Best Way to Sell

Discussion in 'Coin Chat' started by Oldrdawg, Nov 7, 2017.

  1. Oldrdawg

    Oldrdawg Active Member

    Hypothetical: If you had 30 TPG coins and each had a retail value between $150 and $500 (most closer to $150) and you wanted to sell them, in your opinion what is the best way to go about doing it? Some say eBay is the best because you control it. Others say eBay can be a pain, has fees and then one has to deal with returns, potential fraudsters, etc. Some say one’s local coin shop is often the best but you may not be getting the best price (the poor guy/gal has to make a profit after all) and are you going to end up with an unexpected and unwanted 1099 at the end of the year? Some say buy a table at a coin show, but there is a cost there too and the virtual certainty that not everything will sell. Others say put them in a traditional auction (traditional or online [non-eBay]), but that too has fees, potential taxes consequences, etc. Some say to split them up and sell some one way and others another way based on value. I’d be pleased to have any insightful and helpful thoughts.
     
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  3. baseball21

    baseball21 Well-Known Member

    It really depends on what they are. eBay very well could be you best bet for some if not all of them. Some of the pricier ones you might do better consigning to a specialist dealer if you wanted someone else to deal with the payments. It's very possible and even likely that picking different methods for different ones would be the best way to maximize the return. Hard to really say for sure without knowing what it is.
     
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  4. Oldrdawg

    Oldrdawg Active Member

    Morgan Dollars.
     
  5. baseball21

    baseball21 Well-Known Member

    Probably eBay for most/all, it'll have the lowest fees at that price point. Wouldn't hurt to check and see what your local dealers would offer but common date common grade offers will likely be low.
     
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  6. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    "Best", like beauty, is in the eye of the beholder. What may be "best" for one guy isn't necessarily so for the next one.

    If one has an established eBay seller's account with a history in this area, and as long as they're okay with a possibly slow/slower selling process along with other potential risks in order to achieve "top dollar", it may be the best option. However, if the money would be useful sooner rather than latter, other options may be preferable, especially considering the number of coins. Unfortunately, with such generic questions and no detailed info on individual expectations/needs/wants/etc, it's difficult to give anything other than generic answers.
     
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  7. SilverMike

    SilverMike Well-Known Member

    I think you do have to consider the value of your time too. An LCS that takes them off your hands at once might be less frustrating than handling individual lots on EBay
     
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  8. Oldrdawg

    Oldrdawg Active Member

    Thanks very much for the guidance.
     
  9. tommyc03

    tommyc03 Senior Member

    On the 1099 issue with Ebay, I believe it is now generated with over 200 sales or $20K total sales in a calender year, whichever comes first.
     
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