Best way to sell a gold coin collection?
August 13, 2013 10:12 AM Subscribe
My elderly father has spent all of his savings in recent months – around $200,000 – buying expensive coins. Most are gold, some are silver and platinum. Some are bullion; most are old and "rare." His collection was fun and interesting for a while, but now it has become a source of stress to him. He has no money left in the bank, and has decided he doesn’t want to keep the coins. It looks like Dad was skillfully played by slick sales reps, but I haven’t seen evidence yet that he has been defrauded. He has asked me to sell the coins for him. What’s the best way to sell a bunch of expensive coins?
posted by spockmuppet to grab bag (13 answers total) 5 users marked this as a favorite
There are several lessons to be learned here, but my question is not about the wisdom of buying valuable coins or the best way invest in them. That is over. The question now is how best to sell them. The dealer he bought them from is not interested in buying them back.
I am looking for resources and advice on how best to sell dozens of assorted collectible gold, silver, and platinum silver coins for him. Most are graded, certified, slabbed coins. Some are “raw.” My eBay seller score is around 200, with 100% positive feedback. Would I likely net more for him on eBay than by selling these to dealers? What’s the best process for working with local or distant dealers? Any recommendations for specific dealers to contact, or how to find out a dealer’s reputation? Online valuation services?