After the death of a loved one, you might be surprised to find they’ve left you a sizable collection of rare coins. Despite their value, you may not know much about coins or have the space to store them in your home. If you’re interested in selling rare coins, you have several options that all have different benefits.
Selling Coins Online
eBay, TeleTrade, and other online marketplaces allow you to sell rare coins from the comfort of your home. You can set everything up online and avoid making appointments with potential buyers. Plus, you can keep your listings active for as long as you like. However, there are also a few downsides to this option. You’ll have to manage each step of selling these rare coins yourself, which may involve the following tasks:
- Identifying each coin
- Confirming the authenticity of the coins
- Grading them
- Determining their value
- Taking photos
- Creating dozens of listings
- Replying to questions from potential buyers
- Storing the coins until you sell them
- Dealing with lost/stolen items and returns from customers
Selling Rare Coins at an Auction
An auction house can value the collection you’ve inherited and sell them, which can be especially helpful if you’ve inherited many coins. Assuming there are interested buyers at the auction, you may be able to get a reasonable price for the collection, but there are some potential issues. The auction house may start the bidding for each coin at a lower price than its market value to attract buyers. The auction house may also run an auction during a time of less or limited interest, such as over the holidays or during a historically slow time of the year. Finally, an auction house will charge you fees to host your collection and, like online marketplaces, charge a commission of 20-30% for each coin that is sold.
Selling to a Rare Coin Dealer
When you sell rare coins to a reputable coin dealer, you can get paid quickly and receive a fair price. It’s in your interest to speak with a few dealers and compare their estimates before making your decision. Be sure that your selected coin dealer is familiar with the factors that affect the value of rare coins. Some coin dealers can even perform appraisals online, which will speed up the process. Because coin dealers are experts, they can accurately identify and appraise each item in your collection.
As a full-service coin dealer, Atlanta Gold & Coin Buyers offers transparent, competitive rates for people who want to sell their rare coins. Whether you’ve inherited a large collection or are looking to invest in coins, our expert staff can help you. You can choose to meet with us in person, mail us your coins for an appraisal, or email us high-quality pictures of your rare coins. Regardless of which option you choose, please call us beforehand at (404) 236-9744 to discuss the coins in your collection.