Top 5 Coin Expert Tips – Advice for Selling Coins

“Top 5 Coin Expert Tips – Advice for Selling Coins” Written by American Coins & Gold on 8/22/18

We have a lot of experience when it comes to buying and selling coins. So, we figured we’d share our top 5 Coin Expert Tips we’ve come up with over the years. This list is comprised of the biggest tips we think might help the most people. These tips originate from us being in the coin collecting industry for over 20 years and come right from the coin experts that work at American Coins & Gold.

1) Never Get Pressured Into Any Deal

One of the unfortunate events we see happen is when people feel pressured during the coin evaluation process. This occurs when a coin collector or dealer has offered a price to purchase the rare coins or entire collection. When a buyer says they need time to think, some dealers will pressure them into making a quick decision. Do not fall for this intimidating and unethical sales tactic. Always remember you are the one with the power and make the final decision if you would like to sell some, none, or all of your coins.

The worst part about situations like this one is that it gives all coin buyers a bad names. The coin buyers who are looking to take advantage of sellers often will target people who are in desperate need of cash and come in saying that they “need to sell this coin”.  You deserve a fair and honest appraisal before making any decisions. After that, it is your right to accept or decline any offer at hand.

2) Do Your Own Coin Expert Research

Put yourself in the shoes of a coin expert and conduct as much research possible about the coins you have on hand. Yea, you might not fully understand every aspect of evaluating coins, but you can get a lot of good information if you look around online. See if you can find coins from your collection on credible coin blogs.

Many times coin experts will blog about different rare coins and how to determine if you have one. This usually comes up when a rare coin is sold for thousands of dollars and it leaves both the coin collector and the coin seller happy! One of them got a lot more cash than expected and the other is either building an ultimate collection or will profit even further off of the coin after reselling.

3) Watch Out For Fakes!

If you do happen to find coins from your collection online and they are worth more than expected, thats great! But always remember that many conditions go into the final selling price of a rare coin. This has to do with the coins condition as well as its authenticity.

Since rare coins are highly valuable items, unfortunately counterfeits do exist. Once you found out as much info as you could online and in books make sure to get an evaluation from a trusted coin expert to ensure its validity.

4) Choose the Best Selling Option

Since you can go a few different routes when it comes time to sell rare coins, its important to understand that each different option has its pros and cons associated with them. The first is to go the online route and to list your rare coins on eBay or Offerup. This is one of the most risky ways to sell your coins because of a few reasons. First, you are entering an auction environment which means high risk, long wait times, and fees. The pros are that if the right coin collector happens to get into a bidding war for your coin, you can get a great payout. But many times, we see people underpaid for their coins online. Also, without a proper coin appraisal there is now way to really know the best selling price for your specific coin based on its rarity, condition, etc.

The other route you can take is selling your coins in person, preferably to a coin expert. Not everyone is created the same in this department. For example, selling to an individual you do not know has any credibility might be dangerous. They could low ball you because of your lack of coin knowledge. Your best bet is to deal with experienced local coin dealers in a professional environment. We suggest you don’t meet up with that sketchy guy that messaged you online to meet at a Walmart parking lot to sell your coins. Bring them into a professional environment to get them the appraisal you deserve. If you decide you like to payout offer you can take it right on the spot! If not, you can always take the information you learned and use it at a later point if you ever decide to sell.

5) Enjoy the Process

While all of this may sound like a lot of work and factors to consider, it’s actually a lot of fun if you can enjoy the process. Whether you are interested in collecting coins as a hobby, or you have inherited a collection and are looking to cash out, the coin industry is a fun one. You can also invest in gold and silver bullion coins as a way to diversify your portfolio. There really is something for everyone when it comes to rare coins, and thats why we love them so much.

Oh yea, and getting paid cash for your coins helps too! If you need any help or have questions about your rare coins give us a call for an extremely quick answer (908) 575-9400. You can also email AmericanCoinsandGold@gmail.com a list of what coins you have and the prices being offered by other coin dealers so we can check if you are being treated properly & fairly.