To bulk sell or not to bulk....

All,

I have a box full of capsules with Morgans in them (list below).... what are you thoughts on if you were selling them? Since 95% of them are common and all in great condition, does it make sense to sell individually or bulk em by 10,15,20,or all? Let me know your thoughts.

1880-O Morgan
1881-S Morgan
1891 Morgan
1878-S Morgan
1881-S Morgan
1881-S Morgan
1884-O Morgan
1921-S Morgan
1886-S Morgan
1880-S Morgan
1881-S Morgan
1921-D Morgan
1884-O Morgan
1898 Morgan
1898 Morgan
1884-O Morgan
1921-S Morgan
1883-O Morgan
1921-S Morgan
1979 Morgan
1881-S Morgan
1921 Morgan
1897 Morgan
1879-O Morgan
1897-S Morgan
1903 Morgan
1879-S Morgan
1902 Morgan
1903 Morgan
1880 S Morgan
1887 S/S Morgan
1889 Morgan
1882 S Morgan
1896 Morgan
1878 Morgan (cleaned)
2003 Walking Liberty 1 dollar silver
2000 Walking Liberty 1 dollar silver
2004 Walking Liberty 1 dollar silver
1971 Ike Dollar
1776-1976 Ike Dollar
1941 Walking Liberty Half
1942 Walking Liberty Half
1941 Walking Liberty Half
1942 Walking Liberty Half
1942 Walking Liberty Half
1942 Walking Liberty Half
1943 Walking Liberty Half
1922 Peace Dollar
1935 Peace
1923 Peace Dollar
1923 Peace Dollar
1923 Peace Dollar
1926 Peace Dollar
1927 Peace Dollar
1923 Peace dollar
1935 Peace Dollar
1934 Peace Dollar
1922 Peace Dollar
1935 Peace Dollar
1922 Peace Dollar
1924 Peace Dollar
1924 Peace Dollar
1922 S Peace Dollar
1922 Peace Dollar
1922 Peace Dollar
1923-S Peace Dollar

 

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Sell individual.

 

Really? Why?

 

Attracts more buyers. More people are willing to pay for a single coin then a huge lot.

 

You will get more money, especially if you sell on eBay. People buying in bulk are generally expecting a "deal"

 

So here's another question...I inherited this collection, so when I go over 200 sales AND $20k, I get a 1099-R.

I am selling this at a net profit of zero (selling at what I paid for). Does that mean I can't claim no capital gains on my taxes effectively eliminating the 1099-R?

 

I am not sure about the capital gains. You will not reach near 20k or 200 sales with this lot alone, so I wouldn't sweat it unless you plan on having alot more PayPal transactions this year.

 

Oh...I don't have a doubt in my mind that I will reach $20k and 200 very quickly. $20k quicker than 200.

This is one single box of coins. I have a bunch of graded stuff and mint sets. Possibly somewhere between $40k-$60k

 

Wow yeah. You're kinda between a rock and a hard place then as far as online sales. Maybe consider setting up a table at a local show.

 

Take a table at a coin show and sell them mostly for cash in the pocket.

I don't know if it is the same under US tax law but in Britain these would be classed as chattels and not liable to capital gains tax which only applies to capital assets such as houses.

Also, here, if you inherited them your money from the sale would not be taxable as profits,since you are disposing of chattels not making trading profits.

 

Here is the US, Uncle Sam is more than happy to take money from you for an inheritance. They will get you anytime they can.

Go to a show and spread the sales out and go cash only.

 

Another consideration no one's mentioned, what's your time worth, and how much "time" do you have?

You can hedge on silver prices and 1099 problems by just running UP TO the limit in 2015, and selling the rest in 2016. Just a thought.

Be sure you calculate and retain a prove-able schedule of fair market value of all these coins on the day you inherited them; you'll need those numbers later.

Also find and read several opinions on the pros and cons of paying off your home mortgage (if you have one) with an inheritance. It is a very complex decision whose effects extend decades into the future, and affect marriage, divorce, and children. It is a decision about the influences in your life, not so much about financial analysis and tax benefits.

Maybe your local coin club would let you host a 30 to 60 minute program, with full audience participation, on this problem, and something much different from viewing slide after slide of blurry coins.

Probably just about everyone in the audience will face this question sooner or later.

 

My time is very valuable and it is very limited.

This is kinda what I am planning to do, but not for the aspect of hedging. I am probably going to hit >$20k and 190 auctions before year end, then when 2016 comes around I will probably sell <$20k and over 200 auctions.

Just very painful, I probably have 250 Morgans alone.

I would consider coin shows and a table, but pricing would be a total pain the rear.

 

One advantage of selling in person at a coin show is that it is really quite enjoyable, most people are friendly and helpful, if your prices are half way reasonable you will shift a lot of stock and sales are just that, not extended approvals. You also have the option of negotiating for bulk sales as well as offering the items individually.

You do need to price stuff up beforehand but if you are not trying to squeeze the last dollar out of every sale you do not need to worry if some items are a bargain for the buyer as long as you achieve the overall result you are happy with.

Have a think beforehand about what you'd accept for, say, all the morgans as one lot. Dealers need this stuff and will pay for it.

 

I was thinking the same thing. If you have never had a table at a coin show, take two wide-awake friends, and travel in two cars, coming and going. List all the Morgans (for instance) on a handout (25+ copies) and decide in advance what forms of payment you will accept. These are unlikely to be locals who can come to your bank's SD box for the transfer. Security (especially going home) is a MUST.

I recommend you NOT accept bullion coins in full or partial payment, no matter how tempting. Your friends will be witnesses to a bill of sale.

You only have one chance to do it right. And if you're in a major metro area, I would not rule out CraigsList -- 100% free, meet ONLY
inside your bank, accept ONLY cash, and still have a couple of friends on hand for moral support. I've sold plenty of coins on CraigsList, but with about one good buyer for every ten hackers or spammers, and a few psychos thrown in, just to make life interesting.

For any of you mildly considering CraigsList, visit the Columbus, Ohio, site, and type "silver" in Search; we're one of the ten biggest in the United States.

 

Too many moving parts on this.... I just need to tough it out and stick to the grind. Eventually, they will all be gone.

I started with 5 coins last week, bumped it up to 7 new coins/set today, going to try to bump it up to 10 next week.

I MIGHT consider selling to a coin dealer just to be done with it. Most of those Morgans, Walkers, and Peace are common so just cut me a check for $2000ish and be done with it (rough ballpark).

 

It never ceases to amaze me when people not only encourage one another but provide hints on how to cheat paying their taxes.

 

Well when the feds end up taking about 50% of it I can see why

 

U.S. taxes are low compared to much of Europe, but they get more nanny-services. My beef is how much our government WASTES. Don't get me started! About 2/3 of my career was working for the Feds.

 

I least I provide my fair share of taxes into this economy and government, unlike a large number of people who ABUSE and TAKE tax money because of laziness.

For example, since my father made a decent living, I had to pay every dime for school. But other folks who choose not to make a living, their kid goes to school for free. Now I have $60K Student Loan debt and they have zero. ???????? How does that make any sense?