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 Replies: 40 / Views: 3,555 |
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Pillar of the Community
Canada
3692 Posts |
.999 fine silver is too soft for everyday wear. I would not have made that move. Do you have children? If so, will them over to them on the condition that they are 21+ years old and have at least your level of knowledge on coins.
People here are saying don't sell to dealers. Well, in your case you want a fast sale, no? That's the service that they provide. Plus you know that they will actually enter the hands of collectors because dealers don't spend them into circulation. That's their business.
But in my humble opinion, you should pass them down to your offspring and hope they do the same.
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New Member
 United States
9 Posts |
Thanks for the reply Lib.
We actually chose the silver because of its softness as it would give the rings a nice worn, loved look over the years. And if we need to make some repairs as it were, our blacksmith friend is in town.
We don't have kids nor do we plan on having them so passing them on is never something I planned on. .
A quick turnaround on the sale isn't integral. I've got the time to do it right and basically make it a full-time job but I just wanted to really figure out if that was viable.
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Pillar of the Community
United States
593 Posts |
For the modern rolls, I would list them on ebay with an opening bid of 30% over face with Free Shipping. If nobody bids, offer them to a local dealer for 10% over face. If that doesn't work, deposit them in the bank. You have obviously spent a lot of time researching this, and that's good, but you should spend your additional research time in the areas where there are good opportunities for big profits, for example, the early S mint Lincoln Wheat cents. Don't worry about who will get them into the hands of a collector first. The good ones will all eventually make their way there at some point. If you are able to identify single coins that are valuable (like early Lincoln S mint pennies), you are likely to send the coins directly to a grateful collector and get the best return on that coin! The large accumulations are of more interest to dealers, but that's OK. They will find homes for many of those coins in collectors' albums. Use your Red Book to determine the 10% of coins that represent 90% of the value and disposition the rest in the most efficient way possible. I recommend starting with an opening bid over face value (about 10% over, at least). Some sellers start at a penny and generate a lot of interest but you don't have the following to pull that off. Trust me, I foolishly tried that with some stamps and took a bath! I would make sure that, after ebay and PayPal fees, and shipping expense, I did better than break even. Otherwise, why bother? |
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Bedrock of the Community
13014 Posts |
Quote:
I recommend starting with an opening bid over face value (about 10% over, at least). Some sellers start at a penny and generate a lot of interest but you don't have the following to pull that off. I really dislike the penny method unless you are a large coin store a lot of people watch the items of. Sometimes it does work great, but a lot of times its goes way under where it should like what happened to lars. Personally I always say dont list an item for less than the bottom price you are willing to take for it. If it gets bid up that great, if you one get 1 bid you still got an amount that you wanted anyway. ebay auctions can be all over the place and theres nothing worse than having an item go for less than you wanted, then have to pay fees on top of that, after putting the time into list it. |
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Pillar of the Community
United States
2254 Posts |
Welcome Space Carny, I apologize for not seeing this sooner. Sorry about your loss. Having said that, your collection is quite large and could have quite a few gems hidden in there. While it will be relatively painful, you need to inventory everything and put it into a spreadsheet or something. Create a different tab for each coin type if you like. That would probably be easiest. From there we can ask for pictures of what could be more valuable to steer you in the proper direction. I know we have a large coin show coming up in Philly and our forum owners will be attending that so they are quite busy, but you may want to consider consigning your coins to them. A lot of people on here have done this in the past including myself and they have a very large following on ebay to realize you the highest prices. Of course the service is not free, but the exposure you get makes up for the percentage plus some. If you have any question at all, definitely post on here and our members are sure to help you. |
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Pillar of the Community
United States
593 Posts |
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People here are saying don't sell to dealers. Once the 10% of the items with 90% of the value has been identified, the rest could be consigned to a dealer for sale at a percentage. The dealer would likely be able to identify a few unnoticed treasures that would more than make up for his percentage. A dealer would also know how to package the coins to get maximum value (singles, small lots, larger lots). In that case a dealer would be the best way to go. For individual high-value items, though, your best bet is selling on ebay and starting with a price just a little lower than what similar items sell for. You can get history reports on how much stuff is selling for, although grade is a key consideration. |
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Pillar of the Community
United States
3486 Posts |
There is something quite refreshing, Space Carny, about your original post:
respect for your father
doing good by your siblings
balancing the "quick" payoff in contrast to the time and effort and expense of
doing a lot of homework.
No matter which course you eventually take, you are miles/kilometers
ahead of those who want a simple and easy answer to the sad problem
of an inheritance.
I wish you well.
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Bedrock of the Community
United States
20753 Posts |
 Might as well throw in my 2 CENTS. My suggestion is based on time. IF you have the time and the interest, you could stick around here for a while. Read the rules of buying and selling to members here. Once you get enough posts, you could possibly contact members to buy the entire collection. Just because they are a member here doesn't mean you will get the best deal, but I would think the coins would go to a collector and not just people. And too they could all end up in a kids collection if a parent was nice. Of course this would take a little time making posts but also getting to know members. I would stay far away from any lists where you would have to meet someone somewhere. I think ebay is also a large waste of your time but might get rid of a lot of coins if you posted you want to sell all. Meanwhile back to your statement of having brothers. None of them want this collection? What a shame that something your Dad may have spent so much of his life collecting and no one wants it even as a momento of his memory. Coins are the one thing I always remember my Dad for. He didn't collect them but gave me the ones I wanted and I still have many of those. |
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Pillar of the Community
United States
1227 Posts |
SpaceCarny, I want to agree with just carl. I collect for my nieces, but do so on a shoestring budget (most of what I have for them I buy at face out of my cash drawer at work). There are items on your list that look interesting to me, and while they wouldn't technically be handed down to "your" next generation, they would certainly be cherished and passed on to "my" next generation--as, I think, your dad intended (that's how the coin collectors in my family feel, at any rate).
Stick around for a bit while you sift through what you've got. I'm sure I'm not the only one trying to build up an inheritance for numismatists yet to come.
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New Member
United States
9 Posts |
Hi folks,
I have pictures and thoughts to share but these last few days have been quite busy so hopefully I can have time today or tomorrow.
I DID want to say now though that I appreciate the thoughts and advice and it's not being posted for naught, I'm still here.
SC
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Posted 07/12/2012 7:48 pm
