How To Sell Your Old Coins

Do you have some old coins that you want to sell, but do n’t know where to start ? All besides often, people who are n’t collectors fail to get the best price when selling old coins. This usher will help you become an informed seller and know if you’re getting a fair price for your old coins .

WHAT TO DO BEFORE SELLING YOUR OLD COINS

Determine How Rare Your Old Coin Is

The Whitman “ Red Book ” Guide to US Coins can give you a general estimate of the relative rarity of your coins. The prices listed are outdated, but the remainder in prices between your mint ‘s date and other dates will give an indication of how rare they may be. Use the information in the Red Book to sort your coins by denomination and curio. constantly be careful with your coins. An extra scrape or nick can take tens or even hundreds of dollars off a rare coin ‘s prize. No indigence to throw money down the drain by being careless. When it comes to old coins, cleaning counts american samoa damage as well. A mint clean of its patina may be glazed, but it is besides lifeless. Coin collectors will pay much less for a scavenge coin, if they buy it at all.

coins 1 Identifying what types of coins you have is an important first footfall .

Find Out the Condition of Your Old Coins

You need an theme of the condition ( degree ) of each mint before you can determine how a lot they may be worth. The Professional Coin Grading Service ( PCGS ) is one of the crown mint grading companies in the world. You can use their Photograde™ Online resource to establish the approximate condition of your coin. If there is any interrogate in your beware about the grade of your coin, round gloomy. If one side is worse than the other, go with the lower class. Anyone you sell your coins to is going to do the like thing. Err on the side of circumspection to avoid disappointment late .

Find the Value of Your Old Coins

After determining the condition of a coin as best you can, start researching its prize. The CDN Greysheet offers holocene retail values for US coins in each grade. CDN ‘s Greysheet and Greensheet are the most sure price guides in the industry. Greysheet prices are just guidelines though, and local prices may differ. Keep in mind that these prices are retail – what you would pay for the coin at a principal. You will be offered the wholesale price so that the buyer can make a profit. Coin dealers have to eat, excessively .

Pro Tip: Consider Certifying Your Coins

If your old mint is sealed in a clear protective case labeled with the coin ‘s data and a grad, all the work has been done for you ! Your coin has been authenticated and graded by a professional coin grading service .1925-S $20 American Double Eagle Gold Coin Graded AU58 Certified 1925-S $ 20 American Double Eagle aureate mint graded AU58 by NGC The two largest and most democratic of these “ third-party scaling services ” are Numismatic Guaranty Company ( NGC ) and Professional Coin Grading Service ( PCGS ). Coins that have been graded and sealed in a protective “ slab ” by these two companies have higher fluidity and often sell for more, compared to dirt coins .

Where to Sell Your Old Coins In Person

now that you have an theme of what your coins may be worth, it ‘s time to decide where to sell them. Different types of coins have different markets. Your corner coin patronize is probably not the ideal buyer for your $ 500 Morgan silver dollar, and a mint dealer with a illusion showroom and aureate coins on display may not be the best place to sell Buffalo nickels .

Local Coin Shop

The obvious place to sell your erstwhile coins is your local coin shop. They will be your best stake for selling low- to mid-range honest-to-god coins like Wheat cents, Buffalo nickels, trash silver, and barely silver coins and silver dollars .showroom 01 The Gainesville Coins luxury showroom in Lutz, Florida Check online reviews and feedback for coin stores in your area, and choose a couple to visit. Look over their neckcloth to see if they carry the like type of coins you’re matter to in selling. These dealers are more likely to want your coins and give you a fair price. Some dealers will note on their web site which coins they are always concerned in buying. If a dealer has excessively many of the type of coins you want to sell, they will probably offer a lower price than a denounce that is running inadequate on them. This is why you want to visit more than one mint dealer. local coin shops are not high-volume businesses, so they try to not keep money tied up in excess armory. Tell the owner at the start that you are n’t in a first-come-first-serve to sell. If they make you an offer, say you ‘d like to think it over beginning. After visiting a few coin shops, you should have an idea of the prices in the local market. NEVER say that you need to sell the mint immediately. That gets you an instantaneous markdown on the price offered .

Coin Shows

mint shows offer the opportunity to meet several dealers at the same time. The largest shows have more than a hundred coin dealers set up to buy and sell. This is the rate to sell that “ valuable but hard to move ” mint. Heritage Auctions will frequently offer detached appraisals at major mint shows – another reason to attend. On the other hand, dealers will be busy making sales and buy coins that are in demand by their customers back home. They might not have the time to devote to carefully looking over your coins, specially if they are busy. That said, if a dealer asks you to come bet on former, it means that they are interest in your coins. If you have coins that are in demand, you will get a dependable price at a mint prove .Look at all the shinies we take to coin shows! Look at all the shinies we take to coin shows !

Where to Sell Your Old Coins Online

There are several options available when selling your old coins online. The method you choose depends on your appraisal of the value of your coins, and how a lot campaign you want to put into selling them .

EBAY

eBay is one option for selling your coins online, but the senior high school fees and dealing with bidders and buyers personally discourage many sellers from taking this path. That said, an eBay coin auction with clear, detail photos may bring you more money than you expect.

BULLION DEALERS

Online bullion and mint dealers are another option to explore when selling your coins. specially suited for selling bullion and slabbed coins, large online mint dealers are always in the marketplace for old amber and silver coins a well. The large online coin dealers buy a larger range of old coins and larger collections than brick and mortar coin shops. Some online bullion dealers merely deal with big orders, refusing to make purchases of less than $ 1,000. Others, like Gainesville Coins, buy your coins in both big and little quantities .

MAJOR AUCTION HOUSES

If you have a popular and valuable rare coin, it might be time to talk to an auction house that specializes in rare coins. inheritance and Stack ‘s Bowers are the two largest players in the rare mint market. Consigning your coins to a major auction house gives them vulnerability to a ball-shaped audience of mint collectors, maximizing your chances of realizing the best price. You should submit your coins to a third-party mint grading service like NGC or PCGS for authentication before placing them in a rare coin auction. Buyers expect coins in major auctions to be authenticated. If yours are n’t, they will fetch notably lower prices. Depending on when you consign your coins, it may be a month or two before they come up for auction. Seller ‘s fees in large online coin auctions can compare favorably with eBay fees, and you do n’t have to worry about shipping to the buyer .

Places to Avoid Selling Old Coins

There are some places where you should n’t sell your previous coins. here is the where and why :

  • Pawn Shops:
    Pawn shops do n’t deal with coins, so will pay identical fiddling, if they buy them at all. After all, who searches instrument shops for old coins ? They do n’t know how retentive their money would be tied up in your mint and will price their offer consequently .
  • Jewelry Stores:
    While they may offer the random gold mint now and then, jewelry stores are not in the coin commercial enterprise either. You might be able to sell a coin to them, but you credibly wo n’t be getting the best price .
  • “We Buy Gold”:
    Any clientele with a “ We Buy Gold ” sign out front are chiefly entirely interested in coins and jewelry for their alloy content. You ‘re improbable to receive a good price for a rare coin here .
  • “Hotel Room” Coin Buyers:
    These people travel from township to town, setting up in hotels for a few days and placing large ads in the newspaper guaranteeing high prices for coins. Their goal is to entice people who have inherited old coins to attend the event, banking that they do n’t know how much their coins are worth .

These people do know how much your coins are worth, but will never tell you that. many times, they succeed in buying person ‘s coins for less than the mellow value. It should go without saying that you should never take your coins to one of these events. No one can claim that all “ hotel ” gold buyers are fishy, but there are excessively many stories of people being taken advantage of to risk it .

What If I Think My Coin Is REALLY Rare?

If you think you have a highly valuable coin, it might make sense to have it graded and authenticated by a professional coin grading avail. The two largest and most popular companies are Numismatic Guaranty Company ( NGC ) and Professional Coin Grading Service ( PCGS. ) If you do n’t want to buy a membership to either grading service, your local coin dealer can submit your coins for you for a fee. OLD DOES NOT AUTOMATICALLY MEAN VALUABLE.

You can buy some ancient Roman bronze coins for $ 2 each, ampere many as you want. They may be 1,700 years old, but they are n’t rare, and they ‘re not valuable. A good way to determine the grocery store respect of an NGC/PCGS graded rare coin is by searching late auction results at Heritage Auctions. inheritance is the global ‘s largest mint and collectibles auction house and conducts the official auctions at many major coin shows. Searching their archives of sell coins only makes sense if you have graded ( slabbed ) coins .

Don’t Forget About “Junk” Silver

Dimes, quarters, and half dollars minted on of before 1964 were made with 90 % pure silver. People saved these not because of any numismatic value, but for their eloquent content. Known as junk silver, they remain a popular way to combine mint collecting and silver medal investment. so, do n’t spend those previous eloquent coins merely because they are n’t rare ! about all coin shops buy 90 % debris silver coins. Almost every pawn denounce does a well. Since junk silver is sold as a commodity, this is one position where instrument shops and coin shops are on an equal foot .silver_mercury_dimes 90 % silver coins normally come in the form of dimes, quarters, and half dollars. Junk silver medal is one type of coin that is comfortable to sell over the telephone. Just call about and ask what they are paying for trash silver. Since trash silver is bought and sold for its alloy subject, there ‘s no concern about missing out on a boastful payday ( unless you did n’t go through the coins looking for rare ones ! )

One hint : unlike other silver bullion, junk silver medal is normally bought and sold measured in face value, but by weight. This is because back when money was silver, the amount of silver in coins was proportional to their face value. Five pre-1965 dimes have the same total silver content as two flatware quarters or one pre-1965 silver half dollar. so, when you call to ask how a lot person is paying for trash ash grey, they will give you a quote of $ X “ per dollar face value ” .

Ready to Sell!

now that you ‘ve put in the work, you have a good idea of what your old coins are worth. You know the pros and cons of different mint markets and can negotiate on an peer foothold. thoroughly fortune on selling your erstwhile coins !

Sell Your Old Coins Online at Gainesville Coins

informant : https://coinselected.com
Category : Coin collecting

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