Frustrated with trying to sell coins

Hi all,

I've been doodling around with some slabbed Washingtons for several years, and due to going back to school full time, I'd like to sell them. I've got a couple of coins that are ANACS graded, and are worth several hundred dollars.

I'm really frustrated with eBay, as they either get no bids, or else I see similar stuff going for WAY less than book value (like, a small percentage of book value). If they're going for so little, what's the use of having a book value?

Anyone got any suggestions on where to sell a small number of coins and still realize a reasonable amount from them?

Thanks!

Butch

 

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Hi, Butch. I looked at your feedback and saw that you only have 5 as a seller. That might be part of the problem. I couldn't look at any of your closed auctions because they were too old. What were your pictures like? Even with graded coins, veteran collectors who purchase on eBay do not take the grade on the slab for granted. They want to buy the coin, not the slab. If the pictures are not large and clear enough, there are many people who would not take the chance on a higher dollar coin. My husband and I sell on eBay and we usually start our coins at about 50% of Red Book value. We have had very good sales and many of our coins sell for over the Red Book price. We have sold some graded coins and we always provide a supersize image so people can scrutinize the coin. Hope this helps.

 

Hi Susan,

Thanks for your reply. As for feedback... I've been selling on eBay for several years. Honestly, I ship what I sell when I get the money, and I rarely if ever even look at the feedback. It seems superfluous if you're honest to start with.

I've got very high quality scans of both sides of the coin merged into one image (to cut down on loading time). I've usually started at about 50% of book value as well, so that seems in line with what you're saying. Maybe I need to do the supersize image thing.

Thanks!

Butch

 

Book values

I'm basing my "book value" expectation on an average of the values contained in the current red book, a "Coin Prices" magazine I bought last week, and looking at a couple of online sources. They're all within a few dollars on a multi-hundred dollar value coin, so I figure that must be in the ballpark.

B

 

jrh,

The Red Book and Coin Prices are high end retail price guides, and neither are a good source for judging value. Closed auctions are one good source, and the Coin Dealers Newsletter is the other. All other prices found should be taken with a big dose of salt. If you want to list the coins that you have with the grade, I will be happy to post the current greysheet bid for them.

 

Hi,

Thanks much for all the info and offers of help. The two coins I'm looking to sell at the moment are both ANACS MS65 Washingtons. The first is a 1934P light motto variety. It's nicely struck, and has some very light honey colored toning on the obverse, and a bit of the same, plus a little grey/blue around the rim on the reverse. Strike is excellent, and there is a lot of nice cartwheel lustre on it.

The second is a 1935P. Again, nicely struck, and a very nice looking coin overall.

I couldn't find any of either one on Teletrade's prices realized just now..

Also, do y'all recommend going with someone like Teletrade for a small number of coins like this, rather than using eBay?

Tks!

Butch

 

It seems to me that sales have been kind of slow on ebay lately-I've had some trouble selling some of my stuff, too.

 

jrh, I just looked on eBay and it seems that the higher grade certified quarters are not going for much. If I were you, I would abandon the eBay idea for now. If you want to go that route eventually, watch the closed auctions and when prices are going up, then try to sell. Keep in mind that Christmas is coming, that always makes eBay sales go through the roof. You may be able to get more for it in October or so.

 

Thanks everybody...

I guess I'll just hold on to them for a few weeks and see what happens. Ebay can be frustrating sometimes just to try and get prices realized on closed auctions. There's just so much stuff on there. I'm not sure the minimum information thing (in the other thread) is such a bad idea. It's amazing the amount of trash you get when you do a very narrowly defined search in the coin area.

Thanks again everybody for the info.

Butch

 

Okay the 1934-P has a current greysheet bid of $68 in MS-65. The light motto does add a little interest to some, but not really that difficult to find.
The 1935-P has a current bid of $84. Again this really isn't a difficult coin to find in gem condition. Hope that helps.

 

Holy moley!

Back in July '98 I paid $110 and some change for the 34-P Light Motto on Teletrade! You're telling me it's worth slightly over half that today? I thought Washingtons were "hot-hot-hot" these days?

If that's what I can reasonably expect to get out of it, I'll just keep it..

Thanks!

Butch

 

teletrade what did you expect

its not that its gone down in value its you paid to much for it in the first place

 

I sold a dozen coins in August on ebay and my auctions all started nice and low.

Unfortunately, I should have LISTENED to this forum advising me that August is not good for selling. I got spanked like a 3 year old in a Wal-Mart aisle!


For instance...1935-S Lincoln in MS65RD PCGS sold for only $38! The dealer that bought it now has it listed on his web site for $69.

Between the fees and all, can you say "Write-off!"

Doh!!

 

I can relate to that, as can my 3 yr old !!

In my first attempt in selling coins on ebay, nothing fancy mind you, I sold four of seven items and lost $5.00 from what I bought them at, not including listing costs.

Maybee I throw some on again in November, just in time for Christmas shopping.

 

So you're telling me....

So are you telling me only suckers buy from Teletrade? How do they stay in business (purportedly purveying to the collector trade)?? And how come *none* of the widely available pricing guides (I don't have access to the grey sheet) reflect the drastically lower values people here are talking about? What's the point of the drastically higher prices that are listed everywhere?? Is *anyone* paying that much?

I guess I've missed some major 'stuff' when it comes to collecting. Now I'm really frustrated. Makes me glad I'm unloading coins. Too many vagaries in the market for me.

Butch

 

Well GD, it looks like you've done it again.
You've killed another thread.

When will you learn to stop confusing us with the facts?