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 Replies: 15 / Views: 1,854 |
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Valued Member
United States
258 Posts |
I have finally decided that it is time to sell or trade some extra coins in my collection and I am going to my LCS within the next few weeks to do so. However, I have never sold any coins before.  I have learned to negotiate when buying coins, which should give me a slight edge. Plus I'll have done my homework and received assistance from you all, so hopefully I'll come out on top! Alright, so I am going to be selling or trading the following coins:
- 6 rolls of Wheaties, with many dates from the teens, twenties, and thirties, although the majority are from the forties and fifties
- 1909 LWC: G-4
- 1918-D LWC: VF-20
- 1929-D LWC: VF-20
- 1937 LWC: MS-60
- 1941 LWC: MS-63
- 2 1/2 rolls of Jeffersons, ranging from 1939 until 1959
- 1 roll of MS Abraham Lincoln Presidential dollars
- Possibly a roll of mostly uncirculated 2009 Territories quarters
As you can tell, there's nothing spectacular about what I'm trying to get rid of. These coins just take up space and I could use the money to purchase other coins I need. I already know what I want for the rolls of Wheaties ($10 would be good). I also know what the retail value is of the 5 graded LWC's ($17.50 according to Coin Values). I'm not sure what percentage of the retail value I should shoot for however? I also do not know what I want for the other coins. What should I shoot for? What do you think I can reasonably get out of all of these coins? My plan is to first ask what the dealer would be willing to pay for the coins. Then with all your help in figuring out prices I'll counter with my offer and negotiate from there. What advice to you have for me in that regard? I will make sure I give the right impression (my "poker" face  ) when negotiating and tell him I've done all my homework. I know this is a lot of questions but I can really use all your help. Thank you!  P.S: I do not have an ebay account and do not want one, so please keep the discussion focused on selling or trading at a LCS, thank you! Edited by 1000_Rubles
07/16/2014 3:20 pm
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Pillar of the Community
Canada
1747 Posts |
Most people are saying that shops are buying Wheaties for 2-3 cents so your close on your rolls. Just remember that the store has high overhead costs, and looks to resell these for roughly double what he buys them for.
If you know what the actual current selling prices for your coins are, then cut in half, that's probably what they will come at. if you are lucky you may haggle up to about 60~65%
Have you tried Craigslist or selling/trading on here? I think you might get more return using these methods.
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Moderator
 United States
56855 Posts |
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Valued Member
United States
337 Posts |
Stay away from ebay with any low value sales. Their fees, plus the thirty cents plus percentage of value for Paypal and shipping which the bidder will consider, will be a problem. I have no idea how a 99 cent sale with the base 30 cents of Paypal fees, and abut eleven or twelve cents of ebay fees, providing you list free can make money. So, a roll or a half roll of Jeffersons starting at $2 might not get bid higher if you charge the buyer a shipping fee. As for a LCS, they may be overstocked on Lincoln dollars and Jefferson nickels. I had one refuse to but uncirculated bicentennial coins a roll at a time. YCes, it was some years ago, bu they were haard to find when this happened. I was told to take them to the bank. |
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Valued Member
 United States
258 Posts |
Quote:
If you know what the actual current selling prices for your coins are, then cut in half, that's probably what they will come at. if you are lucky you may haggle up to about 60~65%
Quote:This link is really good for values as well as e-Bay sold values http://www.numismedia.com/fmv/fmv.shtml Thank you guys, that is very helpful for my graded coins! I will also be calling ahead to see if the dealer is purchasing what I am wanting to sell. Again please keep this discussion focused on selling or trading at a LCS, thank you! |
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Pillar of the Community
United States
589 Posts |
You are going to be very disappointed with the offers from your LCS.
Best bet would be to find others members to trade with, since you don't want to deal with E-bay.
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Moderator
United States
56855 Posts |
Have you considered joining a coin club near you and sell/trade there? John1 |
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Valued Member
United States
258 Posts |
Quote:
You are going to be very disappointed with the offers from your LCS. Yes I am in fact disappointed because I called ahead to see if my only LCS was purchasing what I was selling and the dealer told me he was buying Wheaties for 2 cents a piece but had no interest in rolls of older Jeffersons or uncirculated Presidential dollars. So I no longer will be going there to sell or trade what I have. Quote:
Have you considered joining a coin club near you and sell/trade there? I have considered that actually and may do so, although the meetings are a little ways away from where I live. Also like johntookit recommended I could trade with members on here, although I'd feel more comfortable doing so in person. I guess this leaves me back to square one. |
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Pillar of the Community
United States
7375 Posts |
If you have an ebay account, I still say that's your best option. Just list them at a price you can live with and go from there. Even if you don't sell them for a lot of $, which isn't going to happen anyway, you can certainly have lots of fun selling them. Maybe try an auction or two also. You can get a lot of FUN mileage selling a few inexpensive coins. |
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Bedrock of the Community
United States
20753 Posts |
Not sure if you have any coin shows in your area but look them up. If you can find coin shows, you should go to them. If you do find some, wander around asking dealers if they want to buy your coins. Or if there are repeat types of coin shows, you might want to ask dealers if they could sell your coins on consignment. Also, you could ask some of the customers if they are intersted. The great thing about a coin show is you have access to many dealers and possible customers.
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Valued Member
United States
258 Posts |
Quote:
Not sure if you have any coin shows in your area but look them up. If you can find coin shows, you should go to them. Yes there is a coin show coming up in the fall and I probably will try and sell them there if I don't do so beforehand. |
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Valued Member
United States
88 Posts |
I probably have 3,000 to 4,000 wheat pennies that I plan on going through at some point, as I never realized that some of them might be worth some serious money. I do not even count them as part of my collection! I am guessing I have enough to fill 60 or more bank rolls. From what I see on here, most of them are going to be disappointing, from the 40's and 50's, etc.. As a logical person, I added all of the mintages, and did some division calculations...It appears that there is about a .02 to .10 % chance that some of my wheats might be good, based on deeming about 1 in 5 coins from my sample being in "average or better condition".
With this calculation, perhaps 1 out of every 4 or 5 rolls should be a decent coin.
Have you thought about going through your rolls and pulling out the best coins? Based on the formula above, you probably have a couple good ones...
EndTheFed
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Pillar of the Community
Canada
2805 Posts |
Only 1 in 5 would be average?!
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Pillar of the Community
United States
898 Posts |
I would love to have 4000 wheats. Sorry to get off topic. Good lucky with the sales.
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Valued Member
United States
88 Posts |
The OP has Wheats for sale, so why not pick them up from him? He probably would let them go for marginally more than his coin ship is offering.... . In reality, Wheat penny lots on ebay, particularly from non-coin ebay sellers, are an UNDER-valued and cheap means to accrue old coin sheer volume. No other coins are this cheap, or ever will be.... So long as you are not expecting 30% 1909 coins, most lots should be fun to open. EndTheFed |
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Valued Member
United States
258 Posts |
Quote:
Have you thought about going through your rolls and pulling out the best coins? Based on the formula above, you probably have a couple good ones... You sure have a lot of Wheaties! Yes I have already pulled out the best coins, which includes 4 of the individual graded ones I listed in the topic thread as well as two others I used as upgrades for my personal Wheat collection. I am just going to wait until the next local coin show or coin club meeting before I try selling or trading my extra coins. |
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Replies: 15 / Views: 1,854 |
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Posted 07/16/2014 4:15 pm
