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Author Topic: Coin World Advice to reader looking to sell coins not totally complete  (Read 5193 times)
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« on: March 15, 2010, 10:52:54 AM »

An individual wrote into CW asking for advice on what to do with their father’s coins.  In the letter, it states that the dad bought coins from the Morgan Mint and other mail order firms

The advice, IMO, was sound in some areas but lacking in others.  The advice was to organize and list and then consult CW’s classifieds for dealers looking to buy and contact local dealers.  Not so bad.  In also said to review items in a pricing book (coin values).  This is good and bad.  At least they would know what may be worth more than others but CV is notoriously overvalued, even for retail.  The advisor also said to check ebay prices.

The responder to the letter does say, “Know in advance, too, that any offer made by a dealer will probably be less than the retail value”.  Probably?  Um, like most certainly will be less than the prices seen in Coin Values.

The adviser also stated that these Mail Order coins have at least silver bullion value.  Do you know any dealers that are offering full bullion value junk silver coins?
The advice to the reader also left out the fact that all this stuff bought from “mail order” firms was likely purchased for high amounts well over retail and that some dealers will likely not be interested in that type of material and to not take it personally.

Anyway, I thought I would share
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AdamL
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« Reply #1 on: March 15, 2010, 12:45:14 PM »

Good points. CoinValues has great articles, but they are indeed way high. Using that might give them an idea of what is valuable and whats not, like you said. But if they go by those values they'll never want to sell anything, because no dealer will ever offer them anything close to those prices.
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-Adam
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« Reply #2 on: March 15, 2010, 05:13:10 PM »

Boy could I tear into this subject.

Considering that a lot of this stuff was bought from the Morgan Mint the explanation could have been much easier. Prepare to be disappointed and insulted might work.
However, I can see how a publication would want to stay away from being so blunt.

One can look up values all day in publications and expect NOT to get that kind of money (or anywhere near it in most cases) and not just from shops but from ebay etc.

We see this all too often at work. Well, the book says it's value is XX. Fine, find a buyer at that price when WE don't sell them at that price.

I believe I'll have to expound upon this on the Life and Times thread.
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