Wanted: Advice on Selling Morgan & Peace Dollars

[Junior]

Just looking for general advice.

I have mostly common Morgans (1878-1904, 1921) and common Peace (1921-1928, 1934-1935). The coin collection is “ungraded” professionally, but a true admirer and collector would have a sense of grade with each coin.

The advice I’m seeking: How and where to sell coins like these? Coin shops are generally offering ~55% of book value.

My grandfather collected these and was at study in grading coins. That’s why they are encapsulated like this…

Any advice would be helpful.

[Silverlocks]

You will likely get the best return by selling the coins on the secondary market.  However, folks won't take the grades at face value unless the coins have been graded professionally - NGC or PCGS.  You might want to find the ones that are at a grade where the catalogues suggest they're worth something significant, and get them graded.

Note that Ebay won't let you use sheldon grades on coins that haven't been professionally graded.

You could try selling them here, or perhaps on a relevant FB group.

[Junior]

Agreed on the grading aspect. At best I would just sell each one with generic descriptions i.e. ‘Uncirculated details’ and let the buyer decide for themselves if they like the coin and it’s eye appeal.

I just happened to choose one coin at random and it was this 1888 MS64. Just had a better look at the rest now and most are MS62-MS63. A few extremely fine, two that are very good. Most all common dates.

I might post some pics later on.

 

[Silverlocks]

26 minutes ago, Junior said:

Agreed on the grading aspect. At best I would just sell each one with generic descriptions i.e. ‘Uncirculated details’ and let the buyer decide for themselves if they like the coin and it’s eye appeal.

I just happened to choose one coin at random and it was this 1888 MS64. Just had a better look at the rest now and most are MS62-MS63. A few extremely fine, two that are very good. Most all common dates.

I might post some pics later on.

 

You can use a Sheldon grade anywhere but Ebay, but disclaim it as approximate.  In the UK I use UK grading conventions, but I don't know what would apply in Canada.  'Details' means something specific in grading circles (usually the coin has been cleaned), so don't use that unless you mean it. 

[Junior]

6 minutes ago, Silverlocks said:

'Details' means something specific in grading circles (usually the coin has been cleaned), so don't use that unless you mean it. 

Very true. Forgot about that. Perhaps as you say, listing them as 'approximate' grades would be best, but with a disclaimer to the buyer.

[Silverlocks]

18 minutes ago, Junior said:

Very true. Forgot about that. Perhaps as you say, listing them as 'approximate' grades would be best, but with a disclaimer to the buyer.

I like to use phrases like 'EF (AU-55 or thereabouts)'.