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I have an antique coin that belongs to my parents. They want me to sell it but it is very valuable and I am not comfortable doing it on Ebay for fear that it can be swapped for a fake and returned.
Any thoughts on the safest way to sell this coin? It is a Judaea Coin AD 66-70, certified. It is worth in the thousands but I am not completely sure of the value.
Do any of you personally know coin collectors that might have interest? I am totally willing to do a commission on it. It would be completely worth it to sell it safely.
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how do you know the value?
i see the highest Judea coin sold for 2300, but that was only one coin, the others are a lot lower.
https://goo.gl/trPYdU -
Yeah, this sounds like a minefield for several reasons.
–Selling for other people makes you their employee, even (especially) relatives
–People think their stuff is worth millions when it’s often pretty normal stuff
–People want you to sell but then dump ll their worry and concern on you, short circuiting your growing instinct for how to sell on eBay.So you have a cool coin. Do some research. As Ryanne said, the solds dont look to be all that big of a deal. A couple thousand is a good profit, but not out of this world. Your parents need to get a realistic idea what its worth.
People sell gold, jewelry, etc all day long on eBay without issue. If you think there’s a villain out there waiting to rip you off, then definitely dont sell on eBay.
Unless your parents give you carte blanche to sell without any expectations, dont do it.
Tell them to go to a local auction house and sell it there. Get out of that loop. -
Thank you both for your valuable input. As always very helpful.
My parents, who are the kindest most generous people I know, have no out of this world expectations and told me to get what I can for it. I just wanted to do the best I could for them since they have supported me and backed me up more than anyone else in all my projects over the years.
I have been selling with confidence on Ebay and even sold several coins already that were in the $50-60 range and have I have several more in my store right now. I don’t think there is a villain out there waiting to “get me” but I am not so naive to think that there is not one out there that might be willing to sell their soul for a quick buck. Based on the podcasts and some other people’s experiences here on the blog, I had some concerns with such an item. Hence my reason for posting here for some sound advice.
Thank you again for your input, I am very appreciative of all your hard work and leadership!
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Hello Sigilini,
Any time we as sellers venture into new territory there are inherent rewards and risks. When we venture into areas which can be of high value, sometimes the risks become greater especially if we do not have an expertise in a particular area or areas in which we wish to sell. Regardless of venue, it is important for us to empower ourselves with the knowledge, skill, and/or resources needed when selling in new areas. This may lead us to find out that one venue of sale is not appropriate while another is. When selling in high values areas (money, art, any kind of technology, cars, watches, etc.), it becomes especially important to become informed and to have safeguards in place to protect oneself against the possibility of fraud especially due to the fact that the previously mentioned areas are all notorious for fraudulent activity.
I would offer that before you consider selling the coin, you allow yourself the time to learn a little more about coin. In my very basic knowledge about coins, there are key markers on coins that are imprinted and then used for verification to prevent against fraud. The U.S. Department of Treasury (https://home.treasury.gov/) may be a place to start. They have a section on coins. After that, you may want to do some research online about high dollar value coins, selling of these coins, and safeguards available to protect against fraud.You may want to also look at major shopping channels who sell coins to see how they sell high dollar value coins and what safeguards they put into place.
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Thank you Adventure E for that very helpful suggestion. I completely agree with you and that is definitely sound advise. And thank you again, Jay.
The coin was certified by NGC (Numismatic Guaranty Corporation is a privately owned, international coin certification service based in Sarasota, Florida. It it has certified more than 35 million coins.) which cost about $500.00, I think is what my parents said.
We do have a robust coin market here in Los Angeles but not being an expert (yet!) I was worried about getting low balled (Like a lamb to slaughter if you will.)
So as you said, I will take my time and make sure I understand this better before diving in.
Thank you.
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When you have a high value item in a specific category, it is almost always best to send it to a reputable auction house and let them handle it. Try here:
They are as legit as it gets. Generally speaking you will get far more for your item and have much better security with the transaction.
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Yeah, Heritage Auction is the real deal. But remember that auctions is a whole process:
https://www.ha.com/heritage-auctions-eight-step-consignment-process.sThey also take up to 30% commission, plus fees even if the item doesnt sell.
I couldn’t actually find how much heritage charges.-
It will likely be in the 10%ish range with more profit for them on the backend with a buyer’s premium. Typically auction houses will also charge seller for catalog photography (if applicable) and an insurance fee based on the final hammer price, likely in the 1% to 1.5% range. Many times these things are negotiable, especially if you have something really, REALLY good.
There are multiple upsides to letting the big boys deal with it; much more secure, an extensive client list with deep pockets, a huge mailing/email list, worldwide reach and the means to get the item delivered safely, professional marketing campaigns, almost unquestioned credibility, etc.
Here is another place to contact to get a second opinion: https://www.pcgs.com/stacksbowers
And in the spirit of this week’s podcast theme – the only hitch in this giddy-up is there might be a minimum value they will accept. If not, send it in, get a check and Bob’s your uncle.
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Sigilini,
If your parents had the coin valued and paid $500 to do so, it would seem to me that this coin has some value and that maybe you may want to hold off selling this coin. Maybe even hold off selling it on ebay at all. If the money is not immediately needed, you may want to research auction houses as Incompetent Picker noted as well as other possible venues. I would offer that if the sale of this item is not an immediate need, you may want to schedule it into your time so as to avoid allowing it to distract you from your other selling responsibilities and goals. Maybe schedule an hour each day toward this coin so you stay focused on the rest of your inventory, your listings, your store and any other life activities that might be demanding your time. -
First let me say that you all are such amazing people. Truly!
And the last picture is a thank you.
I am going to check out all the leads you have given me and report back when this is moving so you can all share in the success.
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I have a bunch of old coins that my nana found while digging in the garden in New Brunswick, Canada back in the 1940s and 1950s but the coins are from I guess the 1700s and 1800s.
I’m kind of getting to the point where I’m ready to sell some of the things like this that I’ve inherited but what is stopping me is being leery of putting things like this on ebay for fear of weird buyers and, I guess, just doing the research.
I guess I have my own answer (just do the research).
But I’d be interested to know if the coins are a sort of a problem type of product to sell. I guess I have my own answer on that too and maybe I’ll just start by listing one and seeing how it goes.
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Good morning KatieScott, I have sold coins on Ebay and had no problem with that. But they are not super valuable (50.00-70.00 range). It helps to understand what you are selling because I certainly do not know, except that they happened to be marked as to their quality. The critical point it seems to me with a coin, is its condition. Here is link to my most expensive coin https://www.ebay.com/itm/162659833387 so that you can see what it looks like.
The coin I was talking about in this thread, the one pictured above, is now with the auction house that was recommended. They were really great in handling this and the coin will be auctioned in April. I was not comfortable selling it on Ebay because it is worth several thousand.
Hope this helps.
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