When considering selling world coins, you should sell foreign coins to a foreign coin dealer to receive the best price for your coins.Â If the coin dealer that youâ€™re working with doesnâ€™t have a background or knowledge of foreign coins, youâ€™ll likely receive much less than youâ€™re entitled to.Â Many coin dealers make offers for your foreign coins based on the gold, silver, or platinum content of the coins.Â While many foreign gold, silver and platinum coins are high mintage coins; and therefore, should not sell for any more than the melt value of the coins, some are quite valuable key date coins due to the relatively low mintage of the coins.
In particular, a number of old foreign silver coins minted in the 1700â€™s and 1800â€™s from countries such as Russia, Spain, Germany, France, Italy, Austria, Switzerland, and some of the Eastern European block countries can sell for quite a premium.Â Many of these coins are scarce as a result of the low mintage of the coins; however, attributes other than the overall mintage of the coins can play a large determining factor in the value of the foreign coins that you wish to sell.Â The foreign coin dealer to whom youâ€™re selling your foreign coins should have the knowledge and expertise to identify and explain these factors to you.
Weâ€™ve already touched on this briefly, but we are frequently asked what makes a foreign coin valuable?Â Even though a foreign coin may have a substantial mintage, it can still be valuable for one of three reasons.Â The base metal of the coin, if gold, silver, or platinum has intrinsic value due to the precious metals content.Â Selling foreign coins for the precious metals value can bring a substantial amount of money, as gold, silver, and platinum are currently at or near all-time highs.
Secondly, the coin may have features that make it susceptible to wear.Â Coins that were minted with a shallow relief can result in many of the details being worn away in a relatively short period of time.Â Many foreign coins that were minted in the 17th and 18th century are relatively shallow relief coins due to the technology that was being used at the time to mint coins.Â Most of the details of the coins are no longer present unless the coins were properly preserved.
Thirdly, countries, on occasion, have melted coins due to an error, a change in design, or to make gold, silver, or platinum available for the mintage of future coins.Â Case in point is the 1904 and 1905 50 Centesimos from Panama.Â The reported mintage of these coins is 1.8 million and 1 million, respectively.Â This appears to be a fairly large mintage, which is in fact the case; however, in 1931, 1 million of these coins were melted so that the San Francisco mint had ample silver available to mint Panamanian coins this year.
In summary, sell foreign coins to a foreign coin dealer to receive the most for your world coins.Â If in the Atlanta area, or if you wish to sell your foreign coins online, we suggest that you contact Atlanta Gold and Coin Buyers.Â They are a highly reputable coin dealer, with the expertise in foreign coins to properly evaluate your coins so that youâ€™ll receive the best prices for your coins.