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- - Liquidating Numis with dealer? Avg. Deal (http://goldismoney.info/forums/showthread.php?t=417491)

panamagold | 10-21-2009 10:54 AM
Liquidating Numis with dealer? Avg. Deal Wanted to know what kind of prices a fair dealer would give on Numi coins. Are dealers happy to take these off of a person's hands? Or will they give you a fraction of the Numi value? if so, what's the range like? 10% 50% 70% of Numi? PG

Professur | 10-21-2009 11:01 AM
Re: Liquidating Numis with dealer? Avg. Deal Depends highly on their liquidity. A 'dealer' wants to move them at a profit. Every coin he buys is overhead for him. A more common coin that he can turn over quickly is more desirable than a sure rarity that may take years to move. The longer the time, the more profit he has to make off the initial purchase to cover. Selling to a collector, however, is more ideal.

Cassandra | 10-21-2009 11:02 AM
Re: Liquidating Numis with dealer? Avg. Deal You'd be better off at a coin store IMO, who will likely also give you a fair price for bullion and jewelry too. None in your area?

panamagold | 10-21-2009 11:06 AM
Re: Liquidating Numis with dealer? Avg. Deal Thanks for the quick response guys/gals. I'm looking for an idea of how difficult it would be to liquidate if the time where to come. I'm trying to figure how much I should spend on bullion vs. numis. Each seems to have an advantage. With the potential for gold to pull back I thought numis might be a good hedge/option. However, I do know that premium is pretty subjective. I know of 2 coin dealers in town, not sure what's meant by a coin store. PG

Professur | 10-21-2009 11:15 AM
Re: Liquidating Numis with dealer? Avg. Deal Numis is a luxury item. Their 'rush' value is zip. Their 'SHTF value ... zip.

panamagold | 10-21-2009 11:19 AM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by Professur (Post 1984139) Numis is a luxury item. Their 'rush' value is zip. Their 'SHTF value ... zip.
I guess you're a bullion type of guy... PG

Barrettone | 10-21-2009 12:21 PM
Re: Liquidating Numis with dealer? Avg. Deal I buy a lot of 90% "junk", and sort it. Every now and then, I find a good numi coin. I take it to the coin show, and usually get about 60% of what the "Red Book" shows it as being worth (in its true condition). I then just exchange it for bullion as I consider it "found money". The red coin book is usually high IMO, as dealers usually sell the coins for about 80% of what the book says the value is. It is just like baseball cards...they inflate the value in "the book". Found a 1895(o) Barber Dime last week. It booked at $360 in G-4. I got $200 in bullion exchange...not bad IMO. My .02 YMMV

Professur | 10-21-2009 12:31 PM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by panamagold (Post 1984148) I guess you're a bullion type of guy... PG
No, I've got some numis .... but I don't consider them an investment or hedge. They're collectibles, because I like them. I might be able to sell them, but I'm not betting on it.

CoinHunter53562 | 10-21-2009 12:33 PM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by Professur (Post 1984114) Depends highly on their liquidity. A 'dealer' wants to move them at a profit. Every coin he buys is overhead for him. A more common coin that he can turn over quickly is more desirable than a sure rarity that may take years to move. The longer the time, the more profit he has to make off the initial purchase to cover. Selling to a collector, however, is more ideal.
Very well put. Our shop will pay much higher percentages for items we know we can move quickly. For stuff that may sit for weeks, months, or longer, the percentage of greysheet is lower. There's no exact answer to give, and it will depend on a dealer's customer base. With any business, cash flow is a huge deal, so the value of the coin along with the potential turnover will factor in. Someone might have a stunning MS-66 Carson City coin worth $15K, but the average collector coming into the shop is not in the market for that. A dealer may try holding it in their inventory for a month or so before sending it off to the auction house. Both have costs associated with it, and either way a chunk of cash is tied up. So, you're best bet is to sell to another collector as mentioned. Coin shops/dealers have to make money on nearly every transaction to stay afloat.

CoinHunter53562 | 10-21-2009 12:35 PM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by Professur (Post 1984139) Numis is a luxury item. Their 'rush' value is zip. Their 'SHTF value ... zip.
Numis have their place, but you're 100% right. In a SHTF scenario, the value of the coin will be the intrinsic value. For my own personal collection, I have a mix of numis and bullion because I like both. For our coin shop, we are heavy on the bullion side, and a bit light on the numis side. That's because we know we can move bullion quickly in a good economy or bad economy. The beauty of being in the business is that it can be profitable (with smart buying obviously) in a good economy or a bad economy.

panamagold | 10-21-2009 12:47 PM
Re: Liquidating Numis with dealer? Avg. Deal My thoughts would be numis would be reduced to bullion in SHTF scenario. How about the bad economy scenario we're in now? Meaning it's not armageddon, but it's pretty S'ty. My concern is this, gold is at 1050, I buy it. Monetary policy turns around and shrinks money supply increasing the dollars buying strength. Gold goes to 500. What's better to hold in that scenario. Realistic or not... PG

hydro | 10-21-2009 01:46 PM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by panamagold (Post 1984245) My thoughts would be numis would be reduced to bullion in SHTF scenario. How about the bad economy scenario we're in now? Meaning it's not armageddon, but it's pretty S'ty. My concern is this, gold is at 1050, I buy it. Monetary policy turns around and shrinks money supply increasing the dollars buying strength. Gold goes to 500. What's better to hold in that scenario. Realistic or not... PG
Diversify now. When gold goes to $500.00, buy more!

Jekyll7 | 10-22-2009 01:53 AM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by Professur (Post 1984216) No, I've got some numis .... but I don't consider them an investment or hedge. They're collectibles, because I like them. I might be able to sell them, but I'm not betting on it.
Both the US and Canada have sophisticated and mature numi-markets, for material that is truly desirable. So long as the world isn't on fire, there will be buyers for the nicer stuff. For anyone who is afraid that numismatics are going to become worthless, I'll straight trade an oz of Au for your VF 1916D Merc, or your VF Canadian 1893 round-top 10 cent...

Roadgold | 10-22-2009 02:17 AM
Re: Liquidating Numis with dealer? Avg. Deal most of my local dealers will tell you it is just silver or gold and put it on a scale

Martian_Time_slip | 10-22-2009 08:49 AM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by Roadgold (Post 1985473) most of my local dealers will tell you it is just silver or gold and put it on a scale
But when they resell it, that premium will be back plus some.

CoinHunter53562 | 10-22-2009 09:35 AM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by Roadgold (Post 1985473) most of my local dealers will tell you it is just silver or gold and put it on a scale
Some do operate that way. One guy I bought some silver from on Craigslist last year told me how one of the local dealers offered him the going 90% rate on some BU quarters. So the guy told the dealer "Tell you what, I'll go home and beat these with a hammer and then come back...you know, since they're only worth the junk silver rate." I guess the dealer got embarassed and so "no, no dont do that". Our shop is small and not super busy yet, so we try to take the time to go through and pick out the semi-key and key dates and set those aside for a better offer from the common stuff. Maybe being too honest will be a crimp on profits, but I'd rather do that than to knowlingly rip people off.

ME CO | 10-22-2009 09:52 AM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by Barrettone (Post 1984203) I buy a lot of 90% "junk", and sort it. Every now and then, I find a good numi coin. I take it to the coin show, and usually get about 60% of what the "Red Book" shows it as being worth (in its true condition). I then just exchange it for bullion as I consider it "found money". The red coin book is usually high IMO, as dealers usually sell the coins for about 80% of what the book says the value is. It is just like baseball cards...they inflate the value in "the book". Found a 1895(o) Barber Dime last week. It booked at $360 in G-4. I got $200 in bullion exchange...not bad IMO. My .02 YMMV
I do the same thing only I don't buy bags, anything I find CRH that is worth more than the silver in it I try to turn. Its all part of my Hobo investment strategy. On another board a guy found a 1916D Merc dime in a bag out of a coin counter, lucky bastage haha. His question was "Do I sell it or keep it"? His local coin guy told him noone would buy it till it was authenticated and slabbed. He said there are a million people with one of them in they're collections even though the actual mintage was only 1/4 of that. Last I heard he sent it to PCGS and it came back graded Good 58, he probly still has it- ME I would have turned it into bullion. HH Mark

FFL | 10-22-2009 10:10 AM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by Roadgold (Post 1985473) most of my local dealers will tell you it is just silver or gold and put it on a scale
This is exactly what I experienced last time I got a price quote on some numi's with some of my local dealers. I advise people wanted to sell numis to sell on ebay. We usually get around 30% over spot.

I Am Sparticus | 10-22-2009 12:10 PM
Re: Liquidating Numis with dealer? Avg. Deal Many dealers use the "Grey Sheet" guide for wholesale pricing. Ask for Grey Sheet Value, or a little less. Good Luck Sparticus

Barrettone | 10-22-2009 12:27 PM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by ME CO (Post 1985774) I do the same thing only I don't buy bags, anything I find CRH that is worth more than the silver in it I try to turn. Its all part of my Hobo investment strategy. On another board a guy found a 1916D Merc dime in a bag out of a coin counter, lucky bastage haha. His question was "Do I sell it or keep it"? His local coin guy told him noone would buy it till it was authenticated and slabbed. He said there are a million people with one of them in they're collections even though the actual mintage was only 1/4 of that. Last I heard he sent it to PCGS and it came back graded Good 58, he probly still has it- ME I would have turned it into bullion. HH Mark
I agree ME CO...bags don't really yeild anything (too picked-over already). I frequent flea markets, yard sales and pawn shops for my 90% purchanses. They tend to have more key dates in them, as the people selling them are not as well versed in numismatics IMHO. :565:

CoinHunter53562 | 10-22-2009 02:04 PM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by I Am Sparticus (Post 1985975) Many dealers use the "Grey Sheet" guide for wholesale pricing. Ask for Grey Sheet Value, or a little less. Good Luck Sparticus
Greysheet is dealer to dealer wholesale pricing. Dealers around here will ask customers who bring those in and ask for that as a guide where they deal, where their shop is etc. I dont know many dealers that will give full greysheet bid to the general public unless they have a customer lined up that will buy said product right away. Most seem to pay roughly 20% below greysheet around here, but sometimes more and sometimes less. I heard a dealer quote a customer 50% of bid because a seated Liberty dollar listed at $500 bid would be hard to move (coin was in EF condition). The dealer figured the coin would sit in inventory for a long time, so he had to make an offer accordingly.

ME CO | 10-22-2009 04:37 PM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by Barrettone (Post 1985996) I agree ME CO...bags don't really yeild anything (too picked-over already). I frequent flea markets, yard sales and pawn shops for my 90% purchanses. They tend to have more key dates in them, as the people selling them are not as well versed in numismatics IMHO. :565:
Yea I agree. I have a standing order at my banks to buy junk silver at what the best coin shop in town will pay. So far everybody is holdin but they will turn loose eventually and I may get some numi's that way. My dad has 2 $500fv bags, one dimes and one quarters, we spent an evening sorting out the mercs and a few Barbers from the dimes and the Standing Liberties from the Washingtons. Didn't look for keys (didn't know what to look for) but baggied them up and put them back in the bags- will look for keys on a cold winter day. HH Mark

HistoryStudent | 10-22-2009 05:28 PM
Re: Liquidating Numis with dealer? Avg. Deal My 85 year old AUNTIE wanted to buy some gold coins. She remembered the SAINTS as a KID; and somehow KNEW about the two slabbers NGC/PCGS. She asked me where to BUY NGC or PCGS Saints in MS63 to MS65s. Gee, I wonder why? :ok::biggrin:

hydro | 10-22-2009 06:05 PM
Re: Liquidating Numis with dealer? Avg. Deal Quote:
Originally Posted by HistoryStudent (Post 1986434) My 85 year old AUNTIE wanted to buy some gold coins. She remembered the SAINTS as a KID; and somehow KNEW about the two slabbers NGC/PCGS. She asked me where to BUY NGC or PCGS Saints in MS63 to MS65s. Gee, I wonder why? :ok::biggrin:
Maybe Auntie is getting you something nice for Christmas! :s9:

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