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 Replies: 10 / Views: 1,800 |
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Valued Member
United States
314 Posts |
Is there a typical "discount" that a coin dealer should provide on an 'offer' for a coin based on it's value? For example, if I BOUGHT a coin from a dealer for $10, if I turned around and wanted to SELL it back to that same dealer (or another dealer for that matter), what would be the typical "discount" that I would expect to receive on their offer? This is what is typically called the "bid/ask" spread... For items such as spot price of metals, or even the stock market, the "bid/ask" spreads are very well known and public and often a very small percentage. But I have found that the values in both the RedBook and the bluebook are not really accurate, especially when I compare to "sale prices" on ebay. I know that coin dealers make a good amount of their profit by buying coins for less then they sell them for (e.g.: the "spread"), but what should I consider a "reasonable spread" when selling coins? Do they typically work off of the "Greysheets" (or some percent discount off of the Greysheets" ? Just looking for some good guidelines to work from when I have some extra coins in my collection I want to sell back to dealers.. Yes, I can try to list them on ebay, but that may be more work then it is worth it for some of my coins, so would be happy to sell to a dealer at a coin show or my LCS if I can be sure I am getting a "reasonable price".. Thanks. Michael |
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Rest in Peace
United States
17900 Posts |
As you mention, the lesser valued coins are a hassle to deal with for you, or any dealer.
The type of coin, grade, and value determine the likely offer you might receive. There is no set percentage.
The higher value and better pieces will gain much more attention and value than common coins.
Most dealers would much rather buy a retail $200 coin, rather than 20 $10 coins. So the percentage will be considerably different.
If a dealer has had five of something and hasn't sold one, even at significant discounts, and you walk in with a sixth one, you won't get much of an offer at all.
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Bedrock of the Community
13014 Posts |
There is no set price. The price will depend on a lot of things some of which have nothing to do with the actual market.
Generally you get better offers on better material, better offers on things they know they could sell quickly, better offers on inventory they really want ect. Excluding the scummy dealers ripping people off some will decline to offer on things they just don't want to deal with.
Relationship with the dealer will also come into play. Are you a long time customer if yes then generally better offers than someone who they have no idea who it is. If there is an existing relationship how good of one it is will play a big role. If someone is the type of buyer that nickel and dimes the dealer on everything they buy than they will likely get that same treatment when selling back to them. Dealers will be willing to take lower profits on items from good customers knowing the customer will make them more money than the single coin would have anyway.
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Bedrock of the Community
United States
94367 Posts |
The greater the scarcity (some would say demand), the lower the spread.
Edited by Coinfrog
10/23/2017 4:45 pm
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Valued Member
 United States
314 Posts |
thanks all.. and much of what I have are various "extras" of stuff that wasn't really that valuable in the first place.. typically coins that I purchased for between $1 to $20, so you are correct, most dealers aren't too interested and I have seen generally offers that are deep discounts off of what I "purchased" for... I may try selling some of them on ebay, but honestly not sure if it is worth the "hassle factor" to maybe make a few dollars more... just the work of photographing, listing, and then packaging and mailing probably isn't worth it for a casual hobbyist like me... Anyone ever try to ever bundle a bunch of different coins together in a big "lot" and list that way on ebay? Just curious if that ever works? Maybe find someone out there where I have enough of what they want that they offer me a bid on the whole thing.. just an idea... Michael |
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Bedrock of the Community
13014 Posts |
Quote:Anyone ever try to ever bundle a bunch of different coins together in a big "lot" and list that way on ebay? Yes but there generally has to be some connection. Like all ultra modern still in mint cello type thing. One or two completely random throw ins is alright but if its all over the map set a price and hope someone is curious and factor in the savings on shipping them individually as a win |
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Valued Member
United States
314 Posts |
would probably be all coins of similar type and denomination... for example, would be a bunch of various " Roosevelt dime proofs" or a bunch of " Presidential dollars in mint cellos".. as examples... that way, would at least be a common theme to them but reduce time/effort to list individually... would be only for "entire lot" and not individual coins... Michael |
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Bedrock of the Community
13014 Posts |
Quote:would probably be all coins of similar type and denomination... for example, would be a bunch of various " Roosevelt dime proofs" or a bunch of " Presidential dollars in mint cellos".. as examples... that way, would at least be a common theme to them but reduce time/effort to list individually... would be only for "entire lot" and not individual coins... Michael Nothing wrong with that method, people do do that. Premiums they get are a little lower but a lot of things like that are better in lots |
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Rest in Peace
10197 Posts |
I've tried a miscellaneous lot of Proof coins, different denominations/dates on ebay with no luck, single coins aren't an easy way either. It's great for the new seller to build up benny points and a following, but most doing this are in it for the long haul sales, not a side-line job. |
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Rest in Peace
United States
17900 Posts |
pour them out on the table, take a few photos, give an inventory of content, and post them here. No fees!
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Moderator
 United States
54280 Posts |
Quote:
pour them out on the table, take a few photos, give an inventory of content, and post them here. No fees! Newer members aren't allowed to do that. http://goccf.com/t/221419Edited by nss-52
10/24/2017 08:34 am
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Replies: 10 / Views: 1,800 |
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Posted 10/23/2017 1:54 pm
