Money

5 Places to Sell Your Valuable Coins


where to sell your valuable coins

When you have a valuable coin, finding the right place to sell it can be a priority. However, if you are not a coin collector, you may not know which option is best. If you’re not sure where to start, here are five places to sell your valuable coins.

1. Local coin shop

If you are looking to sell coins quickly, going to a local coin store may be your best bet. While you may get a little less than the coin’s value – as the store will eventually need to resell it for a profit – the process is extremely quick. Also, you don’t have to worry about shipping the coin elsewhere, which can save you a bit of money.

2. Online Market

In some cases, turning to an online marketplace can get you a better price for your valuable coin. There you can communicate directly with other collectors, effectively eliminating any middlemen. While you’ll have to pay for shipping (and the cost of package insurance), it’s an option worth considering. Just make sure you choose a platform that doesn’t have a lot of merchant fees. Also, choose a store that specializes in coins, collectibles, or antiques, as you’ll have an easier time connecting with your target audience.

3. Coin Auction

If you’re not in a hurry to sell your valuable coins, listing them at a coin auction can be well worth it. You will need to contact an appropriate auction house to discuss what you have and arrange for the coins to be part of an upcoming event. In general, this option is best if a coin is particularly rare, as many auction houses will not list coins that cannot bid high.

With this option, you will usually see some listing fees. Make sure to review them first, as they vary between auction houses. However, since there is a reputable business that directly handles the sale, you will get more security than you would find with online marketplaces. In addition, you can get much better rates, depending on how interested you are in your coin.

4. Coin Program

Another option to consider is a coin show. These conferences bring together collectors, sellers, auctioneers, dealers and more, essentially helping you reach a wide range of potential customers. In addition, some providers may offer a free appraisal service, allowing you to determine the approximate value of your coins while you are on the site.

5. Coin Broker

Coin brokers are experts at acquiring rare coins for clients looking to expand their collection. If your money is particularly valuable, you may be able to get a better price by going this route. The broker is not focused on the resale of this coin. Instead, they are providing services to customers.

While they will try to negotiate a fair price, their compensation usually comes straight from the customer in the form of a commission. Therefore, they are not usually intended to bring you down. However, this process can take longer because of their priority to protect their customers. As a result, you may have to go through some additional rounds – such as an in-depth review of your coins – before they agree to buy them.

Have you used any of the places above to sell your valuables and would like to tell others about your experience? Do you sell your valuable coins in another way and want to let others know how it is? Share your thoughts in the comments section below.

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Tamila McDonald

Tamila McDonald has been a Financial Advisor to the military for the past 13 years. She has taught Personal Finance classes on everything from credit to life insurance, as well as all other aspects of financial management. Ms. McDonald is an AFCPE Accredited Financial Advisor and has helped her clients achieve their short- and long-term financial goals.



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