| Author |
 Replies: 8 / Views: 1,191 |
|
|
Valued Member
United States
338 Posts |
Hi, Newish member here, posted a few picts ect.. Question, when considering FMV and taking a coin into a dealer is there a rule of thumb that a novice can expect e.g Numismedia shows a FMV, what percentage of that number would a dealer typically offer assuming grade etc agreed upon as noted in Numismedia FMV?
Thanks in advance.
|
|
|
|
Pillar of the Community
Canada
5238 Posts |
As I understand it, it depends quite a bit on how quickly the dealer can move the coin after purchase. So that is why "hot" items like bullion gold and silver are purchased for 80-90% of the FMV which is just the bullion value.
Otherwise I think that average items would be bought for 50% of the FMV if you are lucky.
|
|
Pillar of the Community
United States
4691 Posts |
I tend to agree with oriole. Bullion is a commodity and liquid. I think collectible coins are generally going to get higher prices at auctions where both dealers and collectors can bid against each other and establish market value. Graded US pre-1933 gold is somewhere in the middle, but closer to bullion, especially the common dates.
Scarce paper money is almost impossible to get a fair price from a dealer. I offered a couple PMG graded notes ($500-$1500 each in value) to several well known dealers, and I get only 1 reply, and that was asking me to tell him what bids I received. Give me a break!
Edited by jimbucks
10/21/2018 7:53 pm
|
|
Pillar of the Community
Canada
5238 Posts |
@jimbucks is right, you can get immediate cash from dealers, but auctions will get you better prices if you can wait. You have to select the appropriate auction for your material-some are high end, others are low end.
|
|
Pillar of the Community
United States
4691 Posts |
With respect to selling at auctions, I've had good luck with greatcollections.com I have sold coins ranging in value from $100 to $10,000. Quick turn around with fast payment, and decent prices. In fact I have a few coins I am going to send them next week. I used to sell on ebay, but the fees these days just seem too high. |
|
Bedrock of the Community
13014 Posts |
Like mentioned bullion is really the only thing that has standard offers besides common date common grade morgans and generic grade/date double eagles.
Collector coins offers will be all over the place depending on how bad a dealer wants it and your relationship or lack of relationship with them. Different people could get different offers for the same coin from the same dealer
Whats the coin in question?
|
|
Valued Member
 United States
338 Posts |
Thanks for the responses.
Basically just asking in terms of going through a few coins aquired over the years (raw coins) and getting a fmv and knowing what to expect if I dropped by a dealer.
|
|
Pillar of the Community
United States
1211 Posts |
Absolutely not. ANY price guide is just that... A guide. It is just meant to give you a general idea of value. What a dealer will offer you is whatever he thinks the market will bear. That may be very different from what the price guide says.
|
|
CCF Advertiser
United States
1533 Posts |
Dealers will use the greysheet, but will generally offer 20-25% back of bid, so they can flip it to other dealers at 5-10% back.
The best deal you will ever get is from a dealer that actually has a retail customer for something, however you will not have any way of knowing that.
Edited by Andrew99
10/24/2018 12:51 pm
|
| |
Replies: 8 / Views: 1,191 |
|
Posted 10/21/2018 7:50 pm
