Selling Coins to a Dealer

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newbie
Posts: 1
Joined: Tue Apr 05, 2016 12:09 pm

Selling Coins to a Dealer

Postby newbie » Thu Apr 07, 2016 1:16 pm

Hi Everyone:

I am selling off my childhood collection and need to balance a reasonable return with time and effort. I have about 1,200 items comprising Canadian and foreign coins and paper, Canadian specimen sets, uncirculated rolls, odds and ends, etc.

I have found a few dealers and am considering having them review the lot and see what happens. Any thoughts on the questions below would be greatly appreciated!!

Questions:
1. Is a typical appraisal fee? Better to go with an hourly fee or another arrangement?
2. Any recommended dealers in the Toronto area?
3. What would be a decent return from a dealer sale versus the book value presented on the site? Would you expect a dealer to offer 30% of the book value, assuming grade and condition are appropriate?

Thank you!

Shylo
Posts: 180
Joined: Fri Apr 12, 2013 10:42 pm

Re: Selling Coins to a Dealer

Postby Shylo » Thu Apr 07, 2016 1:55 pm

So first thing to understand is that a dealer has costs associated with their line of work and has to pay for those cost...

So if you see a similar coin of grade date and variety sell on ebay for $100 assume the dealer will offer you between 40%-60% of what they think they can get for it.

Don't make it personal.. while the collection is personal to you.. it's strictly a business to them. So don't be offended if the price they give is not the price you want... be reasonable you can do your best to try to negotiate your best deal but don't be offended.

1) Appraisal fees are usually for insurance purposes... but not worth it if you're going to sell items... place your stuff infront of the dealer and let him/her come up with an offer.

2) I think there's a pretty big show happening in Toronto at the end of this month. The Toronto Coin Expo. You should go... there will be plenty of dealers there with tables. Especially local guys. From big shops like CCC to smaller vest pocket dealers. Circulate talk to a few.. bring your collection or have some pictures and a list of what you have available and go around asking dealers if the would be interested in buying any of the coins themselves.

3) I think I answered this from above... but somewhere between 40% & 60% depending on how liquid and desirable the piece is.

Mind you this is a percentage of what they think they can SELL it for... not what a catalog or guide states as the value... most of those guides are just off on their prices.


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