#1: Find Out What Coins You Have
If you ’ re a coin collector, you already know what you have. Feel detached to jump to “ Step # 2 : Find the stream commercialize price for each coin. ”
Reading: How To Sell Your Coin Collection
If you ’ re a non-coin person, determining which coins you have can be done with a few simple resources. You could besides get the collection appraised at a local coin workshop, particularly if you ’ re looking to sell via that method acting. here are some capital resources for beginners :
- The Red Book: The Whitman Guide to US Coins, aka “ the Red Book, ” is considered an indispensable resource for coin collectors. It gives mintages for each mint produced by the United States, and comparative prices. The actual prices are not indicative mood of the current price for any coin, but the price spread between park dates and rare dates of the like coin type illustrates their proportional scarcity .
- PCGS Coinfacts and Photograde: The Professional Coin Grading Service was the first base company to offer certificate and condition rate for rare coins. Their on-line resources include Coinfacts, where you can learn the rarity of your coins ; and Photograde Online, which allows you to see what each mint type looks like in unlike states of wear .
- Look Up Key Dates and Varieties of Your Coins: Key dates are the hard-to-find coins that are required to complete a coin set. key date coins are normally the most expensive of their coin series, possibly excluding rare varieties. For an example of key dates in a coin series, we recommend key Date Morgan Dollars : Collecting Tips and Prices .
Varieties are coins where something happened during the minting process to make them different from ordinary coins. Types of varieties include die doubling and repunched mint marks. Some varieties are very heavily to detect unless you know what to look for. even experienced collectors should check their coins to see if one is a valuable variety that slipped through the cracks and into their collection. many types of variety show coins are army for the liberation of rwanda more valuable than the “ normal ” version. This makes it worth your while to double check any coin that seems like it ’ second unlike from the normal strike. Searching for varieties online will pull up the better known examples, such as the 1955 Doubled Die Obverse Lincoln Cent .
#2: Find the Market Price for Each Coin
Finding a current market monetary value for your rare coin collection is an imprecise skill, at best. Unlike fungible assets like stocks or smartphones, every coin is different—even from the lapp mint and year. The older the coin, the greater the variability between them. This means that even the most up-to-date information is nothing but a harsh guidebook to a coin ’ s measure. There are some places where that information is more credible than others .
- CDN Greysheet Prices: The CDN Greysheet is a grocery store price guide for mint dealers. If you have a bunch of coins that your research shows are valuable, it may be worth spending $ 8 for a single calendar month ’ s access to this on-line coin price template. Most of these prices are update weekly, with some updated more frequently. Follow the liaison to reference the Greysheet Coin and Currency Pricing for Dealers and Collectors .
- Online Auction Records: The big coin auction houses such as Heritage, Stack ’ s Bowers, and Great Collections post realized prices from their coin auctions. You can search these records to see what coins like yours have sold for. ( Heritage ’ south locate is the easiest to search. )
Remember that prices posted will include the buyer ’ south premium, which can be deoxyadenosine monophosphate much as 20 % of the hammer monetary value. Confine your searches to the death one or two years. Older auction results can reflect prices realized during the last rare mint ripple. This is why current auction records for many coins were set ten or more years ago .
How to Determine a Coin’s Melt Value
If you have worn “ coarse date ” dimes, quarters, half dollars or silver dollars, you might get more money selling them for their ash grey content alternatively of at a moo numismatic prize. Any US dime, stern, or one-half dollar made in 1964 or earlier has silver making up 90 % of its slant. The common name for these coins is “ debris silver. ” An categorization of 90 percentage flatware coins. Morgan and Peace silver dollars will sell for slenderly more than their flatware message, unless their features have been about wholly wear away. Of course, common-date gold coins have a far better prospect of having a melt value exceeding their numismatic value. Before selling an old silver or amber coin, determine its “ mellow value ” —the value of the ash grey or gold the coin contains, using stream gold or silver prices. That way, you can tell if a buyer is trying to take advantage of you. Use our Gold and Silver Coin Melt Value Calculator to find the melt value of your coins. You can besides consult the graph below to do the calculation manually. Remember that you won ’ deoxythymidine monophosphate be offered 100 % of dissolve value if you are selling “ debris silver, ” but if person offers you less than melt measure on a numismatic mint, you may want to walk alternatively of argue. You should know what your coins are worth after doing your research .
Actual Silver Weight (ASW) US Junk Silver Coins (Chart)
REMEMBER: A barely date or assortment of a coin can be worth far more than its melt prize, even in greatly wear discipline .
Coin Grading: Certified (Slabbed) Coins
Coins that have been certified and graded by a professional coin grading service are sonically sealed in a protective clear credit card “ slab. ” Slabbed coins fetch higher prices and are easier to sell than uncertified “ raw ” coins. Buyers have the peace of mind that a slabbed mint is actual, and is graded properly.
The doubt of when to send a coin to a third-party scaling military service can depend on your objective. Some collectors prefer all their coins in a put be slabbed, normally at the lapp grade. Return on Investment ( ROI ) for these collectors is a lesser concern than for collectors who want to enhance the measure of their coins on the resell market. Deciding whether or not to send a coin to a TPG for certificate can be slippery. Do you send a $ 100 coin in to be graded when it can cost closely $ 30 to do so ? Adding the grading fee to the price you paid for the coin might leave little room for net income. The situation changes with higher value coins. In those cases, the extra money you would get for selling the coin slabbed could far outpace the cost of getting it graded .
#3: Find the Right Buyer for Your Coin Collection
now that you know what coins you have and a roughly estimate of what they ’ re deserving, it ’ s prison term to find a buyer. bill that these suggestions are for numismatic/collector coins. If you have bullion coins like American Silver Eagles or canadian Gold Maple Leafs, you can probably walk into a pawn workshop and walk out with money ( though not ampere much as selling to an on-line bullion company ) . Some dates of the american Silver Eagle coins are highly collectible, such as the 1995-W .
Different Types of Coin Buyers
different coins will sell better to different buyers. Your place of Buffalo Nickels or Walking Liberty Half Dollars are going to sell better to a local coin shop or a companion collector. Whereas a type set of pre-Civil War gold coins from the Dahlonega or Charlotte mints will probably fetch a better price from a coin dealer specializing in high-value coins, or an auction house. The foremost position you should look to sell your coin collection is the place where you bought the coins. You already know that they buy and sell the type of coins you are selling. Don ’ metric ton expect to get back what you paid for them, though. The seller is running a occupation, not a coin library !
Other Coin Collectors
If you ’ re a member of a mint club, this is another market for coins you ’ re deal. You probably know other people who collect the lapp coins you do. Don ’ t join a mint club just to try and sell your coins. That ’ s the best manner to ruin the local market for you, since son will get out to coin storehouse owners .
local mint shops should be your go-to address for low- and medium-value coins. Everything from nice Wheat cents to semi-key date Morgan dollars should find a home at one of your local mint shops. Some shops will even buy honest-to-god little gold coins .
Another avenue is on-line marketplaces such as eBay or Facebook Marketplace. This requires more campaign than selling to a coin patronize or colleague collector, and can open up a hazard of losing your coins or money if a buyer files a quarrel. EBay in particular will side with the buyer in 99 % of all disputes, leaving you with no recourse .
mint shows are a good locate to see what coins like yours are selling for. It ’ mho besides a great station to make acquaintances with coin dealers. coin shows are busy places, so preceptor ’ t feel put out if a dealer can ’ t devote a draw of clock time examining your coin collection. even if they are besides busy during the show, you can follow up with them subsequently .
Online Coin Companies
Online coin companies have the capital to purchase entire mint collections, even high-end ones. You won ’ thymine find common date minor coins hera, except those being sold as trash silver. Your local coin shop or boyfriend collectors are more appropriate venues for those types of coins. One thing to be aware of : you will have to insure and ship your coins to the dealer. You won ’ t be paid until they receive the coins .
auction houses fall into two broad categories : little, local ones and large ones that aim for an international audience. small auction houses tend to be more specialize. Daniel Sedwick, for exemplar, specializes in shipwreck coins and spanish colonial cob. On the early bridge player, auction houses like Heritage or Stack ’ randomness Bowers conduct auctions for all kinds of collectibles, not equitable coins. They are focused on on-line auctions that cater to an international audience. The downside to international exposure for your coins that an auction provides is that you don ’ triiodothyronine know how much you will get for your coins until the auction is over. high gear seller ’ mho fees are another drawback. It can besides take weeks after the auction closes to be paid .
Selling Your Coins: The Payoff
If you ’ ve done your due diligence on the value of your coins and taken the time to marketplace them to the chastise buyer, you can feel convinced that you received a fair rate for your coin collection. Whether you were “ cashing out ” or simply selling off coins to take your collection in a different direction, you can congratulate yourself on a job well done ! Read more about coin collecting and selling coins from the numismatic experts at Gainesville Coins: How to Sell Coins : The 5 Best Tips How to Sell Your Old Coins Coin Collecting for Kids : A Beginner ‘s Guide
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