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 Replies: 12 / Views: 1,774 |
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New Member
United States
20 Posts |
I was recently asked this question by a third party to an extensive collection which includes many of the earliest US coins, colonials, and rare silver 1800s. My suggestion was to have them graded by PCGS ( or other ) to determine authenticity, once that was done to then sell via one of the major auction houses. But I am wondering what others think of this suggestion, and if to use an auction house, which one(s)? |
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Bedrock of the Community
United States
94367 Posts |
The major auction houses will evaluate your collection and offer consultation without charge, even on raw coins. These would include Heritage, Stacks/Bowers and Superior galleries. Many top-tier retail firms will do the same.
Proceed slowly. Take sample pictures, establish a simple contact at several firms, send pics and wait for them to give you advice to consider.
If this seems big, get a lawyer involved.
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Pillar of the Community
United States
1158 Posts |
I would probably want to get a few books and learn basic grading so I can at least determine basic ballpark values of the collection.
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Pillar of the Community
United States
7390 Posts |
Have him contact Heritage first. They will have them graded
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Bedrock of the Community
United States
94367 Posts |
 Don't start sending stuff off willy-nilly to TPGs. Contact Heritage first. Edited by Coinfrog
08/01/2015 5:58 pm
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Rest in Peace
United States
17900 Posts |
I most heartily agree that you should contact Heritage before you proceed any further.
If they believe the collection warrants it, they will come to your home (or bank, or place of business, or wherever you choose) to do an in person evaluation.
You will pay for their expertise (if they auction or sell your coins), but unless you plan on spending many years gaining the knowledge you might need to make an evaluation, Heritage really is your best bet.
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Bedrock of the Community
Australia
21786 Posts |
In the first instance, consideration should be given to retain some coins to be family heirlooms. Get yourself a copy of relevent coin catalogs or look up the various coins that you need to, on internet data bases. Only slab those coins that could have a potential value of $100 or more; that should save significant slabbing costs. Serious consideration should be given to consign to public auction, of coins that have a potential value of of over $1000 each. You may wish to ebay coins or groups of coins that have a potential value of perhaps $100 or less. This process is likely to take up a significant amount of time effort and some worry. Lowest valued coins or groups of coins could be eBayed in larger lots, or sold to dealers. You may need to remind the executor of the estate on how the proceeds of sale are to be split up and to conform to the requirements of the family, or of a Will if there one involed; there may be more than one member of the family that could have an interest in the collection. |
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Moderator
 United States
56855 Posts |
Heritage first. Don't bother trying to find out the slabbed values on each coin Heritage will do that too.
John1
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Bedrock of the Community
United States
94367 Posts |
Absolutely. |
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New Member
 United States
20 Posts |
I will advise him on the heritage first option.many coins are in 5_6 figure range.
Thanks for your input all.
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Bedrock of the Community
United States
19945 Posts |
There's nothing wrong with Heritage but they will probably first want an inventory. They won't mess with anything "average" in the collection. I also guess they'll take 30% or so off the top when they sell.
Personally, if there are any really important/expensive coins in there, I'd take care of those privately. Probably easiest to find a trusted local dealer and talk with them about getting them slabbed.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
589 Posts |
Quote:
I will advise him on the heritage first option.many coins are in 5_6 figure range. Quote:
If they believe the collection warrants it, they will come to your home (or bank, or place of business, or wherever you choose) to do an in person evaluation.
I think it is either $25,000 or $50,000 Minimum for this service. If the collection exceeds $250,000 one can negotiate a discount on the auction fees. One of the CCF member who started with little to no knowledge of his inheritance, ended up doing quite well. https://goccf.com/t/195331https://goccf.com/t/203658 |
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Bedrock of the Community
United States
11951 Posts |
I think this situation could be different depending
on each coin.
Some coins might get you more money by selling directly
to a high end dealer. And some would do better selling
through Heritage.
If it was me. I would have at least the 10 best coins
sent into PCGS or NGC. Once you know the grades, you
can check out auction history and get a good idea
what they might sell for. Then you can figure out
what the cost might be for selling the coins at auction.
Sometimes Auction fees can eat enough of the price,
that selling to the right dealer might be just as
good as selling at auction.
For many coins under 10K, high end dealers will just
write you a check. I know some dealers that have no
problem buying 500K collections.
I am not talking about small dealers, their business
model will not let them compete very well with higher end
coins.
All I am saying is .. figure out what your best coins are
and shop them around. Don't be in a hurry, you will get
more for your coins by selling each coin, not as a group.
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Replies: 12 / Views: 1,774 |
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Posted 08/01/2015 5:47 pm
