Best way to liquidate a collection

Thanks Doug, I have more than 300 coins in my collection and the value is more than $20K. I used those numbers as a general example because I don't want to declare on a public site how much money I have sitting in my home! My Koson stater alone is $2000 and a portrait Caesar is over $1000, so the premise of simply dividing 20k by the number of coins doesn't work in my case. I was speaking generally.

But I think you are right, we all think our coins are worth more than they really are...

 

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They are all worth more to me than to anyone else. They're my precious!

 

Let me add another, more computerize way, that I think will allow you to personally auction the whole set or individual coins, at your preference based on the bids you receive.

List all your coins on a spreadsheet with each type of coin on a separate tab. As others have mentioned, include a column with a retail price from an acceptable source, add a column with your grade opinion, and in another column if they have been slabbed. Add columns like mintage or estimated survival number, if you think it may help. Sort each type of coin by value. Then take high-resolution pictures of the (obverse/reverse/edge) coins and for each coin add the pictures of the coin to the spreadsheet. It may be time-saving but may cost you money, if you do not take pictures of lower graded coins. Find, through advertisement and maybe someway else like coin show participants, dealers email addresses. Also, consider sending the spreadsheet to auction houses and member of CoinTalk or other websites you know. Email the spreadsheet to all reputable dealers and dealers that are otherwise. Ask them if they would like to buy the collection or any of the individual coins. Have a column that they can fill in for their bid for each individual coin they would like to buy, another column for all each individual type of coin that they would like to buy and a place for the price of the entire collection. Direct them, in your email, which columns to fill in for the coin(s), type collections, or entire the collection that they would like to buy.

Also, consider creating a website that lists your coins and their pictures with your asking price. Setup an arrangement with PayPal to handle payments. Make all sales final with no returns.

After all of this, the question is what to do with the coins that did not attract any interest. How much of a discount are you willing to sell this for. Sell to deal or friend or coin show participant, or coin club (individuals or auction them at the coin club.) Consider donating them an writing them off your taxes. Seed them to the younger generation in your family to create an interest in coin collecting.

Hope this helps even if it is a small help

Best of luck,

King_George_VA

 

As a dealer of 30 years I have seen all methods of selling, and you've got most the advice already in this thread. But, the term 'liquidate' to me has a different connotation. One that implies an immediate need. In that case you will certainly take a huge hit to the pocketbook. Consignment would be your best bet but it takes a lot of time. Most of the big auction houses have up to a year or more backlog of material to auction. Unless the collection has some real stunners and high value, it would be difficult to even get a response from them. And often it can take a year after the auction to be paid.

Your best bet is to put out feelers with as many dealers as you can, give them your expectations and see what comes back.

 

Put a reserve on your auctions?

 

When I saw the subject line my first thought was "Aqua regia"

 

That would definitely be the fastest way!!

 

A number of online coin sites have areas where you can sell directly to other collectors. You would be selling to informed collectors, and probably not see as much of the sharp practices of Ebay, or their many rules.
Getting a price guide and a handle on value is your first step. If you are in no rush, sell off the very best coins at first, then maybe the rest in groups, with a key or semi key coin in each batch, to draw in buyers and raise the price

 

Auction house for the best/valuable material...

 

Thanks everyone for your input. I'm in no rush and haven't decided if I will sell or not. I dont need to sell. Just wanted some experiences of what you've all done. Much appreciated.

 

I've sold two different half cent collections. The second was more advanced than the first.

The first went diredctly to a specialist auction. It brought 90% of what I'd paid for the coins, and the collection was nothing special. I did better than I figured I would. My next collection was to be quality rather than completion. It wa consigned to a specialist dealerb He did not sell them all, but he did manage to break even on the whole collection. I sold the rest in two auctions, and that was where my profit was. Ihad purchased carefully, not buying anything where I didn't agree with the grade. You need to buy wisely, if you want to come out OK when you sell.

 

That'll get rid of our coins quickly.