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 Replies: 16 / Views: 1,431 |
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New Member
United States
6 Posts |
Hi. I hope all are doing well. I am brand spanking new to this. I obtained a coin "collection" as a result of a legal settlement and I don't know what to do with these coins. They are from all over the world (mostly Canada, Panama, Russia, Bahamas, etc.) and some are from the U.S. I want to sell them to help support my stepdaughter's college education costs, but I am really struggling to understand how to sell them. I took them to a local coin shop and the guy told me that most are pretty common and best option is to sell for MV (because silver content is high). However, I can't find ANYONE who will help me actually do that. I've emailed and called a lot of folks off the www, but people don't even respond. I'm befuddled and would appreciate any insight. Thanks!
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Bedrock of the Community
United States
37726 Posts |
 to CCF. Can you post a list and some photos? Someone here can give you an idea of value. You will most likely sell on eBay or maybe Craigslist. Any high value coins should go to an auction house and maybe even sent to be professionally graded/slabbed. John1 
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
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New Member
United States
6 Posts |
Thanks for the welcome! I have the coins in an Excel file list, but I am not sure how to include. I will figure that out and post. I will also figure out how to post a few pics. In my uneducated state, I believe I have a lot of coins, but it's likely not considered to be a lot by veterans on this forum. Many of the coins are "commemorative" coins made by the Franklin Mint and similar. They are in individual boxes (one coin or sets) and have "COA" sheets with them. None of them (I don't believe) have been professionally graded. I'll try to figure out list and pic posting process soon. Thanks again.
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New Member
United States
6 Posts |
I can't figure out how to upload the list (document file). For now, here is an example of some of the coins: BAHAMAS 1974 $5 via Franklin Mint 1975 $5 via Franklin Mint BRITISH VIRGIN ISLANDS 1973 - 1980 = 6 and 7 coin sets via Franklin Mint CANADA 1978 - 1986 = 6 and 7 coin sets via Royal Canadian MintMany individual year Regina silver dollars 1976 Olympic commemorative series 1-7 (28 coins) JAMAICA 1978 $25 25th anniversary of the coronation of Elizabeth II 1979 $25 10th anniversary of investiture of Prince Charles 1981 $25 royal wedding PANAMA Many coins 1974 - 1983 $20 balboa and sets 1983 $20 gold balboa coin RUSSIA Many individual coins 1980 Olympic 28-coin set There are many others. I just don't know what to do with these coins. Apologize for length of post. Thanks for any help. |
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Pillar of the Community
United States
1895 Posts |
Some of those I know will basically go for around spot price of silver (Bahamas, Canada, and Panama sets at least I know) but still even if that is the case you seem to have quite a bit of silver there.. I am not sure about the Jamaica, Virgin Islands, or Russian stuff but spot price seems likely based on the other stuff. eBay is a good place to sell it and also I heard there may be a "eBay Store Special" where for 3 months getting a store is $5 so you can save on the final value fees as long as these aren't listed in the Bullion category. Good luck and if there is more feel free to post it and people can give their input! :)
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New Member
United States
6 Posts |
Thanks Mister Kairu! I was hoping that I could find a local coin dealer or similar who would basically broker a deal for melt value, but I've totally struck out so far. I am concerned about selling on eBay or similar because I've never done that before and I honestly don't know if I have the time to respond to all of the (potential) individual sales, shipping, etc. I am not lazy, it's just that I am unsure about what to expect in terms of the time requirement and my potential inability to keep up with it all. I'd be plenty willing to get MV (instead of eBay re-sale/collector's value), but I just can't figure out how to actually do that. I also have the following:
10-coin sets of USSR coins via Leningrad Mint (years 1974 - 1980)
6-coin set of 1980 Singapore coins
7-coin sets from Cook Islands (years 1975, 1977 & 1979)
1978 Captain Cook Commemorative coin from Hawaiian Mint
8/9-coin sets from Panama (years 1977 - 1983)
Many "proof" and "uncirculated" sets from US Mint
MANY thanks
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Pillar of the Community
United States
1895 Posts |
In that case with the limited time (I know what you mean it is not being lazy but keeping up with eBay sales takes a lot of work!) it may just be easiest to go to an LCS and take the % of melt they offer. For example my dealer would offer me the melt value minus 5% since he knows at least at his shop they would just go into a world melt bucket since it appears many of your coins are just silver commemoratives. So if you had $600 melt value you would probably get 80-90% of that. Also with eBay they would already take out at least 10% in fees so in your situation it may just be better to take it to a dealer and get that price and be done with it. But of course double check around the eBay "recently sold" listings for your things to see if you have anything worth more than melt and that stuff you could possibly sell separately. If you do figure out how to get the list up on here you could also stick around the forum and learn some things and after a while you could always try selling stuff to some members here. Good luck to you with whatever you decide! :)
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Pillar of the Community
United States
1895 Posts |
Also just an FYI if you are curious about a coin's melt value you could always look them up on numista.com and search for them there at the bottom it shows what the current melt value would be for a particular coin.
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New Member
United States
6 Posts |
Very very helpful, thank you!
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Pillar of the Community
United States
1211 Posts |
You are saying that no LCS is willing to offer to broker a deal to sell your coins for melt value? Well, that is because that is not how the coin market works. You are trying to fit a square peg into a round hole AND reinvent the wheel.
If you have zero knowledge of the coin market and want the best return on the liquidation of your coins, your best bet is between 2 options:
1. Sell them yourself on eBay
2. Sell them yourself at a local coin club auction
If you don;t want to sell them yourself, then shop around at a few LCS and take the best offer you receive. It's really that simple.
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Bedrock of the Community
United States
37726 Posts |
thewaterdog, Most of the Franklin Mint stuff has little to no interest to collectors on the secondary market so melt is what you will most likely get. If you don't need the money right now hold on to the coins until silver value goes up or you need to sell. John1 ( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
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Bedrock of the Community
United States
54721 Posts |
Try a different LCS. Mine will buy any kind of odd silver for melt value (old sterling teapots, Israel commems, common foreign silver, you name it). This should be a relatively painless and simple process.
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Pillar of the Community
United Kingdom
2455 Posts |
Are the Jamaica coins in boxes? If so, they're worth a bit more than melt.
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New Member
United States
6 Posts |
Coinfrog: I also thought it would be painless (especially in a big city like Houston), but it's been very difficult. I've talked with probably 8 LCS and none have made offers. Nice folks and all of that, but no movement. Thanks!
Alganbagerap: Yes, they are in boxes with little "COA" cards/sheets. I see some listings where others are trying to sell them on eBay, but a friend of mine told me a) those are on there all of the time and aren't really selling and b) most potential buyers will not buy from someone (like me) without a good selling record. I don't have any track record of selling stuff on eBay, so my friend believes people will strongly hesitate to buy something like coins -- where some trust issues exist. Thanks!
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Valued Member
United States
348 Posts |
You could consider selling to a company like APMEX.com. I've heard good things about their purchasing. |
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Bedrock of the Community
United States
54721 Posts |
waterdog - Just amazed. I sold 34 Israeli silver commems two weeks ago at melt without any discussion - just an everyday transaction at this LCS.
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Replies: 16 / Views: 1,431 |
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Posted 09/08/2016 10:02 am
