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How to Sell Coins on the Internet

Selling coins on the Internet can be safe and profitable if you take a few precautions. Internet auction websites, like eBay, allow you to reach coin collectors all over the world who are looking for your particular coins. This enables you to get a higher price since those who want your coins compete against each other to buy them. There is always the risk that the person you are doing business with on the Internet will try to cheat you. However, carefully screening of prospective buyers will help you avoid problems.

Instructions

- 1
  Properly identify your coins. You must know the country of origin, denomination, year, mint mark and grade. Take note of whether the coins are of any special variety or have any special characteristics. It is important to be honest and accurate with this information.
- 2
  Look up what your coins are worth. There are many websites containing coin price guides on the Internet. This gives you an idea of what your coins are worth, but keep in mind that these websites list average values. Your coins could fetch a higher or lower price.
- 3
  Set up an eBay account. There are other auction websites on the Internet, but eBay is by far the most popular with coin collectors around the world.
- 4
  Create an auction listing. Include an accurate description of the coins you are selling and photographs of both sides of the coins. Set the auction length for at least seven days to allow bidders time to see your auction. If you are concerned that your coin will not attract enough bids to get you your desired price, establish a reserve amount. This prevents your coins from selling lower than the price you set.
- 5
  Request payment from the winner when the auction ends. Paypal is the fastest and most reliable way to exchange money through eBay, but you can also request a check or money order. Allow the buyer no more than seven days to deliver payment in full.
- 6
  Hold on to the coins until the buyer has paid in full. Make sure that all Paypal transactions are final and that all checks have cleared the bank. It is perfectly reasonable to wait a week or more for a personal check to clear.
- 7
  Mail the coins to the buyer once payment is received in full. Package the coins carefully so they survive transit. Be sure to insure all packages so that you are not blamed for loss or damage.
- 8
  Follow up by leaving positive feedback for the coin buyer. Ask for positive feedback in return. The more positive feedback you have on your eBay account, the more likely people will trust you. The more they trust you, the more likely they will bid on your coins.

Coin Collecting