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 Replies: 10 / Views: 1,574 |
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Valued Member
United States
134 Posts |
Hopefully I'll never have to sell my collection, but can you tell me whether it is more profitable to sell coins out of a collection individually, or is it more profitable to sell the collection as a whole?
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Pillar of the Community
United States
4085 Posts |
I think you will do better selling individually. If you sell a collection, you are probably mostly going to attract buyers who either 1) want to keep the best and sell the rest or 2) sell the whole thing - both at a profit. I.e., they are looking to pay a wholesale price.
If you sell individually, you will probably attract buyers looking to add to a collection - i.e., more willing to pay retail price.
Ken
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Pillar of the Community
United States
564 Posts |
Individually sell the key dates and high quality coins. Then sell the rest in like lots. It will take an extremely long time to Sell everything.
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New Member
United States
14 Posts |
If you do the work yourself and you don't find your time too valuable selling everything individually would probably bring you more profit.
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Valued Member
United States
255 Posts |
As said above, individually is best. However, it all depends on your opportunity cost/how you value your time.
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Valued Member
United States
373 Posts |
A few years ago, I brought my whole collection to Heritage Auctions in Dallas, and it took a few hours for them to look at my coins, and then they wrote me a check for over $3,000. I think I lost a few hundred on a 1923 St. Gaudens MS62, but I need the cash. A lot of the coins I brought in they said they would just deposit it into the bank. I guess they weren't valuable.
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Pillar of the Community
United Kingdom
1682 Posts |
If you ever do have to sell, our forum hosts Bobby and Susan offer a Coin Consignment service that you should consider using. Link is available from the left hand Navigation pane.
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Pillar of the Community
United States
3592 Posts |
Individually to get the most money,but really how you do it depends on the size and how fast you want to get rid of it.
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Pillar of the Community
United States
1283 Posts |
I would say it all depends. It would depend on the collection and your method for selling them. For example, if your collection is comprised of mostly worn common dates selling them individually on ebay would rack up tons of ebay fees and become very costly. But generally speaking a collection will eventually sell for much more individually. Most collectors either look for specific coins or browse for individual coins that they like. Someone who's willing to buy an entire collection is typically a dealer looking to resell them, or perhaps a collector who's looking for a really great deal. I've seen collections and completed albums auctioned on ebay and I'm always tempted because I know they will sell for way below fair market value. Most people either can't or won't plop thousands of dollars down for a complete collection. Edited by USArmyParatrooper
12/27/2010 12:20 pm
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Rest in Peace
United States
5375 Posts |
I'll just say that buying complete/mostly complete sets and collections on ebay is one of the biggest ways I make money with my selling... Edited by coinguybrian
12/27/2010 7:57 pm
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Valued Member
United States
307 Posts |
If you sell your collection Thur a consignment agreement be sure to read the agreement because there is a clause that reads you are responsible for all taxes. This expense can cause distress because you need to have proof of what the cost was. If it was a gift you still owe a tax. Even selling on ebay will still bring IRS implications. Your best option is selling to collectors willing to pay a fair price without a paper trail. Been in your shoes. Good Luck. |
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Replies: 10 / Views: 1,574 |
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Posted 12/25/2010 12:18 pm
