Coin collecting has been a popular pastime for generations, and many individuals end up with sizable collections. Often these have been inherited and spend years collecting dust on a closet shelf. What many don’t realize though is that even a small coin collection can amount to incredible profits. A seemingly worthless coin that’s smaller than a US Dime can fetch thousands of dollars at auction in the right condition.
Selling a coin collection can be a perilous process for the uneducated seller. Sadly there are unscrupulous buyers that will take advantage of uniformed and uneducated sellers. When looking to sell my coin collection, I avoid this pitfall by taking a few easy steps
• Avoid the online auction market
The anonymity of online auctions can be appealing for a number or reasons. Listed coins can be seen by a market far outside of the Houston area; in many cases it can even reach the international market. This can seem like a great way to increase opportunities for profits, but in the end fees and costs often outweigh profits. Auction sites take a large percentage of final sale values and shipping costs add up quickly, especially when coins are sold individually.
• Do research beforehand
When I decided to sell my coin collection, doing a bit of homework helped me net several hundred dollars extra. There are literally millions of coin varieties and many have worth far exceeding their face value. Knowing the approximate age, grade and mintage of a coin provides an excellent negotiation platform when it comes time to sell.
• Don’t alter the coins in any way
Common logic dictates that a shiny coin is indicative of higher grade, condition and value. This is often not the case when it comes to coin collecting. A cleaned coin can lose up to 90% of its value at sale. Even a light cleaning attempt can have a massive impact on profits. Coins that are corroded, toned or even just dirty should be left in their original states.
The final and most important step in selling a coin collection is to find a reputable buyer. There are thousands of options when selling a coin collection in the Houston area. Private parties, auction houses and even pawn shops will buy whole or partial coin collections. None of these entities usually have the knowledge or experience to fully appreciate and value a coin collection. When I was looking to sell my coin collection, I found that offers from local coin professionals were significantly higher than those from private individuals. Doing business with one of these established and reputable business is the best way to maximize profits and save on frustration.
9502 N Sam Houston Pkwy E
Suite # 105
Humble, TX 77396
Wilson Rd @ Beltway 8 behind Walgreens
Email: ProCoin@ att.net