Questions About Selling Coins
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6 posts in this topic

Hi,

I've never sold a coin, but I'm starting to consider selling some.

They come in two types:  (i) normal coins that I have upgraded (e.g., dimes and half dollars minted in 1921), and (ii) coins I bought from the U.S. Mint, but don't want to keep (either because they're duplicates--2021 Morgan/Peace dollars--or I just don't like them--2021 American Silver Eagle 2-coin "designer" set of reverse proofs).

What's the best way to sell them?  I'm not as particular about getting every last cent of value as I am about selling to reliable adults.

Also, would it make sense to get the U.S. Mint "special" coins graded, on the theory that an MS 70 would fetch a considerable premium over ungraded?

Thanks.

Mark

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Whatever you do, manage expectations. For most such coins, anything you get above bullion would be a moral victory.

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Well, it does depend on who you are selling to.  If you sell your Bullion to a dealer you will lose money.  If you sell on EBay there's always a chance a 'Newbie' will come by and bid high.  As I said - it all depends on who the buyer is.

Edited by Alex in PA.
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Well for the modern stuff do some market research and see what the avg selling prices (not asking prices) are and then decide is it worth the added costs and the extra time in the hope of getting a 70 grade.   If you don't get a 70 grade will you be able to get back some of the grading costs in three months when you get the coins back, and of course there is the unknown tangible of where will the market be in three months, up down or the same.   While I'm not in the modern market from what I have seen the 2021 Peace has been selling in the mint packaging for a nice profit, I would be tempted to sell now and take the profit rather than spend monies to grade and risk the uncertainties.    But I'm not a big risk taker, I follow the old saying that goes: you never go broke taking a gain.

For the 20th century stuff again look at the market for what you have and see what those are selling for.   Once you know where the market is you can then make an informed decision on how to proceed. 

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On 11/8/2021 at 2:40 PM, Coinbuf said:

But I'm not a big risk taker, I follow the old saying that goes: you never go broke taking a gain.

Good advice!  I do need to remember that pigs get fat, but hogs get slaughtered.

Do I just sell on eBay?  Here?  Elsewhere (where)?

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On 11/8/2021 at 10:18 PM, 124Spider said:

Good advice!  I do need to remember that pigs get fat, but hogs get slaughtered.

Do I just sell on eBay?  Here?  Elsewhere (where)?

There is no harm in putting up an ad here in the marketplace, just know in advance that this site does not generate a ton of eyeballs to see the ad.    Certainly ebay is another good option, the fees are higher so you would want to bump the price up a bit from what you might be willing to sell here for.   Selling to a local dealer is another option, depends on if you have any around you and if they are worth visiting.   Obviously you will not maximize the dollars selling to a dealer but it is a quick.   If you have posting privileges on other coin forums (PCGS, coin talk as examples) placing want to sell ads on those forums is also an easy option and you may generate more views at those locations vs the marketplace here.   I do not think that Ian at Great Collections lists raw mint products but you could double check on that as a possible option.

If none of those pan out then you could have the coins graded and use an auction house like GC, assuming that he does not list them raw.    And the last option I can think of is if there is a coin show large or local in your area you could see what dealers are offering buying at during the show.

Selling to another collector via one of the coin forums or on ebay will give you the best chance to maximize the dollars, just depends on the market demand for what you have to sell.

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