How to sell a valuable coin?

[Sharecropper]

Hi folks. I’ve been lurking on here for several years. Been MDing for over 40 years. Currently using a 3030 and love it.
Now my question - suppose I recovered a very valuable coin. I mean a really, really valuable coin in great condition. A life-changing coin. And suppose I recovered it on my property. What would be the correct way to sell it? Now, I’m not ready yet to say I have recovered such a coin, but suppose I have. I would imagine everybody and their brother would try to purchase it at a bargain in order to flip it for a profit. Or worse yet, steal it. But what would be the best way to sell the coin and realize the maximum profit and keep everything legal and above board. Are there coin “brokers” out there who specialize in such transactions?

Please, serious replies only.

 

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[Force_of_Iron]

Put it in an auction of course. There is no better way IMO.

However, if you know someone who would pay a fair price cash it would be worth it to sell at a discount.

 

[smokeythecat]

Have it insured, keep it in a safe deposit box until you are ready to do something. I would have it graded for sure, I like PCGS best. Then consult a tax attorney to see if there is a tax to be paid, government wants everything these days. Then find a highly renown auction house that specialized in coins would be the way to go.

If the coin was in the ground, the grading service will send back with something like "genuine - environmental damage" with no grade. If you sign up with them they will send you info on coin auctions. The other two services are similar, NGC and ANACS.

 

[Mackaydon]

I'd invite both Stacks Bowers and Heritage Auctions to give you an offer after they see the coin--prior to it going to public auction. Then again, if it is a coin from another country, I might have a different opinion.
Don.....

 

[l.cutler]

Heritage auctions, if they deem it worthy they will have it certified and handle the sale.

 

[Diver_Down]

Heritage auctions, if they deem it worthy they will have it certified and handle the sale.

To add, if it was dug as the OP outlines in their post, the coin will need to be professionally conserved/certified. PCGS does not offer conservation services that I'm aware of. NGC offers conservation services (NCS) where after the coin is conserved, it is then certified in a NGC Holder. After paying for the services (tacked on to the consignment fees), Heritage would list it in one of their major coin auctions. A truly rare coin is typically bought by brokers on behalf of buyers to protect their identity.

 

[smokeythecat]

And the coin services charge a percentage, not so much a flat fee on a graded coin.

 

[PetesPockets55]

Great collections have their share of fans because of doing a lot for the owner, like having a coin slabbed, quick sales and competitive fees.
Fewer trips in transit reduces the chances of being lost. Plus they will take pieces for less than $5000 in total value. I believe HA still has that threshold.

 

[Mackaydon]

The obvious: If you ship it, insure it.
Don.....

 

[Twitch]

First step is to validate what you have. 99+% of people who think they have a life changing coin don’t actually have what they think they have. Not saying you aren’t in the 1%, just trying to help. Take your coin to a local coin store or coin club and get a couple opinions. Do not let it out of your sight, just in case tou’re Right.

 

[sandmartin]

Sharecropper, as you have already approached this subject here, can you not say what coin might have been found, i'm sure we would all like to know.

 

[Dozer D]

So what is this so called valuable coin that you are just wanting to tell us about. Now that you have our attention, give us the entire story, we want to hear about your good luck.

 

[mike b]

I don't do serious so I won't reply.

 

[Tpmetal]

If the coin was in the ground, the grading service will send back with something like "genuine - environmental damage" with no grade. If you sign up with them they will send you info on coin auctions. The other two services are similar, NGC and ANACS.

Not necessarily. This is why I only wash my silver coins off with distilled water, no rubbing. I have a 1921d merc that I dug and went through grading with no label of environmental damage. A copper coin or silver in water or certain soils, I understand there seems to be no way to avoid it

 

[smokeythecat]

No additional information from the original poster, so perhaps it's time to move to something else more interesting.

 

[Sharecropper]

Everyone, thanks for the extremely useful information. I need to stay quiet for a while. I will be back in touch.

 

[sandmartin]

something's not adding up.....

 

[PetesPockets55]

Sounds like they are being prudent and possibly getting more accurate info to share.
At least they didn't abandon the thread like some posters.

Personally looking forward to updated info when they feel comfortable.

 

[Force_of_Iron]

I think his avatar tells us he doesn't mind to keep us waiting in suspense

 

[Dozer D]

Probably not much, just a BU 1909-S-vdb cent, and a BU 1916-D dime, found in his couch.