Author Topic: Bulk Lots  (Read 6199 times)

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Offline Prosit

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Bulk Lots
« on: February 01, 2011, 11:51:39 PM »
I have made a deal with a friend to buy a 10 kilo (app 22 pounds) bag of assorted world coins. Should look something like this image.  Won't get it for a while as most everyone in the US is snowed in and where my friend lives they have had nearly two meters over the last little while.

While I have collected Austria, Germany, Canada and the US for a long time...it is only recently that I started working on world coins in general.  Seems like a good way to add a lot of common coins fast.  I did get a very favorable price since I have know this fellow 10 years.

Anyone done this and did you have any positive experiences with bulk coins?

Dale


Offline Figleaf

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Re: Bulk Lots
« Reply #1 on: February 02, 2011, 12:11:41 AM »
Bought 5 kilos from a Canadian dealer a very long time ago. Apart from getting it through customs, it was a very good move. Many of the coins turned out to be unc and types we didn't have. The hardest part was dividing the loot. We made four piles: one each that one us wanted and the other one didn't, a pile both of us wanted and one both of us already had. We agreed that the piles we alone wanted were close enough in value and divided the other two piles by taking one coin in turns. We were still friends afterwards. 8)

I have seen much worse lots sold by weight, but if the lot is of reasonable quality, it is a lot of fun for a long time.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline asm

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Re: Bulk Lots
« Reply #2 on: February 02, 2011, 02:37:59 AM »
I have been lucky with this sort of thein. As a kid, having just started collecting coins, I was trapped by a dealer into buying 2 Kg of copper coins which were supposed to be 1 Kg of Sultans of Gujart & 1 Kg of Kutch - the two areas I was interested in at that time. Unfortunately, I could not read the coins and no help was available to help read the persian text and the coins stayed there.

When I joined up on WoC and Zeno, I found a lot of help in attributing these and at the end of the day, besides the average easily available coins, I also came across quite a few fraction coins of Kurch and Sultans of Gujarat - which one generally does not encounter and most importantly the bags between them yielded 2 coins of the Khandesh Sultans (a rare sultanate), 1 coin of Akbar of Delwara mint (of which not many coins are known), a few rare coins of both the Sultans of Gujarat and Malwa.

I have kept up the habbit of buying in bulk and quite often blind (without checking in depth what the lot contains) and have been lucky.

Amit
"It Is Better To Light A Candle Than To Curse The Darkness"

Offline Prosit

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Re: Bulk Lots
« Reply #3 on: February 02, 2011, 02:53:16 AM »
I certainly don't expect any rare coins or even any that are scarce or difficult. I hope for a good diversity and expect a lot of duplication and perhaps even a scattering of tokens. I supose I will have to attempt to sell the excess on eBay. A process I derive no fun from at all.  I hope for a few large copper coins in the mix as well as I have a fondness for big copper coins  :)

Dale


Offline Coinsforever

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Re: Bulk Lots
« Reply #4 on: February 02, 2011, 04:46:04 AM »
I have been lucky with this sort of thein. As a kid, having just started collecting coins, I was trapped by a dealer into buying 2 Kg of copper coins which were supposed to be 1 Kg of Sultans of Gujart & 1 Kg of Kutch - the two areas I was interested in at that time. Unfortunately, I could not read the coins and no help was available to help read the persian text and the coins stayed there.

When I joined up on WoC and Zeno, I found a lot of help in attributing these and at the end of the day, besides the average easily available coins, I also came across quite a few fraction coins of Kurch and Sultans of Gujarat - which one generally does not encounter and most importantly the bags between them yielded 2 coins of the Khandesh Sultans (a rare sultanate), 1 coin of Akbar of Delwara mint (of which not many coins are known), a few rare coins of both the Sultans of Gujarat and Malwa.

I have kept up the habbit of buying in bulk and quite often blind (without checking in depth what the lot contains) and have been lucky.

Amit


Well it is another interesting way of collecting the coins  most of the time 15-20% stuff one may find useful & rest  for selling and swapping .

My 1st query is how one can evaluate pricing , usually such lots are available for copper /bronze and nickel coins.
2nd is conditions of coins how to analyze visually between  (Good, Average & Poor ) , at the end it is gamble and luck.

Cheers ;D




Every experience, good or bad, is a priceless collector's item.



http://knowledge-numismatics.blogspot.in/

Offline asm

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Re: Bulk Lots
« Reply #5 on: February 02, 2011, 06:14:55 AM »
............. at the end it is gamble and luck.

Purely and surely a gamble......... You win some, you loose some .... It gives you a leaverage to get good / required coins in swap since you have coins to swap which have not cost much........BUT the biggest benifit, the package comes cheaper than the sum total of the individual coins.......Chances of a big loss almost nil.....

Amit
"It Is Better To Light A Candle Than To Curse The Darkness"

Offline Bimat

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Bulk Lots
« Reply #6 on: February 02, 2011, 07:56:43 AM »
I was offered a big lot of world coins (around 2 kg) only once, but the price dealer asked (INR 40,000~USD 876 :o) was way too high for me..Needless to say that I refused his offer ;D The coins in the lot weren't of very high grade..and I didn't see any rare types except one or two..he was just trying to make a huge profit..

Dale, let us know what kind of coins you get in the lot. (Sorting them out will obviously take a lot of time, I know! :D)

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Bimat

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Bulk Lots
« Reply #7 on: February 02, 2011, 08:03:50 AM »
And I would also like to have a similar empty bag as shown in the photo. :D It's indeed very cool 8)

Aditya
« Last Edit: February 02, 2011, 08:09:50 AM by Bimat »
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Abhay

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Re: Bulk Lots
« Reply #8 on: February 02, 2011, 09:00:51 AM »
One very important thing to keep in mind when buying coins in lot -
If the person, from whome you are purchasing the coins is a coin dealer himself, don't expect to find anything worthwhile in the lot.
But if you are buying the coin lot from someone who does not have deep knowledge of the coins, you can expect some real gems from the lot.
From my own experience- I purchased some Victoria 1962 British India coins in bulk a long time back - when the "DOT" business was not known to many. Although I have still not checked these coins for the various dot varieties, the same dealer is ready to take that lot back from me at a much higher price than the prevailng market rates - just because he could find many dot varieties in the coins which remained with him.

Abhay
INVESTING IN YESTERDAY

Offline Coinsforever

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Re: Bulk Lots
« Reply #9 on: February 02, 2011, 09:46:26 AM »
One very important thing to keep in mind when buying coins in lot -
If the person, from whome you are purchasing the coins is a coin dealer himself, don't expect to find anything worthwhile in the lot.


Certainly it is matter of concern to deal  ,while  purchasing  Bulk lots . Again it is tricky with  gamble & luck .

Cheers ;D
Every experience, good or bad, is a priceless collector's item.



http://knowledge-numismatics.blogspot.in/

Offline Prosit

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Re: Bulk Lots
« Reply #10 on: February 02, 2011, 01:15:49 PM »
Yes the bag is a big plus  :-)  I like it too.
Dale


And I would also like to have a similar empty bag as shown in the photo. :D It's indeed very cool 8)

Aditya

Offline Prosit

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Re: Bulk Lots
« Reply #11 on: February 02, 2011, 01:26:54 PM »
The seller is someone I have known and traded with off and on for over 10 years.  He is not a dealer in the traditional sense, he is a collector mostly and sells this stuff to fuel his own collection.

He collects world tokens and buys them overseas in the largest lots he can find.  He then gets what he wants out of them and sells the rest.  He used to do the same with world coins but gave up collecting the coin (often ordered in up to 500kg lots). several years ago in favor of concentrating on the tokens.

This last batch of tokens, he agreed to take a couple hundred kilos of coins to fill out his token order to make the price per pound and money he had in them per pound lower.  He tells me he still has 300 kilos of tokens but they are getting harder to sell and has about 10 of these coin bags left.

He is the source of my Austrian token collection and I have maybe 700-800 tokens from him in my collection.
Anyway we are friends.  He says he hasn't looked in this bag but can guarentee someone probably has. I believe him

The price for me is about half what I see these routinely sell for on eBay and I do watch his auction often.

Dale



One very important thing to keep in mind when buying coins in lot -
If the person, from whome you are purchasing the coins is a coin dealer himself, don't expect to find anything worthwhile in the lot.
........Abhay

Offline FosseWay

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Re: Bulk Lots
« Reply #12 on: February 02, 2011, 03:05:55 PM »
I've had a broadly positive experience of buying bulk lots off eBay, and this is where I've got most of my non-British Isles coins from. I make a point of only bidding on those lots that have decent quality pictures of the actual lot in question. Too many bulk lot sellers use a 'representative sample' to illustrate their wares, whereas you can get a good gut feeling about the overall interest of the lot just by a general overview pic that's detailed enough to identify those coins that happen to be on the surface of the pile. I'm not suggesting that people should scan every single coin in a 10 kg lot!  ;)

These days I buy fewer such lots, mainly because I find I have a large proportion of the kind of coins you get in such lots already. That's an issue with the stage my collection is at, not with the quality of the merchandise, and I've limited capacity for storing huge quantities of unwanted coins simply as a way of obtaining a few I don't have. However, I've had some real gem lots in the past, including a large lot that turned out to have one example of virtually every commemorative Australian 20c, 50c and $1 issued up to the date of purchase, in Unc, very few of which I already had; a clutch of Deutsch Ost-Afrika coins in reasonable condition; an unassuming Belgian 2c coin from the mid-19th century that according to Krause is worth some stonking amount (can't remember the date or the valuation, which I take with a pinch of salt); and usually a good batch of probably worthless but fun to research coins from the Indian princely states, Imperial China and German states.

Offline Figleaf

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Re: Bulk Lots
« Reply #13 on: February 02, 2011, 05:30:50 PM »
I wouldn't buy a bulk lot of coins any more, as I probably have 102% of the coins ana those in my collection are in a better grade, but a bulk token lot would be of great interest. All tokens are scarce in the sense that the production runs are small, but in addition, few dealers carry them, especially if they are from another country.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline stelios

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Re: Bulk Lots
« Reply #14 on: February 02, 2011, 07:00:39 PM »
Hello all,
Can you suggest me a place where i can purchase bulk lots except from ebay?
I think that most bulk lots in selling on ebay are not worth the money they are selling and
that it will contain very low grades of coins mostly Good up to Fine. Am i wrong?
This is just my opinion, i never bought a bulk lot but i would like to as i find it exciting to
go through one.

Stelios


Ps. This is my first post on the forum