Coloured collectable coins are a ripoff?

Discussion in 'General Precious Metals Discussion' started by Bobhawke33, Jan 10, 2020.

  1. Bobhawke33

    Bobhawke33 New Member

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    I know there are alot of mixed opinions around this subject but i would like to hear what some experienced stackers think of this.

    About 6 months ago I went on a buying binge of all the perthmint simpsons coins. I paid between $100-$120 for them except the donut coin which iIcould only get for $230 and the 2oz family coin I paid $430. I know I most likely won't get back what I paid but I was quite insulted when I reached out to an undisclosed Brisbane coin shop who offered $550 for the lot. What do you guys think is a reasonable price to ask for the lot? Screenshot_20200111-083706_Photos.jpg Screenshot_20200111-083712_Photos.jpg
     
  2. Bullion Baron

    Bullion Baron Well-Known Member Silver Stacker

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    TBH I think $550 ($50/ounce?) is generous from a bullion dealer. They are taking on a risk buying something way over spot, even if the coins are selling well in the secondary market.

    If you want to sell them as a complete set privately (i.e. on Silver Stackers or ebay), then I would add up the most recent sales of the individual coins on ebay (sold prices, not listed prices), then discount the total price by 20-30% if selling on ebay or 30-40%+ if selling here.
     
  3. Bobhawke33

    Bobhawke33 New Member

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    Yeah that's a reasonableconclusion I think. I may be better off selling them individually. But eBay takes 10% straight off the bat so it will be a challenge i think
     
  4. Ad1

    Ad1 Active Member

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    Not necessarily a ripoff. There are just a lot less buyers for them as opposed to the near spot segment coins. Selling them would take a bit of work. To make a profit or break even, you really need to be good at gauging which coin series would be popular (a bit of a punt) and buy accordingly based on mintages. Most bullion dealers would pay under spot even for coloured/numismatic coins, so 50$/ounce is really good.

    Most coloured coins that i have seen on sale @SS have gone for significantly less than their initial sale price, so i would stay away from them unless i really like them. For your coins, try eBay when then have their promotions (e.g. list for free on weekends + fixed final value fee of $1.10 etc). You might be able to charge a premium for some of the simpsons coins that can offset postage, eBay and Paypal fees.
     
  5. Bobhawke33

    Bobhawke33 New Member

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    I ended up selling them for $1600 via Gumtree which I was quite okay with. You definitely need to be alot more patient than with coins close to spot. The original offer of $550 was an attempt to dupe me I believe.
     
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