5 Ways to Sell Rare Coins
Regardless if you have spent countless years to collect precious coins or if you have inherited it, a time might come that you might want to sell it. For most people who have not enough knowledge of selling such collectibles, finding a buyer could be daunting. Researching for ways to sell rare coins fast is much like what you’d do to sell house fast. It is important to be mindful of the process and know the avenues where you can make a sale.
Most Common Ways of Selling Your Coins
If you wish to sell rare coins at the best deal possible, then the following methods are something that should be taken into account.
Selling to Coin Shop
It does not matter if you are transacting with an online store or a brick and mortar store, coin shops would be happy to make offers for their customer’s coins. After all, they are a business and will be factoring their profit margin prior to making an offer. If you are looking forward to make a quick sale, coin shops are the best path to take. However, better expect that the value of your coin will be 20 to 40 percent less than its actual market value.
There are several locations where coin shows are held. Such events are quite popular among coin collectors and dealers alike. This makes them the best place of meeting numismatic enthusiasts. Opting to sell at coin shows might bring mixed results since dealers don’t have much time to do research on the coins presented.
Online Coin Dealers
This is a wonderful way of getting in touch with folks who are actively buying coins but it is oftentimes efficient and quick. But in order to maximize your return, you have to match the coins with the dealer who show the same interest.
Online Auction Sites
Even though websites similar to eBay can give access to a global audience, the charged fees to list an item with reserved fee are costly. If there’s no reserve that’s placed on the item, you are running the risk of possibly losing it for fraction of what’s it worth. Buyers might be reluctant in paying a premium for item they’re not able to thoroughly inspect.
Another good source of information is to go with coin dealers. They’re like collectors but they tend to focus in specific numismatics only. Similar to any retail business, they’ll be paying discounted or wholesale price for them to make a profit from your coins.