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 Replies: 33 / Views: 5,162 |
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New Member
Canada
5 Posts |
Hi All, I'm not much of a coin collector but recently inherited a set of $5 and $10 Gold Coins (grading info below). I've reached out to a local place who offered me $355 and $755 CDN per coin for the $5 and $10 coins respectively. Having read what these coins are going for in auctions recently I'm not really sure where to turn in order to not get hosed in a sale. Is anyone able to help provide some information on what these coins are truly worth in sale, and the best way to go about getting quotes and selling? 1912 PCGS MS63 $5 Gold 1913 PCGS MS63 $5 Gold 1914 PCGS MS63+ $5 Gold 1912 PCGS MS63 $10 Gold 1913 Premium Hand-Selected $10 Gold 1914 Premium Hand-Selected $10 Gold Images available if needed... |
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Pillar of the Community
United States
2023 Posts |
Looking at ebay "sold listings" shows prices pretty much in line with those offers, maybe a little higher. |
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New Member
 Canada
5 Posts |
Thanks for the quick reply, Alpha. I did check through ebay prior to reaching out to a local dealer for a quote. What I'm seeing on ebay is lower grades selling for a few hundred dollars less per coin. I understand the dealer has to make their money too and will purchase at a lower value. Is there any added value for selling the full sets, or both sets together? Or is their truly more value in selling the coins for individual prices? |
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Pillar of the Community
Canada
2984 Posts |
Way too low if the coins are from from the Gold Hoard, the dealer is ripping you off by offering you bullion prices. The original prices of the Gold Hoard coins are $500 each for the hand selected $5 dollar ones and $1000 for the $10. The original price of the Premium Hand Selected $10 coin is $1750! To offer $755 for the Premium Hand selected gold is ridiculous. You could at least get double the price for that one. There was a $10 gold MS63 that sold for $1141 just a few days ago. After fees that is around $1000, still better than the $755 the dealer is offering you. The $755 is the melt value of the gold in the coin. You could try to sell them yourself on ebay or try one of the auction houses in Canada. Companies like the Canadian Numismatic Company, Greg Bell Auctions, and Colonial Acres are good. It will be more valuable if sold individually. Some people only need one or two to complete their sets. Edited by MoneyPenney
08/15/2017 3:32 pm
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Rest in Peace
United States
17900 Posts |
If I had those to sell I'd contact Great Collections. They could offer them in their auctions as they sell mid level grade Indians for very good prices.
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Pillar of the Community
Canada
1984 Posts |
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New Member
Canada
5 Posts |
Thanks for the replies. MoneyPenny, I had seen similar prices looking at previous sales myself and did feel liek this place was trying to pull a quick one.
I've reached out to Great Collections to get some information and will look into Canadian Numismatic Company, Greg Bell Auctions, and Colonial Acres as well.
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Valued Member
Canada
89 Posts |
Something does seem a bit fishy about the dealer's offer. The offer (assuming it is in Canadian dollars) is slightly below melt value of the coins you have...sounds like a rip-off to me. Since the BOC sale occurred the market was flooded with these coins and prices are down because of that. This doesn't mean it gives a license to dealers to low-ball people.
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Pillar of the Community
Canada
1984 Posts |
I would not be so hard on the dealer. Maybe his plan was to sell it on ebay or at an auction. This would cost him 10% or more plus possibly insurance or shipping. Or maybe otherwise it would sit on his shelf for a year tying up his capital. I am not a dealer, but dealers aren't charities. Most other retailers out there are marking things up by far more than the 30% or so that this fellow seemed to be looking for and people generally don't complain about them..... If you are willing to do the work to sell it your self, then go for it. But if not, don't expect someone else to take all the trouble and risks for you for nothing. |
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Pillar of the Community
Canada
2984 Posts |
The Canadian Numismatic Company hosted the RCNA auction July 20-21. Some of the gold coins sold for high prices. A 1913 $5 MS63 coin went for $1652 including buyers fee. A 1914 $5 MS63 went for $1888. A 1913 $10 MS64 went for $3599. I think a premium hand selected $10 would be graded at least MS64. https://auctions.canadiancoinsandpa...rcna-auctionSession 3 - Lot# 1056 Edited by MoneyPenney
08/15/2017 5:15 pm
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Pillar of the Community
Canada
867 Posts |
That's a cool bequest. I wouldn't be in any hurry to sell unless you really need the money for other things.
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Valued Member
Canada
395 Posts |
Yeah I definitely wouldn't be too hard on the dealer generally because they have to make money and there is big risk involved with not a ton of potential profit. Premium had selected from what I've seen are minimum MS63 but not necessarily higher really. All that being said I'd still expect like 18-20% more then what he offered even if you wanted to go for an easier quick sale. You can always try the buy sell we have here as well, but you'd have to turn on receive emails and get I think 50 posts for that.
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Pillar of the Community
Canada
1571 Posts |
Melt value for any ms quality coins is a great deal... for the buyer. Although the market changed after the Bank of Canada hoard, these coins are still highly collectible and should fetch a nice premium.
Take your time in selling them until you get a decent price. Post pictures of them on the grading section of this site and you will likely get a better idea of value and more than likely offers to buy your coins.
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Pillar of the Community
Canada
1461 Posts |
Personally I think these coins are overpriced. There are thousands in TPG holders and there is no way the aging market can sustain this many coins over time. Especially below MS64. There are a combined raw/graded of 100+- available on ebay at any given time. Melt for the $10 coin today $616.00 % of bullion. Below are some recent sales numbers. 1914 $10 PCGS MS63 $739 (Hoard) 1914 $10 PCGS MS63+ $899 (Hoard) 1914 $10 PCGS MS63+ $849 (Hoard) 1914 $5 RCM $599 ( RCM Holder, Gold Reserve) 1912 $10 PCGS MS62 $760 (Hoard) 1913 $10 PCGS MS63+ $325 (Hoard) Someone got a great deal on that. 1914 $10 PCGS MS63 $790 (Hoard) 1914 $10 PCGS MS63 $780 (Hoard) 1914 $5 PCGS MS62 $995 (Original) 1912 $10 PCGS MS62 $695 (Original) 1912 $10 PCGS MS62 $836 (Hoard) 1912 $5 NGC MS61 $365 (Original) 1913 $5 NGC MS61 $529 (Original, old holder) 1912 $5 NGC MS61 $495 (Original) |
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Pillar of the Community
Canada
1461 Posts |
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Pillar of the Community
Canada
867 Posts |
^^^^^^ Wow! that must mean mine are 'worth'' that much.....whoohoo.....
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Replies: 33 / Views: 5,162 |
Posted 08/15/2017 3:00 pm
