College is very expensive, and if your child is coming up short on the money they need, they would not be able to start the semester. If you have a coin collection, you can sell it to prevent this from happening. Your child could then stay in college and you may have money left over for yourself. If you have never sold coins before, the below information will help you get off to a good start.
Have the Coins Valued
Before you sell the collection, you need to have it valued. This is very important as you may have very valuable coins and not be aware of it. This way you will not get underpaid.
Before you get started, purchase a coin book, and try to determine the value of your coins on your own. This can give you a ballpark figure. Separate the coins the book says are more valuable. The coins that are rarest are coins that were not mass produced. This is because it is very easy to get coins when there are a lot of them in circulation. It is also important that the coins be in good condition, as it can be hard to grade them if the coins are corroded.
Once you have graded the coins on your own, hire a company to professionally grade them for you. There are many reputable companies that can do this for you.
How Your Coins Are Valued
When the company values your coins, they will first look at the condition, which is referred to as grading the coin. They use a specific grading system to do this. Once they have graded the coins, they will determine if the coins are in high demand by coin dealers.
The company will determine the metal content. For example, if the coins have a large gold or silver content, they will sell at a higher price.
The company that values your coins will give you a detailed report listing each coin in the collection and what it is worth. This can be of great help to you when selling your coins. You may want to consider using more than one company that value coins to see if they come to the same conclusion.
Sell Your Coin Collection
Once you determine what your coin collection is worth, it is time to sell it. Do some research of reputable coin dealers in your area. Take your coin collection to them, along with the detailed report you received from the coin value company, and see what they will offer. It is important that you go to more than one dealer so you can get the most money from your coins.
You can also find online coin auctions to sell your coins. There may be physical auctions in your area if you do not want to sell the coins online. You will have to pay a fee for these auctions, however.
One very important thing is to never clean your coins before you sell them. This is because this will lower their value.Share