What’s the best way to sell an old coin or a coin collection?
How to turn a coin or collection into spendable cash?
Two main avenues to revenue
The two main ways to sell coins are 1 - a direct sale to a coin dealer and 2 - a sale via an auction house or an online service such as eBay.
Either way, it’s important to have some idea of what you have and some general idea of what it might be worth. On the value question, you probably don’t have hugely valuable, headline-making rare coins, but some of them could be worth a few hundred dollars - and that’s worth some effort.
Unless you have very early (Colonial times early) U.S. coins or some that are gold, the major auction houses are unlikely to express serious interest. Most of your coins also are in what collectors call “circulated” condition, which means they have been used to some degree for their intended purpose. Condition is a very important aspect of value, with coins that are in uncirculated condition - never used and exhibiting no "wear" - worth a whole lot more.
Let's look at the 3 main ways to sell your coins.
1.) Sell to a Coin Shop - Now the coin dealer is going to buy them for less than they are worth, and this is normal. If the guy/gal running the coin shop bought them for fair value then he couldn't sell them and make a profit. They are running a business, not a charity right? So how much less is the guy going to offer you? Well between 20%-40% less to give a fair range. Please allow the owner to explain why he is offering what he is offering, and if you think something stinks just leave. No big deal. Most shop owners however tend to be fair assuming you go there expecting to receive slightly less than the coins true value. If you are looking to get rid of lots of coins, really fast, then a coin shop may be a good solution. Don't be afraid to let the owners know (politely) that you are shopping the coins around to various shops.
2.) Physical Auction - You may want to find an auction and see if the auction house is interested in listing your collection. They will of course charge a fee either flat or a percentage of the sale value usually.
3.) Online Auction or Marketplace - This may be the best option in general for those who wish to get the most for their coins, and are not limited by time constraints. Selling your coins one at a time, over months and possibly years is the best way to get the most for your coin or coin collection. But where? We highly advise against using eBay or feeBay as many people call it. The fees to list and sell a coin on eBay are on the verge of outrageous. Just trust us on this one. Unless you are an expereinced eBay user skip them. So where do you sell online? We've listed a few sites below that are trustworthy fair alternatives to feeBay.
Instagram- invitescon...