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<p>[QUOTE=&quot;calcol, post: 2746482, member: 77639&quot;]First, catalog everything.&nbsp; Then decide if any of the raw coins are worth sending to NGC or PCGS.&nbsp; A coin dealer at a shop or show would probably be willing to help with that.&nbsp; Grade the remaining raw ones personally or with help of a dealer or coin club members.&nbsp; Put all the grade info in the catalog.&nbsp; Once, that&#039;s done, do the homework of determining value.&nbsp; You&#039;ll need an idea of wholesale and retail.&nbsp; If you sell to a dealer, you&#039;ll get wholesale.&nbsp; If you become a dealer by selling on eBay, you&#039;ll be targeting retail.&nbsp; Put that info in the catalog.</p><p><br /></p><p>More expensive coins (near $1000 and up) should probably go to a major auction house.&nbsp; Remaining coins can be sold to dealers locally or at shows, or the coins can be sold via eBay, or if certified, at Great Collections.</p><p><br /></p><p>It&#039;s your conscience regarding whether you want to share capital gains with the government.&nbsp; If you want to avoid capital gains, cash is king, which means selling to dealers locally or at shows.&nbsp; Larger dealers are unlikely to do anonymous cash transactions.&nbsp; Any transaction of $10K or more is supposed to be reported to the government.&nbsp; Likewise multiple small deposits at a bank that may be an attempt to avoid the $10K rule are likely to be reported.&nbsp; This latter event can be disastrous because the IRS may freeze your account until they investigate, which can take months.&nbsp; Whether you&nbsp; intend to report everything on your tax return or not, if you are going to be making multiple small deposits from sales, get an account for it at a different bank from your personal account.&nbsp; You don&#039;t want the IRS freezing your personal account if their interest is triggered.</p><p><br /></p><p>Consulting an accountant might be worth it.&nbsp; If you set yourself up as a coin dealer, expenses involved in selling may be deductible (some may be anyway); however, net proceeds may be taxed as ordinary income rather than capital gains.&nbsp; In addition, capital gains from selling collectibles is treated differently than capital gains from real estate or equities.</p><p><br /></p><p>If you know approximately when you purchased coins, but don&#039;t have receipts, old Redbooks are available and can be used to estimate value for purchase basis.&nbsp; You may want to spread sales over more than one year to avoid tax bracket creep.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>

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