Where and how to sell coins?

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

Owners of prestigious collections, of course, know the places where the most solvent buyers gather - true collectors and resellers. Fortunately, in almost every city there are unofficial and semi-official markets. But what about those people who got ancient rarities quite by accident and they don’t even know by hearsay about how to sell coins…

The global network as a source of reliable information

Since the emergence of the Global Network, and after it - specialized online auctions, getting reliable information is not a problem. On any official website, you can sell commemorative coins, old and any other, without leaving your home.

Here, on the site, everyone can get acquainted with the transaction procedure, methods of receiving payments and reviews of other sellers.

Even novice users, getting to one of these sites, quickly understand: in order, for example, to sell the coins of the USSR that remained in their property, you must first choose a similar coin among those already presented at the electronic auction. But sometimes there are overlays … For example: an inexperienced seller cannot understand why his goods are priced several times cheaper than those found on the Internetanalogue, despite the absolute resemblance.

What should a new salesperson know?

Frightened by the likelihood of "running into" scammers, an inexperienced seller, even if he really needs money, does not dare to conclude a deal for a long time for fear of losing the goods and being left without money.

Distrust of online services often settles in the souls of new numismatists after the appraiser "makes a verdict" for which they are not ready. For example, that it is much more profitable to sell commemorative coins, which are three to four decades old, than an old one minted several centuries ago. To understand why a family jewel hidden away for a rainy day, which had high hopes, turns out to be a penny trinket, it is worth asking what criteria are used to form the prices of auction coins.

Should I be afraid?

Concluding a deal at an electronic numismatic auction is already a guarantee of security. Firstly, the procedure is completely confidential and implies the possibility of obtaining both advice from a highly qualified specialist and other necessary information at any stage of the transaction. Secondly, the cost of the lot can only change upwards. Third, the intuitive auction interface.

To figure out why an expert working on the site evaluates almost identical lots differently, you need to be aware of some subtleties that are not customary to spread openly. All the information he needs (asto sell, the cost of coins, why the price is this) the beginner will comprehend in the process of communicating with the administration of the auction or on the forum, exchanging information with other, more experienced sellers.

All that glitters is not gold…

Like any other professional, the numismatist appraiser is guided by many options known to him alone. For example, old, but unremarkable coins, issued in a small circulation, as they say, “on trial”, in our time can be valued at several tens of thousands of dollars each and be a national treasure. The level of preservation, the quality of the bitterness are also of great importance…

It often happens that a coin of no particular value has such an exciting story that took place in real life, due to which its price jumps sharply at auction. Therefore, before selling coins, it is worth finding out if any curious, tragic or other incident is connected with them.

By the way, registration on the numismatic forum en titles you to a free evaluation of coins. This is a great chance to consult with the best masters of their craft, who are almost impossible to meet offline.

How to sell coins online?

Many people consider collecting art, and old coins are the best investment. Why? Coins, despite the global financial crisis, do not fall in price, and, apparently, this is precisely what explains such close attentionthe general public and the press.

The social circle of professional numismatists is quite narrow and closed to amateurs. In this state of affairs, it’s not enough for an amateur to sell coins - no one will tell the real price. The easiest way to evaluate and sell your collection (or part of it) is to register on an auction site.

Auction sites are designed so simply that even an inexperienced user will not find it difficult to find the sections to which his goods belong. Also, a potential seller needs to find images of their coins and formulate their main characteristics. In general, do everything to interest the auction administrators. Then the transaction will be completed quickly and will be mutually beneficial. But if the appraiser is not interested in the coin, it may not be worth the time to sell it.

If a decision is nevertheless made to sell, this can be done immediately after registration at the auction and the conclusion of an agreement in which the minimum price of the lot should be stipulated.

Payment and delivery

At any online auction there are always a lot of users who want to sell coins of the USSR. Often, owners of a large number of coins put up for sale all their “treasures” at once and, having read the terms of the sale in a hurry, lose sight of the fact that instead of commission fees (the amount of which depends on the final price), they may be charged the so-called minimum fixed amount, which is withheld:

from unprofitable lots;

from a large number of lots belonging to oneseller

And one more thing… Before selling coins at auction, the seller needs to decide how he plans to transfer the goods (by mail or through a private delivery service) and receive payment (electronic money or cash on delivery).