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Help! How to sell inherited coin collection for maximum value????
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<p>[QUOTE="GDJMSP, post: 1665903, member: 112"]I started collecting coins in 1960, I have studied them my entire life and continue to do so. In the course of my life I have bought and sold coins from just about every venue there is, auctions, ebay, dealers, private individuals, coin forums, etc etc. Point is I know the pluses and minuses of all of them. And for someone like you, who knows literally nothing about coins, selling to a dealer is by far your best option.</p><p><br /></p><p>You ask about ebay, no it isn't hard. But to sell 1,000 coins on ebay is very, very time consuming. You will spend countless hours putting up auctions, answering emails & questions, taking coin pictures, making trips to buy packaging materials, going to the Post Office to send off your items, etc. And you will be doing all of this just about every day of the week, and probably for a year or two.</p><p><br /></p><p>The other problem is you have no ebay presence, in other words you have no reputation - people don't know you. They know nothing about you or if you are trustworthy or not. So until you get a few hundred sales under your belt people will be reluctant to bid on your items. And those that do bid, they will be skeptical and so will bid low because they are afraid to trust you. And the more expensive the item, the less they will trust you. So high dollar items will go cheap.</p><p><br /></p><p>Then you will have all of the returns and complaints you get to deal with, and believe me you will get them. This will be partly due to the fact that you don't know coins, so you will not be able to describe them properly, to make note of any problems, you won't even know if they have problems. More time spent, refunds to make, more trips to the Post Office, for packaging, putting up new auctions, etc. And then you do it all over again to sell each item that was returned.</p><p><br /></p><p>Then you have the ebay fees to pay. I think it is about 15% nowadays, and coupled with your other expenses, and there's a lot of expenses, you will only net about 75-80% of your sales price. And if your sales price is low anyway, because of issues I described above, you lose even more.</p><p><br /></p><p>Now there's even more to it, other drawbacks and issues. Like non-paying buyers, PayPal disputes, the list really does go on and on. I knew all of this when I made my initial post and suggestion. And I know all of the problems and issues you would have to deal with for all of the other venues as well. Which is of course why I suggested that your best course of action would simply be to sell to a trusted and respected dealer. Do that, and all of those problems simply go away - poof. </p><p><br /></p><p>Now I no longer even collect coins, I own no coins. I am a numismatist in the purest sense of the word, all I do is study coins and try to help others because of my love for the hobby. But I'll tell you, besides selling coins here and there throughout the course of my life, I have sold 2 entire collections on separate occasions. And even knowing everything I know about coins, even though I have an excellent reputation with people all over the world, do you want to know how I chose to sell those collections ? I sold them to a dealer.</p><p><br /></p><p>I have given you the best advice I can give you based on what I have learned over the course of 50 plus years. Based on my experience with seeing a thousand others just like you, friends and complete strangers in exactly the same situation you are in. And my advice was exactly the same as that I am giving you. And it was advice that I took myself - twice.</p><p><br /></p><p>Don't know what more I can tell you.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 1665903, member: 112"]I started collecting coins in 1960, I have studied them my entire life and continue to do so. In the course of my life I have bought and sold coins from just about every venue there is, auctions, ebay, dealers, private individuals, coin forums, etc etc. Point is I know the pluses and minuses of all of them. And for someone like you, who knows literally nothing about coins, selling to a dealer is by far your best option. You ask about ebay, no it isn't hard. But to sell 1,000 coins on ebay is very, very time consuming. You will spend countless hours putting up auctions, answering emails & questions, taking coin pictures, making trips to buy packaging materials, going to the Post Office to send off your items, etc. And you will be doing all of this just about every day of the week, and probably for a year or two. The other problem is you have no ebay presence, in other words you have no reputation - people don't know you. They know nothing about you or if you are trustworthy or not. So until you get a few hundred sales under your belt people will be reluctant to bid on your items. And those that do bid, they will be skeptical and so will bid low because they are afraid to trust you. And the more expensive the item, the less they will trust you. So high dollar items will go cheap. Then you will have all of the returns and complaints you get to deal with, and believe me you will get them. This will be partly due to the fact that you don't know coins, so you will not be able to describe them properly, to make note of any problems, you won't even know if they have problems. More time spent, refunds to make, more trips to the Post Office, for packaging, putting up new auctions, etc. And then you do it all over again to sell each item that was returned. Then you have the ebay fees to pay. I think it is about 15% nowadays, and coupled with your other expenses, and there's a lot of expenses, you will only net about 75-80% of your sales price. And if your sales price is low anyway, because of issues I described above, you lose even more. Now there's even more to it, other drawbacks and issues. Like non-paying buyers, PayPal disputes, the list really does go on and on. I knew all of this when I made my initial post and suggestion. And I know all of the problems and issues you would have to deal with for all of the other venues as well. Which is of course why I suggested that your best course of action would simply be to sell to a trusted and respected dealer. Do that, and all of those problems simply go away - poof. Now I no longer even collect coins, I own no coins. I am a numismatist in the purest sense of the word, all I do is study coins and try to help others because of my love for the hobby. But I'll tell you, besides selling coins here and there throughout the course of my life, I have sold 2 entire collections on separate occasions. And even knowing everything I know about coins, even though I have an excellent reputation with people all over the world, do you want to know how I chose to sell those collections ? I sold them to a dealer. I have given you the best advice I can give you based on what I have learned over the course of 50 plus years. Based on my experience with seeing a thousand others just like you, friends and complete strangers in exactly the same situation you are in. And my advice was exactly the same as that I am giving you. And it was advice that I took myself - twice. Don't know what more I can tell you.[/QUOTE]
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Help! How to sell inherited coin collection for maximum value????
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