Tips on Selling Your Coin Collection

Posted by Derek Sawchenko on

 If you don’t know where to start selling your coin collection, Certified Coin Consultants has some tips just for you. Selling your coin collection is a process. Naturally, you’ll want to get the best and fair price for what you have. If you want to do some research on the coins that you have, purchase the latest version of Richard Yeoman’s coin guide book. It is often referred to as “The Official Red Book.” You need to to get your coin collection appraised. While you may consider some options such as going to a pawn shop, auction house, etc., the best option is finding a coin dealer that you can trust. Why choose a coin dealer over other options? Pawnshops don’t know much or anything at all when it comes to coins. Auction houses charge a fee for items in their house. Coin dealers are knowledgeable about coins and will assist you in any way he or she can. A coin dealer can also send coins to be graded by a reputable coin grading company such as Professional Coin Grading Company and Numismatic Guarantee Corporation.

            Trust is important in building any type of relationship. A trustworthy coin dealer is one that is knowledgeable in numismatics; he or she should be an expert in the field. It is important to find and build a relationship with a trustworthy coin dealer. Unfortunately, many dealers in the coin business are shady and will cheat naïve customers. A shady dealer may pay a price that is significantly less than what the coins are actually worth. For example, a dealer may pay $400 for the coins when they were really worth $1,000.

            Investigate a coin dealer’s reputation. Visit the dealer’s website, social media accounts, and other affiliated websites. You may find reviews from their customers. Check if the coin dealer has a storefront. Take a visit to the storefront and speak with the coin dealer if possible. Speak to and build a relationship with the coin dealer. Building trust is the foundation of any type of relationship. Once you’ve determined that the coin dealer is both knowledgeable in numismatics and trustworthy, you can sell your coin collection. You can also purchase coins from that same coin dealer as well.  A trustworthy coin dealer will always be fair and offer clients great prices. 

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  • My husband recently inherited a coin collection from an uncle he didn’t have much contact with, and he would like to sell it since we have no place for it in our home. Thanks for your tip to look into the reputation of a coin dealer and to look at their website and social media accounts. We’ll have to make sure to do that so we can sell the collection to someone who knows what they are doing since we don’t really know anything about coins.

    Michaela Hemsley on

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