Help! How to sell inherited coin collection for maximum value????

I've never been to a club but it sounds good because you'll get different opinions that check each other. Truthfully, you can't trust a dealer to go through it on his own time. You have to be there and know about what's being offered, and the more you know the better. Pics would help online, but you're best bet is with someone trusted in person. For example, my wife had a friend who knew I was a collector and one day entrusted me to go through everything and sell for her. You have to find someone familiar, trustworthy, and knowledgeable. Maybe breakdown what you got in a list, get ideas from each dealer, like what they'd offer for each silver dollar. Put aside the uncirculated ones for now and just group the well circulated or bullion pieces. If they're in rolls or bunched together,,they're probably not better dates (otherwise the collector really didn't care what his stuff might sell for). Study up on it a little, get a Red Book price guide. It'll pay off

 

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One of my all-time favorite people is in Casa Grande. I'll have a solid recommendation if it comes to that.

 

List on ebay starting items or groups of items at 99c. The market will decide for you.

 

It's unrealistic to expect to get maximum value without knowing anything about what you have or the grades. This is what coin dealers are for, but you should know before you go in - so the one way you achieve your goal is by taking the time to learn and research what you have - and the fair market price.

Ebay will cost you 15% of the total by the time you include fees and shipping - and that's if there are no problems with the transactions.

A traditional auction house will hit you for 35% and take all the burden.

A coin dealer will give you immediate cash and probably give you 50% of value, less if you are ignorant.

Going to a coin club is your best bet to learn - and see if anyone has interest in them in general and then make a fair deal.

The same way you'd sell anything else, find out the details and condition - and then base it on market price.

 

Here is a free online book on the subject.... Appraising Your Coin Collection

 

Thanks for the advice and suggestions.

Since this thread is still alive I'll go ahead and post some photos that were taken about 20 years ago. This isn't everything, and a lot of the photos are blurry but it will give you some idea of what I need to go through. I'm in no rush so I'll do a little here and a little there as the months go by. The bank should get to know me by name when I go to visit the vault in the future.

https://www.flickr.com/photos/bethorn/albums/72157603235402297

https://www.flickr.com/photos/bethorn/albums/72157603235428629

 

*awestruck*

How have you been tackling this collection? Has the advice you've been given been helpful?

 

http://www.coinshowradio.com/archives/481

I not only recommend this book, I recommend it for ALL collectors to place with their collections for their heirs.

Cash In Your Coins: Selling The Rare Coins You've Inherited - by Beth Deisher

 

Yes, the advice has been great.

I think I'm going to start with the dollar coins and work my way down the denominations. I'll put everything into flips, label them, grade them as best I can, photograph and enter the data into the spreadsheet.

 

Thanks. Ordered it today.

 

Take the pictures pre-putting them in holders

 

Truthfully, the above statement is laughable. While there certainly are those who shouldn't be trusted, do you really think dealers who've worked their lives to earn a solid reputation are going to risk it to pocket what very well could be a bunch of low dollar junk? Please... a little due diligence can go a long way.

"Pay off" how? By helping another person wishing to sell their coins to think every perfectly reasonable offer they receive is a low ball? If you wish to recommend such a poor "price guide" to someone seemingly unfamiliar with the very items they wish to sell, at least have the decency to explain the realities behind it. The chances of one actually pocketing anything close to a red book total for an entire collection is slim to none, be it from a dealer, collector, or even selling each coin individually under ideal circumstances.

 

Yes due diligence would go a long way, instead of mimicking tumblr outrage on every post you should actually realize what he said was right. Your mind was the one that jumped right to a dealer stealing something when there are numerous reasons you wouldn't just drop off a collection and wait to see what they say.

Aside from theft, getting lost/mixed up in their inventory is a concern, being low balled, not seeing their reactions to various coins to see what is the best ect ect ect. I would never drop off a collection to someone I didn't know or someone I was a first time customer with, first time customers aren't a priority in the pecking order. If you make an appointment and stand there it will get done an avoid any issues with something being misplaced or separated.

And yes a lot of people certainly will take advantage of the situation and stay in business that way. There is a reason why people are so loyal to honest good dealers, because they don't grow on trees.

No this wasn't a post bashing dealers but it is the reality of the world we live in. You wouldn't let a random contractor just roam your house while you aren't home and take their word they did what they said, why would you drop a collection off with a complete stranger and go on faith? You can even find plenty of posts on various forums of dealers yes dealers complaining about rip off artists in their area giving dealers a bad name. Just being a dealer doesn't make someone honest nor does it make someone dishonest, but the only way to find out how they will treat you is to experience it.

 

You've made me think about clearing a lot of my collection, because no one will have a clue to the fortune I've collected

 

Can always leave instructions with the family or in your will for the best course of action for them. Some sort of instructions somewhere generally makes it a lot easier process especially if the things worth grading are already graded

 

Laughable? You expect a stranger to just leave his coins, out of sight, with a dealer they never met before? That's silly. And having some knowledge from the red book will pay off enormously as opposed to having no general knowledge of coins, ballpark figures of values, etc. sorry it doesn't suit your purposes if you're a dealer, but that's the truth.

 

Disclaimer: This is NOT meant to be a negative comment.

Are you SURE you're NOT a collector? You seem pretty knowledgeable and very comfortable with the collector's vocabulary. Jack

 

WoW cant read the rules, to hard to understand or just above them?

Very good point! There are classified threads B/S/T for that purpose , do not make any type of willingness to B/S/T. Also no identifying email or social media contact info for your safety. Jim

 

This is a very old thread from 2013! I'd like to know what happened...

But to @BET:

If you're itching to sell, you should post pics of them here on this thread. Not necessarily all of them, but some of the ones you believe to be worth a lot. Some may be errors... so I'd check thoroughly. Maybe you'll pick up the hobby as a result lol.

Some of us will probably help you price them, especially the experts of the series (some members here have collected for many decades, others are professionals & coin dealers, and others have written books on coins).

Otherwise, check on eBay's sold listings for what they go for.

 

"Outrage"? Learn to think for yourself, big guy. There is no outrage, but only a few schmoes with nothing better to do than follow their leader.

Go back and read what I said, very slowly if need be. You're arguing against things I never said nor even implied. Oh, and the same additional reasons you listed could easily be applied to some ebay selling family friend. Funny how it works both ways, isn't it?