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 Replies: 37 / Views: 3,420 |
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Pillar of the Community
United States
3401 Posts |
I always check recent sold prices at Heritage and GC, then subtract out the BP. Numismedia seems to give fairly accurate values. NGC and PCGS values are rarely very close to reality. Ebay BIN prices don't mean anything. I've never sold anything so that's just what I use when buying.
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Pillar of the Community
 United States
2157 Posts |
I'd second the recommendation on checking out Great Collections. I've consigned to them 6 times in the past year to auction off parts of my collection that were either upgraded coins or coins in areas that I've lost interest in.
Their listing/seller's fees are quite low and they charge 10% or 12.5% buyer's fees which aren't bad compared to, say, Heritage or Stack's.
Turnaround time for getting the coins listed and receiving your payment afterwards is reasonable. Ian Russell is also very pleasant to deal with.
Edited by hokiefan_82
03/27/2023 4:56 pm
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Valued Member
Topic StarterUnited States
78 Posts |
Below is data: Attached are 10 Peace dollar duplicates that I am going to sell. All are in NGC holders. The columns are the date, the grade, NGC retail price, grey sheet retail price, grey sheet wholesale price, and 'profit' if a dealer could buy at wholesale and sell at grey sheet retail. I have also spot checked 5 of the coins final selling price on ebay and the results are that the selling price was very close to the NGC price . I believe ebay takes about a 7% cut, and then there would also be mailing and insurance costs to consider, so expense might be around 10%....I will be looking at the remaining 5 coins on ebay , so that I will have decent data to decide upon a fair price to sell at. Note that there is , according to grey sheet, about a 31% spread between wholesale and retail prices. I am picturing the whole sale price being what a mega-dealer might pay who does 1000's of transactions daily or weekly. I wouldnt think that a 'mom and pop' coin dealer is paying wholesale and selling at retail making a 31% profit. (otherwise, I need to start a new career). I guess I'd like to ask you knowledgeable people or dealers, what would be a fair price for my local dealer to pay and for me to sell. I have close to 60 graded coins that I am planning to sell, once I collect all the data ( I subscribed to greysheet per suggestion). I am in no rush. It seems that I could post the coins on ebay and over time - weeks, months, sell all my coins and after expense be about 10% under NGC . Going the dealer route is simpler and more efficient for me. Is 15% off grey sheet retail 'fair' -? I'll appreciate any comments or thoughts, especially by a dealer. 1922 -S 62 80 74 55 35%
1923 D 58 60 115 85 35%
1924 63 75 65 48 35%
1924-S 55 135 108 80 35%
1925 S 61 150 195 150 30%
1926 D 58 100 128 95 35%
1927 61 150 156 120 30%
1927 S 58 190 260 200 30%
1928-S 58 190 143 110 30%
1934 S 50 415 429 330 30%
1545 1673 1273 31% |
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Valued Member
Topic StarterUnited States
78 Posts |
So I am not a dealer . I'm just a guy who got into collecting coins 25 years ago and now looking to let go about 100 NGC graded coins. I appreciate comments people have made, so I am going to document the process as I attempt to sell 10 Peace dollars. Maybe some other non-professional can learn from what I find out As was suggested, I did purchase the grey sheet values, both retail and wholesale. (As part of that purchase I also received NGC and PCGS whole sale prices ( blue sheet values). The wholesale price for grey sheet was $1273 and retail was $1673. I also looked up NGC prices on their website to come up with $1545 which would be a retail figure I then sent a letter off to Littleton Coin with this information ; "Upon review of your Peace dollar Collection listed, the approximate wholesale value of your group is roughly around $665-$865 for the group at this time." I was pretty surprised to see such a low range from them. My next step, as was suggested, was to look at sales prices for the coins. SO I went onto eBay, and looked at all recent (2023) sales in NGC holders for the 10 coins in my grade and that number is $1749. Granted, eBay takes their cut which I think is around 7% and shipping seems to be in the $3-5 range. It would seem that if I go onto eBay to sell the coins, I might expect to net around $1600 Armed with this information, this week I will stop at a couple local coin dealers to see what they might be willing to pay for the set. I have also looked into Great Collections and has been suggested and take about 10 ( Walking Liberty halves) coins , do the same research (ebay, grey sheet) and then see how that process goes . I'll update this string when there is something to report. Comments and suggestions are welcome. |
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Pillar of the Community
United States
2304 Posts |
I'm semi-retired & sell various items on eBay and other venues. I have an eBay store and am a Top Rated Seller. My fees on coins are close to 10%. Without a store or TRS status your fees will be higher. If I had to guess I'd say in the 13-15% range. Shipping of $3-5 sounds right as long as you aren't buying insurance. Once everything is said & done you might end up with 80-85% of average eBay sold prices if you sell them yourself.
In the antique/vintage/junk business there's a general rule of thumb that wholesale is about a third of retail. A third goes to overhead leaving roughly a third for profit. I don't go by that for a lot of reasons but most businesses are only going to pay 30-50% of retail. That seems to be about where Littleton's "value" is. The exception to that is for higher dollar items, high demand items, or a combination of the two.
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Pillar of the Community
Canada
4689 Posts |
To a dealer who wants to STOCK your items , 10 to 20 per cent back of grey sheet will be a rough ball park . The coins you have listed are not the most popular grades for Peace dollars and in my opinion will be a real "tough sell". Do wish you luck ! Selling coins is a "tough way to make an easy living " . That said have some fun and see how you make out . Cheers ! |
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Valued Member
Topic StarterUnited States
78 Posts |
Ok..Here's an update. Went to two dealers. .One offered $930 and I'm sure that was an initial negotiation number. The other dealer seemed way more experienced and professional . He asked what I'm looking for and I told him somewhere between $1500-$1600 for the ten. offered grey sheet (approximately $1300). The next step is going to put a few up on ebay and a few with Great Collections. and see what happens. Does anyone know if there are people who sell coins on consignment - or is that what Great Collections is, basically.
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Pillar of the Community
United States
1451 Posts |
Quote:
The next step is going to put a few up on ebay and a few with Great Collections. and see what happens. Does anyone know if there are people who sell coins on consignment - or is that what Great Collections is, basically. Yes that is basically what Great Collections is as well as some other auction sites like David Lawrence https://www.davidlawrence.com/sell-...e-rare-coins and Heritage Auctions as just two other examples for future reference. https://coins.ha.com/why-consign-wi...itage-080520If you are comfortable selling on ebay and don't have a terribly low feedback account only, its just that you might be able to better control the asking selling price (and therefore not sell if too low initially), add a best offer after a bit if its not moving or even change to an auction in some cases etc and perhaps maximize return but is more work for you. Of course with the low fees, the Great Collections option is quite attractive in this case, while in others where the coin may only appeal to certain collectors may not be as good as selling yourself. David Lawrence has higher fees but other options like buy it upfront from you like a dealer, or even their guaranteed auction program in that link above. Dealers are best for a quick sale with lower expected totals than the other options although some types of coins can be quite fair in their offering more than others. An example might be collectible silver coins which dealers might only offer the silver value rather than the added numismatic collector value and therefore wouldnt be a good option. Some individual sellers may offer consignment but the fees combined with the ebay fees are going to rarely be attractive in this case vs your other options. Perhaps with other types of product where auction sites are not a great option for it.
Edited by datadragon
04/13/2023 6:08 pm
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Valued Member
Topic StarterUnited States
78 Posts |
Thank you for your comments. The David Lawrence options that he offers seem pretty interesting. I don't know how well known his site is. In terms of Peace dollars, he has 27 coins whilst Great Collections has 432 Peace dollars. 165 vs 413 on Walking Liberty half dollars and 377 vs 2144 Morgans. I'm not really sure what this all means other than it seems GC may be better known. |
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Pillar of the Community
United States
3401 Posts |
Keep in mind with the auction houses most bidders are going to subtract BP from their max bids. If you went with GC, their seller fee is 5%, their BP is 12.5% (10% if paying by echeck etc), so subtract 15-17.5% from your $1500-1600 you hope to get out of the 10 coins you detailed above. I added up the Numismedia values on those and got $1357. It doesn't seem like the hammer prices would be much different than a range of $1350-1500, and you'd net about $1150-1275. If that dealer offered close to $1300, I'd take the money and run. What am I missing?
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Pillar of the Community
United States
1755 Posts |
Ebay does not take 7%, its double that.
You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
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Valued Member
Topic StarterUnited States
78 Posts |
Thanks kbbpll...
I don't know what a BP is (other than blood pressure); can you explain ? What you are missing is that the range I am looking for, $1500-1600, is a net price AFTER expense and is based upon the median price of sold NGC coins on eBay for the 10 coins in the grade. For my set of ten coins , the median eBay sales price was $1749. so $1500 net price is 85% of the gross price. Taking $1300 is a 25% reduction off the median eBay sales price and since I'm in no hurry, at the moment, I think I can do better than$1300
I am in the process of looking at the GC sales for my coins in their grade and while their expenses are lower, the gross sales price off GC appears to be significantly lower than the gross sales price off eBay. For example, 1934-S median sales price on ebay in grade 50 is 418 and on GC is more like 350 with a hammer price of 320. Similar story with the 1928-S and the 1926-D. Why the median gross sales price appears to be significantly lower on GC than eBay is unclear ( sophistication of buyer?)
So at this moment I am still doing my research but my preliminary thinking is to go through the learning curve and see how I do on eBay.
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Valued Member
Topic StarterUnited States
78 Posts |
and Yes..I now think eBay sales cost for coin is gonna be 13.25% ( not the 7%)
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Pillar of the Community
United States
6120 Posts |
@shug23,
Your post illustrates the issues with selling. If you don't have time or your time is valuable, selling to a dealer makes sense but if you have time you can get the highest resale by selling it yourself. In the end the value of your time in addition to the expense of selling it yourself has to outweigh the profits. For some people like you, selling it yourself may make the most sense for others selling it to a dealer may make more sense.
As to why GC may net less is that there are less buyers on GC, the average GC buyer maybe looking for high grade/high cost coins. eBay tends to be higher priced on average, hence why some buyers rarely use eBay. You can also have a bad listing, I've gotten coins on eBay cheaper than what it cost the dealer to grade the coin.
I wish you good luck in whatever you decide.
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Valued Member
Topic StarterUnited States
78 Posts |
Thanks. This is all a very educational process. The other idea I have is just going to a coin show, getting a 'booth' and displaying my 100 coins ( after researching a competitive price). Is this a reasonable thought ? What is a typical cost to have a space ? 50 bucks, 100 bucks ? Is that the only cost aside from my time ? Or is this a terrible idea ?
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Replies: 37 / Views: 3,420 |
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Posted 03/27/2023 4:55 pm
