For those who have been in the coin collecting business for some time, selling a coin collection is as natural as breathing, since they have been a buyer for many years. However, there are some individuals that have come into the possession of a coin collection that do not know how to sell a coin collection they want to get rid of. There are many different people and dealers that are in the market for prime coin collections so that it is fairly easy to find a buyer if certain steps are taken to prepare the collection for sale.
Steps to Take
There are several steps that need to be taken in selling a coin collection, which take time and effort that not everyone is willing to take, especially if the collection is inherited. The first step is to become informed of the value of the different coins in the collection. There are many books that contain this information, but it does take time to identify the different coins and determine what their worth is on the market today. A good Internet source for locating U.S. coin values is coinflation.com. In addition, there might by hundreds of coins that are not worth very much but need to be sold. These books tell how much these coins weigh so that the individual can weigh them instead of count that multitude of coins in figuring out what the coin collection is worth.
The next step is to do more homework, this time on the background of the different dealers that are on the market today that buy coin collections. Some of these dealers are affiliated with a professional organization, such as the Better Business Bureau so that the individual knows that they are legitimate buyers. There are some independent coin collectors that will buy coin collections. It is important to talk to these individuals beforehand to try and screen them for which ones are serious collectors and legitimate rather than a scam artist.
After that, the coin collection should be offered for bids by the different buyers. Not surprisingly, there are some buyers who do not want the coin collection from the person trying to sell their coin collection. There are many different reasons for this, such as the types of coins in the collection, and many dealers are very particular about what collections they invest in. Individuals trying to sell their coin collection should not give up, however, but should pursue other buyers until they have several bids and can decide to close the deal.