How to sell a valuable coin?
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  1. #1
    us
    Feb 2009
    44
    41 times

    How to sell a valuable coin?

    Hi folks. Iíve 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, Iím 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 ďbrokersĒ out there who specialize in such transactions?

    Please, serious replies only.
    flashyace and PetesPockets55 like this.

  2. #2
    Charter Member

    Aug 2019
    Formerly Ohio, now south
    94
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    All Types Of Treasure Hunting
    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.

  3. #3
    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.
    rook3434 and Sharecropper like this.

  4. #4
    Charter Member
    us
    An unidentified coin is a piece of metal. An identified coin is a piece of history.

    Oct 2004
    N. San Diego area (Pic of my two best 'finds'; son and grandson)
    Minelab Explorer
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    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.....
    Sharecropper likes this.

  5. #5
    us
    Dec 2006
    NEPA
    Tejon, Cibola, T2
    2,121
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    Heritage auctions, if they deem it worthy they will have it certified and handle the sale.
    Sharecropper likes this.

  6. #6
    Charter Member
    us
    Dec 2008
    St. Augustine, FL
    4,104
    1638 times
    Quote Originally Posted by l.cutler View Post
    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.

  7. #7
    And the coin services charge a percentage, not so much a flat fee on a graded coin.

  8. #8
    us
    Wood Butcher

    Apr 2013
    Indian River Co., Fl
    473
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    All Types Of Treasure Hunting
    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.
    Sharecropper likes this.

  9. #9
    Charter Member
    us
    An unidentified coin is a piece of metal. An identified coin is a piece of history.

    Oct 2004
    N. San Diego area (Pic of my two best 'finds'; son and grandson)
    Minelab Explorer
    19,468
    12579 times
    Shipwrecks
    Honorable Mentions (2)
    The obvious: If you ship it, insure it.
    Don.....

  10. #10
    us
    Feb 2010
    Missouri
    2,632
    1767 times
    First step is to validate what you have. 99+% of people who think they have a life changing coin donít actually have what they think they have. Not saying you arenít 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 touíre Right.

  11. #11
    gb
    Paul Martin

    Feb 2015
    Scarborough, England
    Minelab Equinox 600, Nokta Pulse Dive pointer
    214
    191 times
    Beach and Shallow Water Hunting
    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.
    PetesPockets55 likes this.

  12. #12
    us
    Feb 2012
    2,949
    2557 times
    Coin roll hunting

    How to sell a valuable coin?

    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.
    PetesPockets55, RTR and sandmartin like this.

  13. #13
    us
    Sep 2012
    STATEN ISLAND NY
    ONLY MINELABS, and now one Detector Pro Underwater. Macro Multi Kruzer
    162
    723 times
    Beach and Shallow Water Hunting
    I don't do serious so I won't reply.

  14. #14
    us
    Jan 2017
    Western ny
    equinox 800, Whites mx sport, Garrot carrot, bounty hunter time ranger
    3,174
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    All Types Of Treasure Hunting
    Quote Originally Posted by smokeythecat View Post

    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
    PetesPockets55 likes this.

  15. #15
    No additional information from the original poster, so perhaps it's time to move to something else more interesting.
    PetesPockets55 likes this.

 

 
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