Do Coin Shops Buy High End Coins?

I'm familiar with selling silver etc. but I never sold a slabbed coin before.

Can anyone chime in if they have any experience,

How did they offer compared to actual value?
Were they not interested?
What were you selling?

 

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I sold a pcgs peace dollar. dealer gave me grey sheet ask. However I think he was doing me a favor, cause I spend a lot of money with him.

 

Depends on the shop and the dealer. I've sold a few slabbed coins to a local guy that I snagged from ebay for cheap. The last one I took to him - he offered half of CDN at first, then we haggled a little and I got closer to 70% of CDN. It was a good deal for both of us!

EDIT - I should add that it was a $500 NGC coin.

 

I was thinking to myself, whats stopping people from buying "cheaply" priced coins on eBay and going into a coin shop and trying to resell them. And when I say cheaply priced, all I mean is an expensive coin bought relatively cheap warranting a decent resale... we aren't talking some $55 Morgan.

 

Is it a specialty coin? Is there a demand in that area for the coin?

Yes the shop will buy it and the price will vary upon the the answers to said question. If he has a demand or can flip it quick he probably might offer upto 90% of Greysheet. If its something something that they will have to wholesale or sit on for a while the percentage will be less.

 

1908-S Indian MS 65 Red

 

Most of the dealers I buy from sell to me for grey sheet bid, so I would expect something less then that.

 

CDN is 550 bid and 600 ask I wouldn't take less than 500

 

you aren't looking at the right coin .. is that for "BN" ?

 

ms 65 in the indians is for red brown, so I would imagine it would technically bring more then that as red, but a lot of people don't notice that little sentence above the prices.

 

ill buy it

 

Your half right thats for red brown CDN doesnt list for red only, also remember that's wholesale also

 

$2300 or so on heritage seems a bit low to offer 25% ?

 

Jester was right on his greysheet quote, but if you look at the top of the page it mentions ms 64 and above are for red brown coins. It being red I don't know what it is worth, but odds are a dealer will not give you near the $2,300 you are talking about on heritage and will probably just stick with what jester said.

 

Thats the difference between wholesale and retail. After commission you'd get about 1900 of the 2300 and it may take upto 3-6 months to get your cash

 

Still looks pretty minor I'd say at least a 64 or 64+ most slabbed 63s I see are pretty well nicked up that's only got 2 noticeable dings

 

1900 is nice for some haha



pls dont think i'm arguing, I don't have a grey sheet in front of me to look at... so I went over to numismedia for some random pricing to see how close that RB 64 was to the greysheet price you mentioned for the RB, they say $690 so IMO $550 isnt that far off on THAT coin

 

Whoops wrong thread I meant to post that about the 1887 Morgan sorry

 

I knew where it was suppose to go, gave me a good laugh

 

Not a technology major got an iPhone out of nessecity a couple years ago otherwise I still live in the 18th c now if we could only go back to paying for stuff with large cents and draped bust silver dollars instead of plastic....