3 Critical Tips To Utilize When Selling A Coin Collection

Posted on: 14 July 2019


Collecting coins may have been an important hobby to you growing up. At some point, you may have lost interest. Instead of giving them away, consider selling them for a profit. This transaction will work out in your favor if you utilize these selling tips. 

Find Out Actual Value 

Before you start vetting offers from buyers, you first need to find out how much your coin collection is worth. Otherwise, you could ask for too much and not find a buyer or set the price too low and not get a good return on your investment. 

There are several ways you can find out the coin collection's value. You could search online and see what others have paid for the same coins you have. This will take some time, but won't cost you anything. Or, you can work with a professional appraiser for a fee. They'll use their industry knowledge and experience to come up with an accurate value estimation. 

Spend Time Cleaning Them Up

It may sound like a superficial detail, but it's a good idea to clean your coins thoroughly before listing them online. After all, you want to show buyers that your collection was well taken care of over the years. Chances are, your coins have collected a lot of dust, dirt, and debris. 

Cleaning them up won't prove difficult. You just need to place them in a solution of salt and vinegar. These home products will take away whatever residues have built up over the years. After they're clean, you'll be ready to take pictures to show them to the entire world. 

Be Strategic When Negotiating Price

Now, once you line up several buyers, you shouldn't just take whatever they offer. You need to be strategic and negotiate a little bit, so that you can get the most amount of money possible for this collection. Start by having figures of how much your coins are worth.

Having a starting figure will strengthen your negotiating power should a buyer question your listing price. Remember, you're in control of these negotiations. If you don't like what you're being offered, you don't have to sell anything. However, there is incentive on giving the buyer a decent deal. They'll be more compelled to purchase, allowing you to get money right away.

Collecting coins is a fun hobby, but it doesn't always last forever. If your collecting days are over and you wish to sell, make sure you know what precautions to take. A little research and planning go a long way in helping you with this sale. Reach out to a company like Harlan J. Berk, LTD to learn more.