If you have spent decades amassing a collection or your grandpa, dad or a favorite uncle or aunt left you coins then you need help when you decide to sell. So where and how do you sell your coins? You do have options and here’s some pros and cons.
What you don’t want to do is sell your coins to a pawn shop or some “cash for gold” operation; even if they’re set up at a bank. You will do better selling to a local coin dealer guaranteed.
Sell To A Coin Shop:
Contrary to some opinions not all coin shops are ran by crooks, you have good and bad in any business. You should pick a local coin dealer you feel comfortable with. If you get red flags on your visit then it might be wise to go to another dealer. A coin dealer will pay less than a coin is worth but a good coin dealer will tell you why they pay what they pay.
So ask questions on why they’re making their offer, and asked what the coins are actually worth. You can also get more than one appraisal to compare. Just remember a coin dealer has expenses and time is also money. So take those into consideration.
If you want a good idea on what a coin dealer will pay then purchase a Coin Dealer Newsletter. It is called the Greysheet and that is the dealer to dealer wholesale. A coin dealer is going to pay you 60% to 80% of Greysheet values for common coins and sometimes more for rarer coins.
Sell at Online Auctions:
I don’t recommend a small local auction since they often have poor marketing and coins tend to sell for less. If you can get them to advertise your auction for at least a week before your auction takes place then you might go that route but it’s going to cost 20% or more of the gross sell total.
Heritage Coins Auctions, and Stacks and Bowers are options to consign to but you can pay as much as 20% fees with them as well. You can call them and talk about pricing. Often you can do better if you allow a local coin dealer to handle your coins and deal with Heritage or Stacks.
If you enjoy taking images and meeting people and the process of packing and shipping coins then you can sell on sites like USAcoinbook or Facebook. You might use a PO box for security reasons but you can join Facebook groups and sell your coins. You would pay paypal approximately 3% and do all the work but you would make more.
You can sell at ebay but expect to pay around 10% plus paypal fees and some small flat fees; combined this will cost around 14% of the final value. You also must take good images, list the coins and pack and ship the coins you sell.
If you would like the author of this guide to buy your coins then call 740-354-2646 and ask for Daniel. Daniel owns and operates Portsmouth Coin and Currency Co.