Best way to sell graded coins in a short time?

[Roy]

Evening chaps.

 

I'll be back in the UK this October and I want to sell up to 30 graded (NGC and PCGS) coins to free up space in my SD box!

I bought too many Jubilee/Memorial/ Coronation coins lol

SD box real estate is pricey and the slabs take up too much space, I've already upgraded my box and don't want to do it again.

To the point: What style of sale would be most appropriate?

 

A @Paul style multi-listing

OR an auction?

I was never a fan of auctions before but you chaps seem to have created the ideal template.

I could list all the coins and run the auction over an hour or two?

Would make it easier for me to post out.

 

Or should I just send them all to COTR?

?

[BullionBuyerUK]

Definitely a Paul style multi listing would be best imho. 👌

 

Ready and waiting 😁

[JamesH]

Maybe a Paul style multi list and then auction any of the unsold items?

[Roy]

Do you not think the multi-listing is more suited to bullion?

i.e. list everything at once, price it right, and the buyers just react...

Look, cheap, want, PM!

Whereas graded coins need some research, mintage, graded population etc?

Maybe I'm overthinking it, selling a coin shouldn't be hard!

 

[Zhorro]

I think the key thing is to be competitive on price.  A lot of Forum members already have these coins (OK maybe not graded) and so to entice them into buying, it is going to have to be down to price. If you put them into auction I don't think you will end up getting spectacular prices.  So, do your research on prices and be realistic in your expectations. Multi-lists seem to work well if the prices are right.

[Roy]

Good point.

I have a few that are low grade and will probably only make 'bullion' prices. These will be multi-listed.

The proofs need some thought, I've been disappointed lately that proofs are not selling well.

In which case, it's probably an idea to 'jailbreak' them and put in capsules.

[NGMD]

You could break it down to three standard listings- low graded proofs, high graded proofs and Desirable proofs. I wouldn’t break the coins as it gives the potential buyer the option to open and is transparent what the customer is buying.

High graded proofs have taken a beating recently and are not reaching premiums you would expect. Mine included, but I’m patient.

It would be good to see a selling frenzy of tasty coins though😁

Reduce pricing on non movers and take offers. Last step- 2hr quick fire auction.

Coronation coins you say, yes please.

 

[Roy]

3 hours ago, NGMD said:

Coronation coins you say, yes please.

Ah. Confusion?

I bought too many recents and need to sell some older graded coins to make space!

Coins offered will be early 20th and late 19th century 😊

[Silverlocks]

11 hours ago, Roy said:

Do you not think the multi-listing is more suited to bullion?

i.e. list everything at once, price it right, and the buyers just react...

Look, cheap, want, PM!

Whereas graded coins need some research, mintage, graded population etc?

Maybe I'm overthinking it, selling a coin shouldn't be hard!

 

I multi listing would be good for lower premium highly liquid items.  Some of your graded coins might be appropriate for that.

If you want to maximise the return then it might be better to drip feed them onto the market in individual listings.  Anything in PF70 you might want to use Coins of the Realm and auction them off.  

[modofantasma]

12 hours ago, Roy said:

Do you not think the multi-listing is more suited to bullion?

Whereas graded coins need some research, mintage, graded population etc?

If you have a list of what you have you could publish a list prior to arriving back people could see images online with cert numbers and many will be able to make a decision pending seeing final photo when you're back and they're in hand 

[Paul]

@Roy if you do a pre sale. Try and get items sold/agreed in principle and arrange payment/delivery once youre back on UK soil. That way you've gained a month of exposure/potential sales

As long as you are clear with your conditions and what is happening it will work out ok

From my experiences if I'm honest, graded/slabbed don't seem to fly out super quick here 

[dicker]

3 hours ago, Paul said:

@Roy if you do a pre sale. Try and get items sold/agreed in principle and arrange payment/delivery once youre back on UK soil. That way you've gained a month of exposure/potential sales

As long as you are clear with your conditions and what is happening it will work out ok

From my experiences if I'm honest, graded/slabbed don't seem to fly out super quick here 

I like the pre-sale idea.  Plenty of exposure!

[Roy]

6 hours ago, Silverlocks said:

I multi listing would be good for lower premium highly liquid items.  Anything in PF70 you might want to use Coins of the Realm and auction them off.  

 

5 hours ago, modofantasma said:

If you have a list of what you have you could publish a list prior to arriving back people could see images online with cert numbers and many will be able to make a decision pending seeing final photo when you're back and they're in hand 

 

3 hours ago, Paul said:

Try and get items sold/agreed in principle and arrange payment/delivery once youre back on UK soil. That way you've gained a month of exposure/potential sales

 

41 minutes ago, dicker said:

I like the pre-sale idea.  Plenty of exposure!

Agreed! There will nothing too exciting listed, sone AU55, a few low MS and a few 69s!

Perhaps gap fillers for you?

There are a couple of baby Onzas too, some folk like these. I'll prepare a pre-sale and go from there. Nothing will be sold until coins are in hand.

Cheers!

[Paul]

Just now, Roy said:

 

 

 

Agreed! There will nothing too exciting listed, sone AU55, a few low MS and a few 69s!

Perhaps gap fillers for you?

There are a couple of baby Onzas too, some folk like these. I'll prepare a pre-sale and go from there. Nothing will be sold until coins are in hand.

Cheers!

Price it so it sells. Always guarantees results 

The sweet point is always just over spot and below dealers premium @Roy

[Roy]

Yes, you've proven that many times! 👍

It's difficult with graded coins though, what premium, if any?

[dicker]

Hi Roy,

May I ask what sort of graded coins - are they recent RM issues - say within the last 20 years?

best

Dicker

[Roy]

Some 19th C, some early 20th and some post 2000!

A bit of everything.

edit: but nothing exciting. 

Edited August 27, 2023 by Roy

[dicker]

That’s a good mix.  I would think the older items might sell a little better than the newer ones.  But may well be wrong!

[Roy]

Yes, the later ones may get broken out if they don't reach my price point 😔

@modofantasma, are you after an 1868L?

[modofantasma]

3 minutes ago, Roy said:

Yes, the later ones may get broken out if they don't reach my price point 😔

@modofantasma, are you after an 1868L?

I've got some 1868 sovs already but thanks for checking. I'll keep an eye on your listings though to see what's there 

[Roy]

On 26/08/2023 at 15:09, Roy said:

In which case, it's probably an idea to 'jailbreak' them and put in capsules.

Now, here is another coin which leaves me in a bit of a quandary.

A 1924 $20 St. Gaudens double eagle, graded MS65.

 

Mmm, lovely but wait...who is Numistrust, have you heard of them...can they be trusted?

This could be a case where I'll just jailbreak the coin and enjoy it for what it is. I like it.

But...am I doing it an injustice? What if it might grade a 65 when submitted to PCGE or NGC? A collector would love it, and they achieve $2,500 at auction.

Would you take that risk? I couldn't possibly offer my opinion as to a grade, I don't grade coins.

@GoldDiggerDave, worth a punt?

Any pre-33 collectors like to join in?

Edited August 30, 2023 by Roy

[dicker]

Hi Roy

I have only ever seen a couple of coins graded by NTC.  They stand out as you just don’t see NTC graded coins a great deal.

So I think two options:

- Jailbreak for a quick sale

- Leave as is and achieve a slower but slightly higher price.

Personally, I wouldn’t re-grade it.  NTC might not be as reliable as ANACS, NGC or PCGS - I suspect the only way is down In terms of grade.

Best

Dicker

[stefffana]

Hi, Roy!

I think a pre-sale with very clear T&C would fit perfectly your needs. If you have pictures with all your coins, you can start from now. I am sure that until October you will have enough visibility and mostly all of your coins will find a new house.

I would avoid the "Flash" auctions, especially if your coins are slabbed. In only few hours I doubt you will have audience. I have done this before, but this type of auctions is only suitable for low premium stuffs, starting from spot price.

If you will still have some unsold coins after October, you can lower a little your asking price and sell them as "Buy the coin, not the grade!". @Darr3nG did this before with good results.

I am looking forward to see what do you have! 

Cheers!

Stefan.🤗

 

 

[Leonmarsh]

What you selling @Roy any belters ?

 

[Roy]

They're all belters mate, you know that 😉

I've actually been given a partial lifeline by a good pal of mine with his kind offer of space in his home safe. He's ok with a NGC box, so I only need to sell up to 10.

Of course, this will be the 'less loved' items that I hold.

I'm going to list some small coins first that might tempt those who don't yet hold but are intrigued with the whole graded coin concept. The big coins have a reprieve!