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Replies: 27 / Views: 3,499 |
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Pillar of the Community
United States
2335 Posts |
As some of you may know I've been working with an estate that has an extensive coin collection. We are finally getting down to the end of the process of selling everything the family wants sold. It's beginning to look like there will be a LOT of mint & proof sets left over. I'm talking about multiples of sets from 1971 through 2009. There are so many of these that the local market can't absorb them all. The family has absolutely no interest in these sets. If they don't sell by Saturday one of two things will happen. They will either put them back in the cardboard boxes they were in & stuff them into the attic, or cash them in at the bank. I could probably pick these up for a price that would allow me to sell them at 2 to 2.5 times face value. The problem is I can't afford to have a lot of inventory that will sit around forever. I've checked ebay prices. Even selling in large lots I don't know if it would be worth the time/effort once fees & shipping supplies are considered. Does anyone have any suggestions?
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Valued Member
United States
230 Posts |
Criminal imo to send them back to the bank. Have you tried ebay? Proof sets usually sell for a nice premium over there. Maybe set up an ebay store to post them forever. Shame that proof sets from 40 years have zero value? Don't know if I believe that.
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Bedrock of the Community
 United States
12819 Posts |
How many multiples are you talking about? You could hit up some of the online coin shops who would have a much broader market base than a local brick and mortar and may be able to absorb and slowly sell off.
I've seen a number of threads regarding proof/mint set collecting here, so there are plenty of collectors (myself included) who would probably love to help you burn down that inventory. But you'd have to employ some high school/college kid to handle all the shipping and handling. PITA.
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Pillar of the Community
United States
508 Posts |
I would think that a lot of people here, that haven't yet jumped on the proof bandwagon, would jump at the opportunity to purchase a series run of proof sets. I myself would gladly pick up 1 of each year, provided funds are there, if they are in original boxes. If you can get them cheap enough, grab some and offload em here. ^_^
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Pillar of the Community
United States
4897 Posts |
^I agree. You could probably make a little $ here. More, importantly you could make some community members very happy! LOL
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Pillar of the Community
United States
1745 Posts |
Anything is better than going to the bank. I would think if you bought them for 2 to 2.5x face value, you could make a little money. If you could price below NMV (w/ shipping) and still make a little money, that would be very nice indeed and you would probably have some interest here.
I bought a few from you already, and I'm looking to complete my sets (some ways to go). It's one of those things if I find a good deal on a set I need, I will buy it, but don't usually aggressively go looking for US Sets.
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Pillar of the Community
United States
3283 Posts |
Sell them here, I could use a bunch between 1999 and present
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Pillar of the Community
 United States
2335 Posts |
Quote: Shame that proof sets from 40 years have zero value? Don't know if I believe that. I'm not saying the sets have zero value. If you check ebay you will see that many of the proof sets from the 70's through the 90's sell for $2-4 plus shipping. If you assume that you charge enough for shipping to cover packaging & take in to account ebay fees you are looking at a net of $1.80-3.60. The face value is 85 cents, that means a profit margin of $.95-2.75 on each set. By the time you list it & pack it you have spent a half hour. Selling individually you might make $6/hour & that's only if you get the sets for face value. Selling in bulk you might do a little better time wise, but bulk sales generally sell at the lower end of the price range. All of the sets are in the original government package. However, they aren't pristine. Most have writing on them from the original owner, price tags, etc. I also think it's a shame to cash them in. That doesn't mean it won't happen. This collection had over $1000 face value of modern rolls. They were mostly BU coins in customer wrapped rolls. ebay sales of similar rolls were in the neighborhood of 10-30% over face value. The estate sale company I work for gets 25% & ebay gets their fees......selling on ebay would have netted the heirs less than face value. Someone would have been happy to get those coins, but the economic reality is that selling in that manner amounts to cheating the heirs. The only way it's feasible is if the heirs sell the coins themselves. We passed along that information but the heirs didn't want to spend the time & effort for the few extra dollars they would make.
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Pillar of the Community
United States
524 Posts |
I think if you could be a little more specific about the amount of sets you may find buyers on here. Are there 10 of each year or 100 each. Someone on her may pay you 2x-3x face plus shipping to look for quality coins to grade and resale. Sorting them out and reselling them might not be worthwhile to you but there could be someone here who would love taking the time and making a few bucks. I can't because my post number is too low but I bet someone will if you can provide a little more detail and a more specific price. Just say I have x number of proof sets and x number of mint sets between 71' and 09' if someone will pay $xxx plus shipping for the whole lot it's yours.
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Pillar of the Community
United States
797 Posts |
If they let them go cheap I am sure you could get rid of a bunch of them on here. I would be interested in some mint sets and possibly proof sets if you need to get rid of some cheap ones.
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Pillar of the Community
 United States
2335 Posts |
I can't be specific about how many sets will be left because there will be 2 more days of public sale. At this point there are 5 to 10 sets of most years. Based on past experience 25-50% of those will be left.
It's a dilemma. I hate the idea of these going to the bank or sitting in an attic & I'd like to pass on a decent deal to forum members but I don't want to get stuck with a bunch of sets that will sit in a box in my basement for the next 2 years.
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Pillar of the Community
United States
2150 Posts |
I would probably pick up a run if they showed up on here. 
Edited by jokingjoker 06/07/2011 3:04 pm
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Pillar of the Community
United States
1745 Posts |
I have an idea, maybe you can get CCF Members to pledge to buy them at a certain price. That would allow you to anticipate the demand better.
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Pillar of the Community
United States
1348 Posts |
I would buy the whole lot if the price was right. I wouldn't pay ebay retail of course but I have a booth at a local antique shop where I could put these and have them go to people who will collect them.
Edited by w1a9c8k5 06/07/2011 4:29 pm
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Pillar of the Community
United States
2150 Posts |
Quote:I would buy the who lot if the price was right. I wouldn't pay ebay retail of course but I have a booth at a local antique shop where I could put these and have them go to people who will collect them.  Except instead of buying the " who" lot, I may be interested in the whole lot! 
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Pillar of the Community
United States
1348 Posts |
I EVEN USED SPELL CHECK! LOL
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Replies: 27 / Views: 3,499 |