Selling advice

Hello all,

My apologies if I’m breaking any rules. I’m not advertising anything for sale here.

I’m trying to sharpen my collection focus and I have about 8 denarii of the Roman Republic, 70 denarii of the Roman Empire (ranging from Vespasian to Julia Domna), along with 2 Byzantine solidi and a tremissis to let go of.

The condition of the coins is generally about VF, although there are a few of EF quality. The primary intention isn’t to make a profit, but I do hope that the coins will be presented professionally and that the proceeds will help me continue collecting.

As I don’t stay in the US or the EU, I think the easiest method will be to consign the coins to a single auction house for sale. However I’ve heard there might be considerable seller fees involved. Does anyone have any experience to share or recommendations?

 

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Consider consigning them at Forvm Ancient Coins

Q

PS : or send me your coins, I can host and cherish them for free

 

We have a member here, @Severus Alexander , who will hold an auction later this fall. I think he is still taking consignment.
https://www.amcoinscanada.com/

 

Fees charged by auction houses to present your coins for sale at auction vary. I would suggest you contact several of those listed on NumisBids, SixBid,or biddr to find out how your coins will be presented and how much the sale will cost you. Presentation is important so I would look closely at current auctions to see if the auction house gives a good description and shows really clear and honest photos.

 

Consignment fees vary, best thing to do is to get multiple estimates of fees from different auction houses/people. Weigh them to your investment to your coins, your amount of risk you wish to endure in this venture, and amount of investment return you would like to receive regardless of positive gain. Then you can find the answer if it is worth it or not to sell on consignment. When you do decide to go down the route of consignment and you find someone that has a fee structure to your likening, invest your time on how the auction is done, reviews of the auction house/person, investment returns of consignment customers and so forth. I hope this helps.

 

I'll vouch for @Severus Alexander's AMCC as well. I sold a bunch of coins in last December's auction and have more consigned in the upcoming one. The AMCC auctions are listed on biddr for as much exposure and bidder participation as one can hope for, and the consignment fees are more than reasonable.

 

+1
@Severus Alexander did an outstanding job for me.

 

+2

Or, sell them yourself at Forum auctions. It's completely free and I've had great success selling there.

 

I have an opinion on everything: I believe the important part of selling or buying is to find a venue that fits your coins. A sale where coins worth $100,000 are common will not return well on $100 coins due to their high minimum fees and the lack of interest on the part of people with big money who simply do not want $100 coins. Similarly, a sale with many lower priced coins would be a terrible place to sell your super high end material. In your case it all depends on which VF and EF grading system you use. There are dealers who use VF to mean 'almost legible' or 'not terrible for something half eaten by corrosion'. I suggest you compare what you have to the coins sold by prospective sellers in the past and pick one that seems to fit what you actually have as opposed to what you wish you had.

I agree but would be very sure before sending anything out of your home country that you have a firm grasp on the laws concerning export/import of ancient coins both from your country and for the receiving country.

 

Keep in mind those selling fees. One of our favorite and most popular auction houses in the US has $25 per lot minimum (last I checked, it may be higher now). That means it makes no sense to consign $100 coins. They open at 60% of estimate so if you only get one bid you net $35 on your $100 coin.

 

Thanks for the kinds words above!

@RichardT, unfortunately there isn't time to get your coins into the next AMCC auction, but perhaps we can chat about the possibility of the one after.

 

I hope that means AMCC II will come soon. I am anxious to see if lots 1 and 2 get the special interest they did in AMCC I.
https://www.cointalk.com/threads/1-1-1-1-1-won.327885/#post-3250521
Don't miss post #21 where we learn about time zones.

 

It does. Although I'm feeling rather ill today which is slowing me down!

 

Thanks everyone for the advice. As pointed out, my denarii aren't very high value coins, so I was very aware that the big name auction houses aren't the best solution. Unless they end up as a group lot that is.

I had thought about Forum member auctions but the need to guarantee delivery is unsettling to me. I mean, I can send things by registered post but if it still gets lost or the buyer claims it's lost, what am I to do?

I will look carefully at AMCC, it sounds like a good option. Thanks again!

 

Registered mail usually includes insurance. I've never had a problem, as long as you can show a tracking number.

 

It very much depends on the value of your coins. There are shops that take consignments but "Our standard consignment fee is 20% of the sale price or a minimum of $40, whichever is greater." seems to be fairly normal.

 

Insurance will not protect you from the coins being seized by customs if you are not allowed to export the items from your country.

 

The question nobody dare to ask : where are you from ?? Maybe some members here live in the same area et could give you advices about the selling of your collection.

 

I am currently based in Singapore, in Southeast Asia. There are no dealers in ancient coins here as far as I know.

 

There is one, Minotaur coins, run by our very own @zumbly!!