Where To Sell Your Coins?

Where to Sell Your Coins?

OK, you have spent years possibly decades creating a collection. Or maybe you have just inherited a few coins from Grandma, Grandpa. Whatever the case may be you are interested in trading them in for cash. Let me first tell you what not to do. First thing, first you need to find out how much your coins are worth. Do Not Clean Your Coins, Cleaing them automatically makes them worth less. A coin with a few small dings that has not been cleaned is worth more than a coin that has no dings, but has been cleaned. Once you have gone through and figured out what your coins are valued at in a healthy market you will need to find a place to sell them. Rather than posting them on craigslist, I suggest you sell them on a coin marketplace, or take them to your local coin dealer.

3 main ways to sell your coins

Number 1. Sell to a Coin Shop. Now the coin dealer is going to buy them for less than they are worth, and this is normal. If the guy running the coin shop bought them for fair value then he could not sell them and make a profit. They are running a business, not a charity right? So how much less is the guy going to offer you? Well between 20 to 40 percent less to give a fair range. Please allow the owner to explain why he is offering, what he is offering, and if you think something stinks just leave. No big deal. Most shop owners however tend to be fair assuming you go there expecting to receive slightly less than the coins true value. If you are looking to get rid of lots of coins, really fast, then a coin shop may be a good solution. Don't be afraid to let the owners know that you are shopping the coins around to various shops.

Number 2. Physical Auction. You may want to find an auction and see if the auction house is interested in listing your collection. They will of course charge a fee either flat or a percentage of the sale value usually.

Number 3. Online Auction or Marketplace. This may be the best option in general for those who wish to get the most for their coins, and are not limited by time constraints. Selling your coins one at a time, over months and possibly years is the best way to get the most for your coin or coin collection. But where?

Fair Coin Markets

Number 1. Great Collections. Found online at Great Collections dot com this site allows you to sell your coins with low fees. 0 percent for coins over $1,000 or 5 percent for coins under $1,000. They also offer grading, storage, and a healthy marketplace as of early 2013.

Number 2. Teletrade. Found online at Teletrade dot com this site also allows you to sell your coins with low fees, and offers a nice consignment option. They also offer cash advances, but I am not sure how this works.

Number 3. Heritage Auctions. Found online at Coins dot H.A dot com. Heritage sells is the largest in terms of overall sales. They sell nearly 1 billion dollars worth of items (not just coins) each year. I hope that I have been able to help you point in the right direction in terms of giving you a better ability to properly sell your coins, and hopefully get as much money as possible for them.