Where Do You Sell a Coin?

[wswhiting]

A newbie question. If you wanted to sell a coin/coins, where is the best place. E-Bay seems iffy. Are coin shows good? What about coin dealers? Thanks!

 

[NHBandit]

Not sure why you think Ebay is iffy. You will almost always get more than what a dealer will pay. Start your stuff at the least amount you would take and no reserve. You might get pleasantly surprised.

 

[huntsman53]

I agree with NHBandit! Although many folks do, you would never really want to sell your' coins at a Coin Show unless you have an extremely rare coin and you know that a Collector or Dealer at the Coin Show will pay a fair price or premium to obtain it. Coin Show Vendors (Coin Dealers, Silver Buyers, Grading Services companies, etc.) at the bigger Coin Shows, pay anywhere from $100 to $500 a table and most of them get 4 or more tables per Coin Show and some even have up to 10 tables. At these rates, a Coin Dealer cannot pay much for any coin or coins as they need to recoup some of the costs. Sometimes, you will find some folks locally that collect coins and will pay a fair price for them. However, from newspapers and Craigslist Ads, you will see that there are many folks out there that take advantage of other's misfortune and/or ignorance. Stay away from these folks as they want to purchase Semi-Key, Key Date and other valuable Silver coins that may be worth hundreds or even thousands of dollars each at prices based on Silver Spot. Ebay is probably your best bet but even then, it is not guarateed. Research what you are selling and the best way to present it/them on eBay in an Auction, then list the coin or coins the cheapest way possible on eBay to keep the fees that you have to pay at a minimum. eBay allows a lot of pics nowadays for free, so use them to really show of the coin or coins and write a great item description for the coin or coins. Really talk it up (actually write it up) but just don't lie about what you are selling. Be honest and don't stretch the truth and you should do well.


Frank

 

[Beachkid23]

We went to a lcs here, they offered $9/Morgan. They sold old eBay $28-$45 each. All starting at .99 cents no reserve. With $3 shipping. One worn out one did sell for $21. Still better the $9!! Same lcs said the 6 paper bills I had were worth $100. They sold for $1100 total on eBay. Join TreasureNet and sell them here?

 

[DeepseekerADS]

In my experience as a long time collector, when dealing with coin dealers you will find that coin grading is subjective depending on whether you are buying or selling.

For a premium coin, it has to be slabbed and professionally graded - and then you are only dealing with the purchaser's profit motivation.

 

[huntsman53]

In my experience as a long time collector, when dealing with coin dealers you will find that coin grading is subjective depending on whether you are buying or selling.

For a premium coin, it has to be slabbed and professionally graded - and then you are only dealing with the purchaser's profit motivation.

This is very true but when selling, a Coin Dealer will make sure that that subjectivity of grading comes out to their' advantage! I couldn't tell you how many times I have sold or attempted to sell coins to Coin Dealers and they always try to undergrade my' coins so that they can get them at a much better price. I may not be an Expert Coin Grader but I am much better at grading coins than most and I never fall for that game as I carry a copy of "The Official American Numismatic Association Grading Standards for United States Coins" with me. If a Coin Dealer disagrees with a grade, then they better be able to prove it to me and I am not even from Missouri!


Frank

 

[Joe777Cool]

Yes Ebay is iffy. I hate it when I sell things for 2-3 times more than I could locally. worst part is my local supermarket only lets me get $200 cash back on my Paypal debit card so I usually have to buy multiple $1 items to get all my cash. Then there is the whole thick wallet problem.....thats a story for another day.

 

[wswhiting]

Selling

This is very true but when selling, a Coin Dealer will make sure that that subjectivity of grading comes out to their' advantage! I couldn't tell you how many times I have sold or attempted to sell coins to Coin Dealers and they always try to undergrade my' coins so that they can get them at a much better price. I may not be an Expert Coin Grader but I am much better at grading coins than most and I never fall for that game as I carry a copy of "The Official American Numismatic Association Grading Standards for United States Coins" with me. If a Coin Dealer disagrees with a grade, then they better be able to prove it to me and I am not even from Missouri!


Frank

Thanks! My comments about E-Bay are not based on any experience selling coins. I'll give this a try. Assuming of course I find something that has any value! So far, I've only found two wheaties, a 1947 in very poor condition and a 1948 of which 371 million were minted. LOL.

 

[Iamrussell]

If youre on Facebook there are several groups that have auction days and are buy/sale/trade/swap groups- look into them

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just keep stacking, just keep stacking, stacking stacking stacking

 

[Jim Coulthard]

Ebay is fine and they only charge a 12% to 15% sellers fee. And do not forget to keep all your slips as Ebay sends a report of all sales to the IRS for your federal income taxes. Another place to try is Great Collections as they only charge a 5% seller fees.