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Collection Drive posted by Rick's Keepers

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So many different sets and which direction to go!!!

 

Friends,

I have ran through all the sets over and over again. I truly enjoy the dimes I have so those are no brainers as to keeping. I have had a swell time in the nickels since the stock market crashed. That leaves me with the Lincoln coins that I have acquired over the past 10 years. I'm not so sure that I want to keep those sets so I am really thinking ---- Heritage auctions for the Lincoln's. I could always add to the Jefferson's and Roosevelt's after Heritage sells the Lincoln's.

 

Later---Rick

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Hi Rick,

 

I do a lot of business with Heritage, mostly buying. Remember that there is a 17.5% buyers premium that heritage tacks on and unless you are well known they will also charge a percentage on the front (seller's premium). You can usually talk you way out of the seller's premium but the buyer's premium is more difficult. If you are selling a Stella in top population or a Hawaiian 5c piece then you can negotiate to get a cut of the 17.5%, i.e. 105% of hammer price.

 

BUT.... if you put in later date coins that don't have something special (top pop, amazing color, ect.) you may expect to get about 20% back of Greysheet (wholesale). It is a pain to sell them yourself but I have found that if there is a dealer that works with the coins you are selling you may be able work out a win, win situation, like ~10% back of Greysheet instead.

 

IF.... your coins are really WOW coins and you think Heritage might find two bidders who are both willing and able to fight for them then you can score some real home runs and cash.

 

My story from the ANA show in Dallas... I had a "problem" Original Gobrecht dollar that had been struck with a "strikethrough error" that someone tried to fix. They committed a felony by "fixing it" but in spite of the crime I thought that the coin was still acceptable. I also had a 1907 St. Gaudens High Relief with a FIN edge (wire rim) graded ANACS AU-55. I bought the coin 15 years ago before I knew that there would be only 2 acceptable holders. I talked with the folks at Heritage who said, and I already believed, that it was not likely to cross (and now they (NGC) break it out to decide.) The Gobrecht was a duplicate and the HR i wanted to use in the Registry,so what to do?

 

The Gobrecht went in the Heritage Auction and the St. Gaudens HR, I traded for a stunning PCGS AU-58 with Jeff Garrett of Mid-America Coins for ~3k.

 

The outcome was disappointing for the Dollar and I was happy with the High Relief deal and with Jeff. I wish I had not let the Gobrecht go that way. Even as bad as that may look to you I think $5k was too low. But that is just me.

 

I wish you good luck and profit,

 

John

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Thanks John,

 

For the time being it is just a thought. Sell or trade would work well but Heritage is always an option. I usually think Heritage before winter hits and wonder how a nice Florida Fun submission might work well for extra future coin funds. I may just box the Lincoln's up this year and roll the dice. :)

 

WOW!! --- That was a low price on the Gobrecht -- It could have doubled with the right attention. :)

 

Rick

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Hi Rick,

 

I do a lot of business with Heritage, mostly buying. Remember that there is a 17.5% buyers premium that heritage tacks on and unless you are well known they will also charge a percentage on the front (seller's premium). You can usually talk you way out of the seller's premium but the buyer's premium is more difficult. If you are selling a Stella in top population or a Hawaiian 5c piece then you can negotiate to get a cut of the 17.5%, i.e. 105% of hammer price.

 

BUT.... if you put in later date coins that don't have something special (top pop, amazing color, ect.) you may expect to get about 20% back of Greysheet (wholesale). It is a pain to sell them yourself but I have found that if there is a dealer that works with the coins you are selling you may be able work out a win, win situation, like ~10% back of Greysheet instead.

 

IF.... your coins are really WOW coins and you think Heritage might find two bidders who are both willing and able to fight for them then you can score some real home runs and cash.

 

My story from the ANA show in Dallas... I had a "problem" Original Gobrecht dollar that had been struck with a "strikethrough error" that someone tried to fix. They committed a felony by "fixing it" but in spite of the crime I thought that the coin was still acceptable. I also had a 1907 St. Gaudens High Relief with a FIN edge (wire rim) graded ANACS AU-55. I bought the coin 15 years ago before I knew that there would be only 2 acceptable holders. I talked with the folks at Heritage who said, and I already believed, that it was not likely to cross (and now they (NGC) break it out to decide.) The Gobrecht was a duplicate and the HR i wanted to use in the Registry,so what to do?

 

The Gobrecht went in the Heritage Auction and the St. Gaudens HR, I traded for a stunning PCGS AU-58 with Jeff Garrett of Mid-America Coins for ~3k.

 

The outcome was disappointing for the Dollar and I was happy with the High Relief deal and with Jeff. I wish I had not let the Gobrecht go that way. Even as bad as that may look to you I think $5k was too low. But that is just me.

 

I wish you good luck and profit,

 

John

good advice, and no surprise you got a good deal from Jeff Garrett, definitely one of the good guys in the biz. Sorry to see what that Gobrect went for- I would have been happy to pay more. That is why I sell every coin that I upgrade- there are almost no cases I can think of where the middleman ever produced a better bottom line to me except in the case of extreme rarity, and *that* would be the only case where I sent my coins to HA at 17.5%. ebay costs me 4.8% (w/preferred seller discount) and I get 20% off on postage through them as well so that is my modus operandi at the moment.

 

Rick, if you're reading this reply, go ebay and open a small store- the listings will be free and the percentage is fair (with a store, otherwise 10%) at only 6%. Wish you luck bud!

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