best way to sell coins?

[Isayhello2u]

I'm sure other people have asked this and if they have please post a link to the answers.

A friend of mine Having health problems needs to raise money.
not able to travel etc. he is thinking of selling off his coin collection via internet.

being an avid collector for over 50 years he knows what his collection is worth.

but what would be the best way through the internet to carefully liquidate his collection. should he try ebay or do you know some other site? or online dealer?

any suggestions will be helpful thanks

 

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[djui5]

e-bay is good. I know some guys who buy large collections. Also, if it's worth over $100,000 or so, you can use Heritage Auctions. They're great at handling things like that.

 

[1320]

If he has collected for 50 years and knows what his collection is worth, the answer is AUCTION! Online auctions are great. "Hometown" auctions advertised in the hometown newspaper, even better.

A "dealer" should be filed away in the wholesale category...he/she has to make a profit, your friend will leave money on the table.

If your friend chooses ebay as the outlet and has limited feedback (or none) in regard to buying or selling coins, even more money could be left on he table. If ebay is the method of choice, your friend would be best served not mentioning his health condition and/or appearing desperate to sell his collection....ebay will tell you, potential buyers will shy away from those descriptions.

Cudo's to you for helping your friend, you lead by example.

Jamie

 

[Isayhello2u]

thanks for the feedback one more question
would he do better to sell each coin seperate or grouped together with similar coins

 

[djui5]

It depends, though usually when a person buys an entire lot of coins they want a discount for buying "in bulk". The downside is that if you use a site like e-bay to sell them it costs you more, as you have to pay to list each coin.
If you sell the entire lot at an auction like Heritage, the bulk buy won't apply.

 

[gold fish]

I would suggest heritage as well, at least for the high-dollar stuff(by high dollar, I am referring to any good dates, especially if they are "slabbed", you won't get what you deserve on E-bay). But I agree with using a private auction for all the common dates. I went to an auction recently and saw common date silver wasington quarters go for $4 a piece.

 

[Jeffro]

i've been doing pretty good on Yahoo lately.

 

[djui5]

Really, on their auctions? If so I might list a coin I have.

 

[Jeffro]

Really, on their auctions? If so I might list a coin I have.

Yeah, its pretty much dealers dealing with dealers. Low traffic and decent prices, as long as you are selective. Some good buys on there.

As far as selling, you'll get more looks and bids on Ebay, probably.

 

[djui5]

ahh yes, don't think a dealer is going to pay $500 for an MS-64 1878 CC...