How to find a buyer for large world coin collection

[World Colonial]

19 minutes ago, TetonJoe said:

Ok I see- excellent information and realistic feedback.

Just got back from a small coin show - took samples- same questions etc as here. Wonderful people - very positive response to the coins, methods and some info I shared from all of you. We now have a better plan for the next steps, along with some reliable names. Also going to a larger show in a month or so. 

Can’t thank you enough. Hope to call on you all again if needed. I will post again when we get closer to the sale(s) if anyone interested. 

Please do so.

[World Colonial]

10 hours ago, Lancek said:

You could also try an auction company who list online.  Not Heritage or one of the other "elite" companies.  They only deal in high dollar coins and don't want the ones only worth a buck or two.

There are numerous hosting sites that local auctioneers use.  Auctionzip, Hibid, icollector.  I buy a lot of my foreign coins off of sites like that.  I see two or three estate collections each week.  Some include additional estate stuff, but many are just coins.

And unlike a dealer, the auctioneer is working for you.  The more you make, the more they make.  They would have a better idea on what coins should be sold together, or maybe splinting them up over several auctions.  Too large of a collection can be overwhelming to bidders.  Look through their previous auctions to see if they have experience with foreign coins.

It would be ideal to find one that you could drive to.  So you aren't having to ship all that.  If they hold an onsite auction as well as the online option that is better yet.

It is an option but my opinion is that it would disproportionately result in "fire sale" prices or the coins not selling.  Using this option, what I would do is consign a relatively small portion of the collection and see what happens by comparing the results to my estimate of value and dealer offers, if any.

I don't believe any auctioneer is going to take the time to list thousands of low value coins as individual lots.  No money in it for them for the time it will require.  The only possibility I can see for any auction company accepting an 11,000 coin collection of this estimated value in its entirety is if they offer it in bulk lots with the size of the lot depending upon the composition and quality, whether the collection is sold at once or split up over several auctions.

If the lots are large, the only likely bidders will be dealers with maybe a somewhat better price due to the competition.  For smaller lots, there might be collector interest.  Under either, almost certainly still at massive discounts to the Krause list or even actual retail.  I have heard that these auctions do sometimes result in inflated prices due to ignorant buyers (purportedly disproportionately non-collectors just buying something) but I wouldn't expect it.

For most collectors, eBay is a better option since you can return the item if you don't like it and can't usually perform a personal inspection.

[TetonJoe]

Ok good - auctions are another way to go if the dealer approach just doesn’t gel & appreciate the names given here and in previous posts. We’re staying away from eBay. There’s too much interest right now so fingers crossed. 

We are going to split it into three categories however- world, ancients and US. The US and ancients will be easy to assess and value and move. The world is harder but do-able now that we have had so much help on this board and the dealers we met.