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How to sell a coin collection

By Edited Nov 13, 2013 1 1

Many people start their coin collections as children. As the years go by and responsibilities change, the coin collection ends up in a box somewhere collecting dust. If you have come across your coin collection and you are interested in selling it, there are a few options available. Keep in mind that selling your collection might not be easy and may take some time. Be patient and you will eventually find a buyer!

Before you get started

Invest in a price guide such as Witman's Red Book. Carefully organize your collection and use the Red Book to determine an approximate value for your collection. You really just want to make sure that you are aware of any valuable coins that might be lurking about in your coin collection.

The Red Book is a great way to get an idea of what your coin collection might be worth. Most beginner coin collectors are not going to be able to accurately evaluate their collection. If you feel like you fall into this category, it might be worth the investment to have a professional third party source put a value on the collection for you.

With some idea of what your coin collection is worth it will be easier for you to sell it without getting taken advantage of!

Coin stores

In order to maintain inventory levels, many coin stores will purchase coin collections. This is particularly true if your coin collection is in great condition. The problem with selling your coin collection to a coin store is that you will not get its full value. The coin store is going to want to make a profit on the coins it sells, and they aren't going to be able to sell the coins for more than they are really worth. That means you have to be willing to take less for your coin collection in order for this to be a viable option.

Find a buyer

So if you want to sell your coin collection for closer to the price that it might be worth you have to find a buyer that wants your coins for their collection. There are many reasons why people will buy coin collections. Maybe your collection has a complete set of Mercury Dimes and their set is missing half of them. Sometimes it's worth buying more coins than you really need to complete a collection.

There are different ways that you can find this type of buyer. If you have a local newspaper or a hobby newspaper in your neighborhood, consider taking out an advertisement for your coin collection. An alternative option is to place your coin collection up for auction on an internet site like EBay. An auction is one of the easiest ways to sell a coin collection. You just need to be prepared to take the winning bid!



Dec 24, 2010 1:57am
auctioning the coins on ebay is a great choice. You might also try an internet forum for a fee free sale, especially is the collection is not high value.
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