5 tips how to sell your rare coins for the best price

5 tips how to sell your rare coins for the best price

How to sell coin to get the most value for it - is the first question the owners of one coin or an entire coin collection are interested in. It is known that the experience of selling coins can be emotional and overwhelming one, that’s why it is important to spend some time for advance preparation, in order to get the most value and the highest price from the transaction.

1. Make a research about the coin or coin collection you own.

It happens too often that scam artists take advantage of uninformed private sellers. That’s why it is necessary to make a research to understand the value of the coin and be aware of how much the coin is worth. There are various coin price guides and magazines which will help appraising the collection and form some idea of its worth. In case you are new to the world of selling coins, keep in mind that there are various trade shows, local coin clubs, online communities and etc. where you are able to keep in touch with peers and ask their opinion about an estimated price of the coin.

2. Organize your collection.

Make a list of all items included into your coin collection, consisting specific details of each unique and rare coin. Coins organized in a right and proper way will help you negotiate the price, while giving an accurate idea of the scope of your collection to dealer.

3. Take a good picture.

If you are planning to sell a coin online, it is highly recommended to take a good picture including both sides of the coin. A clear image will make it easier for prospective buyers to evaluate a coin.

4. Place your coins to a rare coin auctions.

Auctions, both online and offline, unite people who are enthusiastic about bidding. People are in a mood to buy coins and you may benefit by betting the highest price for your items.

5. Choose the right coin dealer.

One of the most essential aspects of getting an accurate coin appraisal is finding a right dealer. A good dealer, while grading the coin, should be clear in his explanation and should be able to prove the price with authoritative documentation, pricing guides and auction results. But in order to get the best price for the coin or whole collection, it is recommended to get at least two offers. Let the dealers know that you are meeting with several dealers and depending on the negotiations you will select the best offer. During negotiations, ask several questions related to experience, knowledge, selling guarantees, attendance of numismatic trade shows, in order to get a better idea who is the person you are dealing with, what is his background and competencies. It is important to remember that in numismatics reputation matters. If you are a member of any local numismatic community or club, ask other members about their experience related to the dealer.
As you see, selling coins for the best price requires extra research and preparation. Apart from the tips mentioned above, remember to trust you inner feeling. Sell your coins when you are ready and feel that the dealer is professional, knowledgeable and competitive. Don’t rush if you feel pressure and prices don’t seem fair for you.

13 03 2018 711 Views

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