How to transition my collection? I’m seeking some advice from knowledgeable collectors and hopefully some dealers. I have a bunch of lower end coins, and would like to move into some higher end (key-date) pieces, for a few reasons (lack of space, lack of interest in so many duplicate/similar coins, etc.) Specifically: Phase 1 - Sell a lot of Wheat Cents, Buffalo Nickels, Silver Nickels, 40% silver Kennedy halves Phase 2 – Sell junk 90% silver, Kennedy and Franklin Halves, Washington Quarters, Roosevelt & Merc. Dimes Phase 3 – Sell smaller quantities of extra Indian Head, V-Nickels, Foreign Coins, silver dollars, etc. Situation: I don’t NEED to sell these. I don’t want to take a huge loss for being lazy, but also given that in Phase 1 and 2, there are hundreds of coins each, it’s probably not worth the time to photo and list each separately. I don’t check for errors-if I see really obvious errors (naked eye), I’ll set them aside, but I’m NOT a cherry-picker. I do recognize that a reputable dealer needs compensated for their work and margin. I don’t want to be a dealer and unless really justified, don’t want the expense of buying equipment to get good digital photos for a one-time liquidation. I don’t think I have a Local Coin Shop in my area, but let me know if I’m wrong. What are your thoughts and recommendations for how to go about this, specifically Phase 1 and 2? What kind of fee is fair for both sides? E-bay? Online-mega-wholesaler? CT classifieds? Craigslist? Magazine Classified Ad? Other? P.S. If your recommendation is to go with a local coin shop, and you know of one you like in my area please let me know (private message). Thank you!
Well CT would be the cheapest place to sell, except for the 2.5% paypal chargers, unless you do gift, then it's free. However there is no buyer protection with gift, so don't allow gift for someone on here with 2 posts. Money order would be free, but don't ship it out until you get it. The common stuff, worth $2-$5 or less, I would offer in lots, then sell the $5 and up stuff each. You don't need to photograph each coin, depending on the quality of your camera, take a photo of 5 coins in a row, and price them each in paint or something. You don't need a good camera if your selling junk silver. People will buy it even without a photo. P.S. I was the same kind of collector you use to be, then I realize instead of having 400 coins worth a dollar, I could have 4 nice coins worth $100. Quantity Vs Quality is a big player here.
I just did something similar myself. I sold someone a bunch of 40% halves to buy 90% coins with the profit. I agree with Detecto that having quality is better than quantity. I personally have more joy with higher end coins that multiple lower end coins.
Oh, I agree, and I'm trying to move in that direction, but getting from point A to point B is the question. I guess I'll just have to start sorting them into lots and taking photos.
Ive been using the trades section and for sale section here on CT to upgrade my collection. Its worked best for me to wait until you see the for sale ads that say make offer or open to trades as it seems the for sale section has better coins available than the trades section. I recently picked up 3 new coins that I wouldnt have been able to obtain without trading as I didnt have the money at the time. Now we are both happy, they got $XXX.XX in bullion and junk silver from me and I got 3 coins, one of which has turned into one of my new favorites. Point is, sometimes you dont need to sell everything to get what you want, there are plenty of collectors and dealers up here who are just as willing to trade for what you need. Plus in your situation especially with the silver you have a small edge. Numismatic grading and pricing is very subjective, whereas silver price has trended up for awhile now, so trading bullion for 'nicer' coins has mostly worked well for both parties without losing money in selling and fees and too much time involved.
