There are a lot of options available to you once you've decided to sell your bullion or numismatic coins.
Each option, however, comes with it's own advantages and disadvantages. Some factors involved in selling coins include:
- How trustworthy is the buyer? Will you feel confident with the price offered by the buyer?
- How is payment received? Do you need instant payment, or are you willing to wait for payment for a higher premium on your coins?
- What other costs are associated? Are there seller fees or shipping fees associated?
- How many coins will you be selling? When dealing with online outlets, you may need to meet a minimum sell mark to make the transaction.
Keep these factors in mind as you consider all the available selling options. Five of the most popular include:
Local coin shops can be a great option. You usually can receive instant payment, sell any number of coins and can usually trust that the coin dealer will know both the value of bullion and numismatic coins, and will give a generally fair market price, though perhaps not the highest.
If you need to offload coins fast and there's no coin shop around, you'll probably head to a pawnshop. These outlets can be a good option when you need cash quickly, but aren't always the best if you have valuable numismatic coins. You may get shortchanged on rare coins, and you can expect a lower return than at a coin shop.
eBay or Other Auction Sites
If you're feeling entrepreneurial, you can try your hand at selling your coins on eBay or another online auction site. These auction sites allow you to set the minimum bid price. The downfall of auction sites is that you may not get as much as you were hoping and if you sell coins piece by piece, you'll have to deal with multiple transactions. You'll also need to factor in seller's fees and shipping costs.
Coin shows can be a fun place to sell coins, especially numismatic coins. The downside is that coin shows aren't frequent, and may not be in close proximity, so it will take some advanced planning to make this option available. A great benefit of selling at coin shows, if one is around, is that you'll be able to have your coin assessed by several different dealers and choose the best offer.
There are many online coin dealers that buy bullion and numismatic coins, including Provident Metals. We offer some of the best rates on coins. Online dealers usually require a minimum dollar sell to consider your coins, so you'll need to take that into account, as well as the fact that you'll need to ship the coins and will need to wait for payment. Still, the higher payout you'll receive can make these transactions worth it.
Visit Provident’s sell to us page today and learn more about our simple three step process, or to get estimated purchase prices for your bullion or numismatic coins. Our purchasing department is available Monday through Friday toll-free at (800) 313-3315, 8:00am-4:30pm CST.