Many people have a passion for collecting old coins. Individuals often inherit coins and choose to sell them as and when the need arises. Rare collectible coins are valuable and can fetch much money in the market.
But many people fail to get fair prices in the market. Either they do not realize the value of the coins in their possession or end up selecting the wrong buyers.
If you have an extensive collection and want to sell valuable coins like Roman gold coins, Greek coins, or Byzantine coins in Illinois, this guide can help you get a good deal in the market.
Where to Start?
Not knowing what to do with old coins and selling them to auctioneers or dealers is often the best thing you can do, unless you love collecting coins.
If you have old coins you want to sell and don’t know where to start.
Know the Value of the Coin
Before you sell the coin, you have to understand its value. What is the condition of the coin? Is it dirty? Does it have scratches? Several factors determine the value.
A coin with scratches and in poor condition can be of low value. However, a clean coin, i.e., a shiny one stripped off its patina, does not guarantee a high value. In fact, there is no value for such coins in the eys of the buyers.
Get in touch with coin collectors and dealers to understand information like denomination, date, and mint mark. It becomes easy to determine the value once you know the coin’s condition and note its valuable information.
Where to Sell Rare Coins?
When you sell your old coins, you want a fair price and true market value. While going to a local pawn shop is often the most popular option, it is not the best place to sell your rare coins. Consider dealing with an experienced coin dealer or firm that will treat you fairly.
There are various methods of selling old coins. Here are a few ideas to help you get in touch with the right dealer.
- Local Coin Shop
Choosing to sell your coins in the local market is not a bad idea. But here’s a trick, do not sell them to the first shop you visit. Visiting a couple of shops will give you an idea of the coin’s market value, and you can take your call accordingly.
- Auction Houses
If you have a rare coin, like the Roman Medallion of Maxentius or silver Byzantine coins in Illinois, and want to sell it, it’s best to visit auction houses. They specialize in rare coins, which maximizes your chances of getting a good deal.
- Coin Shows
Rare coins can fetch attractive prices at coin shows. Coin collectors and dealers frequent these shows, so you can be guaranteed to meet the right people there.
- Bullion Dealers
The bullion market is another option to sell your precious metals. Bullion dealers aim to purchase old coins in large quantities. So, if you have been collecting for a long time and want to sell much of your collection, bullion dealers are your best option.
Planning to Sell Your Coins?
Now that you have got an idea about the places where you can sell your coins, hope you will make the right choice. Negotiate to get the best deal. Remember, do not sell without knowing the coin’s worth. Hope you find the correct value for your historical coins.