| Author |
Replies: 13 / Views: 1,336 |
|
|
Valued Member
United Kingdom
287 Posts |
I have a coin that is quite rare (not silver or gold) and wish to sell it. I will not use ebay as I am very wary of selling valued items on the website, too many dishonest people about and ebay does not care. Google gives a little help but not a lot. Similar coins sell for £700 plus but a 2020 USA auction had more than double that for what looks like a very similar condition coin. I realise that values may have risen or fallen since then but the USA auction market seems much larger than the UK one. I know that they all have www access and all claim a wide overseas sales base but has anyone actually tried selling by auction through a USA company and if so ? Many thanks Brian. Edited by JBL 06/05/2024 09:54 am
|
|
|
|
Pillar of the Community
United Kingdom
945 Posts |
I don't have direct experience of selling through a US based auction, so I can't give experienced advice.
It would seem to me that a lot depends on the coin. Is it a UK or US issue? Roughly how old is it? Has it been slabbed? (The US market is far keener on slabbed coins than the UK.) If you post it to the US, you may incur import duties even before it is sold, which may affect your calculation. Unless the US auction house has an affiliate in the UK? It does seem to me that the big US buyers (also Chinese and Russian) are sucking up anything decent in the UK auctions, so the price differential may not be as much as it was a few years back.
|
|
Valued Member
United Kingdom
312 Posts |
Hi Brian,
Heritage Auctions have a London based office, so maybe speak to them to possibly consign to one of their auctions. They are probably the largest with the biggest reach, but they do charge a fee for sellers of 15% I believe. You could probably drop it into their office instead of relying on the post.
As Paddy says, the Americans are well into graded coins so there would be no difficulty selling I'm sure.
What do you have to sell, as I collect high quality copper and bronze pre decimal, so could be interested.
|
|
Valued Member
 United Kingdom
287 Posts |
Thanks PaddyB and Kipster.
The coin is from the Middle East, not slabbed, lucky find.
Heritage auctions seem to have a good following and have a UK branch in London so I'll contact them and see what they say/do/advise etc.
Cheers Brian
Edited by JBL 06/05/2024 12:06 pm
|
|
Pillar of the Community
United Kingdom
1313 Posts |
Personally I would send it to one of the European auction houses, Kuenker possibly. Just curious to know what it is you found.
|
|
Pillar of the Community
Portugal
655 Posts |
Not being silver or gold makes it easier to send to the US. But I doubt if you can insure it.
I also noticed american auction houses opening new offices here in the continent.
|
|
Valued Member
 United Kingdom
287 Posts |
Thanks all. Heritage have a London office so they will be my first choice I think, saves a lot of hassle. I'll contact them next week and take it from there. I will satisfy your curiosity once it is all sorted and consigned, just didn't want to detail it here in case the mods thought I was trying a short cut or backdoor to find a buyer ! Cheers Brian.
|
|
Pillar of the Community
United Kingdom
694 Posts |
Personal experience. I would never buy anything from heritage ever again £70 shipping is a P-take . I would send it to Great Collections they send the coin for grading first before it enters the auction. They have huge discounted rates. Don't as me how but they are a massive business. They charge me £15 from the USA to post to me in the UK which is more than reasonable. I was thinking of even consigning my coins to them. Some of the prices realised are mind boggling. I normally get stampeded on by higher bids.
|
|
Bedrock of the Community
United States
94367 Posts |
GC is a fine company, but comparing them to Heritage is comparing apples to oranges.
|
|
Valued Member
 United Kingdom
287 Posts |
Thanks all. I stayed British ! Coin will be sold by Baldwins in their October auction. They offered exceptionally good service and terms of sale. It will be sent to USA for grading/slabbing (all at their expense) and then auctioned. Heritage did not want it, they eventually replied to tell me they only accept single coins over $5k I'll post again nearer the auction date. The coin is ... Iraq 20 fils 1252 (1933) #1633;#1634;#1637;#1634; - #1633;#1641;#1635;#1635; (Error date AH1252) Had a poor experience with ebay so decided to use a proper auction house this time. Cheers Brian.
|
|
Valued Member
United Kingdom
312 Posts |
Probably the right thing to do, Brian. Neil knows how many beans make five and Emma knows that area very well.
Good luck with the auction. I'm surprised Heritage took that view. I've won a coin from them before for $85!
EDIT: Just saw the single coin bit. Eyesight isn't what it used to be
Edited by Kipster 06/25/2024 5:17 pm
|
|
Pillar of the Community
United Kingdom
1313 Posts |
|
|
Valued Member
 United Kingdom
287 Posts |
Heritage told me they didn't accept consignments under $5K and as mine is just a single coin they are not interested. We will wait and see what happens, anything is a bonus  Cheers Brian.
|
|
Pillar of the Community
United Kingdom
725 Posts |
Heritage get high prices because of the slab market in the US. Some US buyers are highly conservative and won't buy from overseas or buy an unslabbed coin, so force themselves to buy from Heritage or Stacks. But for some types of coin that does not always (or even often) work. British coins get healthy enough prices through Noonans, Spink, Baldwins or even CNG (almost entirely unslabbed). Heritage overcharge for everything and you really have to be a dedicated slabber to buy from them - which means collectors of US coins who might (but probably don't) dabble in other things. An Iraqi coin is tricky since you don't know where the market is, but since it isn't in Iraq, it probably doesn't matter where you sell it. Those collectors are used to buying from anywhere. As you're in Britain, a British auction would be the safest option. The only US auctioneer who would know what to do with it is Stephen Album.
|
| |
Replies: 13 / Views: 1,336 |
|