Selling Your Collection; Getting the Most for Your Coins

So, the time has come to sell the collection.  Whether you are an experienced collector with an extensive collection or an beginner looking to specialize in a  new series, you will want to get the best price you can, without spending months doing it.  To do that, you may need some luck, good coins, or just follow these simple methods to maximize your coin collection’s value.

To start, you will need to evaluate just how much your collection is worth based on the average buying price for coins of comparable condition to yours.  The best resource for this would be a nationally available annual numismatic publication, “The Official Blue Book” (this is the companion to “The Official Red Book”  which gives the average dealer selling price for a coin), or “The Black Book of U.S. Coins” are good examples of places to give you an accurate estimation of what your coins are worth, now to get as close to that value as possible.

The highest coin prices are usually only realized through auctions, and there is proper reason for that.  By selling your coins with the other items up for sale in an auction, you dramatically increase the number of potential buyers that may be interested in your coin.  Be aware though, that the best collections for sale are generally sieries specific.  It is much easier to find an interested buyer for a complete series collection, than one or two issues from multiple coin sets.

Online auctions also provide a certain measure of exposure useful when selling your coins.  Be sure to specify a reserve price only if you absolutely need to have one.  Potential buyers may be turned off by the wrong coin with a reserve price.  Generally, a coin with an expected sale value of 10.00 dollars or less will not be sold under a reserve price auction.   There is a general perception that “no reserve” auctions contain the best deals in the marketplace, so use that to your advantage and offer those sales on items that you can risk taking whatever the market will bring you.

Whatever the venue, there are also some things you can do to the display, description, and presentation of your coin to maximize your value.  A coin album or similar permanent easily displayed set generally sells better than the same set packaged individually.  Also, the cheaper forms of coin preservation will conversely affect the price, so put coins of high value in secure holders, as the extra cost paid will not only yield a better preserved coin, but a higher resale value as well.  In the description, be sure to include only your honest opinion of the coin, and no filler describing the condition of the coin.  Adding the relevant history and mintage information is advised, however, as this will help the potential buyer grow interested in the coin you have.  Post pictures that are clear and show very fine detail on the coin, and be sure to answer any questions buyers have promptly and accurately.  Be proud of the coins you are selling and the person who buys them will have the same pride in them as you.

Monday, January 14th, 2013 Uncategorized No Comments

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