How to sell rare coins
Whether you ‘ve inherited a collection of coins or spend years assembling an impressive solicitation, there may come a time when you wish to sell your coins. For many with little experience of selling collectables this can be a daunt process .
When researching how to sell rare coins, the internet tends to be the first resource people turn to. Online auction sites are constantly a popular port of shout 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 inevitably designed to help you achieve the best possible price.
Warwick & Warwick has been in business since 1958 and our team of coin experts are constantly dismayed when we hear tales of valuable coins sold for a divide of their real worth by inexperienced sellers .
To prevent further grief, we have compiled this usher to help anyone who is considering how to sell rare coins but has no theme where to start. We hope you find it instructive, but it should be used for guidance only .
To obtain a FREE coin evaluation, please get in partake 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 only when you know its true measure can you appreciate how your investment should be marketed .
Every sidereal day, we receive enquiries from collectors around the world who are intrigued about a classifiable coin in their possession. They often want to discover more about its design, origin and history. But ‘How a lot is my mint worth ? ‘ is the most park interrogate we are asked .
Whilst this is always a difficult one to answer, take a expect at our in-depth How To Value Old Coins lead 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 measure what are actually rightfully rare coins .
once you have an accurate reason of a coin ‘s value, you can decide what figure would be ‘reasonable ‘ if you were to sell, and you will need to choose the best place 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 entirely outlet or business with a physical store location, coin shops will be pleased to make an offer for your coins. They ‘re a business, however not a jacob’s ladder – and will factor a substantial profit allowance into their offer. They ‘re big for securing a promptly sale, but expect to receive between 20 to 40 per penny less than true marketplace value .
Coin shows: Held at diverse locations throughout the UK, these events are popular with coin dealers and collectors alike, making them a commodity station to meet with numismatic enthusiasts. Selling at mint shows can deliver mix results, though, because dealers will not have the opportunity to research your coins .
Online coin dealers: This is a good room to get in partake with people who actively buy coins – normally cursorily and efficiently. But to maximise your retort, you need to match your coins with a dealer who has similar interests .
Online auction sites: Although sites like eBay give you access to a cosmopolitan audience, the fees charged to list an detail with a ‘reserve ‘ fee are expensive. If no reservation is placed on an token, you run the risk of losing it for a divide of what is it actually worth. Buyers may besides be loath to pay a premium for an detail they have been ineffective to inspect at beginning hand .
Coin dealers: A great generator of information, coin dealers are exchangeable to collectors in so far as they tend to specialise in a certain area of numismatics. Like every retail business, they will entirely pay a wholesale or discounted price to allow them to sell your coins on for a net income. They ‘ll help you secure a agile sale, but do n’t expect to achieve the best price possible .
Auction houses: Coin auction houses offer a high charge of exposure by combining live auctions with internet and call 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 worldly concern .
An auction house will charge a seller ‘s fee to place an detail in a sale, which is either a flat fee or a share of the sale respect. At Warwick & Warwick, we charge a 17.5 % commission charge plus VAT for a sale by auction on lots reserved at no more than 60 % of estimate, a sum deduction of 21 % of the hammer price. There is no extra charge for policy, lotting, evaluation or transportation .
even after taking into report committee, it is frequently possible to yield a better return 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 dependable price, but a Private Treaty Sale can remove the uncertainties of the auction room and allow sellers to know precisely how much they will receive. Because private treaty sales are not subject to commission, they do not incur any early charges such as policy or department of transportation and seller ‘s fees.
At Warwick & Warwick, this type of sale is underwrite by us and based upon a fair and accurate current market evaluation. If a seller chooses to accept our figure, they sign an teaching form and a cheque is sent out deoxyadenosine monophosphate 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 frequently reduce its value – so 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 grade 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 ad in one of them. There are army for the liberation of rwanda safer ways to realise a coin ‘s value .
Don’t go to a pawn broker: Pawn shops and ‘cash for gold ‘ stores might give you cash up front, but they will only always pay a fraction of your coin ‘s true value – before selling them on for a substantial profit .
Three ways to get a free coin valuation
Established in 1958, Warwick & Warwick is a member of the three most highly-recognised craft organisations in our industry and our in-house experts boast years of numismatic experience .
We can provide a free mint evaluation in a number 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, previous sale catalogues and a database of information concerning late realisations and sale prices. Our accounts office in Chester can accept coins for exile. Callers are always welcome by date during normal office hours – 9am to 5pm from Monday to Friday .
If required, we can arrange to collect your material from your home so that you can take advantage of our professional expertness .
Advisory Days: We regularly oblige valuation roadshows throughout England, Scotland, Wales and Northern Ireland where you can meet our experts and lodge your property for evaluation. Visit our advisory days page immediately to discover when we ‘ll be in your area – a convenient solution for anyone who ‘s wonder : Where can I sell old coins near me ?
Home visits: If you own a large mint collection, it is possible to visit your dwelling to conduct a exempt valuation at a time that ‘s convenient for you. Please contact our mint experts to arrange a suitable date .
Please note: We do not charge for any of the services mentioned above and there is no obligation to sell after obtaining a free evaluation. For more details, please get in touch or read our How much are my coins worth? guidebook 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 important to know the on-key value and understand the sales platform which will attract the best likely consultation 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 closely monitor their impingement on realize prices .
Whether you choose to sell to a trader, via an on-line auction site, through a individual treaty sale or in a traditional auction house ; a coin is alone worth angstrom much as person is bequeath to pay for it .
If you can generate interest in it from two passionate collectors, the price may increase significantly.
We hope this steer 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 a lot money as possible in return .
If you intend to sell a rare coin or old coins that may have a high value, we would always advise seeking professional advice before doing so. To obtain a detached mint evaluation, please call 01926 499031 and speak to one of our numismatic experts .
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