What to do with a Large Coin Collection?

Great wisdom here! I don’t have a clue about silver values but there’s a lot to consider when it comes to liquidating a collection like yours. I agree it’s wise to seek alternative methods to coinstar! This thread is advantageous to the naive like me. Thanks for sharing your story!


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Thanks KT ! Yes , I do have a few really choice coins collected back when I
had a little spare money to invest in them . I never did get into proof sets
though .Now it's what little silver I can dig up and Coinstar finds .I used to do great coin roll hunting but now the competition has gotten too intense . It seems the tellers have cornered that market . Happy Holidays to you and your family KT .
That’s the part I don’t get, when I started back up roll hunting ten years ago, very little competition until silver prices doubled. Now that they’ve fallen by half, what’s the incentive? I can buy silver for a cheap as what I spend on gas and time via roll hunting, and almost break even. Are there that many more coin collectors now? Or are folks looking to make a fast buck? (yeah right). There’s only one game in town here for tellers to sell, and he pays .50c on the dollar.
 
That’s the part I don’t get, when I started back up roll hunting ten years ago, very little competition until silver prices doubled. Now that they’ve fallen by half, what’s the incentive? I can buy silver for a cheap as what I spend on gas and time via roll hunting, and almost break even. Are there that many more coin collectors now? Or are folks looking to make a fast buck? (yeah right). There’s only one game in town here for tellers to sell, and he pays .50c on the dollar.



Interesting point. I don’t CRH bc not many banks around here keep them in stock (halves). I have always been interested but I just don’t have a supplier. I always enjoy KT’s EOY totals....


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Interesting point. I don’t CRH bc not many banks around here keep them in stock (halves). I have always been interested but I just don’t have a supplier. I always enjoy KT’s EOY totals....


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Ugadigger, it’s easy to find a bank to order halves for you, I did it for years, with never a fee. $500/box. I did the same with dimes, my largest order was 12 boxes at once. $250/box. Not a big deal at all.
 
I'd like to and plan to sell on here...I think. Unfortunately, I'm still on probation as a new member and do not have the strictly required 200 posts in the somewhat mysterious forums that count as part of the 200. Also, my "time in service" here at Friendly probably isn't enough to allow using the classifieds yet. So, maybe on Treasure/Findmall/ebay/etc. I tend to avoid craigslist as aggravating dealing with some of their shoppers. (LOL)

Well, you are almost at the 200 post count here! I say, research, catalogue the inventory, put some “lots” up here at a reasonable price and see what happens. Either people will buy or not. CL is full of idiots. Estate sale and auction listings eat up a ton of potential profit. There are enough “friendly” people around here to help out!
 
Gather the easy to describe items (proof sets, commemorative coins, etc..) and sell in one or two lots on ebay. Definitely multiple lots if there are duplicates.

Many local charities have an annual fundraiser with raffle and silent auction items. They usually get these from local businesses and individual supporters. Call around and see if and when those are coming up. (Don't donate the items until then.) Provide them the info on the coin and the estimated value. If you itemize your taxes you'll get that benefit, but the main idea is to make some donations without touching your bank account.

Catalog what's left of the collection, or pay a trustworthy, smart teenager or college student if you know one. Determine a ballpark value.

Share the catalog with a local coin collecting group and make a very, very generous offer. You'll get more than what a dealer will pay, and save a lot more time and trouble compared to selling online.
 
There is a big coin show held in Orlando, Fl. called the FUN something. Florida United Numismatists.


I would google it and maybe attend it and get a couple of coin dealers bid against each other for the collection. Make sure they don't have time to collaborate.
 
I would sell the clad proof sets first. They're not going to increase in value over the next few years. But hang on to the silver proof sets and silver coins. Silver is dirt cheap right now, but it's starting to creep up again. You'll be kicking yourself if you sell the silver coins if silver goes up to $20 an ounce in a couple of years. Just my take on it...
 
Keep it in storage for a rainy day.. too many people salivating over it..waiting to take advantage...be careful.. Consult several trusted sources..and silver is too low now to sell for scrap..wait a year on that at least..
 
Added note...in addition to getting a general understanding of your collection it might be wise to consult an expert in die errors...you may have a hidden gem...you can only sell them once..don't regret it..
 
Just my 'two cents'. If you don't need the money, then don't sell until you truly know what you have. You could have an appraiser evaluate your collection for insurance purposes to get a ballpark. However, I would suggest not selling at all, but that's just me. It looks like you have a super collection that has taken years of care and dedication to the hobby. I totally understand your reasoning behind selling, but once you sell you can never take it back. Not to mention, you may not need the money now, but you never know what could happen in the future.
 
I doubt you still have all this, but if you do and still want to sell, i'd be interested in buying the entire collection.
 
.I'm in the same exact situation. I recently inherited my dad coin collection. I have never shared the same interest so I know very little about coins. If there were a cigar box then yes, I could go on ebay and sell them. But I wouldn't live long enough to go through all these coins. I neither have time to do it. So I guess they will just stay at the banks safety deposit boxes for the kids, let them deal with it.
 
KT has one suggestion, not made so far, to assist you in disposing of portions of the collection, and that should raise some decent cash for your proposed equipment fund....Contact your local coin club...find out if they hold auctions..our local club does, see what they charge to enter coins into the auction...10%, 15%? That money goes to the club, not to the auctioneer....and put a few of variety to see what they bring on average....but before you do, be certain to check the Redbook to determine what you have that are low mintage and separate out the high grade coins, MS65 or better...those have the highest potential numistmatic value....basically suggest selling the more common and lower grade coins first! Best of luck!:D
 
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