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 Replies: 9 / Views: 1,472 |
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Pillar of the Community
United States
558 Posts |
I am unsure on the best course of action I should take to sell one of my gems ( Lincoln Cent varieties, some rare/htf). And even perhaps 1-2 of my semi htf/semi rare variety cents. My initial thought was to first send my coins to PCGS, anacs, etc...to have them authenticated. Then to take them to my local coin dealer to see if he'd be interested in purchasing one or more. If not contacting Heritage to auction whichever coins they chose. Experienced & expert opinions on what you would do in my case and/or please share in general advice. PS: Selling bc of a serious unexpected health/medical issue that needs to be addressed ASAP (if possible), in case any one of you were wondering why. *** Moved by Staff to a more appropriate forum. *** |
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Moderator
 United States
14463 Posts |
A coin dealer has to make money, so they will try to buy them for less than retail. ebay or another auction site would probably be your best shot. Getting them graded takes time and funds, and making those funds back in a selling price would be difficult. |
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Pillar of the Community
 United States
4591 Posts |
If these are really rare varieties, then you may do better contacting one of the cent specialists vs. the LCS (Charmy - The Penny Lady and Rick Snow pop to mind). Given their broader access to the market, you may do better (vs. the LCS wholesaling them to a larger dealer).
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
4963 Posts |
Would you mind telling us what you plan on selling?
Good luck with your health, and I hope you get better soon.
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Rest in Peace
United States
17900 Posts |
Hopefully everything works out in your favor with your health. It is difficult to offer wise advise when we don't know which coins in what potential grades you are considering selling. Pictures would help us most in offering you our best opinions. What you have to sell would affect any advice significantly. If you have key dates - 1909-S, 1909-S VDB, 1914-D, 1922 plain in mint state or high mint state with red or red brown those must be encapsulated prior to selling as (almost) no one is going to pay top prices for those coins without the insurance of their certification. Figure a month turn around before you have them back in your hands. Those are instant sellers on ebay and you would gain the largest percentage of the sales price as opposed to a large auction house such as Heritage. For our best and most specific advise post the pictures of what you are considering selling and we can help you establish a likely grade, probable sales range, and suggested venue. Plus, we are a lot faster at giving our opinions.o |
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Moderator
United States
56855 Posts |
 John1  |
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Pillar of the Community
United States
4809 Posts |
Good advice above. Also, aside from the LCS paying well below retail most won't know what you are showing them unless the variety is well known. Even if it is slabbed shop owners may shy away from lesser known varieties because of a very small market of potential buyers.
Good luck with the health issue. Health is wealth and worth the price of coins you can re acquire at some future point in time.
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Rest in Peace
United States
18456 Posts |
All great advise so far .but the most important thing as mentioned; DO NOT sell to a LCS ,even if they know you as a steady customer . Yes getting it graded by TPG would be beneficial if you had the time, 2-4 weeks average. hope everything turns out ok for you .  |
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Pillar of the Community
United States
4469 Posts |
Heritage is an excellent option on high end coins. They will make an offer to purchase your coins outright or provide a cash advance when selling on consisignment in a major auction.
If you are going the auction route, you also need to consider Great Collections. They do very well on coins under 5K, and you will save on selling fees.
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Pillar of the Community
United States
757 Posts |
From personal experience Heritage doesn't want to touch coins/currency unless you have a minimum of $5000.00 to consign. If you are a new consignor you will have to pay a pretty high sellers premium to boot. If you are a major consignor though they definitely take care of you.
As for getting them graded PCGS will not give you the variety attribution on small cents. You can submit them with ANACS, but new ANACS graded items are typically looked down upon in reseller circles. NGC will recognize the small cents, but it's regular grading fee + $15. Are the coins gonna be worth the $40-$50 with shipping for grading?
It really sounds like you are in a tough spot and I wish I could have written something more helpful.
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Replies: 9 / Views: 1,472 |
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Posted 01/25/2016 11:46 pm
