Selling Old Coins? Use These Tips

21 November 2016
 Categories: Finance & Money, Blog


If you find yourself with a lot of old coins that you've gotten from a relative or have collected over the years, eventually you may consider selling them. To make a good profit, heed the advice in the tips below.

Don't Clean Coins

Your initial impulse might be to think cleaning your old coins is a good way to present them to those who are looking to buy your pieces. However, it is very important that you realize that you could be damaging the coins you want to sell. Different chemicals in cleaning products could strip away the top layer of the metals in your coins or cause them to change color. If you're not absolutely sure that a cleaner is safe for your pieces, avoid cleaning them at all. Your buyers can always clean the coins themselves if they choose to; they are buying based on what the coin is, not how clean it is.

Use a Coin Grading Service

If you're not sure of the value of your coins, you may sell your coins for a low price and discover later that you could have gotten much more for them. That is why you must do some research to find out what similar sales have been like. Even more vital is that you use a coin grading service. Such a service will evaluate the current value of each of your pieces so that you already have some idea what you might command when you talk to buyers.

Avoid Emotional Sales

If you find yourself selling coins because you're having a personal financial crisis, it is easy to consider any and all offers that come your way. However, you could be cheating yourself out of a higher selling price in your haste to sell. You might want to sell all your coins in one big lot, for instance, which means that you aren't getting the best price for the better coins in your collection. Do your best to keep a level head during trying financial times; you might even want to have someone else sell your coins on your behalf so they can focus on getting the highest prices for you at this time and not just the quickest sales.

Be sure to consider the above pointers when selling old coins. For more assistance, talk with buyers and other sellers in the industry who can give you more suggestions or you can look here.