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Opinions on best way to sell some of the hoard.

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As mentioned in a different thread, one of my collecting goals for 2010 would be to sell off all unwanted coins. Over the years, I have bought small collections; bulk circulated coins from people, multiple proof & mint sets of the same year, uncirculated rolls in many denominations, duplicate key date coinage in any grade, and managed to accumulate thousands of circulated coins (an unruly hoard). I have spent the last three years inspecting and selecting the coins I actually want to keep (creating order to the hoard but a hoard none the less). These coins now reside in slabs, 2x2s, or a lovely set of Danscos’. The other coins must now go, as I am tried of storing the boxes, but how do I sell them at a reasonable price?

 

So what avenues and methods would you use to sell the following coinage (after being posted in the Marketplace)?

 

1. Circulated raw key date coinage?

2. Circulated common date coinage? The non silver stuff for now i.e. ~200 Indian cents, 500 Lincolns, 800 liberty 5cent, 200 buffalo, 800 Jeffersons. Do I just throw them together, sprinkle a few key dates, and put them on the eBay by the pound, or other.

3. Proof and mint sets (1960s, 1980s, and 1990s)? What is the best venue?

4. OBW Uncirculated rolls e.g. Lincolns (50s & 60s S mintmark), Jeffersons (40s & 50s S mintmark, 80s, 90s), Washingtons (1989), and Franklins (1948D, 1949S, 1950-1954S, 1963S). Would you cherry pick the best and slab, or other? I am not particularly keen on selling the rolls but was rather looking for comments on whether you would break open the bankrolls looking for the one or two great coins.

 

Thanks and I look forward to the responses.

 

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First, send the Franklin rolls to me.

 

Second, send the key date coinage to NGC or PCGS if value justifies.

 

Third, list the better stuff for sale here, across the street, and on any other coin boards you may belong to. Coin forum BST's are usually one of the better places to swap good stuff.

 

Fourth, list the rest on ebay. Don't mix key dates in with your common stuff, because no one on ebay will pay a high enough premium for it. You'll get the same few dollars a pound whether its junk or a really good mix.

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I wouldn't break the rolls open unless you check the graysheet bid for a BU roll and it's not that high, and you feel lucky. Let me know what Lincoln rolls you have as well!

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Many of those items sound ideally suited to a Scotsman auction. Raw key and semi-key coins can do exceptionally well, in my experience.

 

At one time, the instant answer would have been "eBay", but they have overpriced themselves, in my opinion.

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I have a lot of coins due to a number of reasons and at times would trade them all for x number of quality US Gold Type or 19th Century Type. I have a special case at shows for material under say $25. I put the 2x2's in 4 bourse trays which have a capacity of 28 coins each. If sales are slow on this stuff, it means the people coming in the door don't have any money. Items that sell are replaced by coins I have in briefcase chained to the table. I no longer use a junk box due to the hassles involved and people trying to steal. On an 8 foot table I have 3 other cases devoted to slabbed coins and currency a lot of which is stacked. I have a lot of stuff (and can fill 4 cases many times over) and am in no hurry to sell as I attend shows to buy and sell at my price. My Financial Consulting business has been very successful so I regard coins more as a hobby / schedule C deduction than anything else. Knowing its so much easier to buy coins than sell them I am not anxious to buy unless the deal fits my goals. Look how gold has dropped almost $100 - were you buying it last week following the herd?

 

Coins that justify the slab fee are slabbed. I have a trunk full of recent US mint products under $50 and these are on hold from shows for the time being. $50 Silver will probably bring them out. Right now they are just too cheap and bulky to mess with at a show and everyone and his dog has them. Quality singles are slabbed now and then to meet a minimum quantity for a coins going to the slab mill.

 

As far as your BU rolls the grading fees will eat you up unless this is material over $100 a coin. I would want to see all the coins in the rolls but would put in quality containers in a secure, temperature controlled, humidity free area. I have lots of BU Franklin Rolls and read the BS on these boards about how Franks aren't worth much. Well thats OK, I will just sit on them until silver goes over $50 then. I do retail quality slabbed ones all the time however (and getting all the money) as there are many going after these because its their birth date or realize this is one of the affordable series a collector can reasonably hope to complete. I like the 1950 In Proof 65 and better.

 

If you want to get the lowest price for your coins, get in a hurry and sell them in bulk like at a shop. How many Double Eagles would you have if you had spent all that money on just quality material?

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Based upon your description, I believe it will require a lot of work to sell these for their current supposed value whatever that is. I say supposed because since I do not collect US coins, I'm not sure what the price spread is for the "typical" collectors between buying and selling in today's market for this material which I assume is mostly of average quality.

 

The only time I had a "garage" sale was in 2006 when I disposed of about 100 lots (some with many coins) on Ebay prior to the June Heritage Word Coin auction. I used the proceeds of about $6000 to buy nine coins that I wanted and it was a much better use of my money.

 

In total, I would say I broke about even, having bought these coins between 2000 and 2006. But this was mostly due to the coins that I was able to and were worth having graded. These realized good prices.

 

All of the others I sold raw and for most of them, I lost money and on quite a few of them, the prices were terrible. I would say it was a combination of never having sold on eBay before plus the material I was offering for sale.

 

Ultimately, you are going to have to determine how to find the buyers who will pay the best price for your coins to maximize the proceeds. For me, eBay was the only real choice since I sold foreign material. But it might be different for you. And it will be a tradeoff between selling them in groups or bulk and accepting less money versus selling them otherwise and taking more time.

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Probably Ebay is your best choice on blowing out bulk stuff but with the economy in the tank IDK. It has become more prohibitively expensive to operate there. I do find that items starting around bullion sell well. I would be hesitant to start expensive coins at 99 cents.....If you take slabbed coins to a shop, your looking at bluesheet at best.

 

Unless your really needing to sell this may not be a good time. Bullion may go higher. Eventually there will be a confrontation with the HItler in Iran and our economic problems are no way close to being over.

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