Estate collection/accumulation- seeking advice

General discussions about canadian coins.
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coinrookie
Posts: 3
Joined: Mon Nov 25, 2019 3:27 pm

Estate collection/accumulation- seeking advice

Post by coinrookie » Tue Nov 26, 2019 4:30 pm

Greetings! I'm very new to the world of collectible coins and have undertaken the daunting task of sorting and cataloging my late aunt's large accumulation of coins. Between myself and my dad and uncle, who are the estate executors, we have no idea as to the best method of selling the coins, which is why I'm here.

What I've done so far:
It seems that my aunt would buy a number of coins and sets from the RCM every year, usually 5 of each of anywhere from $200 coins, proof sets, proof silver dollars, uncirculated sets, etc. When she received the boxes containing the items, she would check the contents against the invoice and then just put the boxes away. 99% of the coins and sets I've come across have never been taken out of the plastic shrink wrap, or the box they came in.

So far I've gone through almost half of the boxes containing all of the RCM items that appear to date back to 1993, and have tried to consolidate them into boxes according to the year. I've logged each item into a spreadsheet listing what it is, the quantity, any retail value I've been able to find on the internet, and where I found that value.

What would be the best way to sell this accumulation of items? Would we be best to send them to auction or try to sell them all to a large coin shop? I understand that we won't get anywhere near what the retail value is, but there's no way the collection can be sold individually online as nobody has time for that.

I'm located in Central Ontario, about an hour's drive from Toronto.

Thanks for bearing with me if you've made it this far!!

Bill in Burl
Posts: 634
Joined: Thu Sep 04, 2008 7:41 am
Location: Golden Horseshoe, ONT

Re: Estate collection/accumulation- seeking advice

Post by Bill in Burl » Tue Nov 26, 2019 5:44 pm

Most, but not all, of the annual RCM stuff sells at well less than what they cost initially. Many sell at scrap silver prices, if they are silver. I would get a copy of the Vol 2 of the latest Charlton annual guide which has non-circulating coinage ... you do not want the numismatic volume for circulating coinage. You may find some of your stuff here:
http://www.coinsandcanada.com/coins-prices.php

I would contact a few of the large coin shops/stores that you will find in a recent edition of the Canadian Coin News through their ads inside. The shops themselves are able to buy all the RCM stuff at a steep discount from regular folk, so their prices may be lower than you want.

I would also try something like kijiji, but don't have any potential buyers to your house ... meet at Tim's somewhere or go to them.
Bill in Burl

coinrookie
Posts: 3
Joined: Mon Nov 25, 2019 3:27 pm

Re: Estate collection/accumulation- seeking advice

Post by coinrookie » Tue Nov 26, 2019 10:00 pm

Thanks for the reply Bill. I figured that a lot of the annual stuff like the silver dollars and uncirculated sets wouldn't be worth a whole lot as there were probably a high number of them minted. I ordered volume 2 of the 2019 Charlton guide so I'll check through that when it arrives.

Would the $200 and $100 coins be worth a little more? Not sure if they would have had the same production quantity as the lesser coins.

I've also come across, so far, 8 of the Platinum Wildlife and Platinum Endangered Wildlife coin sets, still in the plastic shrink wrap and never opened. The only place I could find any information on them was jandm.com, where they have a page that lists the mintage and price of each set. Most of these sets have a very low mintage number listed, like 336 for the 2001 set I have, which would have presumably not saturated the market and held their value when compared to higher mintage sets. I would like to try and sell these sets individually if there are collectors out there that want them, and I don't think I'd be forced to sell them to a coin shop for far less than retail. Any advice on these sets would be much appreciated.

Thank you!!!

pmcoins
Posts: 23
Joined: Thu Oct 24, 2013 7:41 am

Re: Estate collection/accumulation- seeking advice

Post by pmcoins » Sun Dec 01, 2019 1:11 pm

Sounds like a big grouping of Mint product. It is hit and miss, a lot of it at bullion or close to it. In lieu that, as it is an estate, would recommend the auction route. Let the auctioneers make a few dollars as it is a lot of work for them and merely cataloguing and delivery on yours. You will get market value as now most sales are listed on internet platforms and made available to everyone. A good auctioneer will ask 15% commission, payable 45 days after the auction. Good Luck.

coinrookie
Posts: 3
Joined: Mon Nov 25, 2019 3:27 pm

Re: Estate collection/accumulation- seeking advice

Post by coinrookie » Sun Dec 01, 2019 8:57 pm

Thanks for the advice pmcoins. I was thinking about going the auction route but in looking at some past auctions on the Canadian Numismatic Company website I noticed that a lot of items don't sell. What happens to these unsold items? Does the auction company just send them back to me?
Yes, it is a very large grouping of Mint products, probably dating back to the early 70's. So far I've cataloged 576 items, and I'm maybe 1/3 of the way through everything.

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

Re: Estate collection/accumulation- seeking advice

Post by momomomo » Tue Dec 03, 2019 7:58 am

If they don't sell at one auction, they can get relisted at the next one.

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