Whats the best place to sell a coin to get its true value?

[Kiros32]

What's the best place to sell a coin to get it's true value?

Will coin dealers rip you off?

Thanks,
J

 

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[jglunt]

Re: What's the best place to sell a coin to get it's true value?

The true value of any coin is whatever someone else is willing to pay for it.

The "book" value is only a guide.

Dealers are in business to make a profit. There are many good ones and a few bad ones just like any other group.

Jim

 

[rsc]

Re: What's the best place to sell a coin to get it's true value?

Place an add in the CLASSIFIEDS Below........ see what you will get offered..... That is probably as close to reality as it gets.. HH Gayle

 

[gregl01]

Re: What's the best place to sell a coin to get it's true value?

Most dealers use a "Gray sheet" which gives them a ask price and retail price. Of course they will give you the lower of the two so they can make a profit, thats how they stay in business. This also means you may not always do your best this way. Sometimes Ebay is better but not always. Also you can do as others have said try the classifieds or set up a table at a local flea market. Do whats best for you!!!
Greg

 

[fiatboy]

Re: What's the best place to sell a coin to get it's true value?

Some dealers are sleazy, grifty old misers. Others are honorable, friendly professionals more than worthy to be merchants in the "King of Hobbies" and the "Hobby of Kings." A good dealer is worth more than his/her weight in gold.

 

[Zym]

Re: What's the best place to sell a coin to get it's true value?

My opinion? E-bay. People often times are willing to pay well over spot for junk US currency, and coins reach a huge collector audience. Remember you can also cancel an auction just minutes before it ends, so if it's really low balled you don't get taken. Remember, the last 5 minutes is the heaviest bidding time. I've had items quadruple there bid in the last minute. I never sell silver (just buy it, if your careful, and don't get bidding fever, you can get it for under spot including shipping) but if I found a coin MDing that had numismatic value, you bet I'd sell it and buy bullion.

 

[jglunt]

Re: What's the best place to sell a coin to get it's true value?

As a casual seller on Ebay, it's possible to cancel an auction early but you will still have to pay the listing fees. It is better to put a reserve price on the item ( a price below which the item will not sell).

Jim