- 01/24/2022
- Warren Mills
- Winter of 2022
Welcome to the Winter Edition of The Rare Coin Enthusiast
I want to first thank you all for helping us have a great year in 2021. We seemed to always be busy and it was hard to catch up but the people we assisted to acquire nice coins for their sets or bullion as an asset sleeve for their investment portfolios was very rewarding for us and them.
We especially were thankful to help many collectors maximize the profits on their collections. Coins can be sold anywhere at any time. The secret is to formulate a plan that allows you to get the most value for your coins. This plan can be set up by using a number of factors. The first is always to sell outright. We normally recommend this if the coins are very common, bullion related or just commercially graded certified coins. If, however, the coins were purchased when the grading services first started or a collector worked with a firm that actually cared about the quality they sold, then it’s a whole new animal. Other options for liquidation should be explored. One option is to send coins to the grading service for potential upgrades. A full point or even a plus grade can dramatically increase the value of a coin. We recently recommended regrading a Peace dollar for a customer. Current auction prices realized for 2021 showed a range of $1700-$3100. Our recommendation was to resubmit this coin which upgraded a full point. We were able to sell the coin for close to $30,000! Needless to say the customer was ecstatic. This leads us to another consideration for liquidation, that of consignment. We took the above coin on consignment rather than purchase it outright in the hopes that we could get more money for the consigner. In some instances, there may be an impasse where we feel a coin is worth 10 or 20% less than a client wants. In this case, if the coin has nice appeal and is strong for the grade, we will be happy to offer this option. Another choice is for us to assist a client with consignment to a major auction house. The value we offer is that we can get the consignor a reduced sellers fee, favorable auction placement and may even be able to work with the auction company writing up the coin, pointing out the great attributes of your coin. Probably the most important thing a client can do to maximize the value of their collection is to have it reviewed by Certified Acceptance Corporation, CAC approval. We like to recommend CAC, if the quality of the coin is nice enough because it can lead to a 10% or more increase in value in most cases for a mere $16 fee. Some of the most rewarding experiences we had in 2021 was the ability to help clients get more money for their coins by utilizing CAC for review. The flip side is hearing from customers that sold their coins and then saw the dealer send them to CAC and not get an extra penny more for them but the dealer made out like a bandit. Keep in mind, when you want to sell, it may behoove you to give RCNH a chance, it can only benefit you!