Big-Time Coin Collection : How to Get the Most Money out of Your Collection
You have been collecting coins for some time now. You have an amazing coin collection with a lot of rare finds in it. Needless to say, you are proud of your collection. The point of collecting rare coins is for their value, and you have come to the decision that it is time to sell your collection.
While you know what you paid for each coin in your collection, you are not presently aware of its current street value. The following are some steps you can take to get the most money for your coin collection.
Knowing the Current Market Value for Silver and Gold
Most coins that you possess in your collection will either be silver, gold or some other composite metallic alloy. If you have money to spend on expensive coins, you might even have a coin or two made of platinum.
When you buy each coin, you should keep a record of how much the value of the precious metal in the coin was when you bought it.
When you sell your coins, you can check the current price of the metal in the coin to determine if your coin has appreciated or depreciated in value.
Of course, there are other factors in the look and condition of the coin that will cause the value to go up or down, but this primary assessment will help you to establish a ballpark idea of what your coins are worth from a raw calculation of the value of the metal from which they are composed.
Work with Experts
When selling your coin collection, you will want to work with expert consultants and curators who can properly examine and explain the value of your collection to you.
This way you will have some concept of what the coins are actually worth. Plus, you will also have an indication of their historical relevance. These factors can be important when negotiating a price or representing your collection to third party buyers.
Experts can also help you get the best price possible when you say, “go ahead and sell my coin collection.”
Get Your Coins Graded
If you have valuable coins, you will typically get a lot more for these coins if you have them professionally graded. A professional grading, by a legitimate grading service, will provide you with a certificate for the grading of the coin in its present state.
Even slight variations in condition can detract hundreds of dollars from the value of the coin, so it is best to only get your coins graded prior to intending on selling your coins for best results.
Also, beware to not send your precious coins off to be graded by a scam service. You should go with a company that has an excellent reputation among other numismatists.
Complete Your Collection First
While it is true you can get money from an incomplete collection, but you will make a lot more if your collection is completed.
There is also a certain satisfaction by having a completed collection. So unless you are strapped for money, it is usually far more worth it to have a complete collection. And the rarer the collection is, the better it will be for you money wise.
You have run the numbers, gotten your coins graded and even worked with consultants and experts to figure out what you actually have as concerns your coin collection.
Your coins have appreciated in value nicely for the most part. This is good news, because you are ready to ell, and now it is just a matter of finding the right buyer who will pay the price for which you have decided to sell your coin collection.
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Category: Coin Collection
