Coin Shop Owner

[IdahoCopper]

I want to find a coin shop owner who wants to buy numi silver coins to sell in their shop at fair market value. I have coins I want to sell at the midpoint between melt and FMV. Is anyone on here open to that?

[barrytrot]

I almost busted out laughing when I read this

The FMV is not going to be near what a coin shop owner could AFFORD to pay and still stay in business.

If the coins are high end enough that "melt" is irrelevant THEN you have something that you can sell within 15% or so of RETAIL. Otherwise prepare for something hovering around "melt".

And it's only fair. You know that you couldn't possibly sell beef jerky for only 1.5 x "meet value". You would be out of business in a month.

[barrytrot]

Also low end "numi coins" have a spread that is WILDLY HIGH. So Fair market SELL VALUE and Fair market BUY VALUE are leagues apart anyway.

You will only get a good price if you sell them yourself either on eBay (crap shoot) or here and other free-selling venues.

[NDFarmer]

List a couple here for the price you want and see what happens. As Barry pointed out the dealers are going to low ball you and the Ebay fees will be even worse.

[IdahoCopper]

I almost busted out laughing when I read this

The FMV is not going to be near what a coin shop owner could AFFORD to pay and still stay in business.

If the coins are high end enough that "melt" is irrelevant THEN you have something that you can sell within 15% or so of RETAIL. Otherwise prepare for something hovering around "melt".

And it's only fair. You know that you couldn't possibly sell beef jerky for only 1.5 x "meet value". You would be out of business in a month.

It think you mis-read my post.

Lets say I have a numi silver coin worth $10 melt value. Its numi FMV according to the "Book" is $30. I want to sell it to a coin shop owner for $20. Then he sells it to his customer at the "Book" FMV price of $30. I make $10 over melt, and he makes $10 more than he paid.

[IdahoCopper]

List a couple here for the price you want and see what happens. As Barry pointed out the dealers are going to low ball you and the Ebay fees will be even worse.

Yes, I want to do that. My problem is I do not know enough to properly grade the coins to establish the true FMV. I posted pics of 2 nice looking coins, a Morgan and a '64 Washington, hoping for some grading advice. So far, 84 views with no advice posted.

[Country]

I want to find a coin shop owner who wants to buy numi silver coins to sell in their shop at fair market value. I have coins I want to sell at the midpoint between melt and FMV. Is anyone on here open to that?

Why go through the hassle of a dealer? Do your selling here on RealCent, midway between melt and FMV for numi-SILVER. Experiment with a few coins to see if they really have any numi-value.

I don't think a 1964 quarter has any numi-value, ordinary Morgan's only slightly so. What else are you considering for sale that has numi-value?

[beauanderos]

The only way a 1964 quarter will fetch more than melt is if you have a solid date roll of them, same mintmark, that are original... meaning blast white, high lustre, gem choice coins... not just some shiny ones that "looked good" that anyone can cherry pick from a group of circulated coins. And then you're only talking twenty to thirty percent above the selling point of avg circ, at most.

[NDFarmer]

Lets say I have a numi silver coin worth $10 melt value. Its numi FMV according to the "Book" is $30. I want to sell it to a coin shop owner for $20. Then he sells it to his customer at the "Book" FMV price of $30. I make $10 over melt, and he makes $10 more than he paid.

Figure out what price you want and list it. If your happy with $20.00 I would rather pay you $20.00 than pay the coin shop $30.00

You know what happens when selling numi coins. You as the seller are going to think it is a great looking coin and me as the buyer is going to think it is a grade or two below where you put it at. I never look at the grade a seller puts on a coin when I go to an auction or even my local coin dealer. When you are buying numi coins you have to grade them yourself and be happy with the grade YOU as the buyer is putting on the coin.

[barrytrot]

I almost busted out laughing when I read this

The FMV is not going to be near what a coin shop owner could AFFORD to pay and still stay in business.

If the coins are high end enough that "melt" is irrelevant THEN you have something that you can sell within 15% or so of RETAIL. Otherwise prepare for something hovering around "melt".

And it's only fair. You know that you couldn't possibly sell beef jerky for only 1.5 x "meet value". You would be out of business in a month.

It think you mis-read my post.

Lets say I have a numi silver coin worth $10 melt value. Its numi FMV according to the "Book" is $30. I want to sell it to a coin shop owner for $20. Then he sells it to his customer at the "Book" FMV price of $30. I make $10 over melt, and he makes $10 more than he paid.

Nope, I didn't misread your post. I knew exactly what you were talking about.

No coin dealer is staying in business with that little markup on a LOW PRICE coin. A 50% markup or even 25% markup on a $1,000 coin -> SURE. But a 50% markup on a $30 coin -> No way.

There are fixed TIME COSTS in selling a coin and so the mark up on low-end "semi-numi" are high proportionally.

[IdahoCopper]

OK I'll keep the quarter. Thank you for the insights.

I have several rolls of uncirc dimes, all the same date and mint for each roll. They are in plastic tubes, not paper wrappers. I'll dig them out later today and scan a few.

For now, I need to go get the parts to fix the leak in the sprinkler system.

[Kurr]

List a couple here for the price you want and see what happens. As Barry pointed out the dealers are going to low ball you and the Ebay fees will be even worse.

Yes, I want to do that. My problem is I do not know enough to properly grade the coins to establish the true FMV. I posted pics of 2 nice looking coins, a Morgan and a '64 Washington, hoping for some grading advice. So far, 84 views with no advice posted.

Let's teach you to fish!

http://www.pcgs.com/Photograde/

Pick your type of coin, then compare pictures of the various grades. EASY way to get a GOOD idea of what your holdin.

[Market Harmony]

Having a store for 2+ years, I have never once been asked for a single quarter of a common year in uncirculated condition. And, if someone wants to have a nice Morgan, they typically want to pay much below the book value for a common coin. I never knew how common "common" coins were until I witnessed that the vast majority of bullion business is in junk silver... and that stuff can be found in the book for such and such price... but I don't know/have the buyers at that price.

The best bet is to sell it here on Realcent (Is there an echo in here?)

[barrytrot]

Having a store for 2+ years, I have never once been asked for a single quarter of a common year in uncirculated condition. And, if someone wants to have a nice Morgan, they typically want to pay much below the book value for a common coin. I never knew how common "common" coins were until I witnessed that the vast majority of bullion business is in junk silver... and that stuff can be found in the book for such and such price... but I don't know/have the buyers at that price.

The best bet is to sell it here on Realcent (Is there an echo in here?)

Quoted because of the succinct brilliance of this summary!

[ihavecoins]

Send me your list and Ill go through it. include the price you need for it. rod@ihavecoins.com

[fansubs_ca]

It think you mis-read my post.

Lets say I have a numi silver coin worth $10 melt value. Its numi FMV according to the "Book" is $30. I want to sell it to a coin shop owner for $20. Then he sells it to his customer at the "Book" FMV price of $30. I make $10 over melt, and he makes $10 more than he paid.

I think part of the problem is that there is a great deal of uncertanty about what
will or won't sell and when so any numismatic dealer has to figure in a fairly large
margin just to make up for the duds that don't move. So on a sinlge coin basis
it might look like their spread is gigantic, but over the entire inventory as a whole
the real average numbers end up not looking so good.

The same thing occurs with comic book dealers or pretty much any kind of
collectable.

Now if it was a brand new dealer that had little to no inventory to start out and
you were willing to let them sell your stuff on consignment (worst case they can
send anything that doesn't sell back to you) so they didn't have to risk any capital
your idea might work better. That is several "ifs" though.