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Replies: 23 / Views: 4,966 |
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New Member
Canada
6 Posts |
Hello, I am looking into selling my coin collection of mostly silver and gold sets.
I am in the Edmonton area and don't want to sell online or kijiji. Just want to sell as a lot. Just need some direction as to where to go to sell them? I have not tried the Edmonton stores but was wondering if there is a good reputable store in Vancouver, Toronto or anywhere else that typically pays better?
Thanks
Peter
Post edited my moderator as this appears to be selling on the forum. with out the coins listed as I have corrected it appears you are looking for information and staying within the rules
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Valued Member
Canada
457 Posts |
If you sell as a lot you will most likely get 1/3 to 1/2 of what they are worth. Try ebay selling each one individually, you will get the most for them but its a lot of work and it may take along time plus you may have a coin lost in the mail. Depends on whether you have more time .... or money!
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New Member
 Canada
6 Posts |
Thank You for the feedback. My worry from selling on ebay is the shipping and insurance part. If I use Canadapost, there is a maximum insurance of $1000 which may not cover some of the sets. Is this a risk I or the buyer have to take or insurance should always be optional? Peter
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Pillar of the Community
Canada
2366 Posts |
There is an extra limit on the Canadapost insurance of $500 for coins so don't pay for more insurance. You'll get more money selling the coins individually. As the seller, the risk is all yours. The buyer is fully covered by Paypal Buyer Protection. Paypal Seller Protection only applies if a) the buyer claims 'item not received' and not 'item not as described' or anything else; and b) if you have shipping proof of delivery in the form of a tracking #. It does NOT cover damage or loss during shipping which is why you also need to buy carrier insurance.
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Pillar of the Community
Canada
2366 Posts |
p.s. getting a payout for the insurance is also a cumbersome, time-consuming process so don't expect to get it before Paypal forces you to reimburse the buyer.
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Pillar of the Community
Canada
1747 Posts |
selling your coins is difficult unless you use an auction site like ebay. If you try and sell to a coin shop, they at best would offer you 50% of what the value is, unless the item is in demand. Remember that they have to sit on the coins and pay people to try to sell them, there is lots of overhead running a business. I would recommend putting ads on craigslist, remember to meet in a public place that you recommend (like Timmies) I have bought/sold tons of stuff off CL and have had no issues. You could search on Colonial acre coins website and see if they are looking for any of the items you are trying to sell, they may offer you more. (but you will have to ship them to Kitchener, ON at your cost) Lastly try and find a coin club and ask around there, you would probably get more.
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Pillar of the Community
Canada
3049 Posts |
The coin club is a good idea... finding some place that will sell on consignment isn't bad either...
If you want fast.. go to a dealer.. it's fast cash.. if you want full value... than e-bay is by far the largest market... after that a local coin club.. (they sometimes hold auctions) or kijiji
As far as shipping goes... if you're selling a $500 item... who cares if it cost $20 to ship! Just make sure that it will get there & you have proof that it was received!
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Valued Member
United States
234 Posts |
You could consider consigning them to someone to sell. Either someone who sells on ebay or one of the bigger auction houses. I agree with the others, though, that selling them to a coin shop as a lot will not maximize your profits.
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Pillar of the Community
Canada
2301 Posts |
Pacificoin, a member here is an outstanding individual and may be of great use to you, If Jack can not help, try Zonad, another member here. I do not recommend ebay if you do not really know what you are selling.
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Pillar of the Community
Canada
3049 Posts |
Guys first I want to say I am NOT a dealer.. but there's nothing wrong with going to one.. just understand that you're not getting full value.. but if someone just wants to get the cash fast... a dealer can be the BEST way to go.. you get cash fast no questions no problems... safe and fast!
When you're talking gold and silver pieces if you're aware of spot.. you will get at least that! It's a no brainer.
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Pillar of the Community
Canada
1984 Posts |
I am not sure what kind of gold coins you have. If they are coins that are, in essence, bullion type coins, you may find this web site from J and M in Vancouver helpful. It shows where they will buy and sell many of the more common coins. Their buy prices are pretty fair I think. Their site has a similar page for silver coins. http://www.bullioncoinsandbars.com/...ld-coins.htm
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Pillar of the Community
Canada
5417 Posts |
Robert at the Calgary Coin pays pretty good prices.
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Valued Member
Canada
62 Posts |
Maybe look for a coin show and set up a table. You should get somewhere between dealer and ebay prices. Just a thought
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Valued Member
Canada
118 Posts |
ebay is the best option in my mind if you have the time and energy. Lost coins are rare, in my experience, and you can screen buyers to limit the people who can bid to those with significant feedback (and before someone else says it, no it's not fool proof, and it was better 10 years ago with fewer scammers). That said, ebay deals are still pretty reliable, especially if you send with tracking. If a coin fails to sell, then you can roll it over and do it again at no added cost and with very little effort. If you are going through a dealer, I would talk with them first about what you have. After you speak with three of them, you will have an idea of what each has to offer, as well as whether or not there is much difference between what they will pay.
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New Member
 Canada
6 Posts |
Thank You everyone for the input and feedback, my collection consists of mostly RCM products over the last 15 years or so. I was hoping there would be a coin dealer that is more reasonable to take the collection at a fair price but then they have operating expenses...etc. I will try the ebay route as I am not comfortable selling and meeting people from Kijiji. Any advice regarding selling coins on ebay to US buyers? My expectation is to only sell to Canadian and US buyers. As long as I clearly state the shipping charges and the buyer is responsible for any tax/duty charges then I should be good to go? Thanks Peter
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Pillar of the Community
Canada
3049 Posts |
I think if you put this question or any others that you have in the ebay thread.... there will be a LOT of people that may be able to help you... there are a lot of eBayers that use that thread specifically
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Replies: 23 / Views: 4,966 |