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 Replies: 9 / Views: 1,796 |
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Valued Member
United States
175 Posts |
I was not sure where to post this, though I have some higher value coins that I am looking to sell locally. I have some questions. I know the NGC prices though do not know what a fair price is for a coin? Also, is selling a coin to a coin dealer like buying an oil change from a car dealer... Ripoff? I have 1893-S Morgan NGC F12($4400), 1878-CC Morgan NGC MS65($2100) and an 1878 Morgan MS63 DMPL VAM($1500). Again I know the NGC prices as I have listed them, though should a dealer buy at this price or grey sheet price, or even less than this amount. Any and all tips on selling higher end coins and what a fair price would be is much appreciated. Thank you in advance for you help in this matter  Edited by rum_n_cola
10/20/2015 12:39 am
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Bedrock of the Community
United States
12057 Posts |
Dealers cannot buy at retail price, because their living depends on selling coins to make a profit; this means that if you want to sell your collection, private individual / collector-investor is the way to go.
If you have a lot of coins like the ones you listed above, your best bet would be a reputable auction such as Heritage, Stacks, Legend, etc.
Demand for things like slabbed 1893-S Morgans is very steady and very constant and you should not have any trouble finding buyers. Look at past auction sales to see about what you can expect for your coins -- if the last 5 NGC F12 1893-S Morgans have sold for $4000 to $4500 at auction, then yours should sell fine at $4400, quite a bit more if it's got a CAC green bean, or has outstanding eye appeal for the grade. On the other hand, if someone just bought a really nice one at, say, Chicago Heritage for $3900, you might have to revise your estimate down a bit to get a buyer.
Selling them locally might be more of a challenge depending on how big the coin market is where you live, and if there are any local or regional coin clubs that you can join that will connect you with buyers. Some of the national series-specific clubs (SSDC/NSDR for Morgans, etc.) may have buy-sell forums, and NGC/PCGS both have forums and other options that allow you to mark coins in your inventory as "FOR SALE" and create listings.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
Canada
4944 Posts |
Try GreatCollections; Coins that realize over $1,000 have no sellers fees and their customer service can not be beat. For determining the value of your coins, you can check the GreatCollections auction archives as well as completed ebay auctions and Heritage archives. |
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Valued Member
United States
403 Posts |
GreatCollections is a great recommendation given your lack of expertise.
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Pillar of the Community
United States
5825 Posts |
In general dealers will pay about 10% LESS than the greysheet.
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Valued Member
 United States
175 Posts |
Thank you all for your replies. That helps to know that most pay 10% under grey-sheet. I do not have access to one, so do not know what my coins are valued at on grey-sheet. Perhaps I will take to a local coin dealer to see. I am in the Tampa area and the coin market appears to be good here. Anyone have experience in the Tampa area, and perhaps recommends a business that offers fair prices? I will look into Heritage or other auctions. To be clear, they charge a 10-20% premium that would be deducted from the hammer price?
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Bedrock of the Community
United States
17884 Posts |
Do you have to sell right away? Isn't the FUN show in the Tampa area this January? If so that gies you access to not just local dealers but larger dealers from all over the country, and the auction houses as well.
Edited by Conder101
10/20/2015 12:36 pm
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Pillar of the Community
United States
757 Posts |
First off are they NGC graded, or is that just the pricing you are going by?
The bluesheet (graded coins) price for NGC are
1893S F12 bluesheet doesn't go that low, Graysheet prices have the 1893S at $3,550.
1878CC MS65 $1400
1878 MS63 DMPL Depending on which one. 8TF $350, 7/8TF $455, 7TF $205, 7TF (rev 79) $480
I would guess a dealer would offer $4500 or less.
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Pillar of the Community
United States
1450 Posts |
I am in Tampa and I recommend Gilder Coin Shop. The owner is named John. He is honest guy, but as others have said he cannot buy at retail. Yes, the Fun Show is in Tampa in January and I intend to go. I might ask John just to appraise the coins for you and not tell him you intend to sell them. He has been a dealer for 30 years plus and has a shop on Armenia just north of Hillsborough Ave. His shop has been there forever. He does not need to cheat you to make a living. I was just there today at his shop and bought some coins. I had a couple of coins to trade-in and he also gives cash discounts etc. There is also a place in Largo I think called the Silver Queen. They appraise and sell mostly silver, but you could get an estimate from them. There is the Village Coin Shop on Fletcher Ave. I have had dealings with them. You could see what they would offer. You know what the retail prices are so nobody can fool you. If you don't like the offer just walk.
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Valued Member
United States
175 Posts |
Thank you for the suggestion. I will wait for the FUN show as it is not urgent for me to sell now.
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Replies: 9 / Views: 1,796 |
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Posted 10/20/2015 01:57 am
