4 Tips On Selling Your Private Coin Collection

Posted on: 2 March 2016

If you have been collecting coins, there may come a time when you decide to sell them. Whether they are taking up space, you are no longer interested in collecting them, or you need the extra cash, there are some important things to keep in mind. Here are some tips for selling your private coin collection.

Know the Current Coin Values

As a collector, you probably know a lot about the history of your coins, but you may not be up to date on what they are worth today. Start by doing some research and learning the values of individual coins and any complete collections you have. You may need to discuss this with a coin expert or have some of them appraised. There are also some master lists that include details about the most recent values of popular types of coins. Keep in mind complete collections tend to be worth more, but that doesn't mean people will only buy the collections. Individual coins may also be valuable as well.

Keep the Coins in Their Current Condition

While it may be tempting to clean and polish your coins so they look bright and new, this is the last thing you want to do. That natural patina and tarnish on the coins actually helps to show its age and authenticity. If you have a coin from the 1950s, a good coin dealer knows that there should be a certain  amount of tarnish, or some markings on it due to years of use. If your coin looks shiny and flawless, regardless of how well it was kept over the years, it could take away from the coin's authenticity. Keep the coins in their current condition when you begin approaching buyers.

Put Your Collections Together

Coins are much easier to sell when they are separated into collections. This first lets you know if you have any complete collections, which is ideal. Buyers are often enticed by collections when they are complete. However, even if some of your collections are missing some coins, putting them together can be helpful when you start to approach dealers. You can better show them what you have and what is missing from the different collections. You may also have some coins that don't belong to a collection, but can still be put together. For example, you might want to put all your silver dollars together.

Decide Who to Sell Them to

You should also decide how to sell them and who you want to sell them to. You may be in a rush to get your private coin collection sold, but don't let that guide you toward the first person willing to give you cash for it. Consider local and online dealers, weighing the pros and cons of each. Do your research with any dealer, even those that come highly recommended. If you know the value of the coins, it should be obvious whether they are offering you a good deal or not. Contact dealers, like Harlan J. Berk, LTD, to get started.