If you have to sell some repeating and extra coins as profitable and quick as possible, you better do it online using on one of the most popular numismatic resources – the web. Access to the Internet is available for numismatists from all countries, which means that the audience of buyers will be much higher. If you wait a bit and find a good customer, you can sell the item at an excellent price, higher than the banks and pawnshops are offering ( they reduce the cost by 30%).
Advantages of selling online
You can earn great money on a sale if you have a rare item in your hands. There is always a great demand for perfectly preserved old coins from gold and silver online, but it is important to identify the best place to sell coins. Your choice will determine how profitable the sale of a memorable or bullion coin will be.
Collectors, who are always aware of any events in the world of numismatics or price changes, are gathering on various platforms. Thanks to this, you can determine the cost of old coins at any time, without leaving home. This method is especially convenient for those who live in small towns and are very busy, not being able to attend the meetings of numismatists.
Do you know? Before the coin goes to the auction, it is examined by the experts (each resource values its reputation). They will read the description and look at the photos in order to make sure that the copy is authentic and has sufficiently high quality. The main criterion affecting the positioning for the auction is rareness and low availability in the country. In addition, the expert should make sure the price of the coin is not less than 75 euros. This is needed to maintain lots high quality at auctions.
Advantages of the online transactions:
- safety of sale;
- easy-to-use interface;
- better price;
- high speed and confidentiality of the transaction;
- lots of useful and informative services.
If you find a buyer online, you won’t have to meet him to complete the transaction. It is possible to send antique, commemorative or bullion coins within one country for free.
What resources are available for sale?
There are many ways to sell a coin online. The simplest option is to visit popular numismatist forums, where you can find out the approximate cost and offer your copy for sale. Such a resource collects the greatest number of people interested in rare items and specialists who know everything about interesting ones. Their help is especially useful if you need to prepare a coin for online sale.
To sell on forums you will need to make a few steps:
- take clear photos (preferably in macro mode) of both sides of a coin;
- post the evaluation in the appropriate section;
- wait for interesting suggestions;
- read the sales rules;
- put up for auction in the appropriate section.
Often the cost of a coin depends on such indicators as condition, circulation, year of issue, mint, and metal. If you cannot determine the price from the photo, you can find the approximate prices in the world’s catalogs of gold and silver coins.
Do you know?
Popular precious coins for sale are the American Gold Eagle and American Buffalo, Canadian Gold Maple Leaf, South African Krugerrand, Austrian Philharmoniker and Chinese Panda. If you want to preserve the value of these coins, you should protect them from damage and store them in their original packaging. This method will help to avoid mechanical damage. Otherwise, the price will drop by 30%.
The only disadvantage of selling coins on the forums is the chance to run into a counterfeiter or reseller. To prevent this from happening, you should trust only proven resources and customers with a high rating.
Another way to sell coins profitably is online auctions. There are many thematic resources on the Internet, where you can quickly find a client and sell any items, from antique coins to commemorative ones. Before you put a copy for sale, you need to read the rules and requirements, the order of bidding, payment, and delivery. Sales can be done by the registered users who indicated their full name and phone number.
In the description, it is necessary to provide complete information:
- the condition of the coin;
- whether it was in the ground;
- whether cleaning was implemented.
After the moderator approves the photos and description, you can set the minimum bet by yourself (it should be adequate). Before you sell a coin at the online auction, you can use the function of online coins evaluation. If the item is really valuable, its cost can increase significantly.
Do you know? Back in 2008-2009, in the midst of the financial crisis, the demand for gold coins increased so fast that the national mints could not produce enough coins. As the demand was increasing, the counterfeiters who wanted to sell counterfeit coins online appeared.
The disadvantage of selling coins on the online auction is the resource’s commission. It can be from 1 to 10% – depending on the value of the lot. Sometimes the commission is taken not from the owner of the coin, but from its buyer. The delivery is carried out at the seller’s expense, but first you need to specify which methods of transportation they should not use.
There are less popular resources where you can sell old and modern coins online. You can find a buyer on the social networks or international and local bulletin boards (e-bay, avito). But the risk of being deceived is too big. Collectors rarely visit such places, but there are a lot of scammers involved in different kinds of fraud, from not paying for the coin to underestimation of the real worth of a coin.
In order to understand the best and most convenient way to sell an antique coin online, you need to determine its weak and strong sides. The cost depends on the appearance (well-preserved relief, the absence of cleaning marks), rareness (the smaller the circulation, the more expensive the coin is) and the situation on the market. After evaluating the coin, you need to check it for defects. Holes, scratches or fingerprints on bullion copies will reduce the price by 20-30%.
The following conditions will help sell a coin at a high price:
- auction format;
- no cleaning marks;
- high-quality photo;
- good reputation;
- additional services (blitz-price, antisniper).
If you don’t want to spoil the appearance of the coin and raise its value a little, you can send it for grading to grading companies. The professionals with experience will check the appearance of the coin and give you an evaluation based on the Sheldon scale (from 1 to 70, where 70 is the highest score), and then pack the sample in a special protective container – slab. This method will increase the coin value by 10-15%. Many buyers know that buying coins in the slabs online is safe.
Do you know? Selling rare antique coins requires more effort and experience. Two coins may look the same but have completely different ratings. The difference can be up to a thousand dollars. In order not to lose this money, it is better to get a professional assessment from a grading company. Having a certificate of authenticity creates fewer problems when selling rare coins, especially if the seller is a beginner and does not have ratings on auctions.
Rules of sale and shipping
Before selling coins, it is necessary to determine the mechanism of payment (by electronic money or cash on delivery) and shipping (envelope or parcel). If you send a precious copy by mail, you should not save on packaging and delivery. It is important to ensure that the envelope is dense; otherwise, its damage can lead to loss of the coin. The best option is to send as a valuable letter and insuring it. If the mail loses the envelope, then the liability will be on the organization.