Dealers, AND non-dealers, when you decide to sell a coin.....

[bochiman]

how do YOU go about setting prices?

 

 

It is one thing if it is "generic", a "widget", a "modern flappable", but what about when it isn't a rarity, but the price guides are off (you believe), the toning makes it a bit unique (maybe not a monster, but still nice), and/or the coin (year/mm/type) doesn't trade that often (but it isn't rare...say, IHC Proof or Matte Lincolns, etc)?

 

I'd like to hear from both dealers and non-dealers about your processes as you go to price.

It would be nice if you mentioned whether you were doing it from a dealer standpoint or from a collector/non-dealer standpoint.

 

 

In the past, I have sold very few coins, aside from mint flippables, and those are easy to price. When I have sold them, it has usually been in person to board members I met at shows, or a couple online here where I have take pictures and priced it to where I valued the coin (not from a pure monetary viewpoint, but from how much I liked it and how replaceable, if I wanted another, I would find it).

 

Thoughts?

[Raisethis2]

I sell small value coins (generally under $100) with some regularity. I depend upon the CDN 90% of the time to determine bid. If it's an E-bay sale

bid is usually about right to start.

 

I will also sell in a variety of auctions where I have first hand knowledge of what types of coins bring the strongest prices. They are assigned accordingly with reserves @ bid or just above when appropriate. This method might be the most appropriate for you given the ability to set reserves. The best auctions have a live audience and they post decent pictures for bidders on Proxybid. I have (on occasion) been very pleased using this method.

 

Nicely toned coins go to Kryptonitecomics. He has a pretty good following that I don't think can be exceeded by any other sales method I have available. His customers will make the determination whether the toning deserves a premium and normally I agree with the results.

[RWB]

I let the buyer talk until they have talked themselves into buying the coin - then price doesn't matter.

[Walkerfan]

I have sold through a variety of ways----coin shows, local B &Ms and the internet. I have had luck by researching 'prices realized archives' and usually selling for 90%-100% of that, if the stuff is PQ and, sometimes, I even make a little bit of money, if I bought low enough.

 

Low dollar coins are easy, as the disparity really comes with the higher dollar pieces. i.e. 10% of a 100 is much easier to swallow than 10% of 15000!! I don't use big auction houses, as the 17.5% buyers' premium is too hard to overcome without LOSING money, unless I have held material for a long while and/or purchased very LOW.

 

On the coins that I have held for 10+ years I have almost always MADE money. Like a dealer----It really depends on what you have into a coin before you can start to think about making a profit or not. i.e. there are some coins that I could sell tomorrow for almost double what I have into them, yet others, I paid a HUGE premium for, because I 'LIKED' them and it didn't matter to me, as I am in it for the LONG TERM.

 

Aside from a favorite local dealer----I don't think that I ever sold to the same dealer more than once or twice.

 

Get your better stuff CERTIFIED, as a dealer will almost NEVER pay more than MS 60 price for an MS piece, even if it is a TECHNICAL MS 65!!

 

BOTTOM LINE-----know what your stuff is worth and shop around and WAIT for the best price. There isn't a reason in the world for you to be FLEECED of your coins OR your cash. And NEVER put yourself in the position that you need money right away. JMHO.

[bochiman]

Thanks for the posts and thoughts!

 

I have some 1/2c dupes that I may be selling in the near future, and a few other coins, that is why I asked the question.

[Six Mile Rick]

Bochiman,

Plenty of good answers above!! Maybe someone here could even help you with the tough starting prices you are trying to figure out. 1/2 cent pieces should be fun to price and sell.

Good Luck!!

[Raisethis2]

That was actually one of the coins I'd had in mind with my comments. I attend an auction where copper (and in particular half cents) are a crowd favorite. The Auctioneer allows reserves and his Sellers premiums are reasonable for coins hammering above $100.

 

As long as the reserves set aren't unreasonable, you'll get FMV or above.

 

Sonny Henry Auctions, Lasalle, Ill.

 

Google is your friend.