Best way to sell my collection?

[tulipox-migration]

I would like to sell my collection of 1986 & 1987 Gold American Eagle proof $50 coins. I am not an avid coin collector, and in fact would consider myself a coin novice. I bought these coins from the mint at the time they were sold and have had them in a closet ever since.

 

What would be the best way to sell these coins to bring in the most money I can? I am thinking Ebay. I already have an established "good" reputation on Ebay that would help. However, am I not thinking of a better option? I am assuming my local coin shop would not be as good.

 

Any thoughts would be appreciated!

 

Thanks,

Joe

[TomB]

I agree that ebay is probably the way to go on these types of coins. Good luck.

[CarlWohlforth]

If you put them on eBay the selling costs are pretty cheap. You wouldn't need a reserve because I'd bid the value of 1 oz gold for them. It is likely I would be out bid. You should have all original packaging as I assume you do. If you live in San Jose, CA., I could take photos for you, otherwise if you have a digital camera or scanner you can get decent photos.

 

These coins in average condition, as received from the mint, seem to be going for over $500 on eBay.

[michael]

tomb and carl have excellent replies

 

i know both men and i highly recommend both their recommendations

 

 

michael

[James_OldeTowne]

I have sold bullion items to SilverTowne with good success. The problem with eBay is that you get bids that are basically spot, but after deducting eBay listing fees, the closing charges and shipping + insurance, and PayPal, you'll net a significant percent less than spot, say 10% or more.

 

I have sold bullion to SilverTowne at 3 points back of spot, and they show up at most major coin shows. Even items with numismatic value, if most of the value is due to bullion, you might give the guys at S.T. a shot. With your items, it may be worth a difference of as much as 20 bucks.

 

Overall, eBay is a third or fourth choice for me for bullion items, due to the overhead.

 

James

[tulipox-migration]

thanks everyone for the ideas!

[CarlWohlforth]

I'm not sure what SilverTowne is paying. But make sure they are paying close to $560 for the 1986 and around that for the 1987. That is what they have brought recently on eBay and that is much more than spot for an oz of gold ($423 today.)

 

While searching for the auctions below I was surprised to see an '87 in an ANACS PF 69 Heavy Cam holder go for $525, while a raw coin with no box went for $540 and the one below in the original box went for $616.

 

1986 $50 Proof Eagle on eBay, there are more sales at this price.

 

1987 $50 Proof Eagle on eBay

[EZ_E]

I had poor success selling proof bullion coins on e-bay. It seems to me that all bullion coins are very poor investments unless they can be purchased for close to melt.

[michael]

victors comment is right on the money in regards to buying bullion "numismatic" items

 

unless you can get them into proof or ms 70 holders

 

michael