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How to Sell Coins for Profit

Many people have coin collections. Some of these coins may have been passed down by a family member. Other collections may have been hidden in the attic for years. If you are interested in selling your coin collection, it is easy to be confused about grading, wholesale pricing and where to sell the coins. Anyone can successfully sell their coin collection to collectors or dealers if they have the right information before they make the sale.

Things You'll Need

Coin reference and price guide

Instructions

- 1
  Research the type of coins you have. Some coins may be very common and not worth a lot in the numismatic community. Others may be quite rare depending on the year, mint mark or condition.
- 2
  Know what dealers are currently buying and selling similar coins for. Dealers buy at wholesale prices, but typically sell it back to collectors at retail prices. "The Official Red Book" of U.S. coins is a reference for retail prices while "The Official Blue Book" lists the wholesale values for dealers.
- 3
  Consider having your coins graded. This is not a requirement to sell to dealers and collectors, but having an expert grade the coin can help buyers know what they are getting.
- 4
  Choose the format you want to used to sell your coins. Common coins for those just starting a collection may get a better price with online auction sites. Uncommon and rare coins should be taken to a dealer or put up for auction at an auction house. This will allow many dealers and collectors to bid for the coin.
- 5
  Prepare the coins for sale if you are selling online. Take pictures close up to show the condition, mint mark and any other striking feature.

Coin Collecting