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Seeking Advice: Selling Inherited US, World Coins, Proof Sets, & Paper Money
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<p>[QUOTE="frech001, post: 3003739, member: 20616"]Four years ago I purchased an inherited collection from a co-worker that sounds much like yours - over 7000 items. He tried to sell it to a couple of coin dealers but couldn't find any interested as the coins were not organized or cataloged. I offered to help him estimate their value. I purchased digital versions of Krause Standard Catalog of World coins and researched the tokens on-line at tokencatalog.com. I created an Excel spread sheet, listing each coin, with a column for silver content and value with estimated grade as listed in Krause. If you choose to sell the coins to a dealer it will help to know the potential value. I gave the spreadsheet to my coworker and offered to buy the coins or sell them on eBay for a commission. He decided to take the cash offer.</p><p><br /></p><p>I'm realizing about 1/4 book value before eBay & PayPal fees. Unfortunately the bulk of the coins are valued at less than postage costs. I sold the more valuable ones first, recognizing that collecting coins as a hobby does not seem to be growing.</p><p><br /></p><p>Plan on spending about an hour per coin to identify, grade, photograph and list, (re-list), package and mail. You'll need to report the income for tax purposes. Or you can find a retired collector in your community who would do what I did and help you out. Alternatively, enjoy researching them yourself and start selling them on eBay, (50 free listings per month without a subscription) and learn as you go. You will gain an appreciation for coin collecting, learn world geography and history. I only sell within the U.S. to avoid shipping costs and complications.[/QUOTE]</p><p><br /></p>
[QUOTE="frech001, post: 3003739, member: 20616"]Four years ago I purchased an inherited collection from a co-worker that sounds much like yours - over 7000 items. He tried to sell it to a couple of coin dealers but couldn't find any interested as the coins were not organized or cataloged. I offered to help him estimate their value. I purchased digital versions of Krause Standard Catalog of World coins and researched the tokens on-line at tokencatalog.com. I created an Excel spread sheet, listing each coin, with a column for silver content and value with estimated grade as listed in Krause. If you choose to sell the coins to a dealer it will help to know the potential value. I gave the spreadsheet to my coworker and offered to buy the coins or sell them on eBay for a commission. He decided to take the cash offer. I'm realizing about 1/4 book value before eBay & PayPal fees. Unfortunately the bulk of the coins are valued at less than postage costs. I sold the more valuable ones first, recognizing that collecting coins as a hobby does not seem to be growing. Plan on spending about an hour per coin to identify, grade, photograph and list, (re-list), package and mail. You'll need to report the income for tax purposes. Or you can find a retired collector in your community who would do what I did and help you out. Alternatively, enjoy researching them yourself and start selling them on eBay, (50 free listings per month without a subscription) and learn as you go. You will gain an appreciation for coin collecting, learn world geography and history. I only sell within the U.S. to avoid shipping costs and complications.[/QUOTE]
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Seeking Advice: Selling Inherited US, World Coins, Proof Sets, & Paper Money
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