My Friend Died And His Valuable Coin Collection Was....

It's unfortunate, but I think that happens most of the time... The spouse/family either doesn't know the true value of the coins, or is selling fast, just wanting to get rid of the collection to settle the estate...

50% of retail---catalog----is doing good. Look at eBay---most prices are 50-60% of catalog.

It is the duty of the collector to not put his family in the situation where they end up dumping stuff for less than fair market wholesale value.

----Slab your "good stuff" so there is no question regarding authenticity

----Always have an accurate inventory of what you have along with what you paid for it.

----if you find out your ticket has been punched sell the stuff yourself, if possible, before you "take the trip".

----Do not trust your local dealer to be fair with your family when it comes time for them to sell. I don't care how long you've known him. The dealer is in business to make money. The relationship you had with him when you were alive is out the window.

I keep an up to date Excel file on all coins purchased with pic and cost, mintage, face value and approximate value, grams of silver/gold, errors noted, Low COA if there is one, and each purchase a new page is printed off for the book. Even the $2 5 Pack, I note it. Shipping is included in the cost as well as taxes. Original invoices are all attached and filed according to purchase date, whether Canada Post, LCS, RCM or other. I try to inform my spouse of all purchases and whether there was a discount. I'm sure it's all a blur but at least she will have a compendium of facts to take to an estate auction, e-bay or other on-line seller, or LCS. Make it easy for yourself and your family to get the most for your time and money spent.

Totally agree with SPP. Fifty per cent is not terrible .

With proper arrangements before hand it does not have to happen at all. When we offer on an estate or collection of importance, we put our offer in writing and DO charge an appraisal fee (which is Refunded if the coins are sold to us). Then we encourage the person in charge of the estate to get a second and third if necessary opinion. There is NO sympathy from this corner for people who DO not look after there estates and wishes BEFORE they pass on. We all have ample time as we acquire wealth and tangible assets to create a will that shows our wishes.
It should come as no surprise that a lot of collectors and investors are rather secretive and eccentric, think they are never going to die, and leave a disaster behind for others to clean up. Again no sympathy here, look after your estate while you are happy and healthy. Your heirs will be grateful.

Yes 50% of retail is quite typical. I've seen some really low ball offers from store owners who are not interested in dealing with large collections and have no interest in spending any time on it.

Neglected to comment on the first part, which is also excellent.

With option 1, not only will it take a long time, but you have to factor in table fees at a show or flea market, meals, time, gas money, etc. While it may net you more overall when everything is said and done, is it worth the effort? The answer is different for each person of course.

With option 2, it's one and done. You get the collection liquidated, have cash to spend to reduce credit card debt or invest elsewhere and free up valuable time and space in the home. Although it's a big haircut, some people's time is better spent doing something else. I've done this before with non-coin related items I was selling on ebay. I made my money back on the initial bulk purchase, and realized how much work/time it would take to do the rest. I gave the remaining inventory to a friend who was struggling for money and let him sell it. His situation eventually became better, and the remaining 80% was donated to Goodwill.