If you think you have rare coins that coin collectors would die to have, then you can sell it. But how do you know that they have value? Are you sure that they are genuine? How can you be so sure that the price you are selling it for is right? If you have questions like these that keep you from selling and making a fortune out of your rare coins, then you have come to the right place.
Here are some tips for you that will surely be advised by coins shop near me when selling rare U.S. coins:
Avoid Forced Sale Situations
Some buyers are greedy. If they think that you are in a desperate situation, they will automatically take advantage of you. Never tell someone, even if that person is close to you, that you need to sell a coin and you are looking for a fair offer. This can get you into a forced sale situation.
In most cases, this forced sale can cost you 20% to 30% of what you are supposed to earn, or even more. When selling a coin, it should take about 45 to 60 days, in fact, more if it is for an in-depth specialized collection. This will give you enough time to prepare the coin you are selling, to market it, and to give the buyer sufficient time to pay.
Timing To Sell Should Be Right
There are times when the traditional coin seasons are not that clear, but there are two best times within a year that you can sell your coins – the FUN show in January and the summer ANA around July or August. This is the same if you are selling the coin yourself or through a consignment or auction. You can get better offers if buyers are in the mood to buy the coins. You should never sell your coins when people are busy with summer vacation or when they are preparing for the holiday seasons.
Clean The Slabs
If you have dirty, scratchy slabs, know that it can cost you money. There are many sellers who don’t take care of their slabs and end up selling their coins or gold at a cheaper price when in fact, they could’ve sold it for a much higher price if only they were presentable enough to the eyes of the buyer.
Attribute The Coins
It is important that you take the time to attribute your coins. You can click here for info, or you can just send it to an attribution officer or your trusted collector friend who can attribute the coins for you.
Price Your Coins Fairly
When pricing your coins, make sure that you are not taking advantage of the buyer or you are not selling it for such a low price that you are not making a profit. Pricing a coin comes with a lot of factors to consider. The generics are easy to price, but for rare and very rare coins, it can be difficult. You have to take a look back at your recent auction records as your guide.
Selling your coins is not going to be easy especially if you do not know the ins and outs of the industry. So make sure that you know what you are getting yourself into before you take the leap.