Coin collection how to#
Coin collection code#

Online brokers, who can make it easy to sell coins online.Additional options you may consider include: Turning to coin dealers is not your only option, however. Keep in mind that dealers will buy at wholesale prices, not retail. You can research coin dealers through the Better Business Bureau, trade associations, online review sites and more.

In general, selling to a dealer is much safer than selling to an individual especially when selling a valuable collection.

Coin collection code#

Be sure to look for dealers that are members of reputable organizations, such as the American Numismatic Association and Better Business Bureau, to give you some recourse and ensure that they are following a strict code of ethics in the transaction. Reputable coin dealers also provide appraisals and evaluations of your coins, an important service if you have valuable coins. You may wish to make several smaller sales with the dealer prior to selling a larger collection or more valuable silver coins to confirm that the dealer is knowledgeable, transparent, and offers competitive rates for your silver coins. While you’ll have no trouble locating plenty of coin dealers, finding one who is qualified and honest is a bit harder. However, the truth is, not all coin dealers are equal – we’ve seen this first-hand. However, not all options will bring you the highest value, and you may be left trying to strike a balance between a fast, easy transaction and the most profitable option.Ĭoin dealers are still a popular choice among investors and collectors ready to sell a collection. Thanks to the rise of the internet, you now have more options than ever when you want to sell silver coins. We’ll expand on what we covered in our previous article to discuss where to sell your coins after you’ve determined what you have.

Coin collection how to#

You can learn more about this step in a previous article, How to Determine Value When You Sell Silver Coins. Otherwise, enjoy the feeling of adding a new item to your collection and let the naysayers say nay.īefore attempting to sell silver coins, you’ll need to organize your collection into collectible and rare coins commonly referred to as “numismatic coins,” and those that will sell primarily for their silver value.

Next time you’re going to buy a coin or other collectible for an investment, do your homework and make sure it’s a wise move. Who’s to say they aren’t allowed to buy knick knacks? They know the color is fake, they’re overpriced and will likely not increase in value, but they love how the coins look. I have several readers who like artificially colored coins. The key is you need to be aware of whether you’re buying a coin to make money or to add an item to your collection. If you are buying something as an investment but it has almost no chance of increasing in value, that’s a problem. I think the main issue we need to be careful about is education.

If they have the money and are being responsible with their finances, what’s the harm? A new car is an awful investment, but I’ve seen the excitement some people have after buying their first brand new car. Just because an object isn’t likely to increase in value doesn’t mean you shouldn’t buy it. The joy of putting together a complete set can be intoxicating. Collecting is fun, even if you lose money. You see, collecting isn’t just about making money (though it can be a nice benefit).

There wasn’t anything misleading about the coin or the advertising, and that’s my usual metric for blocking ads. They wanted me to remove the ad and I considered doing so at first, then reconsidered. I had an intriguing interaction with a reader who complained that this site had an ad for a coin that was a bad investment.