Time to Liquidate my collection(s)

[Dozer D]

Due to economic financial pressures, fixed soc sec income, and rising costs of everything I find that it is now increasing important to start liquidating my coin collections while I still can. I will begin with the most obvious non-profitable & non-collectibles to most, such as: 2009-Dimes(P&D), 2017-P cents, the hoarded thousands & thousands of copper cents 1959-1981(to keep only the best AU-BU pieces), NIFC halves, 2009 P&D cents(all 4-varieties) to keep only the best BU rolls/boxes that were acquired when they first came out,
My question to most of you CRH's is, do I SAVE or DUMP above items and move on. My next step will most likely be the silver stacks, then the old collections, .............etc.
Need your opinions & output.

 

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[CardsNCoins]

Wouldn't hurt to try putting it on Craigslist for 20% over face.

Did find a "Sold" listing of $50 Face going for $89 (including shipping). Not sure what the net is after shipping and fees. Might not be worth the trouble.
https://www.ebay.com/itm/5000-COPPE...HIPPING-POOR-MANS-GOLD-CLOTH-BAG/173859534048

Depending on shipping method used (flat rate bubble mailer for $7.55 or medium flat rate box for $12.80) the eBay seller linked above made either $14.41 or $19.66 after all fees and shipping costs.

In the worst case scenario where he only made $14.41, that's still almost a 29% profit on $50 face.

That seller sold two lots, bu they were to the same buyer, so it's a very small sample size (or an anomaly), so don't buy that yacht just yet.

 

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[Diver_Down]

Depending on shipping method used (flat rate bubble mailer for $7.55 or medium flat rate box for $12.80) the eBay seller linked above made either $14.41 or $19.66 after all fees and shipping costs.

In the worst case scenario where he only made $14.41, that's still almost a 29% profit on $50 face.

That seller sold two lots, bu they were to the same buyer, so it's a very small sample size (or an anomaly), so don't buy that yacht just yet.

Folks also need to keep in mind that for the $15 in profit, they still have to deal with the customer service aspect. $50 FV is two bricks of cents. That is a heavy parcel in cardboard. If that box is damaged and their is content loss, some think that the buyer is responsible for filing a claim with USPS. Wrong. eBay doesn't give a crap, they will side with the buyer for the BIN price of $89. The seller can try to file a claim, but good luck.

The truth is the margin is so small and when you factor in the time it takes to create the listing with photos, deal with customers, potential claim/refund, etc. most will come to the conclusion that it isn't worth it. I would advise to find a local buyer via Craigslist, Letgo, OfferUp, etc. If no interest, then dump them.

 

[Professor of Engineering]

I hope your situation gets better in the near future.

 

[barneyb71]

If you or any of your kids are on FB, you can put them on the market place there. I had cross country skis in my shed from the previous owner. I was going to put them out to the curb but listed them on the market, $100 or best offer, had a lady offer me $60 in less then an hour. Sold and picked up with in 3 hours. No fees, no problems, but with coins, you might want to meet them out and not at your house. Just a thought.

 

[jrf30]

"I got most of them for face value , and I can get $5. a piece for them"

Seems 11X is a good price to get. That's $5.50 per 1964 or older half. Don't sell them at $5 if you can get $5.50. hey, 10% more is 10% more. :-)

I've been buying silver lately at 11X. ANd been outbid lately on some lots. So yes, you should be able to get that.

But if you really only want to get $5 each .... let the board know. I bet numerous here would be buyers. :-)

 

[Diver_Down]

If you or any of your kids are on FB, you can put them on the market place there. I had cross country skis in my shed from the previous owner. I was going to put them out to the curb but listed them on the market, $100 or best offer, had a lady offer me $60 in less then an hour. Sold and picked up with in 3 hours. No fees, no problems, but with coins, you might want to meet them out and not at your house. Just a thought.

FB doesn't allow the sale of coins. I can only guess because of counterfeits. I have tried selling even local tokens and the listings are flagged. Another minor grievance is that you can't sell bottles. They make the presumption that every bottle has had contained alcohol at some time and the sale of alcohol is prohibited. Doesn't matter if you are selling a Coke bottle, Milk bottle, apothecary bottle. They flag every listing.

 

[Dozer D]

Thought just come to me. Does the IRS get their fingers involved when it comes to large sale of collections ( I.e. anything over a given amount ), just like the reportable limits at the casino, over $1199., then a W-G tax form.

 

[ArkieBassMan]

Thought just come to me. Does the IRS get their fingers involved when it comes to large sale of collections ( I.e. anything over a given amount ), just like the reportable limits at the casino, over $1199., then a W-G tax form.

If you sell to any of the major metal exchanges or any business for that matter, I have no doubt that there is an amount that will trigger a 1099 or whatever the appropriate tax form is called. I have no idea what those amounts are.

Regardless, ALL income is taxable and is supposed to be reported as such to the IRS.

 

[TheWalrus]

I also second the scouting programs on the NIFC coins. If you are going to dump them most troops would be glad to pick them up at face to use for the badges.

 

[A2coins]

Good luck hope all goes well