By Jonathan Croswell
How to Sell Coins
By Jonathan Croswell
OverviewMaybe you’ve inherited some coins, or maybe you’re a longtime collector who has built up a large collection and is ready to trade them in for some exchangeable currency. Either way, the items you have could be of great monetary value, and it’s important to know what you’re doing if you’re looking into selling your coins. You want to be prepared and understand the pros and cons of various selling methods to net a price with which you will be pleased.Step 1Obtain a professional valuation of your coins. There are TV shows such as Antiques Roadshow that do this, but your most reliable option is to go to at least two retail coin dealers to receive quotes. You can also reference the National Coin Grading Service’s price guides.Step 2Decide how urgent it is for you to sell your coins. A general rule of thumb is the quicker you want to receive the money, the less you will receive in contrast to book value. To get some fast cash, you can go to a dealer. To get the full value of the coin or more, you’ll have to sell on your own.Step 3Determine the best groupings for your coins so they’re attractive to collectors. Sets or near-sets should be sold together because you will be able to get more for the group than you would for each individual coin combined. You shouldn’t group coins with no connection to one another.Step 4Include photos of your coins in any online listings. Potential buyers will not want to pay large sums of money for a product they can’t see and verify on their own.Step 5Use an online auction website such as eBay to try and get the full retail value of your coin. You should also find online entities such as CoinCollector.com to post your collections and offers to interested collectors. Some coin retailers will also sell coins on consignment, giving you a higher percentage of the sale earnings, though you will have to wait until the coins are sold to receive any money.skill3tipBefore selling to any dealer, make sure he is a member of the American Numismatic Association.tipsBefore selling to any dealer, make sure he is a member of the American Numismatic Association.warningSales to retailers will be at least 10 percent to 20 percent less than the stated value of a coin.
Do not use any product with citrus or any acidic or corrosive qualities to clean your coins.warningsSales to retailers will be at least 10 percent to 20 percent less than the stated value of a coin.warningsDo not use any product with citrus or any acidic or corrosive qualities to clean your coins.keywordsell coins collectorskeywordssellkeywordscoinskeywordscollectorsResourcesreferenceCoinCollector.orgreferenceRareGold.comresourceNational Coin Grading Service
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