I'm currently waiting for an unique error coin to be submitted to one of the major grading services. My question is, I'm well aware of the Heritage Auctions, but I would assume they have a limited number of error collectors. Are there any elite major error coin auctions out there or would someone like Heritage be my best bet? I guess you have nothing to lose on ebay with a reserve price to start with, but I'm just concerned that a limited number of error collectors would actually see my listing since they would have to be using the keywords that describe my coin.
First, welcome to the neighborhood! Honestly, I'd be surprised if you got too many sincere responses to your question without posting photos. How is anyone to know if your error is even worth submitting for grading, let alone consignment? Chris
I think Heritage does quite well, generally. My impression, though, is Stacks Bowers realizes better prices, but there error offerings seem very limited. If you sell on eBay, please don't use a hidden reserve - just start it at your lowest acceptable price. It will be seen, I assure you. There are a number of error collectors constantly perusing eBay errors. I think the error market is very soft now. Others may see it differently.
First, get it into a slab as a "unique" error, because that will help determine what sort of value it'll realize in the open market. The higher that value - which we cannot help estimate since we've no idea of the nature of the "error" - the more likely you'll find better results with one of the bespoke auction houses. May we assume you've had the coin vetted by a real-world expert in the field?
If you haven't been to Cointalk before, my guess is that you are not a very experienced collector, and may have an error which, while it may be unusual, may also be far from unique. If that is the case, you are likely to have a hard time convincing Heritage or any other major auction house to consign it to one of their sales. For that reason, I agree with prior posters that you should describe it, or post photos so we can better direct you.
Ya hadda go down that road . . . You're right, of course, but I'm just trying to keep things simple by helping the OP understand that, unless he has a very unusual error type, an error type that is nearly unique within a series, or an error with extraordinary visual appeal, it is not likely to be major auction material. Think of the differences in value of an off center Lincoln Cent, clipped Jefferson Nickel or partial collar Ike Dollar versus the value of an off center SLQ, broadstruck WLH or clipped Half Eagle. While the OP might consider all six of the above described errors to be unique, Heritage, Stacks, Goldberg, Sothebies and Legend would all chase the latter three, but not the former three.
......and I can't count how many times we've had beginning error collectors say, "I've never seen anything like this before!" Chris
And high values for errors tends to be more for "spectacular" errors rather than "unique" errors. Oftentimes hype is more important than rarity.
It is very hard for anyone to tell you if you have a high value coin with out seeing it. There are so many manufactured over strikes, doubled sided obverses, reverses,extra images, etc. that most experienced will recognize such rather easily. So unless we have an idea of what is the coin, our opinions are not of value. Some people are cagey about showing it as it is not theirs, perhaps already in an auction or belongs to another. But we still can not help. Look at the charges by major firms to auction, and you will see why few go that route. Jim
We answer questions about which auction house a lot. Go back and look at past auctions and especially prices realized - you'll see each auction house and each type of auction has a niche. It mostly relates to pricing (i.e. the average coin at Heritage's signature live auctions are much more expensive than the average coin at Heritage's weekly Internet auctions, with the average coin of their Internet-only sections of major auctions in the middle). Also check Stacks-Bowers, Legend, Kagin's and Great Collections.
