What Should You Know Before Selling Your Coins? Find Out Here

UPDATED: May 25, 2019

If you have precious coins, you know that it comes with great value. You might want to keep it but if it comes to the point that you would want to sell it for whatever reason, then you should know that there are things that you have to be aware of, especially when you are selling rare coins online. There are plenty of sites where you can sell them, but here are some tips or tricks that you can ponder upon before doing the transaction.

Be Realistic When Selling Coins

Before you put your rare coins on sale, think about what you can and what you should sell online. If you are a collector, keep the coins that you might regret selling in the future, even if you are selling it for a reasonable price. If you have coins that you are willing to sell, think first before you decide. You can start with coins that have a smaller lost-profit margin.

Sell Your Coins Willingly

When it comes to the coin trade, most buyers and collectors are sharks to the point that they will do anything to get their hands on these rare coins for sale. Sometimes, they end up taking advantage of the sellers. The worst thing that could happen is for them to tell you that you have to sell your coin and you do not need to get a fair offer. Remember that selling coins in a ‘forced’ sale can be 20%-30% lesser than what you can supposedly get from a good offer.

rare coin sellers

Choose The Right Timing

When selling your coins, it is important that you do it at the right time. Do not sell coins when everyone is busy. Some rare coin sellers choose to put their coins on sale around January or in July or August. These are the best times to sell because people at this time are in the mood to buy and not preoccupied with the holiday plans or summer vacations.

Clear And Accurate Photos

You would want the coins to look dashing and attractive in your photos. Which is why it is important that you take photos of the coin in natural light and possibly have it magnified. Make sure that you present an honest large photo of the coin using digital cameras. The goal here is for you to present it in the most ‘honest’ and ‘accurate’ way possible. If there are any scratches or discoloration, do not try to hide it. The buyer should be able to see these flaws.

Be Honest With Descriptions

Do not confuse your buyers with your descriptions. Avoid using words like “Very Good” or “Fine” unless they fit the ANA grading system. Be honest with your descriptions. If you see any discoloration or scratches, make sure to include that in your description. Also, let the buyer know if this is your coin or if you are selling in behalf of another person.

Selling coins online can be daunting, especially if you are doing this for the first time. Make sure to take note of the tips mentioned above and let it be your guide in selling your rare coins online.

Recommended For You