Do Coin Shops Buy High End Coins?

This is just my opinion, but if I were looking to sell a high-end coin, a B&M would be the last place to go on my list (excluding a dire emergency.) They have overhead that the online dealers don't have, and therefore, their price offerings would probably be the lowest of all unless they knew they had a buyer for an instant profit.

Chris

 

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Wise dealers don't buy everything that walks in the door. They buy what they know they can turn. They can't make money if it sits in the case for years.

 

Indeed they do, I know for a fact that my local yokel dealer will buy them because he has called me when he has to show me what came in to see if I want some of them.

 

Ill just give eBay a go first .. i think that will bring in the most

 

I really like dealers like that. Wish I knew one in my area.

 

Sold some graded Large Cents to the local dealer. They bought based off the grey sheet - before I went in I priced them off my grey sheet. I was within a few dollars. It was an emergency or I would not have sold them the coins. The local shop listed them on ebay that same day. In most cases they sold a week later and doubled their money. What is real funny is some where bought off EBAY and immediately relisted on EBAY with buy it now prices of double what they won them at. I never did see them sell again.

Here are my thoughts on selling - if you do not want to sell yourself:
(1) Consignment with the right seller. This will probably net you the most money, but will take you the longest to sell. If you have time this is a good way to go.
(2) Use Heritage - but be aware that common date, common grade coins might very well end up in a Tuesday or Sunday auction. You might try to work with heritage. In the end my consignment I paid 5% commission to them.
(3) Local coin shop - get money the quickest, but might lose the most money also. Quick, easy and a painless process.

I still sell to the local shop - for example some raw coins not worth a lot or extra coins from ebay auctions. I just take them down there to unload them. Not a whole lot anymore. All of the graded stuff will go to heritage and hopefully one of their platinum type auctions.

 

oh wow I thought more would be graded

 

Here is my high end OTC purchase from a small town dealer, lettered edge variety:

 

I'll never sell slabbed to my LCS. The guy there wanted to give me 7.00 for a 2011 PF 70 silver kennedy NGC. He said he'd most likely crack it out and sell it. LCS's in my area don't care about slabbed anything. Modern anyways. He didn't even know what a Type 1 or Type 2 Franklin Half was! Once I explained to him he said, "I've never heard of that." editedYou supposedly have a family shop that's been around for 35 years and he didn't know that? Find that hard to believe. I don't think I am going back there.

 

My LCS treats modern items like ASE, etc as bullion even in the slab. I think a lot of them do that. Not sure about other modern coinage with my LCS, but I am not sure how interested they would be in it.

 

hahah that is so cruel hahahah

 

Do Coin Shops Buy High End Coins?


ask Matt -- Have you seen his stuff?

[Lost Dutchman]

 

Shut up, shut up, shut up, shut up, shut up, shut up, shut up!

Stay away from Lost Dutchman, I have bought some nice stuff that has crossed his counter and I really am territorial!

 

Don't even think about selling a 1908-S MS65RD IHC to a local coin shop. They will never pay you even close to what it's worth in the open market. As cpm9ball said above, a local coin shop is the absolute last place I'd sell most anything in my collection, unless I needed money really really fast, and with the expectation that I'd get offers that would make me cry doing it.

 

Actually there is a member here that specialises in cents - PennyLady or Charmy and she has really really nice stuff. She is who you would want to see about the '08-S IHC.

 

Anyone have the grey sheet on a 1889-CC AU 50 PCGS

 

In about an hour i'll be home

 

it depends on if the dealer has the money.

my coin club president who is also a dealer braught in a slab box completly full of coins that had a value between $500 and $3000 a piece ungraded that he had just baught that day. had to be atleast 30 or 40 coins