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Why not team up and align your business strategy with that of today's most fresh, relevant, and leading edge business and marketing tools, technologies, solutions, trends, and strategies? Heritage Auctions recently sold a significant portion of the incomparable Eric Newman collection. Selling your collection of rare coins at auction is an easy decision if you have a collection that has been formed over decades. To avoid the above scenario, you should save the best coins for auction and sell the lower quality coins at a discount as soon as possible.
One of the biggest questions facing consignors these days is whether or not to place reserves. Jeff Garrett, founder of Mid-American Rare Coin Galleries, is considered one of the nation’s top experts in U.S.
In addition to owning and operating Mid-American Rare Coin Galleries, Jeff Garrett is a major shareholder in Sarasota Rare Coin Galleries. Jeff Garrett has authored many of today’s most popular numismatic books, including Encyclopedia of U.S. Jeff was also one of the original coin graders for the Professional Coin Grading Service (PCGS).

Jeff plays an important role at the Smithsonian Institution’s National Numismatic Department and serves as consultant to the museum on funding, exhibits, conservation and research.
Jeff has been a member of the prestigious Professional Numismatic Guild (PNG) since 1982 and has recently served as president of the organization.
By conducting thorough research, you will become better equipped to anticipate and appropriately answer the buyer’s questions. The biggest mistake many collectors and dealers make is to consign material to auction that they have been unable to sell through other channels.
This advice might sound simple, but it is vital to have the greatest success when consigning coins. The auction houses make more money if all of your coins sell, so their advice on this issue can sometimes be self serving. His combined annual sales in rare coins and precious metals — between Mid-American in Kentucky and Sarasota Rare Coin Galleries in Florida — total more than $25 million. He is today considered one of the country’s best coin graders and was the winner of the 2005 PCGS World Series of Grading. In 2009 and 2011, Jeff ran successfully for a seat on the Board of Governors for the American Numismatic Association (ANA), the leading numismatic club in the world.
I have seen lots of fellow coin dealers purchase nice collections and then start selling the best coins at the first opportunity.
For the best results you should only consider selling coins at auction that a collector would be eager to purchase. The explanation for this is rather simple—most people cannot afford to purchase a complete set of anything. For smaller consignors, your collection could easily get lost in the crowd or be overwhelmed by higher quality coins.
As always, it is highly recommended to seek advice from an expert when making big decisions about your collection.
Today, he serves as a consultant to Numismatic Guaranty Corporation (NGC), the world’s largest coin grading company.
As many of you know, Eric is over 100 years old and has only recently decided to sell selections from his rare coins and paper money collection. Most have collections that they have assembled in the last 5-10 years, and sometimes need to sell coins for one reason or another.
You want collectors to be bidding competitively for your coins and not dealers who are buying coins and have factored out the commissions. The price point would be too high and many already have some of the coins if they are interested in the series. The commission rates can also be higher for major sales and should be taken into consideration.

This may be the dealer who helped assemble your collection or someone who is an expert in the specialty you have chosen to collect. Be sure to carefully clarify what you hear and then summarize their three “must-have” ingredients. These coins will sit around for months and the frustrated dealer will consign them to auction, hoping for the best.
If someone consigns a note that is needed for my collection, I will bid aggressively (maybe irrationally) to purchase the lot.
If you have a serious collection, then you would want your coins featured in this type of auction. Finally, remember that the auction business is very competitive, and you should shop around for the best overall consignment strategy that meets your needs. He is an accredited entrepreneurial business strategist and international marketing consultant. While Eric Newman’s numismatic achievements are incredible and his collection is equally astounding, his acquisition and disposal plan is not one that most will follow.
The auction commissions would be much higher than selling directly to dealers who specialize in this field. Lots of coins are sold on the Internet, but there is still plenty of excitement in a well attended floor auction. Not very many collectors can assemble a group of coins that will be so eagerly snapped up when offered for sale. On the other hand, if you owned a 1932 Double Eagle, collectors would be happy to battle each other in an auction format to purchase the coin.
Bidders love the security of an under bidder and will sometimes end up stretching if they feel a coin is fresh and being sold unreserved.
In this case if the lot were sold unreserved, I might buy the note for much less than I was willing to pay.
This includes many of the nation’s largest coin dealers, publishers, museums and institutions. If the coins do not meet reserves, they will still have the coins and have to pay buy back charges. Setting reserves can be very tricky business and seeking advice from an expert is highly recommended.

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