Selling my coins. What to expect?

I'm looking to pay off my car and re-focus my energy on toned Franklin Halves which is my favorite series. All in all I probably have around 8-10k in numismatic value that I want to move. I'm just curious what I could expect from a dealer (Brick and mortor). Otherwise I spoke with my boss at the pawnshop and he said he would allow me to sell them from his ebay account at a 10% fee. With the 9% seller fee already this would put me at a disatvantage of around 19%. How would this compare to selling to a dealer? One of the coins is a very nice VF-35 Draped Half.

Thanks,
~Jason

 

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If you want full potential resell value, create your own eBay account or other auction account to sell them. A dealer would likely offer anywhere from 80% or lower (usually dealers will pay 50%-80%, think of Pawn Stars haggling, they got to make money) for everything.

Expect money though, but don't set you're expectations too high, you may not get all of what you paid into the collection.

 

I am very interested to see more knowledgeable responses than mine...which is that I've seen LCS pay around 20% under their list.

 

I would test the waters right here on CT (the advertising section "for sale" allows one post per week... but you may list multiple items). Seems to me you would get a higher percentage of value than if selling to a B&M.

 

List them for sale here or list them on craigslist. No fees either way.

If you sell them on craigslist, just be sure to deal locally, in a safe location and remember that cash is king!

If you don't want to do craigslist, I don't think I would use your boss' FeeBay account. You are correct in that fees are high enough already and an extra 10% is going to be hard to overcome. Unless he's going to do all the work for you, i.e. listing the coins, taking payment, shipping the coins, etc, then he doesn't seem to be doing you any favor by letting you use his account and charging you for it.

Local coin dealer? I'd probably avoid doing that simply because you will not get anywhere near top dollar. IMO - When selling coins, local coin dealers are good for two things: People that need money fast, and people that inherited coins that they have no interst in. Some coin stores are better than others, and yours could be an exceptional coin store. You could always take them in and ask them what they'll give you for them. No harm in that.

Do you have a FeeBay account at all? If not, create one, buy a bunch of low price items to get some feedback, and then list your coins. Slowly at first to see if they sell for as much as you want them to. If you take good pictures, give good descriptions of the coin(s), explain your policies, and I don't think you'll have a problem. I don't really care if a seller only has 10 feedback points. I know that FeeBay has my back as a buyer and I'll get my money back if something goes wrong and I think there are enough buyers out there who feel the same that you won't have a problem selling them.

 

Your boss wants to charge you 10% to use his ebay account? Guy sounds like a real sheister.

I've been wondering why people do not make better use of this forum for buying/selling coins. Personally, I would list everything here and see how it goes. You could hold out for retail, or you could let stuff go for a bit cheaper if you want to move it quickly . In the end though, you will be getting more value out of your coins by selling them here as opposed to a dealer or ebay. A dealer will have to make money off of you, and ebay will fee you to death. Make a list of everything you have, estimate a grade, and determine an asking price. Post your list in the for sale section and have pictures ready to provide for people that show interest.

Although, if you do not have your own ebay account then I assume that you also do not have a Paypal account? That could make things a bit of a pain, but still doable.

 

this may help- http://www.cointalk.com/t208221/ also on Ebay bundle like coins into larger lots- that will reduce hassles (definitely go with Ebay)--oh and use your own account- do not give 10% - his feedback is probably not worth that

 

As other have said use this forum first before listing them anywhere else. Make a list of the coins you are selling and post them up. Your boss is a real piece of work to charge you that much. I bet he's going to make you pay the paypal fee too.

Also remember that there are lot of buyers on ebay taking advantage of ebay's system. You may end up losing lots of money and time dealing with ebay nowadays.

 

Ebay is doing ok by me

 

Your best bet would be like the others have said and list them on here first. What do you have to lose its free. I have had nothing but good luck listing and buying on this forum.

 

Why would you use someone else's Ebay account? It's free and easy to set up your own.
dittos try here on CT. Ebay charges 9% on your coins AND shipping so if you list and get 9% less here, you are still $ ahead. and you can list for what you think its worth and you may get it. If it sells, so much the better.
Remember, good pictures bring good prices. Pour pics leave lots of doubt, and so lower prices.
If you want to sell fast, you can always sell at 20% below market, here, dealers, or Ebay, lots of ways to sell cheep. If you have a little time, you may fetch market, but you have to be more patient.

 

I was going to use the stores ebay account because they have a limit of 15k per month where my ebay account is capped. I'll be very patient because I plan on investing this money into high quality toned Franklins.

 

Post that draped half on the advertising section.edited

 

If you are willing to be patient then a monthly cap shouldn't really matter, using your account will just take more time. But either way, why pay fees when you can list then here? Are you planning on selling your coins auction style, or will you be selling with Buy it Now? I just do not understand why people in this forum would sell coins on Ebay with a BIN without listing them here first.

 

edited

 

If they don't sell here, list them on your own account and post a link to your auctions here. Do not pay a fee to use your boss's account. And a B&M dealer will most likely give you much less than you'd get in an ebay auction, from my experience.

 

If they're raw, silver coins, the B&M will offer under spot.

You're better off selling them yourself on eBay, or your local craigslist.com if you want to avoid eBay fees.

 

Unless any individual coin is overwhelmingly outstanding or perhaps unique, whatever venue you choose expect that others probably won't view the coin as highly as you do. You will probably have a tough going to recoup your original outlay. Unless your under dire financial needs, be patient . In the meantime, I would suggest joining a local coin collecting club and become familiar with the members. They usually have a monthly auction, so that may be a good venue to test the waters. Best of luck .