Best way to maximize sale of old collection?...

Discussion in 'Coin Chat' started by AtlantaMan, May 25, 2024.

  1. AtlantaMan

    AtlantaMan New Member

    Hi - I am new to the forum, and this is my first post.

    I have an old collection encompassing some thousands of coins. I've gone through every coin and tried to triangulate the value and grade using the CoinSnap app and the 2024 Red Book and then put them in a coin flip. I started around Thanksgiving and it is now Memorial Day. Generally, each coin is probably worth <$50 each and they encompass a variety of types such as half cents; large one cents; two cents; liberty, shield, buffalo and war nickels; Indian head pennies; barber and mercury dimes, Franklin half dollars, Morgan dollars, Peace dollars, etc. etc., Generally, they range from $1 up to around $50 or so. Many are <$15. And, of course, there is another thousand or so of wheat pennies from 1909 VDB (not S) up through the 1970's. Each might be worth from 2+ cents...maybe. Because of the cost, it doesn't seem worth slabbing any of them. That being said, the value does add up because of the number of coins.
    QUESTION - I am willing to invest time and effort to maximize the sale price of these coins. Local coins show and coin clubs in my area really don't exist. So, I am at a bit of a loss as to how to get maximum value for these coins. I was thinking Ebay, but I don't know for sure. i can spread the sales over months and even longer. Any recommendation from the forum members is most welcome. Thank you!
    ZoidMeister likes this.
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  3. ZoidMeister

    ZoidMeister Hamlet Squire of Tomfoolery . . . . .

    Sounds like you are on the right track.

  4. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Hi @AtlantaMan .... That collection sounds much like mine. Fortunately, I won't have to worry about liquidation. That's my kids problem!

    First point is this.... Liquidating to a dealer at a shop or show is a fine way to handle your business. You have to remember though, that the dealer will have to eventually make money on the transaction, so you will not realize full potential.

    Many here have success on Ebay. Coin collectors are a fussy lot and will demand lots of photos and descriptions. Add that to multiple trips to the post office and you may have yourself a headache on your hands that you didn't want.

    Several years back I helped a friend of mine liquidate his late fathers collection. That man had a walk in closet packed with coins. It took me two weeks to inventory that collection for him. We discussed the options, Ebay being one of them. I calculated that he had just shy of $13,000.00 in that collection. My friend didn't want the trouble of marketing on Ebay so I sent the list to a couple of dealer buddies I know and he accepted an offer of $9500.00 for his late fathers collection.

    It is a daunting task and a decision that only you can make, but it sounds as though you have already done the legwork quite well. Good luck!
  5. desertgem

    desertgem Senior Errer Collecktor

    Take a look at " " where you can buy/sell with minimal cost and under your control.
    Be Aware that some others that also use it, can put up coins they miss value as more due to their ignorance of the coin or for some just hoping to get the money. Most are quite accurate. Once you get a good reputation if is a lot easier. IMO, Jim
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  6. desertgem

    desertgem Senior Errer Collecktor

    Also I should have said that there is a Buy/Sell forum here, but there is more limitations than the USACOINBOOK, but both are very good.
    ZoidMeister likes this.
  7. ZoidMeister

    ZoidMeister Hamlet Squire of Tomfoolery . . . . .

    I second this for the lower value pieces. Set your asking price, indicate that you may accept "Best Offer," and go from there.

  8. PlanoSteve

    PlanoSteve Well-Known Member

    @AtlantaMan, welcome to CT! :singing:

    I want to throw something out there which I think will help you (at least mentally) in the long run.

    If you were selling just one coin, then you would most certainly hold out for the price you want & be less negotiable.

    But selling a quantity of coins is a different issue. It's actually similar to accumulating a quantity of coins where you may determine you actually paid too much for some, or too little for others, as you go. When I have done this, I consider a "dollar cost average" for the acquisitions, over a period of time, say 2 or 3 months or "for the calendar year". If I didn't feel good about the total paid, I changed my strategy. If I couldn't get past a single coin transaction, I would go nuts (well, I probably am, but that's not the reason :smuggrin:)!

    Similarly, when intentionally selling a volume of coins, don't look at each transaction individually, but as a "group" or "dollar cost average" because you're going to sell to the current marketplace , you will wind up accepting offers or counteroffers & you will "win" some & "lose" some. Otherwise, you run the risk of being constantly frustrated rather than enjoying the process & reaping the rewards.

    Also, since you state you have "some thousands of coins" and many are low price point, I would suggest "averaging" the coins by selling some in groups, say 5, or 10, 20, etc. You will tend to move more coins & reduce the stress for both you & the buyer.

    There's probably not just one good sales venue; try several to see what works best for you. (I have had great experiences with USACoinBook - as a buyer.)

    Well, that's just my two cents worth, which is worth less now due to inflation...:jawdrop:
  9. CoinCorgi

    CoinCorgi Tell your dog I said hi!

    I would caution against using the Red Book as a source for determining value/worth of coins. Typically, the price listed in the Red Book is significantly higher than what a dealer would pay, and somewhat higher than what another collector would offer. The dealer is trying to make money so he has to buy for less than he can sell it at. A collector might pay more because he wants it and is not necessarily trying to make money. I'm a collector and I for sure won't make a lick of profit if I were to sell my collection.

    So, the quick fix is to take 50%-60% of the Red Book value and use that as your realistic expectation. Slow fix is to spend the rest of your life (considering that there are thousands of coins) trying to research past auctions, etc. to estimate value (the latter is what everyone here will recommend edited).

    I don't know anything about CoinSnap...does it offer an estimate of value/worth?
    Last edited by a moderator: May 26, 2024
    Randy Abercrombie likes this.
  10. AtlantaMan

    AtlantaMan New Member

    Hello All - thank you for the great advice and direction - I sincerely appreciate it.
    PlanoSteve and Randy Abercrombie like this.
  11. rte

    rte Well-Known Member

    I have thousands of coins as well.
    Probably just like a lot of other people here.
    The thing to focus on is something in your collection that others probably don't have or want.
    Higher grades are preferable to sell person to person or in the classified section here.
    The random stuff is for beginners and that's what you could sell in bulk.
  12. 3BStuff

    3BStuff Cogitare Et Prolatantem

  13. 3BStuff

    3BStuff Cogitare Et Prolatantem

    something messed up
  14. russell1256

    russell1256 Well-Known Member

    [QUOTE="Local coins show and coin clubs in my area really don't exist.[/QUOTE]

    What area are you in?
  15. serafino

    serafino Well-Known Member

    If you want to maximize the sale of your coins it's gonna take time. eBay is by far the biggest marketplace for the sale of coins, nothing else comes close. Some have mentioned USA Coin Book, I'd be surprised if they sold 2% of the coins eBay sells
  16. Bill in Burl

    Bill in Burl Collector

    There's 2 relatively active coin site that have BST. Try Coins and Canada and Coin Community Forums
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