Selling Coins at Coin Shows

[CC-Hunter]

I plan on going to the Whitman Coin Expo in Baltimore this Spring and selling some of my coins, mostly slabbed and graded U.S. gold and silver numismatic coins. The values probably range from $100 up to $2,000 or so. No great rarities but several thousand dollars worth of coins altogether. I have sold some coins at the Whitman Expo before and done pretty well, but those were fairly specialized coins (colonial coppers, tokens and some foreign) so I was able to quickly narrow down the dealers who were the most interested.

For selling less specialized coins like U.S. silver and pre-33 gold, does anyone who has sold coins at big shows have any advice as to how to go about selling the coins and getting a decent price? Any recommended dealers? I guess I could just shop the coins to every dealer there, but with hundreds of dealers that doesn't seem to make sense.

Thanks

 

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[scruggs]

DON'T HAVE ANY EXPERIENCE IN SELLING THEM BUT I WISH YOU LUCK IN YOUR ENDEAVOR!!

 

[bill from lachine]

CC-Hunter,

Here's a link of fair prices dealers should pay for US coins in various grades...it might be worth to print it up and bring it along to the coin fair.

Coin Values Discovery

Regards + HH

Bill

 

[jerseyben]

This is a nearly impossible question to answer. I will do my best to offer you advice. The dealers will buy based on their specific needs. Obviously, you may want to sell niche coins to niche dealers, since they will likely already have a customer and knowledge base for that type of coin.

For common stuff, most dealers do buy based on greysheet pricing. No offense to Bill, above, but those prices are not accurate when dealing with dealers at a show.

Your best bet would be to figure out, in advance, what you want to get out of each coin (roughly). That way, you will know if the offer a dealer makes is even worth considering. Typically, there isn't much negotiation. Sometimes, you can trade, which can help along a flailing deal.

 

[bill from lachine]

CC-Hunter,

Here's another site which might be useful....

Morgan Dollars NumisMedia Price Guide-Good-MS60

 

[DeepseekerADS]

As a long time collector who attempted to sell a couple of coins at a show

a few years ago....

Good thing they're slabbed, hopefully PCGS. That keeps the grading of the coin on the straight up.

Prepare to be PO'd

I was. Didn't sell the coins.

 

[bill from lachine]

Folks,

Most dealers tend to low ball their offers.....case in point I bought a fairly complete collection of Canadian Large cents in pretty good condition on EBay many years ago.

There was a fairly active dealer advertising to buy Canadian coins, best prices, etc.....so I sent him some scans of the coins and asked for a quote on his buying prices.....

He stated that he was prepared to pay 25% of trends which is about 66% of catalog price so in other words approx 16.5% of catalog value....if you can swing it much better to cut out the dealer and sell directly to collectors.

Regards + HH

Bill

 

[huntsman53]

I agree with the others that advised to prepare for low ball offers! Dealers at Coin Shows and especially the bigger Coin Shows, likely pay $150 to $200 or more per table and they have to low ball folks selling coins and sell high to buyers to make a profit. Some very seldom make a profit but set up at the Coin Shows to do Dealer trades and sells as well as catch a good deal or some rarities from unknowledgeable sellers. Some folks that walk the floors make "For Sale" advertisement sheets and wear them on their' front and sometimes their' back. However, this will P.O. some or all of the Dealers who pay for their' tables and is not allowed at some Coin Shows! The best strategy is probably to visit a lot of Dealer's tables and talk to a lot of folks that walk the floors and make sure that as many folks as possible know that you are interested in selling some coins. This seems to work quite often and you and any potential buyers can retreat to an area of the Coin Show without Dealer Tables such as a Concession where you can show them the coins and discuss/negotiate prices. Also, some Coin Shows also have Auctions and you may be able to put some of your' coins in the Auction.

Good luck!


Frank

 

[Trezurehunter]

Sorry I don't sell mine. If I did, there is a local dealer that I would use. You will get a better price from a local dealer if you have been a customer all along. Dealers at shows will low ball you real bad, because they figure they will never see you again. Of course the choice is yours as to sell your coins or not.

 

[CC-Hunter]

Thanks for all the advice. Looks like I might be better off just selling on ebay, even with the 13% fees. I like going to the Whitman show anyway, so I may take a grey sheet to the show and feel a few dealers out for offers and see where they land.