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<p>[QUOTE="GDJMSP, post: 20661, member: 112"]When trying to sell a coin collection there are not that many different ways to go about it. You can sell to a dealer, consign to an auction house - be it conventional or internet based or try to sell the coins individually or in small groups yourself. That's about it. All of these methods have their advantages and disadvantages.</p><p><br /></p><p>Let's look at selling them yourself first. This only works well for those who have more than a basic knowledge. And it can be quite time consuming if the collection is large either in number or monetary value. It doesn't really matter if you sell the coins directly to other collectors, by using ebay, to dealers a few at a time or the internet auction houses like Heritage and TeleTrade. You will have the hidden costs that accumulate quickly like shipping & insurance costs and fees. These costs can quickly add up. But you do have one major advantage - you will likely realize the highest total value.</p><p><br /></p><p>When selling the entire collection in one shot by using an auction house you have the fees to deal with. The auction house is providing you a service so that is to be expected. But you also have the vagaries of the coin market to consider. For the past 4 or 5 years now the coin market has been for the part quite bullish. This is generally a good time to sell. But it has also had short periods of sluggish activity. And if during the particular auction that your coins will be sold during happens to be at the same time as one of these slow periods - well you certainly don't realize the best prices. And if it happens during or at the beginning of a market downturn - you could only receive a fraction of the previous value.</p><p><br /></p><p>When choosing an auction house you should also consider what type of material they normally sell. Some houses specialize in US coinage while others in world coinage. The makeup of your collection will determine which you should choose. And you should also consider the venue at which the auction will take place. Some venues like Long Beach attract a larger number of collectors and dealers and typically bring higher prices. You should also consider what other possible well known collections will be offered during this auction. If you have coins that are very similar in type and condition, or of lesser quality, than those being offered in the name collection - your coins will likely attract little attention and bring low prices. What you want is for your coins to stand out during the auction - not be just considered another one of many. One of the primary advanatages of selling your collection via an auction house is you can be assured the house is working for you. They want your coins to bring the highest prices because that will increase their fee. They have nothing to gain by doing otherwise.</p><p><br /></p><p>Selling to a dealer on the other hand can be quite risky at times - especially for the inexperienced collector. I have personally seen big name dealers that are highly respected try to take advantage of inexperienced collectors or clueless owners who have inherited collections. I once saw one of these dealers offer face value of $6,400 for a collection that I later spent 6 months cataloging and setting a conservative value of over $80,000. There are many, many more horror stories involving this scenario. So carefully choosing which dealer to approach is extremely important. And a trusted name is not always enough.</p><p><br /></p><p>I would urge anyone who knows little or nothing about coins to find a trusted friend who does know about coins and take them with you before ever approaching or contacting any dealer. And if you do not have a trusted friend - then buy one. Find somebody and pay them to participate and act in your interest. Offer them a percentage though for this will provide the incentive to help you achieve the best possible price.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 20661, member: 112"]When trying to sell a coin collection there are not that many different ways to go about it. You can sell to a dealer, consign to an auction house - be it conventional or internet based or try to sell the coins individually or in small groups yourself. That's about it. All of these methods have their advantages and disadvantages. Let's look at selling them yourself first. This only works well for those who have more than a basic knowledge. And it can be quite time consuming if the collection is large either in number or monetary value. It doesn't really matter if you sell the coins directly to other collectors, by using ebay, to dealers a few at a time or the internet auction houses like Heritage and TeleTrade. You will have the hidden costs that accumulate quickly like shipping & insurance costs and fees. These costs can quickly add up. But you do have one major advantage - you will likely realize the highest total value. When selling the entire collection in one shot by using an auction house you have the fees to deal with. The auction house is providing you a service so that is to be expected. But you also have the vagaries of the coin market to consider. For the past 4 or 5 years now the coin market has been for the part quite bullish. This is generally a good time to sell. But it has also had short periods of sluggish activity. And if during the particular auction that your coins will be sold during happens to be at the same time as one of these slow periods - well you certainly don't realize the best prices. And if it happens during or at the beginning of a market downturn - you could only receive a fraction of the previous value. When choosing an auction house you should also consider what type of material they normally sell. Some houses specialize in US coinage while others in world coinage. The makeup of your collection will determine which you should choose. And you should also consider the venue at which the auction will take place. Some venues like Long Beach attract a larger number of collectors and dealers and typically bring higher prices. You should also consider what other possible well known collections will be offered during this auction. If you have coins that are very similar in type and condition, or of lesser quality, than those being offered in the name collection - your coins will likely attract little attention and bring low prices. What you want is for your coins to stand out during the auction - not be just considered another one of many. One of the primary advanatages of selling your collection via an auction house is you can be assured the house is working for you. They want your coins to bring the highest prices because that will increase their fee. They have nothing to gain by doing otherwise. Selling to a dealer on the other hand can be quite risky at times - especially for the inexperienced collector. I have personally seen big name dealers that are highly respected try to take advantage of inexperienced collectors or clueless owners who have inherited collections. I once saw one of these dealers offer face value of $6,400 for a collection that I later spent 6 months cataloging and setting a conservative value of over $80,000. There are many, many more horror stories involving this scenario. So carefully choosing which dealer to approach is extremely important. And a trusted name is not always enough. I would urge anyone who knows little or nothing about coins to find a trusted friend who does know about coins and take them with you before ever approaching or contacting any dealer. And if you do not have a trusted friend - then buy one. Find somebody and pay them to participate and act in your interest. Offer them a percentage though for this will provide the incentive to help you achieve the best possible price.[/QUOTE]
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