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 Replies: 13 / Views: 1,434 |
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Pillar of the Community
 United States
900 Posts |
So I'm going through some bulk silver to find coins that might command a decent premium over spot value. I find two rolls (about 90 coins) of uncirculated 1937 French Indo-China 20 cent pieces whose melt is $1.73, but seem to be selling between $8-$15 on ebay for similar specimens. Then I look a bit closer ...   ... that's right, every one of them, cleaned and drilled!  The wind promptly leaves my sails. So my question is, does anybody know a market for coins that have been drilled for jewelry? |
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Pillar of the Community
United States
5825 Posts |
I believe that you are talking at most bullion value at this point.
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Moderator
 United States
188415 Posts |
Quote:that's right, every one of them, cleaned and drilled! The wind promptly leaves my sails.  |
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Bedrock of the Community
Australia
21786 Posts |
These coins can come non damaged in quite high grades. The price asked for the drilled coins is (in my opinion) way too high. That is the price for NON holed examples.  It is a crying shame that they are in otherwise close to pristine condition. ' ' ' ' ' ' |
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Pillar of the Community
United States
7940 Posts |
One of these (with hole) has sold recently on ebay for $10. You can sell a few, but selling 90 might take a lifetime. (None with holes are currently for sale, which helps you). If these were mine, I would put one out on ebay for $4.95 plus $0.59 shipping. That covers the cost of a first class letter, which is how you will send it. Your net revenue is $4 after ebay and paypal fees. If you paid at or below melt, you come out OK. But you won't get rich. You can put in the listing that you have 10 to sell, but be careful how you figure the postage. If it sells, put the next one out at $5.95. If it doesn't, you've learned a good lesson! Edited by tdziemia
12/23/2018 3:22 pm
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Pillar of the Community
 United States
900 Posts |
@tdziema
Thank you for taking the time to answer my questions. Its interesting that you suggest shipment via first class letter. Others have recommended that I always ship with tracking, at least while I'm a new seller with little feedback.
I hadn't thought of that technique of sorting by sale price to interpolate the sale price on Best Offer. Very clever!
I'm thinking of listing the coins a couple of ways. One as a jewelry pendant, which a couple of US circulated drilled coins have sold as recently.
Its interesting to try and figure out how to package/group items to appeal to buyers and also lower the relative shipping cost. I have a bunch of mint sets from 57 to 64 that I'm getting ready to list. Unfortunately I can't string together a whole series because 58-60 are missing. I may put out a few groups of 57,61-64, and then list the others separately.
I was just chuckling to myself, because a couple of the mint sets are in the original envelopes unopened. I thought to myself, "how would this go down if a seller claimed it was not the correct item?" Its not like I could argue, because I wouldn't have seen whats in the envelope. Kind of humorous when you think about it.
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Pillar of the Community
United States
900 Posts |
And I meant to mention, I bought these for spot about a decade ago, so its not like I'm losing anything (except that spot was higher then). It just would have been a nice bonus without the holes.
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Bedrock of the Community
Australia
21786 Posts |
Looks like the best thing to do is have a dabble into the jewelry trade.
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Pillar of the Community
United States
7940 Posts |
Quote:
Looks like the best thing to do is have a dabble into the jewelry trade.  The idea of listing in both coins and jewelry is smart. I've sold quite a few Lebanon 1 piastre coins, which have a hole in the center, and figured they might be headed toward jewelry. @jadey, on the shipping ... I've been shipping low value items in first class envelopes for so long that I forgot that as a starter your seller rating is very sensitive to unresolved buyer issues. When you ship in a first class envelope, instead of with tracking, you need to be prepared to immediately eat any customer claim that the item was not received. It does happen ... I figure I lose about 1% of my sales that way. Still, I think if you immediately issue a refund for any buyer issue, your rating is not affected. But you should check. Edited by tdziemia
12/23/2018 7:37 pm
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Formerly nancyc
Australia
5385 Posts |
Maybe you could ask nohope587 from this forum if he'd be interested in buying any. He's a well known 'cutter' of coins.
life is a mystery to be lived not a problem to be solved
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Bedrock of the Community
United States
20753 Posts |
Things like that always irritate me. However, I guess the people that do that could care less about coins. They will make their money on jewelry If those were mine, I'd just sell off the entire amount and be done with them.
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Pillar of the Community
United States
900 Posts |
I guess it is not that uncommon for these coins. Another metal detecting batch of 35 just sold last month for $75. (Expired, so you need to scroll past the adds to see it). As a detectorist, that would be a pretty fun find, but I find the claim a bit difficult to swallow. It has a nice design and is very thin, so maybe its just a good candidate for jewelry. |
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Pillar of the Community
United States
900 Posts |
Quote:
Things like that always irritate me. How do you think I feel? I've looked at these rolls several times over the last decade, and never noticed a hole. So, the only logical explanation is that someone broke into my home, opened my safe, and drilled holes in these coins just to tick me off. And it worked.  |
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Pillar of the Community
United States
900 Posts |
My wife had some supplies and a couple of interesting ideas, so it seems I am now dabbling in the jewelry business. |
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Replies: 13 / Views: 1,434 |
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Posted 12/22/2018 10:30 pm
