Sell to Jewelers: A lot of high end jewelry sellers also deal in gold coins so you can approach them and sell to them but make sure you only deal with reputable dealers and not rogue sellers as they could employ deceptive tactics to switch your original gold coins to fake ones without your knowledge and then return them to you. Sell Your Gold and Silver Bullion The sell process is easy and efficient, and we offer the highest buyback prices in the industry. Please call our toll-free number below for current prices on nearly any precious metal product. View the three easy steps to selling below, and note that our minimum purchase is $1,000.
The more popular the coin, the more likely it is that there are counterfeits and replicas of it. It was once thought that coins under $100 were too much work and money to replicate; however, coin collectors are now finding that Asia and elsewhere are creating fakes of all coins and denominations. So how do you tell if your coin is real?
Replicas: Replica coins are usually reproductions of famous coins or historical events. You can often find them at souvenir shops, and marketing firms may distribute them as tchotchkes. An easy way to tell if your coin is a replica is by examining the seam that runs around the coin where the two halves of the casting mold come together: they also generally have less detail than a real coin. Unfortunately, replicas are virtually worthless, so before you make the investment, make sure you examine the piece carefully.
Counterfeits: Unlike replicas, counterfeits are put out into circulation to 'trick' the public. Counterfeits are usually made of a worthless base metal, and can be easily detected if you know what to look for. Under close examination, counterfeit coins can have bubbles or pimples in the casting that can be seen under a magnifying glass. The engravings also won't match those of genuine mint. As coin collecting has gain more popularity, so have counterfeits. Forged gold coins are most commonly gold dollar and three-dollar gold pieces, or coins dated between 1870-1933. You may also find 1799 ten-dollar gold pieces, as well as 1811 five dollar coins. For silver, the most common forged coins are the 1084 Lafayette dollars, some commemorative half dollars, and the 1795 half dimes.
To confirm your coin isn't a counterfeit, compare your coins with others of the same kind. Confirm it's the same size, color, luster, weight, and has the same design details.
Alterations: Alterations to coins are usually done to deceive collectors. The coin may be altered by the addition, removal or change to the design of the coin, or the coin's finish could be altered by polishing, sandblasting, acid-etching, toning or plating of a genuine piece. The most common alterations are by changing mintmarks and dates.
To confirm your coin hasn't been altered, it's best to compare it to like coins under a 10x-40x magnifying glass as well as have an expert like, Sell Your Gold examine it for you.
Overall, coins that are rare or high in value should always come with a guarantee of authenticity done by a professional, and should be one of the first things you ask for before purchasing a coin.
Send your coin to Sell Your Gold today! We would be happy to examine and offer you a price. Not sure if it's authentic? As experienced coin buyers, we'll take care of that for you too! Click here to request a kit.
OK you've spent years possibly decades creating a collection. Kitty bingo. Or maybe you've just inherited a few coins from Grandma, Grandpa, or your Aunt Mildred.
Whatever the case may be you are interested in trading them in for for cash. Let me first tell you what not to do. Betvictor bingo. Don't take them to a pawn shop, don't take them to a 'Cash 4 Gold' type of store (unless they are Cull), and for heavens sake.don't spend them at face value.
First things first you need to find out how much your coins are worth. After you read this article use our site to manage your coin collection. Other options include picking up the Red Book (link fixed).
Do Not Clean Your Coins! Cleaing them automatically makes them worth less. A coin with a few small dings that has not been cleaned is worth more than a coin that has no dings, but has been cleaned.
Once you've gone through and figured out what your coins are valued at in a healthy market you will need to find a place to sell them. Rather than posting them on craigslist we suggest you sell them on a coin marketplace, or take them by your local coin dealer.
Let's look at the 3 main ways to sell your coins.
- 1.) Sell to a Coin Shop - Now the coin dealer is going to buy them for less than they are worth, and this is normal. If the guy/gal running the coin shop bought them for fair value then he couldn't sell them and make a profit. They are running a business, not a charity right? So how much less is the guy going to offer you? Well between 20%-40% less to give a fair range. Please allow the owner to explain why he is offering what he is offering, and if you think something stinks just leave. No big deal. Most shop owners however tend to be fair assuming you go there expecting to receive slightly less than the coins true value. If you are looking to get rid of lots of coins, really fast, then a coin shop may be a good solution. Don't be afraid to let the owners know (politely) that you are shopping the coins around to various shops.
- 2.) Physical Auction - You may want to find an auction and see if the auction house is interested in listing your collection. They will of course charge a fee either flat or a percentage of the sale value usually.
- 3.) Online Auction or Marketplace - This may be the best option in general for those who wish to get the most for their coins, and are not limited by time constraints. Selling your coins one at a time, over months and possibly years is the best way to get the most for your coin or coin collection. But where? We highly advise against using eBay or feeBay as many people call it. The fees to list and sell a coin on eBay are on the verge of outrageous. Just trust us on this one. Unless you are an expereinced eBay user skip them. So where do you sell online? We've listed a few sites below that are trustworthy fair alternatives to feeBay.
Fair Coin Markets
Great Collections
Found online at GreatCollections.com this site allows you to sell your coins with low fees. 0% for coins over $1,000 or 5% for coins under $1,000. They also offer grading, storage, and a healthy marketplace as of early 2013.
Teletrade
Found online at Teletrade.com this site also allows you to sell your coins with low fees, and offers a nice consignment option. They also offer cash advances, but we are not sure how this works, and so we suggest against it.
Heritage Auctions
Found online at Coins.Ha.com Heritage sells is the largest in terms of overall sales. They sell nearly 1 billion dollars worth of items (not just coins) each year. They are the 600lb koala in the room.
In Closing..
We hope that we have been able help point you in the right direction in terms of giving you a better ability to properly sell your coins, and hopefully get as much money as possible for them. Again be sure use our site to manage your coin collection. It's totally free, and very easy to use. It also has a nice feature that tells you how much the your total collection is valued at. Thanks for reading.
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