Came to the realization
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6 posts in this topic

It just isn't going to happen

 

Greetings once again everyone,

After talking to other collectors here and posting about selling some of my collections, it finally hit me (duh) that trying to sell a complete collection is almost impossible as not too many collectors here have 10 - 15 thousand dollars just laying around to spend on whole collection(s) but most everyone here is willing to buy single coins. I really wanted to keep my collection(s) intact but it is what it is. So I will entertain offers for single coins for one more week then it is off to the auction house with some of my collections. Any of the coins I have are fair game but please before offering something, check the FMV for that coin.

 

Mike

 

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Mike, unless you are in desperate need of immediate cash, I would continue to try and sell them through the MarketPlace section here on the site. I really think you will be disappointed with the auction houses. Just remember, if your coin has a $500 FMV and it sells for that, after the auction house takes there seller/listing fees plus between 15-20% commission you will not even come close too that. Keep that in mind when someone makes you an offer.

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yes Mike, I feel your pain. It is a really cold slap in the face to find out how much money we lose and what a poor investment coins are unless you keep them for 20 or 30 years;.

 

I just did a tiny bit of quick research ( and I also have lost bundles-especially when I started out collecting High grade Moderns and then re-sold)

 

If you look at FMV's of NGC and PCGS for the first 10 ASE's in MS 69, that is the 1986 through 1995 ASE all graded and slabbed in MS69 grade.....

 

PCGS list at $58 per or roughly $580 for the 10 coins in PCGS slabs

NGC mixed values but avgs $55 each or $550 for the 10 coins in NGC slabs

 

Now, a very quick perusal of ebay that I just looked at 10 mins ago, I saw the last 4 MS69 ASE's sell for ( all were NGC by the way)

 

2006 First strike slab ==39.77

1986 Special First year slab==40.50

1987 regular slab ==36.03

1995 regular slab for 43.55

 

a total of 159.85 for 4 coins FMV was $220 combined....that is roughly just 73% of the listed FMV's...

 

If you really want to understand the pain, now factor that the seller is paying roughly 12% to ebay and paypal fees or 19.20 in fees so only $140.65 will end up in the seller's account after the effort of listing, shipping, picture taking and the trip to the post office.....barely above melt!!

 

Another example to show why it is best to sell here or to9 friends at under "FMV" ( my opinion is FMV is a joke and arbitrary number just made up by a consortium of sellers/dealers)

 

SDomeone showed interest in the 1968-S, 1969-S and 1970-S PF69UCAM Kennedy Haslves...FMV for these coins is $300, 200 and $356 in NGC slabs ($856 total FMV) and of course they are more valuable in PCGS slabs at $930 combined FMV.

 

A quick check of Teletrade for the last time that these 3 coins sold at auction together was March 14th 2012...they sold for $140, $100 and $150 ( you can look it up) or $390 total dollars bidding price for all 3 coins==45% of the "FMV"..subtract the 15% consignors fee and it is $331.50 for coins listed as $856 by NGC..

 

And trust me, my Walkers don't fare any better than this with the Real World Return on my coins if I were to sell vs the FMV lists that suckered us.

 

Our best bet as collectors is to sell to each other with one collector making reasonable and respectful offers and the seller understanding that getting even within 25% of FMV at auction is a pipe dream..I hope this did not come across in any way as harsh or insulting, I have learned this hard lesson myself as I already mentioned. I just felt that if nobody else would tell you the cold hard truth my friend, then maybe someone else who has suffered through it should give you a heads up...Best of luck and if you do sell, break em up seperately and get the higher bucks for the higher coins and hold onto the ones or group the common ones to lessen the pain.

 

PS: of note is that the exceptions would be unique or outstandingly eye appealing coins. There is always a market for PQ coins or distinctive coins--often again, the FMV doesn't matter because when these show up then the price can go well above those lists too. Even top-pop moderns go for a low % compared to FMV unless there is a desperate registry participant who really wants to move up in rank.

Edited by jackson64
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Your info on the Kennedy's is wrong my friend. You need to look at the most current auctions that just closed and you will see a difference. I just checked (at Teletrade) and all 3 sold higher in Aug and Sept. which would support what the one auction house (it was actually Teletrade) told me about summer-time spending habits.

 

We are on different sides of the track when it comes to FMV.

What I believe is usually people that don't agree with FMV try to one-side a negotiation over a coin. I just posted a great meaning of FMV (please read) these prices are based on current auctions, etc. It gives a median starting point when buying and selling. Exceptions would be TOP POPs that don't come up for auction very much if at all. Without a reference point (FMV) both sides would argue the validity of the asking and selling price based on what ???? Some Joe Smo who sold a crappy looking PF69UC Kennedy that a collector wouldn't want in their collection dumped his for 80 dollars and now some people think that is the market price now. I can only reiterate what was in my post about FMV..

:Cheap coins aren't nice, and nice coins aren't cheap".

I appreciate the feedback but lets agree to disagree on this one.

 

Mike

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Mike,

Selling your coins is just like purchasing. Patience and selection will save you from spending too much when you buy. Patience and time will let the buyers decide to raise their offers for the coins you are selling. Sell your sets the way you purchased them--- a coin or two at a time to buyers that really want them. You can't quick-sell a few sets in a couple weeks and expect to come out ahead or break even. Also as you are going to be selling quite a few coins to others it would benefit you to set up a pay pal account. I set one up last night in around 5 minutes. Sold a coin, sent a invoice, and will ship the next day. It sure makes things easy for both parties.

 

Just My Thoughts ------ Good Luck Bud

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