Request advice in selling coins

I have been trying to liquidate a huge (at least to me it's huge)
collection of coins that I started in early 1950's. I am 73 years
old and although I hope to be around for a good number of years yet,
I don't want to leave this mess for someone else to clean up. None
of our four children or our nine grandchildren have any interest in
coin collecting other than the $ that my collection my represents.

Mostly, I have a lot (way too much) circulated stuff, but I do have
some great type coins, some nice unc coins, and proof sets. Bulk is
pretty much what most of you would call junk, though. I pretty well
have it inventoried.

With all the problems on EBay, especially with coins, I don't see a
rank amateur like myself getting involved. I did put three unc
cents up several months ago. Coins I bought for $1.75 about 1955,
brought $1.01. Not too spiffy.

Of course one alternative is to go to coin dealers. We have one in
town who seems to be primarily a buyer who sells wholesale to other
coin dealers. He has very little for sale in his shop. He says he
uses the gray sheet, which I have seen referred to here, and believe
it to be what dealers pay each other. We have no coin club in town
either so I can't even get any trustworthy advice.

I took a bunch of proof sets by for his bid. According to the Red
Book (2007 edition), they were worth about $1400. The dealer
offered me $600. This was such a discrepancy, that I didn't sell to
him. I understand and expect that a dealer doesn't pay retail, but
that seemed a bit, putting it nicely, low.

I would appreciate some advice on how best to get rid of this stuff.
Occasionally, I have seen people post FS notes on RCC, but don't
know if they sell anything that way. As great as you people are, it
is only a small audience to try to sell to. I suppose I could move
my gems and cash the rest in for face but I sure hate to do that.

Any suggestions would sure be appreciated.
Thanks in advance.
Bob-tx

On Nov 13, 1:38 pm, "Bob" wrote:
I have been trying to liquidate a huge (at least to me it's huge)
collection of coins that I started in early 1950's. I am 73 years
old and although I hope to be around for a good number of years yet,
I don't want to leave this mess for someone else to clean up. None
of our four children or our nine grandchildren have any interest in
coin collecting other than the $ that my collection my represents.

Mostly, I have a lot (way too much) circulated stuff, but I do have
some great type coins, some nice unc coins, and proof sets. Bulk is
pretty much what most of you would call junk, though. I pretty well
have it inventoried.

With all the problems on EBay, especially with coins, I don't see a
rank amateur like myself getting involved. I did put three unc
cents up several months ago. Coins I bought for $1.75 about 1955,
brought $1.01. Not too spiffy.

Of course one alternative is to go to coin dealers. We have one in
town who seems to be primarily a buyer who sells wholesale to other
coin dealers. He has very little for sale in his shop. He says he
uses the gray sheet, which I have seen referred to here, and believe
it to be what dealers pay each other. We have no coin club in town
either so I can't even get any trustworthy advice.

I took a bunch of proof sets by for his bid. According to the Red
Book (2007 edition), they were worth about $1400. The dealer
offered me $600. This was such a discrepancy, that I didn't sell to
him. I understand and expect that a dealer doesn't pay retail, but
that seemed a bit, putting it nicely, low.

I would appreciate some advice on how best to get rid of this stuff.
Occasionally, I have seen people post FS notes on RCC, but don't
know if they sell anything that way. As great as you people are, it
is only a small audience to try to sell to. I suppose I could move
my gems and cash the rest in for face but I sure hate to do that.

Any suggestions would sure be appreciated.
Thanks in advance.
Bob-tx

If you dont want to sell them on ebay. Dealers wont give you full
value either. They have to make a profit. You might try and local
auction. You can break it up or sell it as one big lot. Ive had pretty
good success selling the junk coins in big lots. In fact i like to buy
junk coins at auctions. I usually will pay a little more than there
probally worth hoping the person selling them mighta missed a few
good ones. I have cherrypick some decent varieties from auction lots.
Its fun looking through them. So if you know anyone having an auction
see if they'll let you throw them in. Good Luck

K Balch http://coinfinds.blogspot.com

With all the problems on EBay, especially with coins, I don't see a
rank amateur like myself getting involved. I did put three unc
cents up several months ago. Coins I bought for $1.75 about 1955,
brought $1.01. Not too spiffy.

What you paid for them does not affect what they are worth today.

You can't judge what can be done on eBay by three listings. What you
listed, and how well you listed, can make a great difference. Provide
a link to one of the auctions so we can see how well you presented the
coins.

I took a bunch of proof sets by for his bid. According to the Red
Book (2007 edition), they were worth about $1400. The dealer
offered me $600. This was such a discrepancy, that I didn't sell to
him. I understand and expect that a dealer doesn't pay retail, but
that seemed a bit, putting it nicely, low.

You were disappointed on eBay because you didn't make a profit on your
coins. But you don't want the dealer to make a profit. Not too
spiffy.

I would appreciate some advice on how best to get rid of this stuff.
Occasionally, I have seen people post FS notes on RCC, but don't
know if they sell anything that way.

Most of the FS: posts link to eBay auctions, not direct sales.


--


Tony Cooper
Orlando, FL

On Nov 13, 4:38?pm, "Bob" wrote, in part:
I have been trying to liquidate a huge (at least to me it's huge)
collection of coins that I started in early 1950's. I am 73 years
old and although I hope to be around for a good number of years yet,
I don't want to leave this mess for someone else to clean up. None
of our four children or our nine grandchildren have any interest in
coin collecting other than the $ that my collection my represents.

If you'll adopt me, I promise to take care of your collection as you
did, Daddy. :-)

Sadly, if none of the children nor grandchildren are interested in
your collection, you'd do best to transfer it to someone who would
apprecaite it. Do you have any nieces, nephews, or other relations
that would like it? As far as my own collection, even though none of
my children are into collecting to the same degree as I am, they would
all love to have at least a part of it for themselves. My will has a
rider that I update constantly that reflects who gets what. It's the
easiest way to go since coins come and go from my collection all the
time.

To get back to your collection, kebn and Tony offer good advice. If
you compare your coins to completed auctions on ebay you'll have an
idea what your collection would be worth. Dealers have to make a
profit, otherwise they'd be out of business. Common stuff that
doesn't move might only bring about 50% of value, if anything at all,
while high turnover items (e.g., a 1999 silver proof set) may bring as
much as 90%.

You could also put up a FS post and list everything you've got. For
your "junk" coins, spending them might be the easiest method of
disposal. Mint sets, proof sets, commemoratives, eagles and odd-balls
would do better. Good luck, no matter what you decide.

Jerry

"tony cooper" wrote in message
...
With all the problems on EBay, especially with coins, I don't see
a
rank amateur like myself getting involved. I did put three unc
cents up several months ago. Coins I bought for $1.75 about 1955,
brought $1.01. Not too spiffy.

What you paid for them does not affect what they are worth today.

You can't judge what can be done on eBay by three listings. What
you
listed, and how well you listed, can make a great difference.
Provide
a link to one of the auctions so we can see how well you presented
the
coins.

I took a bunch of proof sets by for his bid. According to the Red
Book (2007 edition), they were worth about $1400. The dealer
offered me $600. This was such a discrepancy, that I didn't sell
to
him. I understand and expect that a dealer doesn't pay retail,
but
that seemed a bit, putting it nicely, low.

You were disappointed on eBay because you didn't make a profit on
your
coins. But you don't want the dealer to make a profit. Not too
spiffy.

I would appreciate some advice on how best to get rid of this
stuff.
Occasionally, I have seen people post FS notes on RCC, but don't
know if they sell anything that way.

Most of the FS: posts link to eBay auctions, not direct sales.


--


Tony Cooper
Orlando, FL
Tony, I think you may not have read my original post too carefully
when you replied - - -
"You were disappointed on eBay because you didn't make a profit on
your
coins. But you don't want the dealer to make a profit. Not too
spiffy."
I said that I understand and expect a dealer to make a profit (or
something like that) but less than half price for proof sets dating
back to 1953, was a bit heavy for me.
Also I was not disapointed with Ebay for not making a profit, it was
because I lost money.
Bob-tx

On Wed, 14 Nov 2007 04:20:47 -0600, "Bob"
wrote:

Tony, I think you may not have read my original post too carefully
when you replied - - -
"You were disappointed on eBay because you didn't make a profit on
your
coins. But you don't want the dealer to make a profit. Not too
spiffy."
I said that I understand and expect a dealer to make a profit (or
something like that) but less than half price for proof sets dating
back to 1953, was a bit heavy for me.

It wasn't less than half price; it was less than half of the Red Book
price. There's no indication that the dealer could have re-sold the
coins for the Red Book price. Red Book is usually very high retail,
and sometimes a price that no one gets.

The dealer may have had to carry those coins in inventory for months
before he re-sold them. Not all proof sets are in demand. Investing
his capital in something that won't turn over quickly has a cost to
him.

Also I was not disapointed with Ebay for not making a profit, it was
because I lost money.

You paid too much or you bought the wrong thing if you sold it for
less than you paid for it. That's not eBay's fault or the buyer's
fault.


--


Tony Cooper
Orlando, FL

On Tue, 13 Nov 2007 15:38:32 -0600, Bob wrote:

I have been trying to liquidate a huge (at least to me it's huge)
collection of coins that I started in early 1950's. I am 73 years old
and although I hope to be around for a good number of years yet, I don't
want to leave this mess for someone else to clean up. None of our four
children or our nine grandchildren have any interest in coin collecting
other than the $ that my collection my represents.

Mostly, I have a lot (way too much) circulated stuff, but I do have some
great type coins, some nice unc coins, and proof sets. Bulk is pretty
much what most of you would call junk, though. I pretty well have it
inventoried.

With all the problems on EBay, especially with coins, I don't see a rank
amateur like myself getting involved. I did put three unc cents up
several months ago. Coins I bought for $1.75 about 1955, brought $1.01.
Not too spiffy.


Well, as somebody who only recently entered the eBay game, I'd say you
may want to consider giving eBay another chance.

One thing is when you're new, you don't have a track record. So maybe you
shouldn't "lead" with what you believe are your most valuable items.
Start somewhere in the middle range. And you just have to expect to get
less than you'd hope at the beginning. You're trying to prove yourself in
the "feedback".

People do check the feedback. They want to see what track record you
have. Without one or without much of one, who knows what you're up to?
They want to see that other people have bought from you and are happy.

The more "coin as pictured" kinds of feedback you get, the more people
will be willing to bid on your auctions. The lower prices at the
beginning are kind of, oh, "cost of goods sold" you could call it? You
have to be willing to take less at first until more people trust you and
you can attract more bidders.

Also, there are a *lot* of knowledgeable folks around here. I lurk more
than I post because there are tons of people here who know more than I
do. So put up an auction and ask for comments. Also, watch the others
around here, check out their auctions. Plenty people around here who are
doing a fair amount of business on eBay and know what they're doing when
it comes to auctioning coins.

And the group allows "FA:" ("For Auction") posts. Which is great because
here's a whole newsgroup of coin enthusiasts who might just like your
coins.

I did all that and ended up doing okay on my first big round of coins.
They sold, on average, at the lower end of the range of what I saw the
same coins selling for on Harvest (one of the big auction houses). Which,
by the way, appears to be pretty much always below Red Book. Maybe the
Red Book is talking about the top price across the population? Something
like that?

I actually overpaid for my slabbed Morgans (hey, I was just getting
started, they obviously saw me coming G). So I took a "loss" in the
abstract. But I've gained the beginning of a track record as somebody who
is actually selling you what you see in the pictures. Which is important
in the eBay world. You can't run over and see the item so the picture
better be accurate or people are going to be Very Unhappy.


By the way, one person's "junk coins" are another's treasures. Especially
the old, high silver content "junk". Over time, going through things like
coffee cans of hideous, worn, circulated as all get out coins, I've
accumulated a surprising amount of "melt value" silver I've locked away
as bullion.

(I got started in all this as investor first, collector second, but the
latter is taking over g)

One thing I've noticed on eBay when I've looked for bargains in "junk"
silver is there can be a bit of a "frenzy" going on. I noticed this as I
always limited my max bid to a percentage below what it would cost me to
just buy bullion from my favorite dealer. Which dealer has a fairly low
margin over spot but to get that, you have to buy a hefty amount all at
once. I'd hoped eBay would be a way to get some smaller amounts at
reasonable prices.

I lost every single auction. Other people were willing to pay a much
bigger premium over spot than I was. Which has me mulling whether I
should put my "junk" silver up for auction.

The whole thing struck me as rather funny. I was taking a "loss" on
slabbed collector coins but could get a profit on "junk". I dunno.

People are weird. G

--
http://myworld.ebay.com/coigner

If you decide that you really, truly, want to "get rid" of it all,
please don't dump what you call "junk" at face value. I'm
not rich, but at least i would give you more than face value
for any pennies you have. I don't do eBay, because the
shipping makes it cheaper for me to go to a local coin shop.

My email is my name at yahoo dot com, if that's easier than
replying here.

SL

What kind of pennies (cents) are you looking for. I have some ($25.00 worth) I bought from
a friend who was taking them to the bank. No wheats but many 60's and such with luster. My
mother also gave me a bunch that were separated by date and I never opened the rolls or
counted them. If you are close to Arizona we might get together. I don't think the freight
would be worth shipping.

--
The real cause of crime is not a poverty of resources but a poverty of values.

http://www.johnlocke.org/agenda2004/crimepunisment.htm

Scaly Lizard wrote:
Nope, i'm at the opposite corner of the country, so shipping 50 rolls
would be too heavy to be worth it. Thanks, though!

50 rolls of pennies will fit in a flat rate priority box and cost you
about $9 anywhere in the U.S.

--
Jim Seymour

On Nov 15, 11:57 pm, Scaly Lizard
wrote:
On Fri, 16 Nov 2007 06:26:59 GMT, Jim Seymour
wrote:

Scaly Lizard wrote:
Nope, i'm at the opposite corner of the country, so shipping 50 rolls
would be too heavy to be worth it. Thanks, though!

50 rolls of pennies will fit in a flat rate priority box and cost you
about $9 anywhere in the U.S.

Really? Do you mean the USPS Priority Mail? Last time in
the P.O. i noticed that they advertise "if it fits, it ships" but
they must have some kind of limit, or no?

I think there are 144 pennies to a pound, so 50 rolls would
be almost 18 pounds. Can a Priority box hold that kind of
weight without rupturing in transit? Judging by the size, one
could conceivably put some lead ingots in there and ship
80 pounds for $9.

Reminds me of the story about The Bank Of Vernal in Utah.

In 1916 the bank's builder, W. Coltharp, found that the cost of
shipping 80,000 bricks from Salt Lake City was $1.70/pound
by rail. But Vernal was 65 miles from the nearest rail station,
so a long trip by wagon freight would be needed too.

Coltharp noticed that the Post Office's parcel post rate was
only $1.05 per pound. In a stroke of devious genius, he had
the bricks wrapped for a minimal cost, put into 50 pound crates,
then simply mailed them to himself in Vernal.

SL

Yep just make sure you reinforce the inside of the box. to much tape
on the out side they might not let you send it. Ive seen boxes mailed
that were about 60 70 pounds...full of bullets..ive sent 5000 wheats
in one of those boxes also. just tape the inside really good with some
duct tape.