Help - How Best to Sell my Large Collection of UNDATED 20p COINS

[Guest]

Dear all. Could you please help and tell me the best way to sell my collection of UNDATED 20p COINS. I have more than 700 pieces in Mint & Good Condition.

Thank you in advance.

[PWA 1967 2,269]

700 

Slowly and one at a time ,just hope your young enough as will take ages 

Can i ask why you have bought so many as i had a few but only kept one.

Pete.

[PWA 1967 2,269]

4 minutes ago, Nicky123 said:

Hi Pete. I didn't buy them. I've collected them since 2009. I'll really prefer to sell the lot to one buyer maybe at cheaper than current market rate.

I doubt very much someone would buy that many 

[bhx7 222]

I would be interested in a mint condition one depending on price as I don't have one. I couldn't possibly buy all!!!!!! Think even a dealer would be hard pushed with that many! Wow...

Edited February 4, 2017 by bhx7

[Rob 3,241]

It's fair to say that with so many potentially overhanging the market, the price has just dropped by at least 20%, maybe more. All those who bought for several hundreds of pounds will only have one or two examples at most, and in most instances will remain in denial about the wisdom of paying so much. Those who have collected from circulation can accept whatever price they are offered, as there will be zero chance of realising the current market retail price. I think the best bet is probably to sell them as a bulk lot in the same way as that huge number of farthings a couple yeaars ago, and hope that two dealers push the price up.

You can always spend them if the hassle is too great.

[PWA 1967 2,269]

The first one i bought around 2011/12 i paid £90 for from Chard in blackpool .

Not long after there were some at a Brock auction for £40 each 

 

[PWA 1967 2,269]

7 hours ago, bhx7 said:

I would be interested in a mint condition one depending on price as I don't have one. I couldn't possibly buy all!!!!!! Think even a dealer would be hard pushed with that many! Wow...

I dont think one is going to make a massive dent in getting rid of them Brian  

[1949threepence 3,368]

I've never seen one in my change, so to accumulate 700 is mind blowing. 

[Rob 3,241]

4 hours ago, 1949threepence said:

I've never seen one in my change, so to accumulate 700 is mind blowing. 

Yes, but they are available on alibaba at a quid or so. They may or may not be genuine. Either way the market will be awash.

[mrbadexample 1,006]

Got mine in change circa 2009. 700 is a lot.  Do you work in an amusement arcade?

[PWA 1967 2,269]

I have a mate with a family business that around that time had hundreds of machines.

Him and his brother looked through thousands and never found one.

Maybe around that time a lot of people were looking for them before they spent them.

There is an article in the daily mirror today about a £2 and again probably lots of people are probably checking them.

I have not got a £2 coin to look at  

[Rob 3,241]

I had one in change the other day, but as you say, 700 is a huge number unless you manage to acquire a bag of them from the mint. Does anybody know the number in a bag as would come from the mint?

Given a journey or two were believed to be the total number struck, this figure of approximately 100-200,000 would suggest it be almost impossible to assemble 700 without access to mint bags, or alibaba. They were struck over a very short period of time, so there would be no chance of picking them from change in the normal sense because they would be dispersed faster than you could pick them out.

I smell a rat.

[azda 983]

32 minutes ago, PWA 1967 said:

I have a mate with a family business that around that time had hundreds of machines.

Him and his brother looked through thousands and never found one.

Maybe around that time a lot of people were looking for them before they spent them.

There is an article in the daily mirror today about a £2 and again probably lots of people are probably checking them.

I have not got a £2 coin to look at  

You should ask the wife Pete, she probably has all your cash 

[PWA 1967 2,269]

Just looked at the credit card bill from last month when i was in hospital.

Glad i was only in five days  

[Rob 3,241]

How many of these have been taken from circulation and how many bought from the likes of dealers or ebay? The latter would obviously represent quite an investment and with them not being particularly rare, I would question the rationale for such a strategy.

Edited February 5, 2017 by Rob

[Flash 26]

undated as in totally without date or with the date on the obverse and not the reverse?

[Rob 3,241]

I questioned it simply on the basis of numbers.

Whether 100K or 200K struck is immaterial. To have 700 of them is a ridiculously high number unless you have had access to a known pile of them.

Based on Wiki, which can't be accepted as gospel but should be of the correct order of magnitude, a total of 136m 2008 20p pieces were struck and the cumulative total of 20ps to that date was 3.248bn. 100K or 200K is only 0.07% or 0.14% of the total struck in 2008 and 0.003% or 0.006% of the total number of 20ps struck up to 2008.

Based on a random distribution, to acquire 700 would necessitate looking at 22,736,000  coins based on an average of 1 in 32480, or half these numbers if 200K were made. Nobody has that much time on their hands, nor would I say access to sufficient material in the normal course of events to find that many. I'm sure they were released into a specific area or two as part of a mint consignment, which could skew the distribution curve, but it is not realistic to find the numbers quoted just from a random search of your change. How many people would see even a couple thousand 20p pieces in their change over a 7 or 8 year period let alone more than 10 million.

To buy 700 off eBay or similar would cost too much, so ................  the whole thing just doesn't add up unless you were able to buy a mint bag of 20ps and they just happened to have a large number of no date coins. Or you can get them from alibaba.

Edited February 5, 2017 by Rob

[Sword 1,535]

On 03/02/2017 at 11:31 PM, Nicky123 said:

Hi Pete. I didn't buy them. I've collected them since 2009. I'll really prefer to sell the lot to one buyer maybe at cheaper than current market rate.

This post suggests that they were collected in change. But no one can believe that it is possible to find 700 that way... Rob's post really says it all.

[copper123 1,563]

On 03/02/2017 at 11:22 PM, Nicky123 said:

Dear all. Could you please help and tell me the best way to sell my collection of UNDATED 20p COINS. I have more than 700 pieces in Mint & Good Condition.

Thank you in advance.

shows how rare they are doesn't it !!!

you never hear of people selling 700 mule farthings or 700 die number pennies

[copper123 1,563]

18 hours ago, Sword said:

This post suggests that they were collected in change. But no one can believe that it is possible to find 700 that way... Rob's post really says it all.

I found six in my change before it was anounced in the press that they were rare .(I searched about £10,000 worth)

I did find a further two soon after the anouncement  but none in the last few years - i have given up looking now - its a waste of time - all change is picked clean of them .

[Rob 3,241]

I rest my case. I had one in change last year.

[copper123 1,563]

Please could you also explain why you collected so many of these coins over the years and now want to sell them at a discount to their normal value - I suspect you may never get a job as a prominant economist or get rich with this sort of attitude to coin collecting .

[Sword 1,535]

I laugh at the cheap and ridiculous scams some people try to pull nowadays. 

If you Google "Nicky123 Coins", you will find that another and perhaps unrelated Nicky123 has posted " I have to unfortunately sell my collection of UNDATED 20p COINS Mint Condition: More than 500 pieces Very Good Condition: 150 pieces ... " in another forum. The said person has since claimed that she has received a "good offer". 

Someone then posted "And now they're miraculously sold, without any proof. Congratulations; you win 'Least Convincing Scam, February 2017". 

http://thesilverforum.com/topic/8037-undated-20p-received-a-good-offer/#comment-104302

Oh, I found two 1933 pennies when sorting out old coins ... I wonder if they are valuable .... anyone interested?

Edited February 6, 2017 by Sword

[Rob 3,241]

me me me me me. Have a 50:50 chance to get my Lavrillier. And I got my money back on the lottery last Friday What could possibly go wrong?

[1949threepence 3,368]

On 2/3/2017 at 11:31 PM, Nicky123 said:

Hi Pete. I didn't buy them. I've collected them since 2009. I'll really prefer to sell the lot to one buyer maybe at cheaper than current market rate.

That means you've received one every 4 days on average. I've never seen a single specimen.

Remarkable !!!