Author Topic: Best Place to Sell Coins??  (Read 2254 times)

Hot_AZ

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Best Place to Sell Coins??
« on: May 05, 2015, 09:56:17 AM »
My mom recently passed leaving me with my (deceased) fathers coin collection.  I will be keeping the majority of it but there are so many duplicates, I would like to sell some of the duplicates to invest the $$. 

Does anyone have advice on the best place to sell coins?  Most traffic, lowest fees, etc? 

Any advice from experience on selling coins?  About 1/2 the coins were categorized and about 1/2 are just loose in bins, tubes, etc.  I realize that this will be a tedious process but I am ok with that.

partgypsy

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Re: Best Place to Sell Coins??
« Reply #1 on: May 05, 2015, 11:09:01 AM »
My FIL was selling some of his coins. The quickest way, especially if bulliion, etc is to find a reputable coin dealer and sell to them. Will not get as much, but it will be straightforward transaction.
Second he sold the rest on ebay. He would look for coin on ebay and look at the range of prices it recently sold for, and sell for a little less. You can try buy it now, or auction bid where you set the lowest limit. There are more details for selling via ebay but that is the basics.

Poorman

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Re: Best Place to Sell Coins??
« Reply #2 on: May 05, 2015, 11:27:31 AM »
I would second what partgypsy said.  If you have some key-date high demand coins, then selling those on ebay might be worth your while.  If they are valuable enough, you might want to get them graded by PCGS or NGC.  This will give buyers confidence in the grades assigned to the coins expanding the potential pool of buyers willing to bid on them.  I think it costs $30-40 to get one coin professionally graded, so it's got to be a coin worth 10-20x that amount to make it worthwhile, IMO.  Obviously, the higher the coin's value, the more worthwhile it is to get it graded.

As for the rest of the lot, liquidating through a coin dealer is probably the best use of your time.  Just do your research on dealers in your area and go with whoever has the best reviews and reputation.  Trust is a big deal in this business and many people get taken by unscrupulous coin dealers that can spot somebody selling their deceased spouses/parents collection from a mile away.

Hot_AZ

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Re: Best Place to Sell Coins??
« Reply #3 on: May 05, 2015, 11:32:25 AM »
That's what i'm worried about, I'm trying to do my research but there are THOUSANDS of coins.  Of course, this doesn't need to be all done this week!  Wasn't sure about selling on ebay but have looked at a few of the coin auctions and there is a fair bit of traffic.  Also was considering something like usacoinbook.com

Appreciate the feedback! 

partgypsy

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Re: Best Place to Sell Coins??
« Reply #4 on: May 05, 2015, 11:36:09 AM »
I will warn you, coin dealers will low ball. They will assume you will do your due dilligence (they are not in the business of educating you) so make sure you do research on the coins before you sell, especially if you are not the person who originally purchased them!