made.

Secondly - it has been suggested that the auction house will come to you to appraise the collection. This is true - if the collection is worth enough - usually $100,000 minimum. It does not sound like yours is. So they likely won't come to you - unless you live nearby to them.

This being said - someone in your position should never consider trying to sell the coins yourself. You need either a dealer or an auction house. If you go to a dealer - they are going to offer you approx 15 - 20% less than wholesale. If you go to an auction house - most of them are going to charge you 15% to sell your coins. So either way - you pay. Unless of course you use one of the houses who are not charging fees.

As for the coins being in old slabs - yes - some of them may get upgrades if they are re-submitted. Some of them may get downgrades as well. There is no certainty in this. It is a gamble - plain and simple. You could win thousands or lose thousands.

Now you say you could take the collection to 5 dealers - if this is so - you likely live in a fairly large city, otherwise there would not be 5 dealers. Given this - I would shop around and get their bids. I would also contact the auction house closest to you and ask them for a bid. If you are close enough - they may come.

Now I am going to say something no one else likely will. It is my belief that the coin market is on the eve of a substantial downturn. Not many agree with me. But - if it turns out I am correct then prices are going to drop. And when they do - they drop quickly. So it may not be wise to wait for an auction in Jan. or Feb. Given this - were it me - I would sell to the dealer with the best offer and sell now - or soon.
__________________
knowledge ..... share it
GDJMSP is offline   Reply With Quote
 
» Newsletter
Sign up for CoinTalk's Newsletter
enter your email address below.
» Unanswered Posts
Do You Have the Answer?
» Sponsors

» Today's Top Posters
Top Posters in Last 1 Days
[29]
[25]
[21]
[19]
[17]
[12]
[11]
[11]
[10]
[10]

All times are GMT -4. The time now is 01:04 AM.


vBAdvertise v1.0.0 Copyright ©2009, PixelFX Studios
vBCredits v1.4 Copyright ©2007 - 2008, PixelFX Studios
Copyright 2008 CoinTalk
"Wiki" powered by VaultWiki v2.5.0.
Copyright © 2008 - 2009, Cracked Egg Studios.