Selling a Coin Collection

Discussion in 'Coin Chat' started by Stewartmac, Nov 27, 2010.

  1. Stewartmac

    Stewartmac New Member

    I'm fairly new to CoinTalk as well as buying and selling coins. While I have accumulated coins on a small scale over the past 50 years . . .I have never had an interest in selling any of my coins until now. My collection consists of small amounts of; penny's, nickels, dimes, quarters, half dolars, dollars, mint sets, proof sets, and foreign gold coins. Since I would like to sell the entire collection . . .would it be likely that a collector would be interested in the entire collection . . .or would I be more likely to have to work with a dealer?

    I have only posted a few times in CoinTalk forums . . .and have been pleasantly surprised by the response and interest of the members. Thank you in advance for your interest in my questions!
     
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. coinman0456

    coinman0456 Coin Collector

    If you don't know what the FMV ( fair market value ) of your collection is, than I would urge you to get at least two Dealer appraisals before committing to anyone a sale of your collection. Depending on the size of your collection, you may have to incur a dealer appraisal fee, usually based on a % of the collections estimated value. The most important point I want to offer you, is not to jump at the first offer, and like in some medical situations, you get a second opinion. I will assume, the bulk of your collection is " Raw " , which makes it a bit more time consuming and complex. Do you have a local dealer that you have built a relationship with ? Remember, only you can decide whether you want to sell items individually or as a single bulk lot collection. If you require some local dealer references, just let us know ( CT ) and I'm certain some of us can point you toward a reputable dealer. Best to you, and let us know how things are going.
     
  4. Phil Ham

    Phil Ham Hamster

    I would catalog all the coins into something like Excel and try to appraise the rough value of the coins based on grey sheet or ebay. You will probably get more for the coins if you sell them individually. I would definately recommend that you sell the high value ones in that manner such as the foreign gold coins. If you decide to sell your coins to a dealer or auction house, the key is knowledge of your collection's value. You will make a lot more money if you've done a little homework up front. Best of luck with it!
     
  5. Stewartmac

    Stewartmac New Member

    Cion man . . .what is the meaning of 'Raw'? Does that indicate an uninventoried collection?
     
  6. Stewartmac

    Stewartmac New Member

    Phil Ham . . .I have cataloged my collection in "Pro-Coin" and graded them online with PCGS. I have subscribed to the 'Grey Sheet' and in the process of comparing the values with PCGS, which I assume would be considered 'retail'. Am I correct in considering 'E-bay' to be the auction or retail value?
     
  7. coinman0456

    coinman0456 Coin Collector

    " Raw" = not graded and encapsulated by any of the professional grading services ie, PCGS, NGC or a host of others .
     
  8. Phil Ham

    Phil Ham Hamster

    I consider ebay market value assuming your pricing on coins that are sold (not the buy it now price). It is the way that I price my coins since I don't want to pay for the grey sheet.
     
  9. Stewartmac

    Stewartmac New Member

    Thanks CoinMan!
     
  10. Stewartmac

    Stewartmac New Member

    Thanks Phil Ham!
     
  11. cerdsalicious

    cerdsalicious BigShot

    Numismedia is fairly spot on as well if you want to give them a try to assess the coin values.
     
  12. KennyMac

    KennyMac 82nd Airborne Division

    Word of caution....with coin collections, (and pretty much anything else of value), be security conscious in your efforts to sell your coins....public place, bright lights, etc. if making a sale to a private individual that you don't know.

    This is NOT to scare you......it's merely a public service announcement (because there are some unsavory individuals out that wouldn't think twice about taking what isn't thiers).

    The people here in this forum are a great bunch of guys and gals (with a boat load of knowledge), and I'm sure they can help you locate a good venue to conduct your business so you are as comfortable as possible......


    (I grew up in Los Angeles, so I'd have at least two anti-sniper teams in overwatch positions...but thats just me being me).
     
  13. Vess1

    Vess1 CT SP VIP Supporter

    Probably depends on how large the collection is. The larger it is, the harder it will be to sell it all together. This question has come up many times across many hobbies. When somebody wants to get out, they just want it to be as easy as possible so they want to sell everything in one deal and walk away. This rarely happens. Normally it isn't easy and will take some work.

    If I was looking to sell a specific set, I probably wouldn't break it up. But individual foreign gold coins and others, you might try listing in the classifieds here. I'd try that first for free. Easy enough to just list out what you have with prices. See what sells. Take the rest to ebay. I wouldn't do coin deals through craigslist.
     
  14. Texas John

    Texas John Collector of oddments

    In order to get full value for what you wish to sell, you should strive to know as much about it as those who offer to buy it.
     
  15. Stewartmac

    Stewartmac New Member

    Thanks Kenny . . .I know where you're coming from . . .I grew up in South Philly. Thanks for the advice. I'm comfortable with relying on the advice of the members.
     
  16. saltysam-1

    saltysam-1 Junior Member

    If entry is feasible from a time standpoint, I would copy your collection into Heritage Auction Gallery's spreadsheet program. Their program will give you multiple values at retail, wholesale, TPG and average auction prices. You can then print out a copy and take it with you when discussing your collections' value.
     
  17. Mr. Coin

    Mr. Coin Member

    I have a fairly extensive collection of lower grade and older raw canadian coins that I'm planning to sell after the new year. My plan is to have a full inventory in an excel spreadsheet with date, grade, and notes on condition, and email the list to a variety of reputable dealers for a bid. Then ship coins to the highest preliminary bid for confirmation. Any thoughts on whether this is the right approach?
     
  18. 10gary22

    10gary22 Junior Member

    Bust it up, take advantage of the free listings on eBay, set a start bid on each coin and start selling it off. You will get a better return by far and the market auction should take the prices where they should go. IMHO

    gary
     
  19. Stewartmac

    Stewartmac New Member

    Thanks Sam. . .I'll look into it.
     
  20. coinman0456

    coinman0456 Coin Collector

    All the dealers I know, would not quote prices simply from a spreadsheet inventory. Take a few moments and read this entire thread, perhaps you might apply some of our suggestion to fit you needs. You might find that if you decide to get some of those " lower grade" Canadian coins, graded, generally I find that it is typical for U.S. grading companies to over-grade Canadian coinage. Something to consider.
     
Draft saved Draft deleted

Share This Page