Any idea how to sell coins?

[jlb783]

It is kind of a silly question I know but I'm wanting to make a little extra cash. I'm just 14 and I can't get a job or sell stuff on the internet.

 

[seger98]

Do you have a local coin dealer? What kind of coins do you have? Can you post a picture of them?

 

[sasnz]

It is kind of a silly question I know but I'm wanting to make a little extra cash. I'm just 14 and I can't get a job or sell stuff on the internet.

Hello y cant you sell stuff on the internet??

 

[sasnz]

You can always try and sell them here if you are interested, I am sure their will be alot of members keen.

 

[jlb783]

Thanks, I don't want to sell them to a dealer because I don't think they will give me much and I can't sell anything on the internet because my mother is paranoid.

 

[Rd2nowr]

I know this is probally not what you want to hear, but hold on to your coins. The silver will just keep going up in value and you will be sorry later on in years to come if you sell them off now at such a young age. The coin dealers will rip you off and your mother has all the rights in the world to be paranoid. She's your mom and that's what Moms do! I'm 41 years old, married with two kids and a retired Army Ranger. My mother still acts this way! Just be glad she Loves and cares enough to be this way. Get a paper route or offer to clean the old lady next doors yards for some extra dough. Old people love to see young people who are willing to do yard work and this could also get you permission to detect their property! Good luck! Tim

 

[BuckleBoy]

People who are your age normally just "think" they need some money. Believe me--times can get much worse than living at home. And at those times, you'd wish you kept your coins.


Best Wishes,



Buckles

 

[jlb783]

I don't want to sell all of my coins, just a few and I know I am lucky to have a mother that cares a lot, and I have all types of U.S. coins and some foreign stuff

 

[stefen]

Give an example of the coinage you now have and want to sell.

 

[jlb783]

Morgan dollars, peace dollars, buffalo nickels, mercury and barber dimes, silver quarters, silver halves, indian head and wheat pennies, mint sets and maybe proof sets, and more.

 

[stefen]

Your getting some good advice which you shouldn't take lightly...

And also remember...moms run the world

If you are serious about selling coins or tokens, make yourself a business plan and list your assetts, the lowest real grade of each coin, the reasonable market value, then create a plan on how you want to sell your product. Selling may take several avenues such as Ebay, Coin Shows, Bid Boards and the like.

Always assume that you will scammed or ripped-off...with this in mind, you need to determine how you protect yourself from this eventual hazard.

Start small and build up as you grow.

Know your product.

know grading and current values.

When you make a trade or sale, do not jack your prices...you want yourself and the buyer, both, to feel as if they made a reasonable deal.

You will find that most of your business will be repeat buyers...and if you get too pricey, you will lose a potential buyer and word-of-mouth will kill any future business.

You want some good, sound, advice...ask anybody who responded to your post.

 

[jlb783]

Thanks Stefen.

 

[Old Bookaroo]

jib 783:

Is there a coin collectors' club in your area? If you could attend a few meetings, meet some other, local collectors, they should be able to help you.

You will do better trading than selling. I do not agree that coin dealers will "rip you off." Most dealers are ethical and in the trade for the love of coin collecting. They sure aren't going to get rich. However, like all other merchants, they must sell for more than they pay for their items. Generally the mark-up is 100%.

Is that a lot? it is for a supermarket that can have stock delivered in the morning and sold before lunch. A coin dealer might sit on a given coin for years before he can sell it.

Anyway, start by meeting local collectors if you can.

Good luck to all,

~The Old Bookaroo

 

[jlb783]

Yes there is a coin club here and I will attend their next meeting soon.

 

[jlb783]

And thanks for the advice.

 

[Steve in Cali.]

I know this is probally not what you want to hear, but hold on to your coins. The silver will just keep going up in value and you will be sorry later on in years to come if you sell them off now at such a young age.

Exactly right. Unless you need the money for something critical, like an operation or to save someone in your family...hold onto the coins.

If you have some good silver coins, they will only go up in value over the years. There's an old German expression about that kind of thing: "It's like having gold in the ground". Well, ok it's silver but still, you have it and it's not going to lose value.

Best thing to start doing now is learning about your coins from books and maybe joining a coin club. Don't ever sell to dealers. Maybe go to a coin show with your mom and show your coin to dealers there and see what kind of offers you get. You'll at least get a low ball number on the value of your coins. Don't tell them you want to sell the coins though. Tell them you have a couple coins you want their opinion on. Don't even ask about value. If they're interested they'll tell you.

Never hand over more than three at a time and keep your eyes on them the whole time. Have mom hang back behind you with a stern look on her face. A guy might not be intimidated by you but he'll be intimidated by her.

Over time you'll get a good idea of what your coins are worth. Don't ever be in a hurry to sell them if you want a good price.