Thanks for feedback. To add a little more detail re methodology used.
1. Previous to receiving this
inherited collection, we have had no coin collecting history. Over the past 3 decades we have assembled an extensive, fully catalogued Australian mint and used stamp collection. Whilst we understand the differences between coins and stamps, the collecting principles, we assume are similar! Whilst the stamps have been time consuming to this point, we are now at a stage towards consolidation, i.e. in disposing of non-performing or non-interesting stock.
2. Coins have not previously held the appeal of stamps, but in this case, the coin collection holds a lot of sentiment, as
inherited, but this should not cloud quantified decision making.
3. We commenced sorting received and
inherited bags of coins into countries as possible, no cleaning and taking care not to cause damage.
4. Once coins were sorted by countries, next sorted by denomination and by ruler reign.
5. Purchased a proprietary coin collection software, reviewed the format and from which Krause catalogue system was indicated. Acquired copies of Krause catalogues 1601-1700, 1701-1800, 1801-1900 and 1901-2000.
6. Commenced loading data to software, by coin type. These works were undertaken after reviewing the Krause catalogue and critically reviewing both obverse and reverse coin faces under magnifier to ascertain mintmarks and/or other identifiers.
7. After loading some 20% of coins, tested the reporting functions of the proprietary software and which were considered to be very restrictive and not to our requirement.
8. Undertook design of database within MS Access, which replicated all the good points of the proprietary software, plus others and gave us unlimited reporting possibilities. Whilst our priority at this stage was to establish a quantifiable $ value for the collection for inheritance purposes, it was also believed that if the collection was to be retained, all the hard work and a lot of leaning would be done at this stage.
9. With some valuable help from this forum, completed the identification and loading of the collection. Coins are now catalogued, bagged, tagged and in safekeeping.
10. Every record within the MS Access database contains ALL Krause detail by catalogue reference and where information was not available from Krause, spent many hours on the web towards sourcing the required detail. The only field not completed refers the grading of the coins. For costing requirements we utilised the lowest grading of VG for everything. Some 10% of what we believe are the more valuable coins have been scanned, the remainder can or will be done once a decision is made to the collections future. Scanning is not an issue as we can utilise the stamp scanning hardware and software.
So, what we have is a very well catalogued coin collection, sorted, bagged and tagged, now to the future?
The goal is to make the correct decision in moving forward and to which again we seek your advice.
If we are to sell the collection.
1. Do we sell off the gold coins to the
Perth Mint based upon the high gold price?
2. Is there a premium for proof gold coins above the published gold buy back price?
3. Do we take the collection to a local coin dealer and negotiate a settlement?
4. Do we undertake selling coins on
ebay, of which we are a regular buyer, but not seller? This wheeling/dealing in commodities has appeal in our retirement.
5. How can we quickly learn the most effective procedures and methodologies to become a quality
ebay seller?
6. What are the major pitfalls in selling coins on
ebay.
7. Is there a better forum than
ebay, by which to sell coins?
8. There is a quantity of early Australian and Great Britain silver coins, is there a different methodology in disposing of these coins?
If we are to keep the collection.
1. Further to data entry and interrogation of the database, there is some 16% of the collection to which we have allocated $0.0 vale, based upon published data. Similarly, there is a further 18% of the collection to which we have allocated between $0.01 and $0.30, based upon published data. Using the same criteria as for stamps, there are some very obvious cut offs, relative to return for effort. Does the same apply to coins?
2. Is there a market for these low value coins?
3. As in stamp collecting, we would assume that with coins one would attempt to have complete groups within the collection, either by year, reign, denomination etc. Is this correct and what is the criteria for adding to your collection?
4. From the little we have seen on this forum, one has the potential to be come very well informed by reading and asking questions? This is together with the valuable information published in Krause. Are we on the right direction here re learning the trade?
5. Have not even considered the methodology in displaying the collection, if maintained. Note that sites allow images of collections to be loaded and which can be enjoyed by all. Your thoughts re this point would appreciated.
Best to stop now and see what comes back from the forum and from which am sure many more question may be forthcoming.
Thanks.