Possibly liquidating 45+ years of stock from store.

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Tapdog
Posts: 6
Joined: Tue Nov 19, 2019 12:43 am

Possibly liquidating 45+ years of stock from store.

Post by Tapdog » Sat Nov 23, 2019 1:20 am

Hi, my name is Kelly Foot, my dad Bill Foot of Langley’s bc Foot stamps and coins recently passed away and I will be liquidating all stock in the near future as executor.
Haven’t quite decided how I am going to accomplish this yet as there is a VAST amount of stock. I may do lots or individual sales on line which may be too time consuming or perhaps try to find someone in the area interested in the entire business.
I got out 30 years ago and can’t drop everything to continue this business.
My reason for this post is to ask you the community for advice, he was a smart guy but pounded into me that his biggest knowledge base was his customers and friends with a passion for what they are interested in and collect.
If I post multiple ads on eBay for example, should I also post here?
I am duty bound to extract maximum for estate and my mom but don’t want to spend 3 years doing it so my main goal is to move it out.
I have hundreds and hundred of silver mint products that the mint seems to puke out that will probably all go at scrap value.
dozens of albums of coins and bills of all denominations, one full album is replacement notes alone.
Any advice would be appreciated.
Thanks for reading.

cloutierdg
Posts: 5
Joined: Mon Aug 12, 2013 6:36 am

Possibly liquidating 45+ years of stock from store.

Post by cloutierdg » Sat Nov 23, 2019 1:42 pm

The best way to do that,
just put a lot of photo in this site
and you will have some offer from us

Best regards
René Cloutier

SPP-Ottawa
Posts: 6
Joined: Sun Jul 21, 2013 11:55 am

Re: Possibly liquidating 45+ years of stock from store.

Post by SPP-Ottawa » Sun Nov 24, 2019 2:45 pm

You are probably correct about the RCM mint products, as to their value (basically melt). Some dealers don't even buy them anymore, other than for melt value.

Why not consign the inventory to an auction house?? For a lot that large, I would imagine any Canadian auction company would waive the consignment fee - so you would get the hammer price. An auction company can also spread out the inventory over several auctions. They probably would fly out, arrange for the shipment of material and then you do nothing more but be a spectator in the auction. A good auctioneer would also highlight the material as part of a legacy, describing your Dad's business and history in the hobby, such as when the Robert Krill collection, Landon collection and Cooper collection sold.

I recommend Geoffrey Bell Auctions: http://www.gbellauctions.com

Tapdog
Posts: 6
Joined: Tue Nov 19, 2019 12:43 am

Re: Possibly liquidating 45+ years of stock from store.

Post by Tapdog » Sun Nov 24, 2019 10:56 pm

Thank you I will look into that, have to discuss reasonable reserves, can’t have this stuff going for below scrap value.
My mom needs the money.
Bills and stamps are going to be a bit of a bear, the faster you have to move stuff the less it goes for once there’s blood in the water.
I’m searching for the purchaser of a particular 54 bill, I am going to post in bill section.
I have a fellow claiming it was on consignment.
Thanks for ideas.

momomomo
Posts: 64
Joined: Sun Dec 20, 2009 4:59 pm

Re: Possibly liquidating 45+ years of stock from store.

Post by momomomo » Tue Nov 26, 2019 6:42 am

Welcome!

If you are looking to sell out fast, an auction house is probable the best way to go like SPP said.

bidderdown
Posts: 36
Joined: Sat Aug 12, 2017 9:52 pm

Re: Possibly liquidating 45+ years of stock from store.

Post by bidderdown » Wed Nov 27, 2019 3:57 pm

if u go to auction they finally charge 50% more or less
RCM products u can return to the ban k or directly to RCM for refund
i will buy dimes quarters fifty cent pcs silver dollars pre 1968 let me know quanity like 100 dimes etc
face banknotes $ 1000. bills take to bank for $ 1000. selling market is like $ 1100.
yes it will take time to dispose of no matter what avenue u take
I am a private collector not a store hope this in some way assists u

SPP-Ottawa
Posts: 6
Joined: Sun Jul 21, 2013 11:55 am

Re: Possibly liquidating 45+ years of stock from store.

Post by SPP-Ottawa » Thu Nov 28, 2019 9:40 pm

Tapdog wrote:
Sun Nov 24, 2019 10:56 pm
Thank you I will look into that, have to discuss reasonable reserves, can’t have this stuff going for below scrap value.
My mom needs the money.
Thanks for ideas.
Good luck. I am always buying as well, but mostly:

- error coins (I'll buy them all)
- brand new rolls (coins intended for circulation) or sealed mint bags.

bushman74
Posts: 109
Joined: Wed Dec 26, 2012 4:27 pm

Re: Possibly liquidating 45+ years of stock from store.

Post by bushman74 » Sun Dec 01, 2019 6:54 pm

Hello Kelly,

You do have a big job ahead of you.

I don't know where bidderdown lives or gets his information from but I have never heard of an auction taking 50%.

Now it is hard to say exactly what you have but you may be able to get one of the good Canadian Numismatic Auctioneers doing it for 0% or a very small percentage. Alternatively they may buy everything outright from you.

I suggest that you contact the following:

Eric at The Canadian Numismatic Company
1-877-276-8627

Todd at Colonial Acres Coins
1-888-255-4565

I have dealt with both individuals for many years and found both to be extremely fair. I have both sold numismatic material to them and also consigned goods to their auctions.

Have you got a complete inventory of everything that your dad has in his shop. That will be extremely helpful in the sale of everything

Realistically unless you are willing to take the time to sell everything slowly over time you will never get the full value you want.

Try the two people I recommended for at least a portion of the good stuff. At auction both of them may get you some premium prices. Some mint product will unfortunately go for loss.

Tell Eric & Todd Jack in Calgary suggest that you contact them and hopefully they will give you 0%.

What you might consider doing is splitting the goods to be auctioned equally between them.

Good luck.

Jack

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