Have a Coin Collection to Sell? Top Tips for Getting the Most Money Back
Selling a coin collection you have built up over time or inherited from someone else can be an excellent way to get a fairly large lump sum of money.
If you want to get as much money as possible, you’ll need to take a few basic steps first. Here are four tips that will help you get the largest possible amount of money out of your coin collection.
Get Rough Price Estimates on Each Coin
Before you even try to find a buyer, you should get a basic idea of what your collection is worth. There are many online resources that will provide you with general valuations for coins.
See approximately what each coin is worth and write that amount down so that you’ll have both a complete inventory of valuations for each coin and a general price range for the collection as a whole.
Have Select Coins Graded Professionally
If your collection includes particularly rare coins or coins that are in the uncirculated condition grades, you should have them graded and slabbed professionally.
Doing this will incur some up-front expenses on your end, but will also result in a higher selling price for those coins.
Professional grading provides a guarantee of authenticity to buyers and saves them the trouble of sending the coins in for expert grading on their own.
Get Offers from Different Dealers
Now that the preliminaries are out of the way, you can start looking for someone to buy your collection. Coin dealers are often the best buyers, as they have the resources to buy even very large collections.
Many coin dealers throughout the country, including Rocky Mountain Coin, buy specialty coins or entire collections for resale.
Be sure that you get offers from more than one dealer, though, as the first offer you get won’t always be the best.
Don’t Be Afraid to Sell It Yourself
In rare cases, you may get a series of offers that are simply too low for you to take. If that’s the case, you can start thinking about selling the collection yourself.
Using selling websites, particularly eBay, you can list your coins for sale and get the price you want out of them.
It will take much longer, since you most likely won’t be able to sell the entire collection at once, but this method can increase the amount of money you get in the end.
By following these basic steps and tips, you can get a good amount of money out of your coin collection. Do some research, solicit offers and you’ll soon be able to sell your collection for a price that is suitable to you.
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Category: Coin Collection, Family Finances
