How to Sell Your Coins Successfully to a Coin Shop
Whether you have put together a coin collection or have inherited some rare coins, you might need or want to sell some of these. A coin shop is usually the best place to do so. For an amazing overall experience, you need to be savvy about selling to a coin shop. Learn crucial tips for selling your coins to a coin shop.
Do Not Clean the Coins
Coins can be in all sorts of conditions when you find or inherit them. You might be tempted to clean up your coins for a more appealing look. However, this is actually the thing not to do.
Why? Cleaning coins can reduce their value. Most dealers in coins want to see a coin in the condition it is in. Cleaning a coin can change its appearance and potentially cause damage.
Also, a coin in its original condition does not lose its patina. This is a natural layer that develops over years and protects the coin from elemental factors.
A clean coin that has not been cleaned is often worth lots more as well.
Find the Right Coin Shop
Before you decide on the coin shop to sell to, a little research can help. Check out your potential coin shops to determine the best option to sell to. Ask your friends and family for advice and referrals if they have sold to a coin shop before. And do not forget to read online reviews and feedback from past clients. You can also see if the coin shop has associations with professional coin organizations.
Before picking a coin shop, shop around and visit different stores. Know the coins these coin shops are selling and which coins are in short supply. Selling to a coin shop that is interested in your coin can help you. However, if a coin shop has a large coin inventory or does not deal with the coin you want to sell, they might not take your coin or could give you a lower offer.
Before settling on a coin shop to sell your coin to, remember your choice impacts your experience.
Know Your Coins’ Worth
You should have a clear idea about how much your coin or coins is worth before heading to a coin shop. Genuinely assess the coin’s condition, decide how much you want for it, and how much you are willing to settle for.
When assessing your coins, learn about their respective histories. A lot of coins have been minted and circulated, so doing some research can help you appreciate their history and understand their value. You can often discover more about coins and their potential value with coin price guides.
But while learning their history can help you better determine their retail value, know that this is not likely the same amount you will receive. Coin dealers often deal with different pricing than the going retail value, so be aware of the differences in prices when you go to sell your coins. While you can always haggle, coin shop dealers usually know the most accurate value of your coins.
Also, as with anything, coin values can change over time. If your coins are not worth as much now, they might be more in a few months. Do not be afraid to continually check on coin value prices so that you can receive a better price for your coins.
Selling to a coin shop can help you dispense with coins you do not need or want and get some monetary profit. Contact Rocky Mountain Coin to buy and sell coins, bullion, and collectibles. We look forward to seeing you soon.