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 Replies: 14 / Views: 13,156 |
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Valued Member
United States
228 Posts |
I'm currently trying to figure out where to sell a number of coins in the $500-$2000 range, that were inherited from my father. Most folks on here seem to recommend Heritage, but when I look at the auction results listed on ngccoin for the coins I'm considering selling, the final sale prices don't look that good even when they include the 17.5% buyer's premium. As the seller, I wouldn't even come close to receiving those numbers, which don't even look too good to begin with. I've talked with someone at Heritage on the phone and felt OK about it, although I was a bit annoyed that they could not yet give me an exact number for the seller's fees/commission. Sometimes, the Stacks Bowers results seem OK, and some of the David Lawrence results look very high...maybe that is because DL doesn't charge any buyer's fees, but has higher seller's fees...I haven't really researched them yet. At the recommendation of people on the forum, I'm selling some coins through Great Collections, but they don't have as much experience with some of my rarer coins. Also, GC will only grade coins that I give them to sell. However, I'd really like to see how the coins grade before deciding which of my father's coins I want to keep and which I want to sell. Both Heritage and Stacks Bowers say that they can send my coins for grading and then I can decide which ones to have them sell. I do plan on keeping a number of the coins from my father's collection, but I really want to make sure I do the smartest thing for the ones I'll be selling. Any advice would be greatly appreciated! Thanks. |
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Moderator
 United States
23522 Posts |
I'm not sure a single answer is the solution for you, nor that there is only one "good" answer. The fact that one venue or another may have a larger audience doesn't necessarily matter because all you need is two spirited bidders and they may be the only two looking at your coin. Me, I narrow your options down to Great Collections and Heritage. Stacks is relatively new in the online auction arena, having basically bought into the market by acquiring Teletrade, which was losing market share when bought. Nothing is guaranteed for you. Wherever you consign, you're taking a risk. When I recommend Great Collections - where I'd be going if it were me - it's because of feedback I read here on the forum, not personal experience. DLRC has low load on the seller - less than Heritage - but possibly a smaller audience. Thinking over the course of typing this, I end up with the thought that they're all essentially a wash as regards the actual auctions. The risk balances, so the intangibles - fees, Reserve, TPG slabbing integration - should probably be your decision points. Not much help, am I?  |
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Pillar of the Community
United States
711 Posts |
Well if it is not helping that you want and lots of text to go with it, I am sadly your man.
I imagine every situation is unique so there is no answer.
From the original post though, you don't want to sell everything, you want to keep some parts of it.
That seemed key to me.
I also inferred that the coins are mainly raw and there is desire to have them graded first.
It also seemed like Heritage would get them graded for you (and that would be part of the fee that they couldn't be nailed down on because every account is unique) whereas GC would, but only if they are selling them. That service and flexibility is worth something in my book.
To me it comes down to that grading / flexibility. As is, I'd go with Heritage, but if you are comfortable getting them graded on your own, then maybe GC would work for you.
Me, I don't sell any of my coins, so why would you listen to any of my advice anyway.
As for actual help, the best I got is to ask for pics or possibly a list of the coins. The more info the merrier. Like poker, most business decisions are a game of partial information and some pics would be great here. Who here doesn't love seeing some pics.
Think about it this way too. These are your father's coins. Preparing a picture archive of them here on CCF seems to be an appropriate tribute to the man. His collection can live together forever then.
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Moderator
United States
23522 Posts |
Um, we've seen a dozen of his coins on the Forum already....
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Pillar of the Community
United States
711 Posts |
My bad. I don't have a good feel for the various users here yet. One thing I notice here is that with all users having coins as their avatar, and some having the same coin even, it is hard for me to keep track of who is who. I seem to notice the signatures of users more as a result.
Edit:
Browsing some of your father's coins now.
Further Edit:
Your photography skills improved quite a bit during this journey. Good work.
Edited by BuckeyeCoinGuy
02/03/2015 11:40 am
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Moderator
United States
23522 Posts |
You gotta be really fast around this place sometimes. Traffic appears everywhere, and not everybody has the time to read every thread like I do. Your observations are quite accurate, so you can see the complexity of the OP's situation. Inefficient disposition would cause significant failed realization. Yes, it's all essentially "potential" but by all means maximize it. |
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Pillar of the Community
United States
711 Posts |
To me this is really just a financial decision complicated by the need to see the grades on the coins first. Simplify the decision by removing this unknown.
Bite the bullet and get them graded yourself. Using Heritage to do this for you is not free. When the $ is the only goal, the only tasks are to minimize cost and get sufficient bidders for a market price. No need for you to pay Heritage to have PCGS grade them for you. Even if you are using Heritage to sell them, I imagine they will give you a better rate if they don't need to go through the grading process and mark up that cost with margin.
As long as the auction services can reach sufficient type of clients, and I'd go more with price range than actual coins but that is just gut instinct, go with the lowest fees. Control the costs you can. Job number one of any manager.
Break your fees down into fixed and variable. Then plot out your returns at a range of price points. Not all fees are the same.
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Valued Member
 United States
228 Posts |
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My bad. I don't have a good feel for the various users here yet. Don't you have to research all of my posts before posting a helpful response in one of my topics? ;) Thanks all for the feedback so far. My experience to this point has been more positive with GC and SB, just because of the personal attention and clarity of the correspondence. At the end of the day, I guess the important factor is really which is the best financial decision, but it is nice to be treated well even when I don't have coins with astronomical values to sell. Quote:
Bite the bullet and get them graded yourself. GC has been great, but yes, I do have the complication of wanting to grade the coins before making the final decision about what to sell. I was planning to have the coins graded myself but then some research and discussions convinced me that I might have more success with the grading process if I send the coins through an auction house than if I submit them myself...maybe this is just a myth but it does (unfortunately) make some sense. With HA and SB, I would also be able to hand deliver the coins to their offices...so I wouldn't have to worry about shipping the coins to a TPG myself. Quote:
Me, I narrow your options down to Great Collections and Heritage. Perhaps the safest bet overall would be HA, and that seems to be the general consensus. But the mysterious and likely higher fees, and the thought that my coins might receive less personal attention, has me considering going elsewhere. Tough decision, but I hope that the fact that I'm taking the time and trying to make an informed decision would make my father happy! Edited by Phaedrus29
02/03/2015 1:03 pm
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Moderator
United States
23522 Posts |
I guess with GC it would boil down to the actual size of the business you intend to do with them. If you're going to consign 20 out of 25 and offer to pay the extra cost of the 5, they'll probably work with you. If you want to slab 50 and sell only 25, we might best try to make those choices before slabbing, as best we can.
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Valued Member
204 Posts |
Op---how many coins do you have in total? All are in the $500-$2000 range?
Considered sell them yourself or even putting them on consignment?
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Moderator
United States
23522 Posts |
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Considered sell them yourself or even putting them on consignment? Um, that's what we're discussing here. |
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Valued Member
United States
228 Posts |
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Um, that's what we're discussing here. Thanks for responding to that one...I wasn't exactly sure how to respond to that somewhat fishy post. I was inclined to say "I will sent them to you...what is address?" But I thought that might be a bit rude. ;) |
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Pillar of the Community
United States
589 Posts |
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when I look at the auction results listed on ngccoin for the coins I'm considering selling, the final sale prices don't look that good even when they include the 17.5% buyer's premium. As the seller, I wouldn't even come close to receiving those numbers, which don't even look too good to begin with. Can you give me a few examples-what it sold for and what you think it is worth. |
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Valued Member
United States
228 Posts |
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Can you give me a few examples-what it sold for and what you think it is worth. Here's just one example...I will try to look some more up. I was looking at 1851-C $1 Gold coins in AU 58. Numismedia lists the value at 2630 (ngccoin says 2850). Looking at the recent auction results, HA has sold them for $2232, $1968, $2115, etc., which include the 17.5% buyer's premium. The two most recent sales listed on ngccoin from DL (from 2014 and 2013) are $2550 and $2800, with no buyer's premium included (but they take more from the seller). The numbers from HA just didn't look that good...obviously not a very large sample size of different coins. |
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Pillar of the Community
United States
589 Posts |
You have done an extensive research in such an short amount of time.  The gold coin market is down, but I don't see a drop in the Branch Mint. I looked up different auction sites and HA.com is closest to what true market value is currently. I have never sold a coin at any auction house, so this is just my opinion. EBay- only if I'm selling coins that are low in value. DLRC- Don't know anything about them other than they have a large shop on ebay. Stack's-Their weekly auctions are terrible and their large auctions are very time consuming. Great Collection-Have not bought from them, but I do check their site more often now than in the past. HA.com-90% of my coins are bought from them. Best price and widest selection. 1851-c AU-58 is priced around $2100 to $2400. Net $1700-$2000. Low MS $2800 to $3800. Your coin was graded in the late 80's and I would do one of two things. Send it to CAC or get it regraded and go for the MS money. Good Luck! |
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Replies: 14 / Views: 13,156 |
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Posted 02/03/2015 11:05 am
