I recently put an ad up on CL saying that I was looking for foreign coins and I have had a few responses but I am struggling on figuring out what is the best way to get a fair price to me and the seller. What is a fair price for bulk coins? Should I ask the seller if they are modern/old? Just curious some opinions. Not wanting to lowball anyone and of course not trying to overpay too. Thanks for the opinions.
Completely depends on the coins. I have never had good luck with cheap mixtures, preferring to pay more for better coins. $4 a pound is for circulated, modern, effectively no value coins. Sight unseen its literally impossible to answer.
yeah, I have been trying to ask some questions about dates and such to get a better idea of what the person has before I offer. Since I have just started I am pretty much just trying to build my collection so I am not focusing on any one thing yet. I have been getting a mixture of modern and old(er). I will see what kind of response I get to the $4 a pound and go from there.
The shop where I buy mine pays people like a quarter for a handful, assuming they're not silver. The problem is most people are going to think you're ripping them off if you offer almost nothing for so many coins. People tend to have an inflated view of what old coins are worth. I see people on Craigslist offering 20 common modern foreign coins and asking $100 for them.
I don't understand the bulk foreign coin thing. Selling 1 pound of pennies dimes and nickels $9.99. Isn't that odd? Just target specific coins and it will cost you less in the long run. http://worldcoingallery.com/store/index.php http://www.joelscoins.com/ http://www.georgemanzcoins.com/world/
It's a good way to get started with a foreign collection. I wouldn't do it now, but when I first started I bought several bulk lots. It gives you a wide variety of countries and types of coins and lets you see what's out there so you can have some idea of an area to focus on. And as far as buying from other collectors, you might find something really good that way. People often get those coins when they inherit them from someone and they don't know anything about them, so you could get something really good.
