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10-20-2009, 12:44 PM
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#1 (permalink)
| | Trying to sell collection
Join Date: Oct 2009 Location: Fort Myers, Florida
Posts: 14
|  Introduction from new member.....
Greetings!
I came here seeking advice as to how I may sell a small coin collection a lady friend of my was left by her Father, who was a ccoin ollector for many years.
This woman has a brother, and they split the small collection. He already simply sold his half to a dealer and moved on. My friend kept hers because of the attachment with her father. But, now after about five years feels she should go ahead and try and simply get a fair price for it, using the funds to remodel her bath, as a gift she can enjoy from her father.
My father was a life long stamp and coin collector, so I have a great deal of experience watching him buy and sell. Knowing how complex it all truly is, I am merely, humbly seeking advice from anyone who may care to share, just what is the best way to get a "fair" selling price for my friend......
Anyone who may be willing to advise me I would be grateful to......I am starting at ground zero........But it is a very small group of coins, I can pick them up with two hands in a box I picked up from her Sunday....Maybe 40 lbs of coins lets say as a guess....30 to 40 lbs....?
Any help or interest can be directed to my email, or two IM messages or cell phone at any time as I have them listed........
Thank you for this sight and any help I may find here.......
Bruce Grumney
brucegrumney.........AIM
brucegrumney......Yahoo IM
Bruce not a very good idea to put out your personal email and cell on a open web forum, so I have removed them
If any one wishes to contact you they can do so via PM then if you wish to give out details all well and good :-)
Last edited by De Orc; 10-20-2009 at 01:57 PM.
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10-20-2009, 12:53 PM
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#2 (permalink)
| | Numismatist
Join Date: Sep 2007 Location: Alabama
Posts: 2,846
My Mood:  |  1st Welcome
To Cointalk!!!!!!!!!!!!!!!!!!!!!!  :thumb :
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no one right 100% of the time  
***The only dumb question is the one not asked***
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10-20-2009, 12:56 PM
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#3 (permalink)
| | Trying to sell collection
Join Date: Oct 2009 Location: Fort Myers, Florida
Posts: 14
| Reply to "jello"
Thank you for your warm welcome!
Bruce Grumney
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10-20-2009, 12:58 PM
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#4 (permalink)
| | Trying to sell collection
Join Date: Oct 2009 Location: Fort Myers, Florida
Posts: 14
| Good morning.........
"Tater"...thank you very much for saying hello.........
Bruce Grumney
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10-20-2009, 07:09 PM
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#5 (permalink)
| | Numismatist
Join Date: Nov 2002 Location: PA
Posts: 23,528
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Howdy Bruce -
As you have already guessed it can be complicated to sell a collection. But it can be very easy too. The complicated method, and one that usually takes quite a long time, is for you to sell to other collectors. While this will probably net you more money in the end, you have to do all the work.
The easy method is for you to take the coin to a dealer and just sell them.
Now, how either of those ways go will depend largely on what is in the collection. So the best place to start is for you to make a list. In the list provide denomination, date, mint mark, and your best guess as to condition. Then we can tell you what coins you need to take pictures of to show us and what ones you don't. And keep in mind, the pictures need to be large enough and clear enough for us to be able to judge the coins based on those pictures.
If it sounds like a lot of work - just to get that far - it is. But you need to know that going in.
Most people in your position decide to just take the coins to a dealer and sell them.
Up to you, and your friend of course.
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knowledge ..... share it
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10-20-2009, 07:26 PM
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#6 (permalink)
| | Trying to sell collection
Join Date: Oct 2009 Location: Fort Myers, Florida
Posts: 14
| Quote:
Originally Posted by GDJMSP  Howdy Bruce -
As you have already guessed it can be complicated to sell a collection. But it can be very easy too. The complicated method, and one that usually takes quite a long time, is for you to sell to other collectors. While this will probably net you more money in the end, you have to do all the work.
The easy method is for you to take the coin to a dealer and just sell them.
Now, how either of those ways go will depend largely on what is in the collection. So the best place to start is for you to make a list. In the list provide denomination, date, mint mark, and your best guess as to condition. Then we can tell you what coins you need to take pictures of to show us and what ones you don't. And keep in mind, the pictures need to be large enough and clear enough for us to be able to judge the coins based on those pictures.
If it sounds like a lot of work - just to get that far - it is. But you need to know that going in.
Most people in your position decide to just take the coins to a dealer and sell them.
Up to you, and your friend of course. | Thank you for your input, ideas and understanding of it all. At this point I am putting together an inventory as that seems the best thing at this point......
Thank you for your advise...one step at a time......
Bruce Grumney
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10-20-2009, 07:31 PM
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#7 (permalink)
| | Online Dealer & Analyst
Join Date: Aug 2009 Location: Los Angeles, CA
Posts: 1,446
My Mood:  | Quote:
Originally Posted by Bruce Grumney Thank you for your input, ideas and understanding of it all. At this point I am putting together an inventory as that seems the best thing at this point......
Thank you for your advise...one step at a time......
Bruce Grumney | Good luck Bruce, I'm on AIM whenever you want to chat about coins.
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Wisdom from the Bull & the Bear(BNB): "Always find the true value of your investment. How you may ask? By seeing what others like us are willing to pay for that same item. Forget dealer's opinions and price guides; the real value comes from what we're willing to pay from sites like ebay or heritage.."
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10-20-2009, 12:54 PM
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#8 (permalink)
| | Coin Collector
Join Date: Jul 2007 Location: Utah
Posts: 1,624
My Mood:  |
Welcome to CT
__________________  Roll Searching Since July 2007 2310 rolls halves 125-40% halves 30-90% halves | |
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10-20-2009, 01:07 PM
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#9 (permalink)
| | Coin Hoarder
Join Date: Dec 2008 Location: Knoxville
Posts: 1,266
| You got to first make a list and don't bother with the stamps
You got to first make a list and don't bother with the stamps unless they are plate blocks from before 1920 in gem condition with plenty of study holders or other notes associated with them - if the stamps are cancelled they are not worth even messing with - if they are very valuble and he was a collector there will be documentation of such.
You can go to the library and make a list of your coins using a Red Book which you should find readily availble there.
Sort them into cents, nickles, dimes and so forth. Ask the other person what he got from his half of the stuff, if very little then theres not much use to bother further just sell them. Sooner or later you will have to find someone to trust, a dealer or a local coin show should do fine.
Aagin if the man was a collector and the items are very valuble there will be notes or special holders associated with the items - if all loose and all after 1924 or so your not going to have much anyway. As you go thruogh the Red Book the valuble coins will jump out at you say a 1914-D Lincoln. That will tell you it's special as you go through the series of coins - each series has rare coins in it, some only one or two and none after 1955.
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Owner/Operator The Knoxville Coin Show
Longest running Coin Show in the south now for over 27 years! | |
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10-20-2009, 02:06 PM
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#10 (permalink)
| | Trying to sell collection
Join Date: Oct 2009 Location: Fort Myers, Florida
Posts: 14
| Quote:
Originally Posted by bhp3rd You got to first make a list and don't bother with the stamps unless they are plate blocks from before 1920 in gem condition with plenty of study holders or other notes associated with them - if the stamps are cancelled they are not worth even messing with - if they are very valuble and he was a collector there will be documentation of such.
You can go to the library and make a list of your coins using a Red Book which you should find readily availble there.
Sort them into cents, nickles, dimes and so forth. Ask the other person what he got from his half of the stuff, if very little then theres not much use to bother further just sell them. Sooner or later you will have to find someone to trust, a dealer or a local coin show should do fine.
Aagin if the man was a collector and the items are very valuble there will be notes or special holders associated with the items - if all loose and all after 1924 or so your not going to have much anyway. As you go thruogh the Red Book the valuble coins will jump out at you say a 1914-D Lincoln. That will tell you it's special as you go through the series of coins - each series has rare coins in it, some only one or two and none after 1955. | Thank you for all your information and direction........This "red book" you speak of.......I assume that is a pricing catalog of sorts..is that what it truly is called when I ask for it?.............Respectfully, Bruce Grumney
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10-20-2009, 01:20 PM
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#11 (permalink)
| | Coin Hoarder
Join Date: Mar 2005 Location: TX
Posts: 1,139
My Mood:  |
Welcome to the forum Bruce! As you said selling coin can be very complex specially if the coins are raw (not graded). Most Dealers will not give you the full value of the coins because the will not spend the time that it takes to grade more then a few coins at one time. Your best bet to get the full value of the coins is to buy a red book and look the coins up. You can also post pictures here on CT and we can help determine the grade and value of the coin you need help on. After determine the grade of each coin you can post them here on the Open Forum or sell them on ebay or both. Good Luck and let us know if you need help.
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10-20-2009, 02:06 PM
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#12 (permalink)
| | Trying to sell collection
Join Date: Oct 2009 Location: Fort Myers, Florida
Posts: 14
| Quote:
Originally Posted by andy21us Welcome to the forum Bruce! As you said selling coin can be very complex specially if the coins are raw (not graded). Most Dealers will not give you the full value of the coins because the will not spend the time that it takes to grade more then a few coins at one time. Your best bet to get the full value of the coins is to buy a red book and look the coins up. You can also post pictures here on CT and we can help determine the grade and value of the coin you need help on. After determine the grade of each coin you can post them here on the Open Forum or sell them on ebay or both. Good Luck and let us know if you need help. | Thank you for all your information and direction........This "red book" you speak of.......I assume that is a pricing catalog of sorts..is that what it truly is called when I ask for it?.............Respectfully, Bruce Grumney
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10-20-2009, 02:18 PM
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#13 (permalink)
| | The Coin Troll
Join Date: Nov 2004 Location: Dallas
Posts: 2,506
| Quote:
Originally Posted by Bruce Grumney Thank you for all your information and direction........This "red book" you speak of.......I assume that is a pricing catalog of sorts..is that what it truly is called when I ask for it?.............Respectfully, Bruce Grumney | The "Red book" is the proper term to use if you go into a coin shop as they will know exactly what you mean. However if you go to a book store, the proper title of the book is "A Guide Book of United states Coins" by R.S. Yeoman
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10-20-2009, 02:49 PM
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#14 (permalink)
| | Trying to sell collection
Join Date: Oct 2009 Location: Fort Myers, Florida
Posts: 14
| Quote:
Originally Posted by The_Cave_Troll The "Red book" is the proper term to use if you go into a coin shop as they will know exactly what you mean. However if you go to a book store, the proper title of the book is "A Guide Book of United states Coins" by R.S. Yeoman | Thank you so much.I will certainly pick one up!.......Bruce Grumney
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10-20-2009, 01:52 PM
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#15 (permalink)
| | Supporter**
Join Date: Sep 2005 Location: Michigan
Posts: 7,999
My Mood:  |
Welcome to the forum - and best of luck 
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