How to sell rare coins
Whether you ‘ve inherited a collection of coins or spend years assembling an impressive solicitation, there may come a meter when you wish to sell your coins. For many with short experience of selling collectables this can be a daunting process .
When researching how to sell rare coins, the internet tends to be the inaugural resource people turn to. Online auction sites are constantly a democratic port of call and there are now hundreds of websites offering to convert your coins into cash .
It is significant to understand however that the huge majority of these on-line platforms are not necessarily designed to help you achieve the best potential price.
Warwick & Warwick has been in occupation since 1958 and our team of coin experts are constantly dismayed when we hear tales of valuable coins sold for a fraction of their real worth by inexperienced sellers .
To prevent far grief, we have compiled this scout to help anyone who is considering how to sell rare coins but has no idea where to start. We hope you find it instructive, but it should be used for steering merely .
To obtain a FREE coin evaluation, please get in allude or call 01926 499031 and talk to one of our experts .
Start by researching the value of your coins
Always remember that your collection is a valuable asset and alone when you know its true rate can you appreciate how your investment should be marketed .
Every day, we receive enquiries from collectors around the world who are intrigued about a distinctive mint in their possession. They often want to discover more about its design, origin and history. But ‘How a lot is my coin worth ? ‘ is the most park interview we are asked .
Whilst this is constantly a unmanageable one to answer, take a look at our in-depth How To Value Old Coins usher and you ‘ll be able to discover the most important factors to consider .
It is not strange for collectors to over value coins in their possession, but unfortunately, some people besides under prize what are actually in truth rare coins .
once you have an accurate understand of a coin ‘s prize, you can decide what calculate would be ‘reasonable ‘ if you were to sell, and you will need to choose the best identify to do just that .
What are the most common ways to sell your coins?
If you want to sell rare coins in the UK for the best possible price, the following seven methods are tried and tested by the numismatic community …
Sell to a coin shop: Whether they ‘re an on-line alone outlet or business with a physical storehouse placement, mint shops will be pleased to make an offer for your coins. They ‘re a business, however not a charity – and will factor a solid profit gross profit into their volunteer. They ‘re capital for securing a agile sale, but expect to receive between 20 to 40 per penny less than true marketplace value .
Coin shows: Held at assorted locations throughout the UK, these events are popular with coin dealers and collectors alike, making them a dear topographic point to meet with numismatic enthusiasts. Selling at mint shows can deliver interracial results, though, because dealers will not have the opportunity to research your coins .
Online coin dealers: This is a effective way to get in touch with people who actively buy coins – normally cursorily and efficiently. But to maximise your render, you need to match your coins with a dealer who has like interests .
Online auction sites: Although sites like eBay give you entree to a worldwide audience, the fees charged to list an detail with a ‘reserve ‘ fee are expensive. If no substitute is placed on an detail, you run the risk of losing it for a divide of what is it actually worth. Buyers may besides be loath to pay a bounty for an item they have been unable to inspect at first hand .
Coin dealers: A capital source of data, coin dealers are alike to collectors in so far as they tend to specialise in a sealed sphere of numismatics. Like every retail occupation, they will only pay a wholesale or discounted price to allow them to sell your coins on for a profit. They ‘ll help you secure a flying sale, but do n’t expect to achieve the best price possible .
Auction houses: Coin auction houses offer a senior high school degree of vulnerability by combining live auctions with internet and telephone bidders who are all competing for your coins. normally, they will have a database of people who are concern in the types of specialist items they sell. At Warwick & Warwick, we have an extensive list of coin collectors, dealers and numismatists who live in the UK, Europe and around the world .
An auction house will charge a seller ‘s fee to place an token in a sale, which is either a two-dimensional fee or a share of the sale prize. At Warwick & Warwick, we charge a 17.5 % commission agitate plus VAT for a sale by auction on lots reserved at no more than 60 % of estimate, a full subtraction of 21 % of the forge price. There is no extra charge for insurance, lotting, valuation or transport .
even after taking into explanation commission, it is frequently possible to yield a better render by selling your coins in an auction because it allows you as the seller to be closer to the retail price .
Private Treaty Sale: Selling coins at auction is an excellent way to achieve a good price, but a Private Treaty Sale can remove the uncertainties of the auction room and let sellers to know precisely how much they will receive. Because private treaty sales are not discipline to commission, they do not incur any early charges such as indemnity or transportation system and seller ‘s fees.
Read more : Top 11 how to use csgobig free coin code in 2022
At Warwick & Warwick, this character of sale is underwrite by us and based upon a bonny and accurate current market valuation. If a seller chooses to accept our figure, they sign an direction imprint and a check is sent out equally soon as this is received .
Four things you should NEVER do when selling your coins!
Do not clean your coins: You may be surprised to know that cleaning a coin can much reduce its value – therefore do n’t do it ! Consult a numismatic expert and, if appropriate, they will clean the mint on your behalf .
Don’t pay too much attention to online price guides: It is easy to misinterpret on-line price guides, particularly in deference of the marking standards employed .
Don’t try to sell coins in print media publications: Whilst there are some excellent specialist numismatic publications, we would not advise trying to sell your coins by placing an attend in one of them. There are far safer ways to realise a coin ‘s prize .
Don’t go to a pawn broker: Pawn shops and ‘cash for aureate ‘ stores might give you cash up front, but they will only ever pay a fraction of your coin ‘s dependable prize – before selling them on for a significant profit .
Three ways to get a free coin valuation
Established in 1958, Warwick & Warwick is a member of the three most highly-recognised trade organisations in our industry and our in-house experts boast years of numismatic experience .
We can provide a release coin evaluation in a count of ways :
In person at our offices: Most valuations are carried out in our Warwick showroom, where we can refer to a library of specialist literature, former sale catalogues and a database of information concerning holocene realisations and sale prices. Our accounts position in Chester can accept coins for transportation system. Callers are constantly welcome by date during normal agency hours – 9am to 5pm from Monday to Friday .
If required, we can arrange to collect your substantial from your home so that you can take advantage of our professional expertness .
Advisory Days: We regularly contain evaluation roadshows throughout England, Scotland, Wales and Northern Ireland where you can meet our experts and lodge your property for valuation. Visit our advisory days page now to discover when we ‘ll be in your area – a commodious solution for anyone who ‘s wonder : Where can I sell erstwhile coins near me ?
Home visits: If you own a big coin solicitation, it is possible to visit your home to conduct a free evaluation at a time that ‘s convenient for you. Please reach our coin experts to arrange a suitable date .
Please note: We do not charge for any of the services mentioned above and there is no debt instrument to sell after obtaining a release valuation. For more details, please get in refer or read our How much are my coins worth? guide to learn more .
Seek professional advice about your investment
If you want to sell rare coins in the UK, for the best possible price it ‘s significant to know the true prize and understand the sales platform which will attract the best likely audience of buyers .
The best way to stay up to date with current valuations is by continually buying and selling coins, as we do here at Warwick & Warwick, because you can notice any changes in collecting habits and close monitor their impact on realize prices .
Whether you choose to sell to a dealer, via an on-line auction site, through a private treaty sale or in a traditional auction house ; a coin is only worth arsenic a lot as person is will to pay for it .
If you can generate matter to in it from two passionate collectors, the price may increase importantly.
We hope this guide has given you a better understand of what you need to know before you sell your coins and ( hopefully ! ) it will help you get as much money as possible in render .
If you intend to sell a rare mint or old coins that may have a high value, we would constantly advise seeking professional advice before doing so. To obtain a barren mint valuation, please call 01926 499031 and speak to one of our numismatic experts .
back to Guides