Coin collection

[Azgunlover69]

Family is tasking me with liquidating a coin collection. What's the best method? There's gold, silver, bills and stamps. Taking it to a gold and silver buyer worth it, or do they rate you on price?

For instance, we have a $20 gold coin that is .96oz fine gold. Going rate brings roughly 3100, while online I see the coins value is 3300-3400.

Anyone have methods they have used that worked well and you had a good experience?

 

[thom]

There are a few places to turn in gold for cash, BUT they sure aren't going to give you the going rate. They keep a profit margin so they can turn around and sell it again. When I had a couple of gold pieces, I went downtown Phoenix to C&C coin and stamp. They were honest about prices.

 

[Azgunlover69]

Appreciate it. I'm flutuing back from MN tonight with a bunch of it and will start going thru it and reach out to them for starters.

 

[EarlCordova]

When my sister sold my dads collection she found a few professional gold and silver buyers that would give you a little above spot price for collectable coins.
So you would have to look around for the one that will give you a few more points than the others.

Flutuing sounds like fun.

 

[Harrier]

Depend on if you just want to get rid of them or if you want the best price...
It used to be a 3% premium or $50 was about the going rate but the last several years dealers have gotten greedy and want up to 10% or more... F 'em... I wouldn't take more then a 3% markdown
If you want to do a little work yourself there are other avenues to get a better price...

Check out on-line buyers - this is a pain because most of them want you to mail them in to inspect and then will tell you what they will pay - time consuming- who pays return shipping and the product is not in your hands... nix.

Reputable auction houses like Bowers & Merina for the pristine and rarer stuff or a local outfit in the big city will get you better prices but beware they have steep fees.

Coin shows let you shop dealers and sometimes customers... or get a table and sell em yourself.

Get to an on-line coin forum and list em in their marketplace at reasonable but close to value prices = its always easier to come down than it is to raise the price...

Find a local coin club and let em know what you have... sometimes they have their own 'bulletin board' silent auctions and the offers will come in...

Good luck.. it aint easy.

 

[Suck My Glock]

There is currently a huge gulf between what buyers and sellers pay on the "spot" price. Sellers are demanding a "premium" on top of the spot price. As a result, private buyers, if you sell at the recognized spot price, will be very happy to pay it. But if you go to a coin shop, they will also claim that because of these premiums out there, that they must offer you an amount equal to the premium BELOW the spot price. Thusly, they are making a percentage BOTH on the acquisition AND the sale.

If you are willing to hold out for a private buyer, you will get more, and they will pay less, and both of you will be happy.

Best way to track the current spot price on gold and silver coins is at these links for coinflation.com

https://www.coinflation.com/silver_coin_values.html

https://www.coinflation.com/gold_coin_values.html

 

[Azgunlover69]

Well I like those sites. We have 1 of those gold 1849-1907 Liberty Double Eagle$20.00$3099.98 listed on the site.

The rest is mostly silver.

We aren't in a rush but don't need to hold out a year for an extra $50. Looking for a good price in the somewhere near future.

 

[fredcdobbs]

If you have stamps I can give you a realistic value. I am not a dealer I do not buy stamps to sell. I have been a stamp collector for over 50 years.

 

[Azgunlover69]

I do, but no room to bring them this trip. I'll have them in July. There are some marilyn monroe, nickson and jfk.

 

[Harrier]

What ever you do... DON'T try to clean or improve the looks of any coin - you will destroy all numismatic value. if the coins are in flips or plastic holder - leave them in there. Hold raw coins by their edges (between two fingers- not touching the front/back surfaces). Grading the condition of each coin is a learned art - don't look at a book and think yours is at the highest price shown - it has to be graded by a qualified non-interested party before price charts can be consulted (buying dealers will often tell you its a lower grade to reduce the value - sellers will often raise the grade to get more $)...