Tips For First Time Coin Sellers

Selling coins is a little different than purchasing coins. If you have been collecting coins for a while, and have decided to finally sell some of your coins, these tips will help you through your first through sales. 

Have Your Coins Properly Attributed

The first thing you need to do is make sure that you really know what you are selling. You don't want to sell a coin only to realize later that it was even rarer than you thought and worth a lot more than you realized. 

Make sure that you closely inspect your coins and figure out exactly what type of coin you have. If you need assistance, you can have a professional organization such as the NGC attribute it for you, or a trusted collector friend. 

Research Prices

The second thing you need to do is price your coin. Look at the price that your coin has been selling for recently at auctions and coin fairs. Use that information to determine what the best price is for your coin. You should also see if your coin is currently trendy or hot. Sometimes certain coins become more popular for short periods of time; if you can take advantage of that, go for it.

Clean Your Slabs

It is natural to clean your coins when you are getting ready to sell them. However, it is easy to overlook your slabs. A dirty and rundown slab can easily turn away a potential buyer. Make sure that you clean the slab you will be displaying your coins on as well as the holders that they are in. Cleaning the entire package will help you sell your coin for what it is really worth.

Keep Your Reasons For Selling To Yourself

Do not share with other dealers or collectors why you are selling your coins. If you are selling some coins because you need money, there are dealers and collectors who will swoop in and try to force you to sell quickly. Usually this arrangement is not in your best interest. 

Don't Rush The Sale

Selling a coin takes time. You are going to need to have your coins properly attributed, cleaned and perhaps appraised. The seller you find may also want to have an outside party verify the worth of the coin.

Oftentimes when you rush the sale of a coin, you end up losing out on some of the money you could make if you had taken your time with the selling process. Selling coins, like buying coins, is a process. Contact local coin buyers for more information.