In an earlier blog post we offered advice on how to determine the value of your precious coin collection. But once you know you have some rare and valuable coins, what then?
That's where this post comes in.
Below are some tips on how to sell your coins, in person or online. We always welcome feedback so if the below advice is helpful, or you have some other suggestions to share with our community, comment below.
Determine Your Collection Type
It's well-known there are four types of coin collections:
- True Collector Coin Collection – A selection of coins that was assembled by someone buying from dealers or at auction. Serious time and money were spent to curate the collection.
- Coin Assemblage – A coin assemblage is something that a collector or opportunist put together, and many of these types of collections havea slew of 90% silver and/or heavily circulated coins from the 1800s and later.
- Mint Products Collection – Consisting of proof sets, mint sets, and bullion products from the 1960s and newer that were bought directly from the US Mint or its resellers, or your country's equivalent.
- Late Night TV Collection – These types of set usually have Franklin Mint products, coins that are framed, certificates of authenticity, etc.
Selling to Coin Dealers
Once you identify the type of collection you have, and you may have more than one, you can opt for inquiring to coin dealers about selling your coins.
You can expect to receive prices in line with the “Blue Book” for U.S. coins, but, we recommend getting estimates from two or more coin dealers to make sure you’re getting the best deal out there. Be sure to check the coin dealer’s standing with the Better Business Bureau and their online ratings to confirm that you’re dealing with a reputable individual or company.
Contact Muzeum if you'd like your coins assessed by the many coin dealers in our buyer network.
Auction House Parties
Auction houses could be another option for you, especially if you’re selling a large collection of rare and valuable coins.
Typically, auction houses require that the collection holds a value at $5,000 or more. This option may inspire you to realize slightly higher prices for individual coins but remember to factor in auction house fees, commissions, and the time and expense to ship the collection to the auction house.
Thanks to the rise of eBay among antique and collectibles lovers, coin collections are also increasingly finding a home on eBay.
A few tips on eBay selling:
- Take clear and accurate photos of your coins. Choose a simple background. If there are any blemishes or scratches on your coin, you have to show that in the photograph to be as honest as possible about the condition of your coin
- Write clear and descriptive titles, and don't use the Numismatics lingo if you're unfamiliar with it. Don't toss around words like "Fine" or "Very Good" unless you mean them in the ANA grading sense.
- Any buyer should be able to read a listing and know what to expect when they buy your coins. They should know how long it will take for the coin to arrive, whether insurance will be provided, whether they can make returns, etc.
Coin Convention Crash Course
Another way to get your collection assessed and potentially purchased is by going to a coin convention or expo. That'll depend largely on your location and if you're willing to travel by car or plane to one of the leading conventions in North America.
This is a timely post because in Toronto on February 24 & 25 the National Coin Show & Auctions takes over the Hyatt Regency on King Street.
Can't make it? Don't sweat it; here is a list of the major coin shows and panel discussions in both U.S. and Canada in the coming weeks.
If none of the above appeal to you, your coin collection will be in good hands with our expert staff. Thanks to our global network of coin collectors and dealers, we can properly assess the value of your coins and link you with one of our interested dealers.
Message us anytime to learn more about what we can do to help you get top dollar for your coin collection.