A Few Tips For Selling Coins

by | Dec 17, 2015 | Jewelry

Numismatics, simply referred to as coin collecting is an interesting, and often times, profitable hobby. Those who have a meaningful collection know that there is a right way to approach selling one or more of them. There are a few important tips for selling coins to maximize on their value; the tips include accurate grading, being aware of the value of the base metal and dealing with a reputable Chicago coin buyer.

Coins, just like precious gemstones must be graded, this is the first and perhaps the most important step in setting the sales price. Coins which are in absolutely mint condition, never circulated, are worth considerably more than coins minted in the same year but have been inn common circulation. Taking the coins to a Chicago coin buyer is one way of getting an accurate appraisal of the value. Although this is a way to realize a quick sale, it may not be the best way to get the most money.

Selling the coin or coins to another collector often results in a higher price but a collector does not have to hold the coin for eventual resale to profit from the transaction. Many coin collectors have a virtual library of guide books that describe in minute detail what a given coin should look like depending on the amount of wear. Often the collector will rely on the guide when negotiating the price at which he is willing to sell the coin for.

Like many things, coin sales are also cyclical. The values change day by day, this is a combination of the rarity of the coin, the number of coins currently available and the value of the material. There are numerous sources for the daily price of coins, many of which are found on the internet. The same rule of thumb that applies to any investment holds true for coins; buy low, sell high.

As well as going directly to a Chicago coin buyer there are other ways to sell them. Once the seller has established the value of the coin based on quality there are places to advertise its availability. Many coin collectors rely on online auctions, these types of venues allow the seller to post images of the coin as well as put forward an enticing description.

Regardless of where the coins are going to be sold it is important that they are appraised by a knowledgeable individual.

Chicago Gold Gallery is a Chicago coin buyer that employs expert coin graders and appraisers to ensure you get the price for your single coin or complete collection.

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