If you’re a coin collector, or if you have unexpectedly become the owner of some collectable coins, you may at some point be interested in selling. Selling coins can be a great way to make money, however before putting your coins up for sale, you should first be sure how much they are worth, get a professional valuation if you're unsure.
There are many factors that go into determining the value of a coin, but the bottom line is that a coin is only worth what someone will pay you for it.
First you need to start organizing the collection into some resemblance of order. Start by grouping like items into separate containers or boxes. For example, place loose coins in a plastic container. Put sets (Proof sets, mint sets, collector sets, etc.) in a cardboard box. Folders and coin albums can be placed on the side because most of them are already identified. Finally, you may find storage notes of encapsulated or slabbed coins. The label on these coins identify the coin with the information that you will need for cataloging and inventorying.
Next, you need to figure out where to sell your coins. You could sell them to a coin shop or coin dealer. This is certainly a fast way to sell your coins, but because these buyers are out to make their own profit, they are going to offer you the lowest possible price.
Unfortunately, there are a few "sharks" in the coin collecting hobby that would love to take advantage of you. The good news is that these unscrupulous coin dealers are few and far between. A vast majority of coin dealers are honest businessmen that run their businesses with integrity and fairness.
Another option is selling your coins at coin shows. There are many different coin dealers there, and for a small fee, you can rent a booth and be one as well.
The best choice by far is to sell your coins on eBay. When doing this you will be selling to a large market of buyers which will help you get a fair price. More often than not, you will be selling to other collectors, in other words you will be cutting out the coin dealers profit margin. Every day, thousands of coins are bought and sold on eBay making this a fast efficient way to sell. Read our eBay selling tips.
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