Dollar1948
Pillar Of The Community
Canada
636 Posts
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I've got perhaps 100 Canadian coins all denominations from approx 1980 onward, that are presently sitting with the cellophane from the proof-like set, (I took the others for my own collection), or they are in 2 x 2 's and look as good as if they were still in the set itself.
I want to get rid of this stuff, either sell, or trade, however I have never made a transaction like this with this type of material with any of the dealers I deal with. I do know they will want this stuff and they do sell this type of material because I have bought tons of it in the past.
My question is, because of the number of coins involved, it really is impractical to look every one up and see what the trend value is, coin by coin, year by year. (there are no big bucked varieties, I do know that). Is there a standard formula that you have used in the past in order to decide a fair value of this material. Perhaps double face value? I am cognisant that the dealer needs to make a buck so I certainly do not want to take an insulting approach in dealing with him.
I do have numerious silver and pre 1920 coinage, that I know warrants this type of individual scrutiny, but that will be at another time.
Any advise would be appreciated, not only from sellers but perhaps from experianced collectors that have gone through this exercise.
Thanks so much
Martin Edited by Dollar1948
02/18/2009 10:43 pm
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Valued Member
Canada
333 Posts |
Selling to a dealer will be the fastest route, but not necessarily the most profitable.
Remember dealers have to make a profit and cover their overhead.
So they will obviously buy at a discount depending on several factors:
1) If the coin set has a quick turn around they pay more.
2) The cost of the item. A low cost coin (under $10.00) is heavily discounted (sometimes more than 50%). A high value coin worth several hundred dollars is discounted less (maybe only 10%)
3) If the coin is certified by a major organization, this adds value.
Charlton has two types of books in print:
1) "Charlton Standard Catalogue" price listings of dealers will charge for coins.
2) "Standard Coin Guide" price listings of what prices dealers pay for coins.
I would get a hold of the second book and this would give you an idea of what dealers pay. The first book goes into coin details and retails typically for $20.00, the second book just has dealer price offerings and sells typically for $8.00
I would be tempted to say, list a few items on eBay and let the market decide. But remember eBay can claw back easily up to 25% in listing, final value and Paypal transaction fees.
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Pillar Of The Community
Canada
636 Posts |
Thanks everyone..I was able to get rid of all the proof-like material today through the dealer I would have bought this same material in singles if I needed to. He has a few customers that fill in their collection by buying good examples of these later date coins.
What we did is totaled up the face value of all the coins and multiplied it by 2. This was my suggestion and he approved. The only exceptions were some of the loonies and twoonies with a W mint mark, that were originally released only in sets. We just took the graded trends value, and divided it by 75%,
I don't really care that he got the better end of the deal..like you said the guy is trying to make a living.
It equated to 75 dollars, so I ended up trading most of the value for a key date 1923 1 cent, and a couple late 80 upgrades, and 100 2 x 2 flips.
Thanks again
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Topic Locked
Posted 02/18/2009 10:26 pm
