I have an Indian Head penny collection that I need to sell (for cash). It is a complete set, VF or better. I had it appraised (for insurance purposes), it appraised just over 2 years ago for $8500, so $8500 is very optimistic. I have turned down a $4K cash offer. My house is in the woods (figuratively speaking)........since it is so far off the beaten path, I need to find an out of town auction house with the proper credentials and reputation to sell these coins on my behalf. When I look online with a search engine, it’s not much help-to much data to sort through. So, I (suspect) I need a nudge in the right direction with finding an appropriate auction house. I’m not opposed to using ebay, but I just don’t know how well ebay will do for getting me a reasonable price. A quick once over on the ebay site confirms that they probably aren’t the best for collections in the $3K and up range. Suggestions please? TIA BB
Bear in mind that insurance appraisals are almost always on the generous side, as they typically are based on replacement cost (retail). It's entirely possible that the offer you already received is quite fair. Regarding major auction houses, I'm not positive about this, but I suspect selling for cash may be your biggest obstacle in dealing with them. Also, they tend to tie up your coins for months before the sale, although most will advance you money against a portion of the anticipated proceeds.
Selling a complete set is tough. Most of the value are in just a few of the coins. Bust it up and sell the best. What grade are the 1877 and the 1909-S.
