Finding the right coin buyers is the most important task for a coin seller. If you are new to this industry and want some guidelines about the selling process then you are in the right place. In the following paragraphs you'll learn how to find a good coin dealership and receive a fair price for your coins. No matter which type of coins you have, the following guidelines will apply.
Before you approach a dealer try to find out which type of coins yield the most profit:
- The first category consists of rare and collectible coins. Via your dealer you can sell these coins to collectors all over the world. Don't try to find a collector by yourself because it is almost impossible to do so, and is typically very time consuming. Because of the rarity of such coins, sellers can expect extremely competitive prices for these type of coins.
- Common coins with high precious metals content. There are many coins that contain up to 99% silver or 24-karat gold. These coins are valuable simply because of their precious metals content alone and any other characteristic such as rarity only serves to increase the value of these coins. Coin buyers are constantly on the lookout for these types of coins and anyone can turn a decent profit selling these valuable assets.
- Junk silver. These refer to silver coins that are of lower silver content than the more popular 99% silver coins. Still, 40% and 90% silver coins, among others, command strong prices in the coin market. Coin buyers are willing to buy these in bulk and are offer quotes that are primarily based on the prevailing spot price for silver.
- Scrap gold. While not coins, many coin buyers also purchase scrap gold, which is gold that is composed of lower purities. A common example is dentistry gold or the gold extracted from old dental fillings. You would be surprised to find that coin buyers will offer very competitive prices for this type of gold considering that the current price of gold is over $1,700 an ounce.
Anytime you plan to sell any of these items, but more particularly the coins mentioned above, you will need to keep in mind a few important considerations to help you choose which coin buyers are best to deal with.
- A lot of new coin sellers choose inexperienced dealers to save time and money. It goes without saying that doing this is very risky. You should only deal with a reputable business that has years of experience in the industry. This can also include reputable online coin dealers. Not only that, but the reviews provided by previous customers should also be positive. Only then you can expect to receive competitive prices for your coins.
- It is often a good idea to consider the services of more than one coin dealer. By getting advice from many sources you could learn a good bit about the value of your items. Also, multiple quotes will allow you to properly compare prices.
- Many good dealerships offer free coin appraisals to their clients. If a company is ready to appraise your items for free then you shouldn't worry about its reliability. A company that is only interested in making a quick buck rarely is willing to provide free appraisals.
Selling coins and precious metals is a great way to make money. If you invest your money in the right place and choose the right dealership you won't have to worry about being treated fairly. On the other hand, if don't follow the guidelines outlined in this article, you may not be able to find reputable coin buyers, thus potentially reducing the price that you receive for your coins and bullion.
Before you approach a dealer try to find out which type of coins yield the most profit:
- The first category consists of rare and collectible coins. Via your dealer you can sell these coins to collectors all over the world. Don't try to find a collector by yourself because it is almost impossible to do so, and is typically very time consuming. Because of the rarity of such coins, sellers can expect extremely competitive prices for these type of coins.
- Common coins with high precious metals content. There are many coins that contain up to 99% silver or 24-karat gold. These coins are valuable simply because of their precious metals content alone and any other characteristic such as rarity only serves to increase the value of these coins. Coin buyers are constantly on the lookout for these types of coins and anyone can turn a decent profit selling these valuable assets.
- Junk silver. These refer to silver coins that are of lower silver content than the more popular 99% silver coins. Still, 40% and 90% silver coins, among others, command strong prices in the coin market. Coin buyers are willing to buy these in bulk and are offer quotes that are primarily based on the prevailing spot price for silver.
- Scrap gold. While not coins, many coin buyers also purchase scrap gold, which is gold that is composed of lower purities. A common example is dentistry gold or the gold extracted from old dental fillings. You would be surprised to find that coin buyers will offer very competitive prices for this type of gold considering that the current price of gold is over $1,700 an ounce.
Anytime you plan to sell any of these items, but more particularly the coins mentioned above, you will need to keep in mind a few important considerations to help you choose which coin buyers are best to deal with.
- A lot of new coin sellers choose inexperienced dealers to save time and money. It goes without saying that doing this is very risky. You should only deal with a reputable business that has years of experience in the industry. This can also include reputable online coin dealers. Not only that, but the reviews provided by previous customers should also be positive. Only then you can expect to receive competitive prices for your coins.
- It is often a good idea to consider the services of more than one coin dealer. By getting advice from many sources you could learn a good bit about the value of your items. Also, multiple quotes will allow you to properly compare prices.
- Many good dealerships offer free coin appraisals to their clients. If a company is ready to appraise your items for free then you shouldn't worry about its reliability. A company that is only interested in making a quick buck rarely is willing to provide free appraisals.
Selling coins and precious metals is a great way to make money. If you invest your money in the right place and choose the right dealership you won't have to worry about being treated fairly. On the other hand, if don't follow the guidelines outlined in this article, you may not be able to find reputable coin buyers, thus potentially reducing the price that you receive for your coins and bullion.
About the Author:
Learn more about finding reputable coin buyers. Stop by Atlanta Gold and Coin Buyers' site where you can find out all about identifying trustworthycoin dealers.
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