What You Can Do When You Want to Get More Out Of Old Coins
February 2, 2017
Different people have different reasons for starting coin collections of both vintage US coins and world coins that may no longer be in circulation. In some cases, they decided to save an old silver dollar or Buffalo nickel that they grew up with because they believed one day they would feel nostalgic about it. Owning commemorative coins has also sometimes been thought of as owning your own museum because coins have offered snapshots of history. But there are also financial benefits to owning coins, and if the gold and silver markets are right, you might want to search online using a phrase like “Sell my coin collection chicago il.” There are different reasons to sell your coins and different ways to do it.
Where You Should Sell Your Coins At
Where you choose to sell your coin collection at likely depends on how sentimental you feel about it, but it could also be determined by convenience and what you want out of your coins. Visiting an auction house or rare coin dealer shop is usually better than a pawn shop according to Silver Monthly because while you may not get sold the full value of the coin, you’re dealing with a person who will usually understand coins and their value and you have a chance to form a good working relationship with that dealer. Online dealers can also be a good option because you could sell to them without needing to leave your home, but you should do plenty of research on the dealer to make sure they have paid others for their coins. If you want to facilitate a sale of the coins yourself, a marketplace like Amazon or eBay might be even better, though it could take a long time to sell coins on those platforms.
What You Should Sell Coins For
Another determining factor for what you get for old rare coins is whether you’re looking to have them melted or prefer to have other coin collectors buy them. Gold always has higher value than silver, but to get an idea of what a coin’s melt value is, one company has put together a list of different rare coins detailing their weight in gold and silver and giving you an idea for what they could be melted for. Having coins melted might be a better option if you’re not getting good deals at auctions or dealerships or your coins are a bit too worn. But if possible, you should attempt to sell at collector value first to get the best price.
One thing you don’t want to have is seller’s remorse, and sometimes you find that certain coins such as those passed down by family members are a little more priceless than you think. But if you do have to part with them, never settle for the cheapest or quickest offer you get. Groups can help you find certified appraisers near you who can let you know what you really have with your coins. Plus, you may want to consider getting a good display case for them to help attract interested buyers.