This Sunday is a special day for me. They will be selling the last two coins out off 1000 coins they have listed for me. It was a long road but it's been fun. My part was really easy. Great Collections did the hard part. They took care of sending coins for grading and helped pick coins that went to CAC for the bean. They took care of the images, got the coins listed and sent me a check a couple of weeks after they sold. I made money on most every coin and some brought crazy prices. Even the details graded coins brought good prices. Now it's time for me to take a break from selling and take care of other important projects like posting more here on CT and working on houses. I still have about 2000 coins that need to be sold but that is now on the back burner. The team at GC have been great to me in helping me reach my goals. If you have any questions, they are good at getting back to you with answers. If I can be of help to anyone, please just ask.
I always have had great experiences with GC. #1 source of the coins for my collection. My only problem as a buyer is that everyone knows how good GC is, and in the past few years, I am constantly the underbidder due to how popular it has become.
I can't even imagine working on a 1,000 coin offloading. Must have been a lot of work for you before the coin even got to GC, assuming there was a cataloging and documenting process prior to them taking possession. Was it fun watching the coins close, or did you simply check the end results after each week?
I'm still planted mostly in the buying phase of my coin collecting journey. I do sell occasionally, though, and have done so using GC (Teletrade before them) a few times and was quite pleased with the results. Top notch people to deal with, in my opinion.
My only experience with GC is being outbid, but that's ok. I enjoy looking at the great coins offered there. I'm glad to hear they are good to deal with. I may be off-loading some coins someday.
I'm using a coin program called Coin Elite. It's great for keeping track of everything. I also used Excel to keep track of my cost basis on each coin. I watched some of the auctions trying to get an understanding of the bidding habits. Didn't learn much from it. It did seem that there were fewer last minute bidders on GC.
I just tested the water with GC. I sold 7 coins so far- most were already CAC. What was funny was the one I thought they might send to cac was not selected to go. The one I thought would not go - did get sent, but no luck, but was hopeful. So I have more to sell - I gotta see which of my 2 centers I will keep for my type set and which will go to them. So bottom line: I did not receive the email that showed they received my coins. But they state they have issues with that email provider. So I have now changed it to my gmail address. I called them and the help desk showed me how it works and all is good now. Next time I know where to look. First batch I asked how much they might bring. The range was a little high but if that last coin takes off just a little I will be really close to the lower end of the estimate. Of course I had hopes of the high end - but I thought it was a stretch. Then again - I know anything can happen at auctions. With heritage the quote was a little more accurate and was broken down by date, etc - of course I am not sure they do that anymore. Plus heritage can take so long to settle everything. I also don't like that heritage will determine which auctions the coins go it. The process was so easy I like it better than heritage. Of course I don't have thousands of coins - but I might see about some raw coins I have, I am just not sure some of them are worth the effort for minor varieties. So I am going to keep thinning the type set down to certain coins. I think great collections will be were I release those that get upgraded or where I have extras.
Larry, you prob posted somewhere but if you did I missed it. Are you liquidating your collection? That is something I need to start thinking about. I just have a tough time switching the mind set from a life time of collecting and hunting to giving it all up. I may need to pick your brain one day.
Over the past 60 years my collection grew to over 8000 coins. My plan was to leave it all to my son. He understands the hobby really well but now I feel that would not be fair to leave my mess for him to clean up. He will have his hands full taking care of the rental property that will be coming his way. I have everything set up so he will own everything at market value as of the day I pass. He won't have to pay taxes on the gain like I'm having to do. All the funds from selling will be used to buy a small group of really nice coins. Quality over Quantity. I'm now down to about 6000 coins and hope to start selling again the first of the year.
That’s a ton of work just trying to decide which are to go. 8000 is an enormous amount of coins to sift through. I’m sure your son appreciates all your work. I have far fewer, but enough that would give my wife a terrific headache if they suddenly landed in her lap. She has no numismatic knowledge whatsoever. I’ll have to time my sell off as close to my demise as possible without going over. I want to enjoy them as long as possible.
Good luck on the selling. You are one of the reasons I gave GC a try and it worked out great. I am doing the same thing - but failing so far. I am down to about 130 graded coins. So I continually add and sell. Eventually I will have to decide which go and which stay( I mean I really don't need 3 CC dated morgans in my type set). My albums stay and I don't count those coins - as a matter of fact I do not even track those coins. Most whitman albums and such - those will go to my brother (assuming I go first).
The software program I'm using is the best thing I ever bought. It tells me the exact location of every coin. I can view everything and flag what is next to sell. There are probably a hundred different ways it will sort things. Once a coin is sold I can flag it and it is moved to a different file.
