Help Please... Possibly doing a Large Lot silver eagle auction.

[Coincurious7]

So I told my wife if Silver hits $50 I would sell some coins to pay off some debt. Well I decided to go through all my silver eagles and pull out what I intend to keep and put the rest together. Got to start somewhere. Here is the list of what I intend to sell if silver hits $50:

 

15 - 2010 Proof Silver Eagles in OGP

1 - Roll of 2005 Unc. Silver Ealges (20 coins)

15 - 2007 W Burnished Silver Eagles in OGP

4 - 2008 W Burnished Silver Eagles in OGP

1 - 1990 Proof Silver Eagle in OGP

1 - 1991 Proof Silver Eagle in OGP

1 - 1993 Proof Silver Eagle in OGP

3 - 2006 Proof Silver Eagle in OGP

1 - 2006 Silver Eagle Anniversary Set in OGP (3 coins)

1 - 1986 Silver Eagle NGC Proof 69

1 - 2001 Silver Eagle NGC Proof 69

1 - 2002 Silver Eagle NGC Proof 69

1 - 2004 Silver Eagle NGC Proof 69

1 - 2005 Silver Eagle NGC Proof 69

4 - 2006 Burnished Silver Eagle NGC 69

3 - 2006 Silver Eagle NGC Proof 69

1 - 2007 Burnished Silver Eagle NGC 69

7 - 2006 Reverse Proof Silver Eagle NGC 69

1 - 2006 Proof Anniversary NGC 69

2 - 2006 Burnished Silver Eagle Anniversary NGC 69

 

My Question is how would you suggest selling these coins?

 

My Idea is one large Silver Eagle Group lot on Ebay. I figured that if silver hit $50. I would list the entire lot with a starting bid of $7000. My reason behind such a big lot is that the fees of a sale below $1000 is around 12% plus shipping. At $7000 the fees should be around 4.5% plus shipping.

 

I would appreciate any input on my idea. Including the idea itself, the price, any input at all would be greatly appreciated regardless how critical. The more info I have the smarter the decision I can make.

 

I will be going through Commemorative Coins next. Wish me luck.

[rons]

I would research ebay prices for each of your eagles and offer them slightly discounted here on the Market Place. The fees you save would more than cover shipping. For all of your graded coins you might want to give Ian a shot at great collections as his fees are free for any coins over $1000 and I believe 5% for any under. With that in mind mix and match to get the packages above a $1000 value.

http://www.greatcollections.com/main-sell

Just a couple of thoughts Good luck

[TomB]

Forget ebay. Break them up into smaller lots for easier sales. List them in The Marketplace on these boards. Failing that, simply bring them to a local B&M and get fair value without paying ebay, PayPal or the USPS.

[Chris1976]

With that amount that you have, I would check into contacting www.APMEX.com possibly. I'm not sure what their minimum amount is, but they would be my first choice. I know its different from area to area, but in my area, the shops here are only paying $14 an ounce for the most part. That being said, thats far too low.

 

-Chris#2

[jtryka]

No offense Chris #2 but that is absolutely INSANE!!!! We just had a show a week ago, and when silver was at $43.60, they were paying spot for round and such, maybe $1-2 back for generic rounds, 29.6x face for 90%, and Spot +$2 for all ASEs. Apparently in your area the dealers are crooks.

[Chris1976]

Believe me, I completely agree that they are crooks to say the least.

 

-Chris#2

[mtnstyne]

Forget ebay. Break them up into smaller lots for easier sales. List them in The Marketplace on these boards. Failing that, simply bring them to a local B&M and get fair value without paying ebay, PayPal or the USPS.

 

This.

 

I for one will be waiting to make an offer on a set of burnished ASE's.

[James_OldeTowne]

You could put this into a Scotsman auction as one lot, and completely avoid the 12% - 15% that excessive eBay/PayPal charges will steal from you. If you're interested, please PM me.

[RockMyAmadeus]

If you list them as an auction on eBay, you can list 50 items for free at any start price per month, and the Final Value Fee is capped at $100. For any amount over $1,111 sale, the fee remains $100.

 

If you break them up, the 9%/$100 cap applies to each and every listing. For large dollar amounts, it's actually very cost effective. Your auction for $7,000, with free listing and a $100 fee cap would actually result in 1.4% net fee, plus Paypal's 3-4%. That's actually not bad at all.

[Coincurious7]

If you list them as an auction on eBay, you can list 50 items for free at any start price per month, and the Final Value Fee is capped at $100. For any amount over $1,111 sale, the fee remains $100.

 

If you break them up, the 9%/$100 cap applies to each and every listing. For large dollar amounts, it's actually very cost effective. Your auction for $7,000, with free listing and a $100 fee cap would actually result in 1.4% net fee, plus Paypal's 3-4%. That's actually not bad at all.

 

Thats what I was thinking. 4.5% fees (ebay & Paypal) doesnt seem bad. I have sold coins in the past on ebay, but I have never listed anything for $7000. Not sure how well something at that price does. If anyone has listed anything in this price range I would love to hear about the success or failure of it.

 

The other auction ideas sound good but I have never had any dealings with them.

 

If silver hits $50 I may list the coins in the Marketplace in the forums. And see how well that goes. I have had 2 transactions here on the NGC forums and they have been very pleasent.

 

And the local B&M is not an option in my area. Best we got within 2 hours of my home is a coin/pawn and they would offer me a third of what my coins are worth.

 

You guys are great. I thank you all for your advice and input. If you have anything else to add, I am all ears. Thanks again.

[Chris1976]

You may want to look into this, This was an email I just recieved.

 

APMEX Wants To Buy Your U.S. Mint Products!

 

 

Dear Chris,

Due to the recent incredible demand for Gold and Silver bullion products, APMEX would like to offer you an exclusive opportunity to LOCK IN YOUR PRICES and sell us some of your U.S. Mint collection. This is a limited time offer and it is first come, first served until we have secured enough U.S. Mint bullion products to meet our current demand!

 

 

We Want These Products:

We will pay you $38.00 over the current spot price of Gold for your Gold American Eagles. ANY year, ANY quantity!

 

 

We will pay you $3.00 over the current spot price of Silver for your Silver American Eagles. ANY year, ANY quantity!

 

 

We will pay you $1,250.00 for your 2010 America The Beautiful 5 oz. Silver coin sets.

 

 

Once we have purchased enough of these products to meet our current demand, this offer will end! YOU MUST ACT NOW!

Simply call our Purchasing Department toll free at 800.375.9006 between 7:00 a.m. and 5:00 p.m. CDT to lock in your prices right now. At APMEX, we make it easy and hassle free to buy and sell U.S. Mint bullion coins.

 

Respectfully,

Clint Hughes

Senior Vice President of Marketing

The American Precious Metals Exchange

 

P.S. Tell your friends they only have 5 days left to get FREE shipping on their first order when they purchase through the ALL-NEW mobile.APMEX.com on their smartphone! U.S. Shipments Only.