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What's The Best Way To Sell These Coins?

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Pillar of the Community

United States
573 Posts
 Posted 10/16/2010  8:27 pm Show Profile   Bookmark this topic Add StJoeBlues to your friends list Get a Link to this Message Number of Subscribers
A friend of mine from church has asked me to help out her grandmother. Her grandpa collected coins for years but he passed away a number of years ago. Grandma is getting to the point where she needs to sell the coins because she needs the money. Unfortunately they've already taken a bunch of silver to the local WE BUY GOLD/SILVER shop. They now know they got ripped off and have asked me to look at what's left to help maximize the cash for g'ma.

So here's my question - what's the best way to sell the following sets?

Lincolns - are complete except for the 09VDB, 09S VDB and 1909P, 22 no D and 55 doubled die. Otherwise it's a complete set through 1981, including proofs, then through 1988 with a couple of holes.

Roosevelts - complete set through 1983 including proofs. Also a few business strikes through 1988

Mercury dimes - complete set except for 16D and 42/41 (he has an unfilled hole for this one).

Jeffersons - complete through 1983, including proofs. Also all business strikes through 1988.

I would think it best to sell the Roosevelts, Jeffersons and probably the Mercuries as a set. But do you think g'ma would profit better by pulling the key/semi-key dates from the Lincolns and selling them separately?
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okiepb's Avatar
United States
1213 Posts
 Posted 10/16/2010  10:50 pm  Show Profile   Bookmark this reply Add okiepb to your friends list Get a Link to this Reply
You should put some pictures up on the boards here.
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cwb1877's Avatar
United States
1659 Posts
 Posted 10/17/2010  12:52 am  Show Profile   Bookmark this reply Add cwb1877 to your friends list Get a Link to this Reply
I think a lot will depend on what grades these coins are in and how much work the grandmother (or you) is willing to put into it. Are they low grade circulated sets put together from pocket change, or are they high grade AU/UNC sets?

The Lincolns will almost certainly do better if sold piece by piece rather than as a set. If it is a low grade circulated set, I would at least sell the early teens D and S mints, the 14-D, 22-D, 24-D, 26-S, and the 31-S by themselves. She could then sell the rest of the common stuff together. If this is a high grade AU/UNC set, then some closer attention to each individual piece would definitely be warranted.

If you are talking about a bunch of high-end MS stuff, it may be worth sending a bunch of them off to be certified. (This goes for all the coins, not just the Lincolns)
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nlp coins's Avatar
United States
2373 Posts
 Posted 10/17/2010  09:34 am  Show Profile   Bookmark this reply Add nlp coins to your friends list Get a Link to this Reply
with cwb. Good advice. nlp
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Libertad's Avatar
Canada
3692 Posts
 Posted 10/17/2010  10:27 am  Show Profile   Bookmark this reply Add Libertad to your friends list Get a Link to this Reply
Seeing that they need the money, I doubt she would get them certified. If they are indeed high-grade, auction them off as one entire lot.

You have 4 groups: pull out the proofs of each group and sell them (3 lots), and then the 4 groups (minus the proofs). So you have 7 lots. Sell them at the auction right next to each other so that the same buyer pool are tempted to bid on everything just to have a complete set. That's my amateur opinion.

Good luck!
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vermontensium's Avatar
United States
16679 Posts
 Posted 10/17/2010  11:05 am  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
I also agree with cwb ;-)
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Bedrock of the Community
United States
20753 Posts
 Posted 10/18/2010  11:40 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Selling them off is easier said than done for those with no coin selling experiences. There are way to many problems here that require some carefull examing of what is there. As already noted the grade, condition, of the coins is really important. Some coins regardless of grade have little difference in value but others have massive differences. For example a 1931S Lincoln Cent Changes very little from the lowest grade to the highest. Whereas the 1914D can vary from a few hundred dollars to many thousands by grade.
And it's easy for someone to say sell this or that. However, just where do you sell them? On ebay? Are you familiar with ebay? Other on line web sites? Not a coin store for sure. Do you know how to find a coin show? Could you go there with a list of what you have to sell?
And as already noted if she needs the money, not much chance of sending them in anywhere for certifications either.
Are these coins in Folders, Albums, loose? Also, you really need a list of coins to realize what you have there. For example with Mercury dimes there is also a 42D/41, 21, 21D, Several Micro S Mint marks besides the more famous 45 Micro S.
I mention coin shows since if you did find one you may find a dealer that is willing to help you sell them all off for a slight fee. Or possibly purchase the entire collection. But regardless, you should really figure out what exactly you have and what you think it's all worth.
Since your not a coin dealer you must realize that whoever purchases those coins and if for resale, they too need to make a profit so you would never be offered what they must sell them for. Almost all price listings for coins are based on what you would pay for them, not for you to sell.
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BadThad's Avatar
United States
19942 Posts
 Posted 10/18/2010  3:14 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply

Quote:
Otherwise it's a complete set through 1981, including proofs,


For the proofs.....do they start at 1936?

Carl is on to something. If you need to sell them fast, go to a coin show and get multiple offers. It's the fastest and easiest way to unload a bunch of coins and yet get a fair price. You'd also get the best price on the bullion, far better than one of those "we buy gold" shops. Not to mention those places usually do not pay any numismatic premium. At a coin show you'll get that premium if the coins are nice.
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Pillar of the Community
United States
573 Posts
 Posted 10/21/2010  6:56 pm  Show Profile   Bookmark this reply Add StJoeBlues to your friends list Get a Link to this Reply
Thank you for all the input. I will pass along your advice to the family and see what they want to do. You may see some of these for sale here.

And to asnwer a couple of your questions:

cwb - Other than the proofs, they are low grade sets from circulation with the occasional nicer piece thrown in.

Bad Thad - my mistake. The Lincoln proofs start with 1975.

just carl - no chance for certification. Also, no 42/41 Merc, and only one Micro S - the 1945.
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