Advice on selling collection

Discussion in 'Silver' started by thedespatcher, Aug 20, 2019.

  1. thedespatcher

    thedespatcher Member

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    Hi All,

    I've posted previously just recently asking for advice on selling my collection, just needed to clarify my post. I've been collecting for a while but I've never sold anything before. I've been advised to stay away from Ebay and stores / dealers, it was also mentioned I could find buyers here on the site which I wasn't aware of previously.

    Obviously I'm not attempting to encourage any sort of illegal activity, but as I have no experience selling I am attempting to understand the laws around taxation, austrac reporting etc so I can fully comply with the law whilst at the same time sensibly and appropriately minimising the amount of unnecessary tax that I can legally avoid. I understand that austrac reporting is $5000 and "cumulative" however is this per year, month, lifetime etc?

    After perusing the site I can see auction style posts, which I'm wondering if this might be the best way to go as I'm unsure of the value of my collection. Obviously I can check the spot price for my bullion however I still have no idea of the actual numismatic value of the proofs and more unusual sets that I have.

    Should I just post them here auction style as I have no idea what to put on them aside from spot price? How does this work exactly? I just send the item registered post with signature required if somebody is interested? I'm sure most people are honest, but worst case scenario how do you guard against people potentially swapping fort a fake coin, saying you sent them a fake, tampering etc? Do you send the item first and just hope the person pays? what if they don't or the item is lost in the mail?

    I have gold and silver bullion, perth mint and uk mint sovereigns, lunar coins, PAMP platinum and palladium, many themed sets.
     
  2. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Easiest way is to sell at a dealer.
    Safest way is to sell here on forums.
    Just list your items and asking price or auction with reserve.
    The 5000 limit is per transaction, so typically applies within the day to the week.
     
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  3. Pendragon

    Pendragon Active Member

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    Auction is a good idea. You can also post a query for price advice go to this thread: https://www.silverstackers.com/forums/index.php?threads/the-price-check-thread.68073/

    As a new member you will be expected to post first. But you need to make sure that your buyer is an established member with a good reputation. See their trade feedback to determine that and make that condition clear in the auction or sale post. With other new members you can always sell using face to face.

    Best wishes
     
  4. Pendragon

    Pendragon Active Member

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    Does that $5000 limit apply to private sales? or just to dealers
     
  5. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Private sales are not recorded because there is no GST payable, but there is a 10,000 transaction limit on bank accounts that triggers an AUSTRAC notification. So if the private sales requires a bank deposit or withdrawal or transfer of amounts adding up to 10k or more it will be flagged.
     
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  6. Slimey

    Slimey Active Member

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    Just curious, what reference did you use when you bought the bullion/coins?
     
  7. dragafem

    dragafem Well-Known Member Silver Stacker

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    List what you have here with an expression on interest.I know most members dont like this but it seems that would be the way for you as you said you have no idea of value.You could get some good offers for interesting,rare items. Im sure anything would go for spot and If I were you I'd rather sell here than somewhere else.The choice is yours.
     
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  8. thedespatcher

    thedespatcher Member

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    Thank you, it is looking like here is the best option, plus I'm quite impressed with the knowledge and discussion that can't really be found anywhere else
     
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  9. thedespatcher

    thedespatcher Member

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    Thank you this sounds sensible, so if you deal with a seller with good reputation there is no problem posting first?
     
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  10. thedespatcher

    thedespatcher Member

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    Hi I'm sorry I'm not sure what you mean by "reference"? I bought most from Perth Mint or Royal Australian Mint, some from UK Mint, a few from shops so i wasn't using any sort of reference?
     
  11. thedespatcher

    thedespatcher Member

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    This might be a good idea too, there's quite a lot of stuff and I have no idea how to go about it really, this might work too
     
  12. 66rounds

    66rounds Well-Known Member Silver Stacker

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    If you click a users name you can see trader feedback. Click on that. The greater amount the safer to send first. As long as no negative feedback they're generally safe.

    Avoid sending first to new members. Either meet face to face or post after receiving funds.
     
    Last edited: Aug 21, 2019
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  13. thedespatcher

    thedespatcher Member

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    Beyond spot price I have no idea what this is really worth, and I'm looking to sell. Any interest from anybody?

    Australia 1954 1 Fl Florin Circ
    1966 50c Round 50c Circ
    1988 $10 Bicentenary Proof Coin Silver Proof
    1993 - Tomb of the Unknown Soldier
    1999 $1 The Last Anzacs One Dollar Fine Silver Proof Coin Silver Proof
    1999 $100 The Perth Mint Centenary Sovereign Gold & silver Proof
    1999 $1 The Australian Kookaburra Silver Bullion Coin Silver Proof
    1999 Set Masterpieces in Silver: Coins of the 20th Century Silver Proof
    1999 Set International Year of Older Persons 1999 Proof Coin Set Cupro Nickel & Aluminum Bronze Proof
    1999 50c Australian Lunar Silver Proof Coin Series: Year of the Rabbit Silver Proof
    1999 $2 Australian Lunar Silver Proof Coin Series: Year of the Rabbit Silver Proof
    1999 $1 Australian Lunar Silver Proof Coin Series: Year of the Rabbit Silver Proof
    2000 50c Australian Lunar Silver Proof Coin Series: Year of the Dragon Silver Proof
    2000 $1 The Australian Kookaburra Silver Bullion Coin Silver Proof
    2000 $5 Sydney 2000 Olympic Bronze Coin Collection (28 coins) Al-Zn-Bronze Unc
    2001 50c Australian Lunar Silver Proof Coin Series: Year of the Snake Silver Proof
    2001 $1 Centenary of Federation Holey Dollar & Dump Silver Proof
    2001 $1 The Australian Kookaburra Silver Bullion Coin Silver Proof
    2001 Set Centenary of Federation 6 Coin Proof Set Cupro Nickel & Aluminum Bronze Proof
    2001 Set Centenary of Federation Proof Coin Collection Silver Proof
    2002 50c Australian Lunar Silver Proof Coin Series: Year of the Horse Silver Proof
    2002 Set Year of the Outback 6 Coin Proof Set Cupro Nickel & Aluminum Bronze Proof
    2003 50c Australian Lunar Silver Proof Coin Series: Year of the Goat Silver Proof
    2004 50c Australian Lunar Silver Proof Coin Series: Year of the Monkey Silver Proof
    2004 $1 Eureka Stockade 150th Anniversary Silver Locket Coin Silver & gold Proof
    2004 $1 35th Anniversary of the first Moon Walk Silver Proof
    2005 50c Australian Lunar Silver Proof Coin Series: Year of the Rooster Silver Proof
    2005 $1 60th Anniversary of the End of World War II Silver Proof
    2005 $1 100 Years of Rotary Coin and Stamp Set Silver Proof
    2006 50c Australian Lunar Silver Proof Coin Series: Year of the Dog Silver Proof
    2006 $1 Australian Pre-Decimal Coins 2006 Silver Proof
    2006 $1 50 Years of Australian Television Silver Proof
    2007 50c Australian Lunar Silver Proof Coin Series: Year of the Pig Silver Proof
    2008 $1 Australian Lunar Silver Coin Series II: Year of the Mouse Silver Proof
    2008 $1 100 Years of Australia’s Original Coat of Arms Silver Proof
    2008 $1 200th Anniversary of the Rum Rebellion 1oz Holey Dollar and Dump Set Silver Proof
    2008 $1 HMAS Sydney II Coin, Medallion and Badge Set Silver Proof
    2009 $1 Australian Lunar Silver Coin Series II: Year of the Ox Silver Proof
    2009 $1 International Year of Astronomy 2009 Proof
    2009 55c Australia Post - 200 Years: Early Posting Box (Stamp-coin Set) Silver Proof
    2009 55c Australia Post - 200 Years: Home Delivery (Stamp-coin Set) Silver Proof
    2010 $1 Australian Lunar Silver Coin Series II: Year of the Tiger Silver Proof
    2010 $1 100 Years of Australian Coinage Silver Proof
    2010 $1 Centenary of Australian Commonwealth Silver Coinage Silver Proof
    2011 $1 Australian Lunar Silver Coin Series II: Year of the Rabbit Silver Proof
    2011 $1 Centenary of Australian Commonwealth Bronze Coinage Silver Proof
    2011 $1 Famous Battles In Australian History: Gallipoli Silver Proof
    2011 $1 Famous Battles In Australian History: Tobruk Silver Proof
    2011 $1 Australian Lunar Silver Coin Series II: Year of the Rabbit (coloured) Silver Proof
    2012 $1 Famous Battles In Australian History: Kokoda Silver Proof
    2012 $1 Australian Lunar Silver Proof Coin Series II: Year of the Dragon Silver Proof
    2012 $1 Famous Battles In Australian History: Kapyong Silver Proof
    2012 $1 Famous Battles In Australian History: Long Tan Silver Proof
    2013 $1 Australian Lunar Silver Proof Coin Series II: Year of the Snake Silver Proof
    2013 $1 Kangaroo Series 20th Anniversary Silver Proof
    2013 $10 Bicentenary of the Holey Dollar & Dump Gold Proof
    2013 $10 Bicentenary of the Holey Dollar & Dump Gold Proof
    2013 $25 Australian Sovereign 2013 Gold Proof
    2013 50c Kangaroo and Map: 1913-2013 Coin and Stamp Set Silver Proof
    2013 $1 Australian Kookaburra High Relief Silver Proof
    2013 $1 100th Anniversary of Australia’s First Banknote: Coin and Stamp Set Silver Proof
    2013 $1 Australian Kangaroo High Relief Silver Proof
    2013 $1 Australian Koala High Relief Silver Proof
    2013 $100 Perth Mint Australian Kangaroo Bullion (x1) Gold Bullion
    2013 $1 Perth Mint Australian Koala (x20) Silver Bullion
    2014 $1 Australian Lunar Silver Proof Coin Series II: Year of the Horse Silver Proof
    2013 $1 200th Anniversary of the Holey Dollar and Dump Silver Proof
    2015 $1 Australian Lunar Silver Proof Coin Series II: Year of the Goat Silver Proof
    2016 $1 Australian Lunar Silver Proof Coin Series II: Year of the Monkey Silver Proof
    2018 $1 Australian Lunar Silver Proof Coin Series II: Year of the Dog Silver Proof
    1984 Set 1984 Proof Coin Set Cupro Nickel & Bronze Unc
    2017 $1 Australian Lunar Silver Proof Coin Series II: Year of the Rooster Silver Proof
    A2018 $1 Australian Lunar Silver Proof Coin Series II: Year of the Pig Silver Proof
    Australia / Spain 2013 €10, $1, 25c Bicentenrary of the Holey Dollar and Dump: 3 Coin Set Silver Proof
    Cook Islands 2002 $1 Crown Jewels Silver Locket coin Silver Proof
    2004 $1 Cobb & Co One Ounce Silver Coin Silver Proof
    2009 $1 Captain James Cook Gold Proof Gold Proof
    2010 $1 Famous Naval: Battle of Salamis Silver Proof
    2010 $1 Famous Naval Battles: Battle of Trafalgar Silver Proof
    2010 $1 Famous Naval Battles: Battle of Hampton Roads Silver Proof
    2011 $1 Australian Commemorative Florin Silver Proof Collection Silver Proof
    2011 $1 Famous Naval Battles: Battle of Midway Silver Proof
    2011 $1 Famous Naval Battles: Battle of Jutland Silver Proof
    Rome Wolf, Romulus & Remus
    Russia 1904 RUB5 Gold Uncirc. Nicolas II Gold Unc
    Switzerland Suisse Lady Fortuna Platinum Bullion
    Suisse Lady Fortuna Palladium Bullion
    Suisse Lady Fortuna Palladium Bullion
    Tuvalu 2007 $1 Fighting Ships of WW II: 1oz Silver Five-Coin Set Silver Proof
    2008 $1 Fighter Planes of WW II: 1oz Silver Five-Coin Set Silver Proof
    2009 $1 Famous Battles in History: Hastings Silver Proof
    2009 $1 Famous Battles in History: Cannae Silver Proof
    2009 $1 Famous Battles in History: Gettysburg Silver Proof
    2009 $1 Famous Battles in History: Thermopylae Silver Proof
    2009 $1 Famous Battles in History: Balaklava Silver Proof
    2010 $1 Great Warriors: Viking Silver Proof
    2010 $1 Great Warriors: Roman Legionary Silver Proof
    2010 $1 Great Warriors: Samurai Silver Proof
    2010 $1 Great Warriors: Knight Silver Proof
    2010 $1 Tanks of WW II: 1oz Silver Five-Coin Set Silver Proof
    UK 2002 $1 Queen Mother Tribute Medal Gold on silver Proof
    2011 £2 Mary Rose (All gold, yellow and red gold) Gold Proof
    2013 £1 Gold Sovereign Gold Proof
    USA 1996 $1 Silver Eagle Silver Dollar Silver Unc
     
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  14. ddevil

    ddevil Active Member Silver Stacker

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    Goodness! That is quite a collection
     
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  15. thedespatcher

    thedespatcher Member

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    Thank you, started many years ago didn't realise it would ever get so big, now i don't know what to do with it
     
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  16. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    That's a high premium collection that collectors might go nuts over. People seem to like all those different series and they are works of art in a coin.
    My son has good luck with Ebay and makes money there selling gold and silver and other things, whatever he thinks he can resell.
    Keep the sales in cash only so nothing is triggered. If they want to use the bank say no thanks.
    Or try selling private from the newspaper. Take a good friend or two with you when you go to meet and a public place so nothing weird. Gold and silver can do strange things to people.
     
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  17. Grizzly

    Grizzly Member

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    That looks very much like a numismatic collection, which is to say most of them will be worth more (maybe much more) than spot to the right buyer. Unfortunately it makes it much harder to value, as you have to know the current going rate for each coin.

    I think your best bet would be to watch the eBay actual selling price of many of these coins. Not the listing price, or the buy it now price, but the actual sold price. You can find that in the advanced search area on ebay. If you have time, dabble in selling a few on ebay.

    You also want to track down the mintage of each of these coins. If they are rare, they will be worth more.

    My personal interest is more on the bullion coin side, I've added a few comments below to the coins that I have personal experience buying or selling. Most I do not have any experience with.

    Australia 1954 Florin Circ - mintage 14.5 million. Extremely common. Silver content is currently worth AUD$4.66

    Australia 1966 50c Round 50c Circ - mintage more than 36 million. Extremely common. Silver content is currently worth AUD$8.76 They sell on the forum here for a bit of a premium over spot, but not too much. Watch some sales threads for these coins to see what they go for.

    2013 $1 Perth Mint Australian Koala (x20) Silver Bullion - These typical sell on the forums here for a few bucks over spot each. Have a look at what retailers are selling Koalas for, and knock some off that price. Ainslie Bullion in Brisbane is currently showing a price of $31.57 for a single 2019 Koala. The closer to spot you price them, the faster they will sell.
     
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  18. Niknakniko

    Niknakniko New Member

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    Hi Despatcher,

    Where are you in Australia for possible F2F?
     
  19. bigsky

    bigsky Active Member

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    Yeah, I am interested

    I have bought a few 'estate' collections before and I have been told that
    my offer was much better than the offers that they had received from dealers
    and in one case a wanted to buy add

    From my initial vieving of your collection, there are a few items that might
    surprise on the upside, but most are worth less and in many cases much less
    than the original selling price.

    If you want to recieve top dollars for this collection, it will probably take over
    50 hours, just researching to find out what the coins are actually worth...
    but this will be only a rough estimate because the main place of research (ebay)
    varies greatly, and not look at what the listings are priced at, but what the same
    coins have sold for...vastly different in many cases...especially not common items.
    Also what time frames these coins were sold...a lot of the coins really are only worth
    spot price or not much more than spot price these days, there seems to be more
    interest in selling numismatics than buying them

    Then you either have to list them or auction them here or ebay, then deal with all
    the low ball offers and questions of what condition are they in and the like
    This could take another 50-100 hours of so, depending on how good with taking pics
    and listings you are....basically how do you value your time, are you retired, would
    selling the coins be interesting or a chore to you
    Then you have to pack and post the coins, and with a lot of numismatics the packaging
    is nearly as important as the coins...so that could take another 50 hours or so..
    low and behold austpost crushes your box and you get negative feedback or it
    goes missing and you loose out

    Look so all up this whole process could take 100 hours or more, and probably much more IMO
    depending upon how fussy you are

    Have you worked out the metal value of all of your collection?

    what state are you in?

    cheers grant
     
  20. openeyes

    openeyes Well-Known Member Silver Stacker

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    Keep it
     
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