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Message:: [QUOTE="Morgandude11, post: 1828779, member: 37839"]Just wanted to write a brief article regarding selling coins--it is often pointed out that the sale of a coin is a "losing proposition," and that "you will undoubtedly lose money."   That mantra is often repeated here, and in many cases it is the truth.  However, I wish to describe my experiences today, after a decision to thin out my collection and sell off the ones that were no longer interesting to me--this was a personal decision, not based on financial need, or desperation--basically, the fact that I felt that I had gone off in too many directions at the same time, and diversified too much. At any rate, I decided to sell off the "moderns" in my collection--commemoratives, US Mint moderns, slabbed high grade ASE coins, and other things like that.  My desires have been toned coins--particularly Morgans, Franklins and Kennedy halves.  So, I made the decision to cull down the collection.  This was not difficult, as it was made not emotionally, but based on the rational desire that I didn't want to keep coins in which I had minimal interest any longer. So, I went to my local dealer, with whom I have had a relationship for almost 20 years.  He has reputation for extremely high integrity, and repute in the local business community.  He wants "long term" clients, rather than a marginalized profit, and we've done buy/sell business for years and years.  I've referred people to him, and he's told me where to find certain coins.  So, this was not an "off the street" situation--it was a well-established relationship between two people who trust one another. Also, you need to know my buying habits.  When it comes to toned coins, I will spend over value when a coin is something special to me--collectors of toned coins face that reality that it is an "esthetically driven" market, as opposed to a practical one.  However, the coins that I sold were NOT toned--they were market value, and obtained from various sources--dealers, eBay, auctions with big houses, estate sales, etc.  The one common denominator is that I DID NOT pay over market value for any of them, as determined by Gray sheet (which which I am familiar, and have access to on a regular basis). At any rate, to make a long story short--the dealer and I were able to come up with a mutually acceptable price point where neither of us lost--he obviously made a profit (which he should, as it is his business, and if he doesn't, it is a mater of survival) and I made a profit in the net overall sale.  I keep Excel spread sheets on all my purchases, and over a 3 year period, my profit was in the neighborhood of 5.7%.  So, a fair balance was struck between wholesale and retail sale, and we were both very happy--I sold off coins that will make someone else happy, and got compensated--he got coins that he can sell and make a reasonable profit. The key to this was--I BOUGHT REASONABLY.   Generally, I walk away from 'bidding wars," avoid "impulse buying," and try to get coins that are priced low for what they are, yet not compromising my standard for having a coin that is attractive to me.  This has been my "modus operandi" for years, and I have not lost money in a net overall situation. Today, in a couple of cases, I DID lose on individual items--some Australian coins sold way below market, as they don't necessarily resell well.  I knew that, and was unsurprised.  On the other hand,  ASEs and US mint coins can resell very nicely, if they are bought first hand, and same goes for commemoratives.  So, overall, it was a pleasant experience--nobody cheated me, and I didn't set out to cheat anybody else.  Dealers ARE NOT ALL EVIL.  Some collectors see them as "greasy, slimy, grossly overweight disgusting bottom-feeders."  That is a horrible stereotype, and I hope my experience helps to contribute to the positive image of sincere dealers and their clients.[/QUOTE]

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