3 Tips For Selling Collectible Coins

Many coins are prized because they are unique, have historical value, or they are made from precious metal. If you own any collectible coins and are ready to sell your coin collection, there are ways to receive a higher price for your coins.

Maintain Their Condition

Coins should always be kept in a safe place to minimize the impact of humidity, light, and touch on the condition of the coin. If the coins you have did not come with a holder, you can purchase them for each coin. This way, you and a potential buyer can inspect the coin with minimal touching. Depending on the material of the coin, it will tarnish or show other signs of age. Although it can be tempting to clean your coins, unless they are severely dirty, they should be left alone. Many of the features that show a coin is older, such as a patina, actually adds value to the coin. You can use a soft cloth to buff away obvious dirt, oils from your skin, and fingerprints.

Have An Assessment

Assessing the value of your coins is not only helpful when you are trying to sell them, but it also helps for insurance purposes. Anyone with a significant coin collection should have their collection insured for the assessed value of the coins. Information from the assessment also allows you to know the coins are authentic. Once you have your coins assessed, you can stay updated on their value by using well-known reference books. If the value of your coins changes significantly, you should also consider updating your insurance policy. Knowing the current value of each coin gives you a general idea of the asking price when you sell your coins. Although you will want the full value for each coin, it is unlikely any buyer will pay the full price.

Try Different Selling Platforms

There are many ways you can sell your coins, but the best method will depend on why you are selling the coins and your asking price. If you are in an emergency and need to sell your coins, you might find more success at a pawn shop, especially if they buy precious metal. Unfortunately, you may only receive a fraction of the value of your coin collection, but this can be acceptable in emergencies. To increase your chances of receiving an amount closer to the value of your collection, you probably want to try online auctions. If you will use an online auction or similar platform, be sure to only interact with platforms that offer protection for both the buyer and seller. Auction sites are more likely to attract buyers who have a serious interest in coin collecting and are willing to pay a higher price.

Selling collectible coins is not always easy, especially when the market for them might not be large. Knowing the value of your coins before selling can help you avoid being short-changed during a transaction.