New to selling ..long time collector

[jamesf-migration]

I need advise of how to sell my coins. I have collected coins since I was a kid, over fifty years, My collection consists of Indian Head penny' s thru Modern Proof sets. I have thousands of coins, some in good shape some not

 

I've been studying the PGCS site and Heritage Auction site. I recently bought a MS 65 Columbian half thru auction at heritage . I compared it to the one I bought 40 years ago and believe mine is in better condition, but I don't know how to market it..

 

Should I send my coins to PGCS for grading?

Should I learn how to picture it and learn e-bay?

Should I contact Heritage first?

 

I'm retirement age and my kids aren't interested in my coins so its time to sell them to someone else

Thanks

[DaveG]

Well, it really depends on how much work you want to do.

 

You could learn how to photograph your coins and sell them on eBay, but that's a lot of work. (getting the more expensive coins slabbed, listing the coin, shipping the coin, dealing with eBay buyers, etc.)

 

It also depends on what your collection consists of. Are we talking about coins collected from circulation? (VG Indian Head cents, Fine Mercury dimes - lots of circ. wheat cents and "junk" silver) or are we talking about carefully selected AU coins bought from reputable dealers over decades?

 

Do you have any relationships with dealers?

 

If, for example, you have a lot of low-dollar-value-per-coin material, you might sort it and take it to a local dealer (at a shop or coin show), which can be a quick and fairly painless way to sell a lot of stuff.

 

Personally, I would set a minimum dollar threshold on coins to be sent to a grading service (say $300 or more wholesale value per coin).

 

If you have a lot of low-dollar-value-per-coin material, I would find a dealer who would take the material in group lots (perhaps a dealer who ships to one of the big wholesalers).

 

I'm currently helping a neighbor sell a collection put together from circulation - lots of junk silver and circ. Buffalo nickels - I know some dealers at a large local coin show and I'm selling the coins to a dealer who puts together big packages for the large mail-order wholesalers.

 

I think Heritage deals mostly in big dollar collections/coins, but you can certainly look into it.

[JIM F.]

Well, it really depends on how much work you want to do.

 

You could learn how to photograph your coins and sell them on eBay, but that's a lot of work. (getting the more expensive coins slabbed, listing the coin, shipping the coin, dealing with eBay buyers, etc.)

 

It also depends on what your collection consists of. Are we talking about coins collected from circulation? (VG Indian Head cents, Fine Mercury dimes - lots of circ. wheat cents and "junk" silver) or are we talking about carefully selected AU coins bought from reputable dealers over decades?

 

Do you have any relationships with dealers?

 

If, for example, you have a lot of low-dollar-value-per-coin material, you might sort it and take it to a local dealer (at a shop or coin show), which can be a quick and fairly painless way to sell a lot of stuff.

 

Personally, I would set a minimum dollar threshold on coins to be sent to a grading service (say $300 or more wholesale value per coin).

 

If you have a lot of low-dollar-value-per-coin material, I would find a dealer who would take the material in group lots (perhaps a dealer who ships to one of the big wholesalers).

 

I'm currently helping a neighbor sell a collection put together from circulation - lots of junk silver and circ. Buffalo nickels - I know some dealers at a large local coin show and I'm selling the coins to a dealer who puts together big packages for the large mail-order wholesalers.

 

I think Heritage deals mostly in big dollar collections/coins, but you can certainly look into it.

 

This is pretty much what I was thinking. To add, I think Heritage has a $5,000 minimum. To help, you might put together a list of what you have, and the board can better advise you. There is a separate thread to sell your coins if you have established an amount you would accept.

[jamesf-migration]

Thanks Dave

 

You probably described my situation perfectly. I've got a lot of coins that I collected from my dads change in the 50's and 60's, but progressed to mint sets and proof thru 2005. A lot of comm sets.

Thanks for your advise

[GoldFinger1969]

James, first thing to do would be these steps:

 

(1) QUANTIFY what you have: how many coins, sets, coins.

 

(2) FACE VALUE of the coins.

 

(3) MONETARY VALUE of any gold/silver coins.

 

(4) NUMISMATIC VALUES (approximate) from Red Book, Ebay, etc.

 

You need to know if your collection is worth a few thousand dollars or tens of thousands of dollars (or more ). If you don't have your collection/sets catalogued -- or at least The Big Stuff -- I would do that first.

 

JMHO.

[yonico]

I agree that before going to a dealer, eBay or PCGS, you should make a list of everything you have, like goldfinger1969 suggests. Coins, sets, try to come up with approximate grades and values to know where you stand.

 

If most of the stuff you have is indian cents, proof sets & commems, I don't know how counting the face value of the coins would help (after you separate the coins with numismatic value from the junk, counting the face value of ONLY THE JUNK SILVER makes sense. maybe that's what he meant..?)

 

I think Heritage is not for you. They do different kind of coins in a different level. I would suggest eBay or a local coin shop/show in this situation.

 

GOOD LUCK!

[jpcienkus]

Good advice above.

 

It's tough to give advice without knowing the coins you want to sell. As for eBay, you could consign them to someone who already has a good presence on that site.

 

If the coins are worth grading, but not rare, Great Collections might be a place for you to sell the coins.

 

Many options to choose from, but first things first: assess what you have and document it.

 

For coins you don't want to get graded, good photographs are a must, then list them in the Money Market Place thread on this site. Include your price as well.

[Raisethis2]

I think a good rule of thumb is to submit (economy submissions) coins you think value above say $100-$200 so there's less left to interpretation. You can then photograph and sell them on E-Bay which is a rather fun exercise but will require a little learning or, you can put them in any good auction provided the Sellers premium is fairly low. By low I mean 15% or less for generic coins, 10% or less for coins above say, $250. In a good auction they will fetch what they're really worth.

 

The bulk stuff, common mint sets, scrap silver can be grouped together in larger lots and sold off in a better auction also. Nothing stops you from cutting a deal with an auction house 1000 miles from home. It's just a matter of mailing the coins with a list of what's there for you and the auction house.

 

Local Dealers are also a good source for liquidating assets however, know going in that they have bills to pay and will offer only what they think they must to get the coin.

 

 

Welcome again.

 

[Mr. Smith Guesser]

Heritage does have a $5,000 minimum, I actually just spoke with them the other day.

 

But I guess my main advice would be (if you're looking to sell things quickly) price them appropriately.

 

Don't base your asking price on what others are asking. Base your asking price on the most recently sold comparable. On eBay there is an option to see sold listings, check there. And check out the NGC and PCGS websites for coins sold through other auctions like Heritage, Great Collections, and others

[benjmurts]

James-

 

First thing to do, sell coins to me. Once complete, relax and smile

[benjmurts]

On a serious note, (along with everything Dave said)

A. Look at how to grade coins on the NGC or PGCS grading guide

ex: http://coinauctionshelp.com/how_to_grade_indian_cents.html#.Uz78rleMYS8

B. Look at the NGC or PCGS price guide and get a judgement of your coin values

[jamesf-migration]

Thanks,

I'll research you're suggestions

[jamesf-migration]

I'd love to..Tell me how to do it