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Numistacker

Heritage Auction Consignment (New Numistacker Service)

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As if life isn't busy enough with my day job and taking in coins for grading at NGC I am very pleased and proud to launch a new service that I hope will really help forum members and others to tap into the USA coin auction scene.  I have found that items that are between say $500 and $1,000 are not that easy to enter into high end auctions where they can be marketed to top end buyers and Heritage for example would normally only be prepared to take singles or lots with a value overall of say $4,000 plus, so I have arranged with Heritage UK to act as a consignment consolidator and thus provide a route to auction for the kind of items that you guys have in your collections and that you have been sending me for grading and conservation.

Heritage have regular weekly internet only auctions and regular special auctions for both USA and World material. These larger auctions often get great prices for good world coins and they represent a great marketplace for our coins. The top end auctions are "Signature" or "Platinum" and coincide with the major USA coin shows. I have already consigned the first coin to the Platinum Auction with an estimate of $8,000. 

Bidding will start at 50% of the agreed auction estimate and once an item is consigned it cant be reclaimed and will be entered at auction in the USA via Heritage UK. All items will be transported to the USA fully insured. There is a minimum estimated value per item of $500 and no maximum value. You are welcome to consign more than one item to me.

How does the system work?

Heritage will sell your item in US$ and then 40 days after the auction is complete will remit the funds to Heritage UK who will remit the funds to me and I will then immediately send you the proceeds. The buyer will pay the hammer price for the coin at auction and a buyers premium of 20% of the hammer price. You as a seller will get the hammer price of the coin less a % charge that depends on the hammer price of the coin.

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Examples A gold coin sells for $5,500 at Heritage Auction, the remittance to you will be $5,500 less 2.5% consignment charge which will be $137.50 so $5,362.50.

Is it worth using this service rather than ebay? For some items yes definitely and others no. The benefit of ebay is immediate cash payment for the item but there are risk attached and if the item is specialised then it can be dangerous to use a low start auction and fixed prices can attract no buyers. 

Do coins sell for more in the USA than the UK? Have a look at the Heritage Auction Price history and judge for yourself. I have seen UK coins go for great prices at the larger Heritage auctions and so if you have the right material then it may be the kind of thing that will work for you.

If you think that you may have something that would be worthwhile to send to Heritage for Auction then send me a PM.

I will be adding to this thread just like the other NGC grading thread over time. Talking about coins that have been consigned, perhaps reviewing consignments on the youtube channel and reviewing prices obtained at auction to monitor how this is working for consignees.

Interested to know what you think and whether you think that this service will be something useful and fill a gap in the market.

 

 

 


 

 

 

 

 

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Great idea, just wondered why the minimum is $500 per item as there are loads of lots at Heritage below this, particularly for the world coins?? It has been the total of $5000 per submission which has stopped me selling things via Heritage which is a shame as the vendors fee is much lower than most places.

They did agree to keep sales proceeds in my Heritage account saving me transfer fees as I buy quite a few things!

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4 hours ago, SilverTanner said:

Great idea, just wondered why the minimum is $500 per item as there are loads of lots at Heritage below this, particularly for the world coins?? It has been the total of $5000 per submission which has stopped me selling things via Heritage which is a shame as the vendors fee is much lower than most places.

They did agree to keep sales proceeds in my Heritage account saving me transfer fees as I buy quite a few things!

If an estimate if $500 or above thats fine. The $500 price point is because they start bidding at 50% of estimate for $500 and above. If they accept lower value coins they start at $1 with no reserve so its slightly riskier.

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7 hours ago, Numistacker said:

If an estimate if $500 or above thats fine. The $500 price point is because they start bidding at 50% of estimate for $500 and above. If they accept lower value coins they start at $1 with no reserve so its slightly riskier.

Thankyou - the $1 start is fine for below $500 as long as we would be able to submit coins. I didn't get any of the 3 lots I was after at the Heritage World Coins last night☹️ - all of which were below the $500 value - surprising number of live bidders for them! I could find and buy 3-5 raw coins of each and get them graded for what they went for so I may have to do that and hope for a MS65!

Having seen the list of coins at their main September auction I could do with saving the money anyway?

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First few coins are on their way to me for Heritage Consignment. It is going to be very exciting I think to learn as a group what works  and what doesn’t and then to look out for particular types of coins that will do especially well at heritage auctions in the USA and to then seek out and find the right material to consign. 

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The Heritage Auction at Longbeach in September (Live and Internet) is one of the best places to sell coins at.

If you have any coins you want to sell at Longbeach specifically please contact me in the next few days as the cut off date is in the next two weeks.

I recommend these major live Heritage world coin auctions for any item over about $500 in value.

 

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I wanted to report back here on how the new service is going.

Its early days but coins have been submitted for the ANA Philadelphia Platinum Auction in August, the Long Beach Signature Auction in September and also regular weekly auctions. The process seems to be working well with Heritage in the UK and the systems/paperwork are now in place.

IF you have any coins that you think would do well at a USA based Heritage Auction and would like these consigned then please get in contact. Its a fairly lengthy process so if you have something that could be in the Heritage January 2019 auction for example which is extremely popular as a major auction event in the USA then please get in touch NOW and then the coins can be placed as early as possible on the Heritage system so they get as much advance bidding and interest as possible.

 

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Coins for consignment to Heritage Auctions.

If you have any coins that you want to auction at Heritage this autumn please can you get them to me by 25th July.

There have been quite a few entries and I know lots of you are thinking about what coins to best consign with Heritage.

 

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CONSIGNMENT DEADLINE

Hong Kong December 6-7th  - CONSIGN BY OCTOBER 7th

New York January 6th-7th - CONSIGN BY NOVEMBER 7th

If you have higher value coins that you want to sell at major international auction then I would recommend consigning for the New York World Coin Auction in January.

 

 

 

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I am going to be sending consignments to Heritage for auction about the 31st of August. 

If you have any coins you feel would do well in the USA (with exchange rates at 1.28 to £ this may yield an exchange rate bonus when selling in $) please can you send them to me at the end of the month to ensure that they get included in the best auction. Coins over $1,500 can be entered for the Live Herirage auction at the beginning of January and I would recommend this for better coins that are numismatic in nature.

 

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On ‎16‎/‎06‎/‎2018 at 09:47, Numistacker said:

First few coins are on their way to me for Heritage Consignment. It is going to be very exciting I think to learn as a group what works  and what doesn’t and then to look out for particular types of coins that will do especially well at heritage auctions in the USA and to then seek out and find the right material to consign. 

Are there any lessons you'd care to share so far?

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The first Heritage auction has now come and gone and I had one coin in this auction which sold for $6,500. The seller was very pleased with this as this coin had previously been offered in a Facebook group with no takers at $2000 silly people  )))....

In September some more coins will be up for auction and in January more coins.

PLEASE - if you have any numismatic coins that you would like to sell at Heritage get in touch now. I will be selling about 12 coins of my own at Heritage in January and the process for me is about upgrading my collection to fewer better quality coins or extending my collection in specific areas so the Auction will release cash to be spent on more coins essentially.

The process of getting coins into these high profile auctions is lengthy but usually worthwhile. You do need to act now in AUGUST to get these coins auctioned in January at the premier Auction in New York 

https://coins.ha.com/heritage-auctions-schedule.s?category=world-and-ancient-coins&view=future

Please PM me for details of consignment services

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Heritage Consignment Update

Two batches of coins have gone to Heritage this week for consignment.

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Both modern and older coins are welcome. Mid October is the practical deadline for entry in the January Heritage Auctions and so if you have items to consign PM me for details.

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On 07/09/2018 at 14:16, Big23 said:

Hi @Numistacker what do you think a PF70 Lion like this could go for (after all fees)? 

I dont think there has been one yet sold at Heritage but 70 grade coins are always getting good money. It will be interesting how sales stack up but anything I have seen on proof 1oz resales for the beasts has been less than RM price.

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 I haven’t updated this thread for a while but I thought you guys would like to know that there are quite a number of auctions coming up that I have Numistacker consignments in them.

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These were  the results of last nights heritage auction sales for my consignment.

If you have any items that you would like to consign to Heritage, please PM me so that we can make the arrangements.

 

 

 

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1 hour ago, SilverTanner said:

Does this mean @Numistacker that you are no longer collecting California fractionals?😉

I have not seen any affordable ones for sale in the UK recently anyway )) actually its part of a plan to consolidate so all the ones i have sold at Heritage will go to fund a GB gold proof in January depending on whats around.

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2 hours ago, h103efa said:

Out of interest @Numistacker was it a worthwhile venture. Did you achieve your estimates? 

Yes over the three they achieved estimate. Small fractional was double my estimate, 1861 was on the money and the 1911-D was lower as 5 were on sale for some reason in the same auction.

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