When and where to sell coins - a few tips

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

At some point, every collector wonders how much his collection costs. And it doesn't matter if he collects paintings, Christmas decorations or coins. There are also situations in life when a person is in dire need of money, and, consequently, he has to part with his collection. When, however, and where is the best place to sell coins?

It is difficult to predict exactly when the value of a numismatic collection will be higher. In this industry, you can see some trends: prices go down in the summer and before Christmas, because many people sell part of the collection during this period to raise cash, for example, for the holidays or a gift for loved ones. Sale of old coins becomes more profitable autumn, when the new Fischer catalog comes out. That's when it's more profitable to part with your collection. Of course, a lot depends on the condition, safety of banknotes and age.

Now buying and selling coins most oftencarried out through popular auction sites. This is perhaps the best solution, because many collectors gather there. However, you must reckon with unfair competition, which is likely to drive down the price of numismatic items. If you are not sure where to sell coins, then you can definitely advise: not in the market (collector's or flea market). Especially if you are not sure about the real value of your collection. If you have a whole series of coins, then it is more profitable to sell them separately. Particularly if they are valuable items. This solution is recommended for two reasons. The first - a whole series is bought by people who are just starting their adventure with numismatics, and they do not always have the necessary financial resources. People who have been keen on collecting for a long time usually seek out in the markets and auctions only those samples that they do not yet have, it is not profitable for them to buy all the series.

If you decide where to sell coins, then by selling them separately, you can earn more money.

Not all collectors (especially older people) are interested in and know how to use the Internet. Most often they have their own channels - antique markets and shops. Another of the best solutions where to sell coins is a bank. This is especially true if the item in the collection is expensive and rare. Some banks are engaged not only in the sale, but also in the purchase of coins. Numismatist forums also ask the question of where to sell coins. There are places likespeci alty stores, online auctions and bulletin boards. It is easy to guess that you can also sell your collection through portals (for example, city ones). But bulletin boards (such as Avito, Slando and others) lose compared to specialized forums and sites. Most often, newcomers come there to buy, therefore, they may not offer a price that suits you. You can also use foreign auctions. Both large financial enterprises and independent entrepreneurs organize the sale of coins through auction houses and websites (for example, Yukoins, Alexander, Poltinka, Hermes - the list goes on indefinitely). It is important to choose for yourself exactly the method that will allow you to be sure of an honest price and a professional transaction.