All, A few of my coins have had some trouble selling, specifically gold coins. So I found a good dealer in my area and I had him give me some quotes. I'll be honest they were decent. I think he left a little bit too much "meat on the bones" for himself. His Prices: 1923 Gauden MS63 PCGS $1250 1900 Lib MS63+ PCGS $1500 1909-D $5 Indian Head $450 (Hesitant about this coin, probably because they are counterfeited a lot and its in 3rd world slab,ACG) What I countered with: $1350, $1600, $450 Am I splitting hairs here or is this a reasonable bump up? I assume, like most humans, he wouldn't offer his top dollar immediately. I don't mind paying his utility bills, but he can pay for his boat on his own time.
I am assuming the Liberty was also a $20 coin? I don't think your counter offers are too bad, but I would have gone up a little on the $5 coin as well. You can always go back down, but once you agree to a price you cannot go up again.
Assuming the 1900 Lib MS63+ PCGS $1500 is a $20 gold Lib, I think his offers were more than fair. They are a little low on the St. and a little high on the Lib, averaged out they leave about 100 bucks each wiggle room.... I would love to know where I can buy a boat for 200 bucks.... I base my statement off of recent PCGS MS-63 auction prices realized. I can't offer help on the 09 D without knowing a grade.
Half serious and half humorous . . . Do you have a boat? If so, did you pay for it out of your paychecks, or did you build it on your own time? Regarding the prices offered . . . First pretend you are buying them from him instead, and decide what you would pay. From there, subtract what you think is fair for a profit, bearing in mind that he may tie up his money for a month or more, and make another adjustment for how much you think gold might reasonably decline further during that time. That gets you to a price that I personally think should be fair. - Mike
Thanks for the responses. The boat reference was meant as a long term reference, in the long run, I don't mind cutting him a piece of the cheddar, but not giving him the whole brick. It was a half-sarcastic response. And for the record, I do not have a boat, I prefer to keep my precious money out of money pits. I tried negotiating... he said his prices were firm, which I think were decently fair up front. He looks to be taking around 15%-20% margin for himself. Now comes in the question of time value of money, do I want the quick cash or do I want to potentially take a few weeks to sell the coins and absorb that profit?
On Ebay, generic MS63 $20 gold are going for $1375-1700 all day long. Lets say average $1500. With fees, you are looking at keeping around $1275, although you could open ebay store and save some money. So, I think his offer was fair on 1923. Could you sell it for say $1700, and make money, sure. How long can you wait? http://www.ebay.com/sch/20-Double-Eagle-/39472/i.html?_from=R40&LH_Complete=1&LH_Sold=1&_sop=15&_nkw=1923 ms63 $20
I already employ your logic (eBay store). $1700 is a dream. I actually sold the coin for $1,480 and had a non-payer and this was after one time of relisting. Doing the math, $1,480 - 9% fee = $1350ish-$10 for shipping and insurance = $1,340. So he is taking $90 bucks margin from me or 6-7% profit (probably more since he has a dedicated network of clients). I thought I could get a bit more for the Liberty $20 gold honestly. It is funny that PCGS price guide has a MS63+ at $2,300 dollars. That is the largest variance I have seen on a coin to FMV.
That is just BS price. no one on earth will offer you any where near $2300 for a common date MS63+ $20 Lib. Greysheet bid (July 10) on the Lib. is $1500 and $1340 for the Saint based on $1154 spot gold price. Today's spot gold is $1133. IMO, he offered you a fair prices for these two $20s. I would probably pay $2800 for the two coins.
