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 Replies: 25 / Views: 3,963 |
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Valued Member
United States
142 Posts |
Where would I sell my coins for the best profit? No, I am not going to sell my coins anytime soon, but I would still like to know where others sell theirs. I can't see a point in selling them on ebay and having to lose between 10- 20% on the sale in commission. Also selling them to a dealer you're most likely going to take a hit. Is this mainly a hobby that's not going to give a great return based off of the investment other than if the bullion becomes off the charts? Let me know, I'd love to hear what you guys think! Thanks in advance. |
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Bedrock of the Community
United States
10982 Posts |
I have used four sources for liquidating coins: 1) Direct sales through online forums like CCF. 2) ebay3) Auction houses like Great Collections. 4) Brick and mortar coin dealers in my area. 1 & 2 above are by far my biggest sources for selling. Auction houses are good if you have high-dollar ($1,000+) coins and can wait a few weeks for payment. B&M dealers typically pay half of retail so I only use them for bullion related sales where they pay full wholesale prices. Hope this helps! |
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Bedrock of the Community
Australia
21786 Posts |
As with buying, it depends what you have to sell. You may say: "Horses for courses". I collect World coins, ancient to modern, all cultures. Some of them would be worth $ hundreds or more. If I were to sell such pieces, they would have to go to a specialist auction. Those will be sent to auction on consignment. However, a lot of them would have an individual value of $10 or less, and it would be appropriate to ebay them in small groups. The collection has been acquired from about as many sources as you can think of, and will eventually be sold into those same markets in the same way. And I will have just as much fun selling them over a long period as I did in buying them in the first place. |
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Pillar of the Community
United Kingdom
856 Posts |
Not many people collect what I collect. So really, to find someone who will appreciate the variety of one of my coins rather than just view it as just another .... I prefer to find another collector.
While private treaty isn't necessarily the way to make the most money (a specialist auction house might raise more, but that's difficult to be sure about as things can go well, or not, on the day and that's before comission) most satisfaction is gained selling to another enthusiast.
That's also the way I've picked up some coins I otherwise would never have been able to find!
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Pillar of the Community
 United States
5953 Posts |
Just resign yourself to the fact you will probably not get even close to what you paid for most coins. Only bullion will have profit potential and that's potential. It's coin collecting and a hobby not an investment program. Unless you have a collection of high grade key date coins and can find a speculator..
Just enjoy the coins and forget about what they may or may not be worth.
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Pillar of the Community
United States
592 Posts |
Sell coins? I'm not sure what you mean, exactly. Are you saying you take coins out of your collection?
Edited by SaintRidley
06/02/2013 12:29 pm
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Pillar of the Community
United Kingdom
2871 Posts |
ebay fees may seem expensive - but as far as auction houses go they are actually one of the cheapest.
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Bedrock of the Community
13014 Posts |
Bacchus hit it on the head, the 13 percent on ebay is less than auction houses would take and much better than dealers would offer. |
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CCF Master Historian of USA Commemoratives
 United States
12261 Posts |
Quote:
Ebay fees may seem expensive - but as far as auction houses go they are actually one of the cheapest. If you have choice coins that are in demand in the marketplace, you can negotiate lower seller's fees at many traditional auction houses - sometimes below what ebay charges. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Bedrock of the Community
United States
20753 Posts |
Quote:
Sell coins? I'm not sure what you mean, exactly. Are you saying you take coins out of your collection? I too wondered what that statement ment. Sell my coins. I think I'd prefer to sell blood first. In reality I've thought about this over the years. IF, and that is not likely to happen, I was going to sell any coins, I'd just ask a dealer I know to sell them for me. Over the years I've gotten to know many dealers at coin shows. I think if I wanted to sell any coins, I'd just ask them to buy them or sell them for me. |
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Bedrock of the Community
Australia
21786 Posts |
It IS possible to make a very decent profit from the sale of your collection.
THAT has been my experience, anyway.
I started into serious collecting at 12 years of age.
My father had a small manufacturing business.
During my school years in my summer vacation and during term breaks, I worked for him for a total of about 3 months per year, as a process worker. Because he was my dad, he paid me a full adult wage for the hours I worked, and I paid my taxes.
He never charged me board for living at home.
So I could spend ALL of my money on coins (yippee!), and that is exactly what I did.
I started a collection of scarce Australian coins and developed an interest in Roman coins.
It took me some time to save, but I even managed to buy a couple of pieces of Roman gold by my late 'teens.
I also had an Australian gold type set comprising 17 coins, which included an Adelaide Pound.
I lived and worked in England for a couple of years in my mid twenties, and I bought a few interesting and scarce American coins and some Roman as well. I even furthered my education in England, studying at a local polytechnic.
I continued in the same theme back in Australia.
Then I met my future wife! By the time were married, my collection would have been worth perhaps 15% of the value of the house we bought.
The whole collection had to be sold. You cant put a roof over your head with a stack of rare coins!
The whole collection was sold on consignment, the proceeds supplying most of the deposit needed to secure our first home.
The collection had been put together over a period of about 18 years, and realised a profit of about 4X in relation to what I paid for it.
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Pillar of the Community
United States
1228 Posts |
I sold mine to coin dealer no profit made !
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Valued Member
United States
402 Posts |
I sell all my duplicate coins on ebay. Anything that's worth $20 or less I put them up for .99 cents and they bid like crazy. I sell maybe once every six months or so usually about a hundred or 200 items (not all coins). Last time I sold on ebay I doubled and tripled my profit expectations. The shipping is the easiest you can get. I get free tracking on all my shipping and PayPal handles all the transactions. While the fees are a little high they are nothing compared to Heritage or Teletrade fees. Even Great Collections charges 5%. Been selling on ebay for about 10 years now and never took a loss. Reach a lot more people than a few at the local coin shop (who also sells on ebay).
Just my thoughts.
edgman     
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Pillar of the Community
United States
7840 Posts |
B&M around my area are glorified Gold & Silver exchanges. Except one, and they did not offer much more when I tried to make a quick sale. CCF (which I prefer) is hit and miss; it depends on what you are trying to sell. ebay has options; auction, Buy It Now and Make an Offer. My collection is getting pretty eclectic and specific which narrows down the potential buyers who share the same tastes. "Roll the dice and take your chances" Edited by oih82w8
06/03/2013 9:28 pm
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Pillar of the Community
United States
8516 Posts |
Ebay, no if ands or buts.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Pillar of the Community
United States
624 Posts |
I find a lot of volume at USA Coin Book. They charge nothing for posting a sale and after the sale it's a flat 3% fee.
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Replies: 25 / Views: 3,963 |
Posted 06/02/2013 03:12 am
