Shows Offer Good Sales Opportunities
Question: I have a variety of many U.S. coins, including St. Gaudens gold, Olympic gold, Bicentennial gold, Morgan halves, U.S. Mint proofs and uncirculated sets, which I want to sell. Who may I contact? It seems that it’s a lot easier to buy coins than to sell them.--P.M.M.
Answer: One of the unyielding truths in numismatics is your last statement: It’s a lot easier to buy coins than to sell them. Although most buyers don’t realize it, they have the advantage. It is the buyer, after all, who actually sets the price. The buyer doesn’t have to buy. The buyer can pass up the particular offering and go on to something else. The seller, on the other hand, has to sell. That’s how he makes his living. So, while psychologically, the buyer has the advantage, in actuality the seller, due to expertise, has the upper hand.
The way to neutralize this situation is to attend a coin show, where many dealers are present and you can go from one to the other seeking the best offer. It won’t take long to get a general idea about the worth of your collection. I would suggest that you sell the coins as a lot and don’t worry about individual pricing. One dealer may offer more for one particular coin, someone else more for another. It is the total that matters.
From your description, your coins should interest many dealers. But you’re mistaken saying you have Morgan halves. You must mean Morgan dollars.
In any event, this is an opportune time to dispose of your collection. Many areas of the market have been heating up and activity has been brisk. Also, this weekend and next there are some major shows on the docket.
Leading off is the 25th Annual Glendale Pavillion Coin Expos on Friday, Saturday and Sunday at Glendale Civic Auditorium, 1401 N. Verdugo Road, Glendale. Hours are noon to 7 p.m. Friday, 10 a.m. to 7 p.m. Saturday and 10 a.m. to 5 p.m. Sunday. The show, directed by Dave Griffiths of Century Coins in downtown Los Angeles, is traditionally popular with hobbyists and investors alike and is a forerunner of the summer season.
Also on this holiday weekend is the 25th anniversary Convention of International Numismatics at the Airport Hilton Hotel, 5711 W. Century Blvd. The convention theme is “France,” although an auction by Ponterio & Associates on Friday and Saturday at 7:30 p.m. will feature Mexican and Latin American coins. Hours are 10 a.m. to 8 p.m. Friday and Saturday; 10 a.m. to 4 p.m. Sunday. A Young Numismatists Forum at 1 p.m. Saturday will feature Stephen R. Raylor on “Collecting U.S. and Foreign Paper Money.”
The following week will welcome the 10th Annual Long Beach Numismatic & Philatelic Summer Exposition featuring 450 dealer booths. The four-day show opens next Thursday. Hours are 10 a.m. to 7 p.m. Thursday, Friday and Saturday; 10 a.m. to 4 p.m. Sunday at the Long Beach Convention Center. Highlighting the show is an auction by Pacific Coast Auction Galleries on June 1, 2 and 3 at the convention center. For catalogue and auction information, contact the Pacific Coast Auction Galleries, 1013 State St., Santa Barbara, Calif. 93101; telephone (805) 962-3197.
Coin News
Joel L. Malter will present a coin and numismatic book auction June 5 at UCLA’s James West Center. Numismatic, art history and archeology books highlight the first part of the sale. Ancient coins plus treasure from the sunken Atocha highlight the second part. Catalogues are $5 and may be obtained from Malter, 16661 Ventura Blvd., Suite 518, Encino, Calif. 91316; telephone (818) 784-7772.