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Uncleaned The unique joys of uncleaned coins.

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Old Sep 27, 2006, 12:56 PM   #1
Scotvs Capitis
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Who has bought a bag of 1000 uncleaned coins?

I asked this at the other board too but in case i missed someone... Who has bought a bag of 1000 uncleaned coins?

I know lots of small time dealers and ebay vendors buy them, but are they worth the chunk of money? Do they usually contain just a larger amount of what we are already used to or is there a better variety?
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Old Sep 27, 2006, 03:58 PM   #2
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Most of the people I know who buy coins in bulk do so only to repackage them into smaller lots. I doubt that the time spend and reward:risk ratio is favorable for cleaning them all and selling individually.

By the time the coins are shrink wrapped into those 1000 bricks, you can bet that at least two to three hands have worked through the obviously nice examples.

Jeff
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Old Sep 27, 2006, 06:19 PM   #3
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Old Sep 27, 2006, 07:10 PM   #4
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vozmozhno, thank you. That was what I feared and halfway expected. What a miserable experience. I suppose I'll probably pass on a bag now, your experience is enough to keep me from it. I really would have expected more from a Vcoins dealer, but the nature of this product, I suppose I can understand.
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Old Jun 19, 2007, 10:32 AM   #5
zzancientcoins
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RE: uncleaned coins bulk lots

Hi,

We regular export bulk lots of uncleaned ancient coins of various grades.
We simply discard the junk, count the coins, and ship the coins in packages
of 1000 - 20,000 coins.

Kindest regards,

B. Leon
Z.Z. ANTIQUITIES, Ltd.
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Old Jun 28, 2007, 01:42 PM   #6
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In general I would agree, large lots have a huge loss overhead, probably 60%. But looking through some "junk" coins that did look to be slugs, provided some rather nice coins.

Before you toss the slugs, especially the small one, check their surfaces. Sometimes, slicks are not what they seem. A few of mine looked slick, but it turned out that it was the mineral coating that was smooth. Using a dip and scrub method, using vinegar, I was able to remove the slick crust and reveal very detailed small coins. So don't discount the little ones, they may be more impressive than the 30 mm ones.

A side note, a battery operated dremel and either a brass or nylon cup brush does a very good job of scrubbing. the battery dremels run at a lower RPM and torque, so they are much easier to control

Bruce
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Old Jun 28, 2007, 04:19 PM   #7
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Hi
I will give you exactuly whats going on with uncleaned coins in stages.
1:the coin Hunter find a group of 100 coins.
2: The hunter sells them to a local dealer.
3: local dealer sorte them in groups, A, B, C, D.
4: local dealer sells the A group that is in nice condetion with littel knowlodge of Rareity to a bigger merchant, and sell B and C , to another local bigger dealer with more knolowdge to sorte and clean the cleanable.
5: group D will be around 20 to 50 coins that are realy hard to clean or just a shadow of coins, the dealer will put them with other junks he is storing from befor.

now back to stage 4 and the A group coins, when the Merchant get the coins he offer them to people he knows out side the oragin country and will try to get the highist price for them, and they will be shipped directly to outside dealer.

group B,C will be sorted from many local dealers and Merchants tell they realy take all the nice coins and try to find any thing intersting on them, and them they will be treated like group A and sell out side for dealers who knows what to buy and how much to pay.

back to group D they will put it in bags and sell it for around C25 to inside dealers who will do alot of cleaning and sort the Rare coins even in bad condetion and from 1000 coin in group D around 500 Junky or extremly commen coins will sell to an out side dealer in cheap price and those are realy bad to buy because you invist in junk

the other 500 will sell for around $1 - $2 for out side dealers and those will resell at $4, but dealer here wont make alot of money realy since the shipping will cost almost $1.

the only thing you can benifit from uncleaned is to buy them from the oragin befor they get sorted, I was doing that and still doing that, and I end up with some coins that worth $8000 one time and just few months a go I end up with at least 7 coins that worth $1000 at least.
when I buy uncleaned I sort them and take what I want from them and sell the rest for locl dealers in the country of origin for less than what I bought them for, that way I do the job of sorting befor the Local Merchant and the out sider dealer.
this is from my won experiance and I will tell you some thing, you will never get nice and realy worthy coins if you are dealing with coins that passed through more than 3 hands, and the coins in the market as uncleaned passed through more than 10 hands.
best regards
Salem
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Old Jun 28, 2007, 07:23 PM   #8
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That's one of the best posts this year, Salem. I really appreciate your explaining how things work behind the scenes for those of us who live at the mercy of dealers who purchase at the point of origin (before sorting). Aside from yourself and a few other dealers here on the boards, I suspect the rest of us have little-to-no chance of purchasing large groups of unsorted coins.

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Jeff
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Old Jun 28, 2007, 11:52 PM   #9
Salem
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yes Jeff thats True, it will be hard to get unsorted coins if you dont have connections, I bought 12000 uncleaned coins that are comming withen a month to me, and I am planing this time to sell them here not in the origin but why???? I will tell later
and it is not just that, some times even the Hoards get picked and nice coins will sell indevisually, a funny thing happen in January at NY show was, a friend who is a whole seller showed me a Hoard of Egyption Roman Potin, and he was so happy that he got the Hoard, but I mad him very sad!!!! how??
when he showed me the Hoard I said are those 342 coins, he was choucked and said how you know, I said you bought it from that source and he said yes, then I showed him 50 coins with Rare reverses and Imperores and impresses from the same Hoard, I said to him : my friend this Hoard was offered to me and I didnt like the price for the Hoard because it was realy more than the retail price, so I offered to pay twice what the source asked but have the chance to pick 50 coins, and that what I did, your Hoard is realy a Hoard but I got the best of it .

next week I will get the Roman Constantinian Era Hoard of silvered AE3 and AE3/4 8655 coins completly intact and as usuall I will show it befor and after cleaning.
best regards
Salem

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Old Nov 15, 2008, 07:33 PM   #10
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I know this is an old thread but I have bought a lot of coins from dealers, sellers and the odd part time person I have been able to source direct.

Every batch is different. Some are absolute crap and will make you cry after opening them. Some you look at and wonder how you are going to make a profit, some you open up and see the money you have spent is well worth it and you may make some good profit. Every now and then you will open a bag that makes you think , damn I need to get more coins from this supplier...only to find his next batch is very average.

Salem is right about this. You need to get as far up the chain as you can to try to get closer to the "source" so as to decrease the likelihood you are going to get a bag of worn rubbishy junk.

People seem to lose sight that its the end retailer of those coins that often loses out, and in turn his/her customers and eventually the whole uncleaned business.

Sadly whatever has happened to uncleaned coins causes a chain effect. The bags have changed a lot in the last few years. The coins have gotten smaller and the quality no so great. I remember buying one bag that had nearly all fel temps in. No variation and heavily heavily sorted....and that was a good bag because at least it wasnt 80% junk (like another bag)

I have had luck in sourcing coins and been very unlucky on other occasions

But still I buy...

Cameron Day
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