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1800 Dollar - Advice Needed Please

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New Member
United Kingdom
24 Posts
 Posted 08/24/2012  3:39 pm  Show Profile   Bookmark this reply Add troyster to your friends list
Sorry Colonialjohn, I don't follow your message. You'll need to spell it out to me.
It's true that I want to sell without too much hassle, for a reasonable price. It is difficult when I'm in Scotland and I have to post it overseas for authentication and then have to think about an auction house.
I'm happy for a dealer to make a decent profit, but don't want to be ripped off.
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United States
23522 Posts
 Posted 08/24/2012  4:01 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list
If I may, troyster, the message from colonialjohn is thus:

Your coin is hugely liquid in the market, and consigning it to auction involves very little effort on your part. Buyers will form a queue to bid on it. Against each other, and you win. Although there's no argument that a dealer deserves a profit, conversely there's no need for you to deny that profit to yourself.

The dealer you contacted is grading this coin by Continental standards, which differ in a very conservative direction from the standards used in the US. The latter are the standards by which knowledgeable buyers will determine grade and valuation.

Even if it's not your intent to liquidate now, this one needs to be in a PCGS slab if liquidation is a conceivable option going forward.
New Member
United Kingdom
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 Posted 08/24/2012  4:08 pm  Show Profile   Bookmark this reply Add troyster to your friends list
Thanks for the translation Ssuperddave.
Yes I do intend to sell it, so I guess I'll have to send it over. The dealer I spoke to in Edinburgh strongly recommended that I didn't send it to PCGS nor get it slabbed.
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United States
16679 Posts
 Posted 08/24/2012  4:12 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list

Quote:
The dealer I spoke to in Edinburgh strongly recommended that I didn't send it to PCGS nor get it slabbed.



In two words, he's wrong. Not only will certification by PCGS show that the coin is genuine, it will also secure you the most profit come auction time...believe me.
This is one coin that is highly counterfeited, especially by Chinese counterfeiters.
You may want to go the secure plus route...just an option.
swcoin.ecrater.com
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23522 Posts
 Posted 08/24/2012  4:19 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list

Quote:
The dealer I spoke to in Edinburgh strongly recommended that I didn't send it to PCGS nor get it slabbed.


That would effectively dismiss the US audience for your coin, which means 95% of all interested bidders. A coin of this magnitude is inappropriate in a public auction outside a slab. Indeed, were I you I'd be considering a US venue such as Heritage or Stacks/Bowers for the liquidation - although Spinks enjoys a deserved stellar reputation, the US audience is unlikely to be tracking Spinks auctions.

My move would be to contact Marc Emory at Heritage Auctions. He oversees Heritage's Continental operations - they have three locally-staffed offices in Europe. If you choose to consign with Heritage, they will likely also be able to handle authentication and slabbing for you. On the other hand, slabbing first would be an immediate qualification for their attention.

http://coins.ha.com/common/about.php?target=europe
New Member
United Kingdom
24 Posts
 Posted 08/27/2012  5:27 pm  Show Profile   Bookmark this reply Add troyster to your friends list
SsuperDdave, I took your advice and contacted Heritage Auctions and also emailed them photos of the coin. They replied that they estimated the grade at AU50 and the price at between $7000 and $9000, but obviously they'd need to see it in the flesh to be sure.
So I intend to send it to them, but so far I've only been able to find postal insurance up to £2500, so I'll probably have to look into courier services. Looks like I may be cheaper taking a flight to Dallas!
Thanks again!
Pillar of the Community
United States
5862 Posts
 Posted 08/27/2012  5:44 pm  Show Profile   Bookmark this reply Add barryg to your friends list

Quote:
He said the coin is relatively common in the US, and to achieve much more money it would have to be in mint condition.
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The dealer I spoke to in Edinburgh strongly recommended that I didn't send it to PCGS nor get it slabbed.


This dealer sounds like a real snake. Not only is this coin not at all common here in the US (especially in decent to high grade), but the demand for this coin is going to be much, much higher here in the US than elsewhere.

And telling you to not bother having it graded and slabbed is likely just so you don't find out how much of a low-ball offer he was giving you.
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 Posted 08/27/2012  6:30 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list

Quote:
SsuperDdave, I took your advice and contacted Heritage Auctions and also emailed them photos of the coin. They replied that they estimated the grade at AU50 and the price at between $7000 and $9000, but obviously they'd need to see it in the flesh to be sure.
So I intend to send it to them, but so far I've only been able to find postal insurance up to £2500, so I'll probably have to look into courier services. Looks like I may be cheaper taking a flight to Dallas!
Thanks again!


It has been a sincere pleasure to work with you on this matter. We see new members inquiring about their coins every day, but few have offered a coin more fascinating and important as yours. Please keep us abreast of developments.
Valued Member
United States
66 Posts
 Posted 08/27/2012  6:33 pm  Show Profile   Bookmark this reply Add John R to your friends list
what a great success story, amazing help here. Bravo.

Troy, mailing insurance can be a problem. you might also ask Heritage if they have a private insurance carrier they can recommend to get the coin to them. The private option is often much less expensive.
Bedrock of the Community
United States
10982 Posts
 Posted 08/27/2012  6:38 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list

Quote:
SsuperDdave, I took your advice and contacted Heritage Auctions and also emailed them photos of the coin. They replied that they estimated the grade at AU50 and the price at between $7000 and $9000, but obviously they'd need to see it in the flesh to be sure.
So I intend to send it to them, but so far I've only been able to find postal insurance up to £2500, so I'll probably have to look into courier services. Looks like I may be cheaper taking a flight to Dallas!
Thanks again!


Try UPS or FedEx. You should get £5000 insurance.

I like the idea of slabbing it before sending it to Heritage but either way, it must be slabbed.

Also remember there is a chance it will return from PCGS or NGC in a "Details" holder and that will cut the value in half.
ANA #R3154474
Pillar of the Community
United States
3253 Posts
 Posted 08/27/2012  7:52 pm  Show Profile   Bookmark this reply Add philadelphian to your friends list
Glad to hear Heritage thinks as highly of your coin as we do, troyster! Did you know it was designed and executed by a Scot? Literally, anyway; it's not clear whether Robert Scot came from Scotland or England before he ended up cutting dies in Philadelphia. By accounts, most considered him something of a jerk, but that artistic temperament; what can you do?

And if anyone hasn't ever really taken a good look at the Draped Bust design on a well-preserved specimen, of the size of a dollar, which can do it justice, go back to the first page of this thread and spend some time on the pics. That ribbon isn't just stuck on the back of her head; it's drawing back and shaping her tresses. This is a work of art.
Valued Member
United States
255 Posts
 Posted 08/27/2012  8:02 pm  Show Profile   Bookmark this reply Add Kellyk to your friends list
Wow! Great drama unfolding in these texts. I am so glad you did not sell it to the first dealer for his price. Just reading all the posts is exciting. I cannot imagine how it must feel to actually own this coin and discover how rare and valuable it may be. Just wanted to send my good wishes and hope that there is a very happy ending to your story. Best of luck !
Bedrock of the Community
United States
17884 Posts
 Posted 08/28/2012  11:21 am  Show Profile   Bookmark this reply Add Conder101 to your friends list

Quote:
Try UPS or FedEx. You should get £5000 insurance.

You can, but since they don't insure coins, even collectable coins (it's in their terms), if something happens to it they will not pay off on the insurance.

A courier service would probably be too expensive. It is possible to get private insurance on a shipped item. I would agree with talking to Heritage about the shipping problem. They do have private shipping insurance and they may be able to help you find a private insurer or even a way to cover it under their insurance. Talk to Heritage.
New Member
United Kingdom
24 Posts
 Posted 08/28/2012  12:21 pm  Show Profile   Bookmark this reply Add troyster to your friends list
Thanks everyone.
BH1964 said this "Also remember there is a chance it will return from PCGS or NGC in a "Details" holder and that will cut the value in half."
I don't know what a details holder is and why it would devalue the coin. Anyone explain?
Pillar of the Community
United States
3253 Posts
 Posted 08/28/2012  12:28 pm  Show Profile   Bookmark this reply Add philadelphian to your friends list
"Details" means there's damage to the coin, so the grader will only go so far as to say that the "details" of the coin are AU-50, but the overall coin is something worse.
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