Receiving rare coins as part of your inheritance can be both exciting and confusing, especially if you are not a numismatist and do not have a clear idea of what you may do with the coins. Let’s assure you, rare coins, when preserved in the correct way, can be worth thousands of dollars. If you have no interest in coin collection, consider selling them to a trustworthy seller like Legacy Coins & Collectibles. Some Libertads, Platinum Eagle coins, and round Buffaloes have the best purchase value for coin dealers. Coin collectors often underrate genuine or precious collectibles or overvalue the ones just because they are old. Therefore, to avoid being hoodwinked and financially ripped off, here are three essential tips to sell your prized collection at the best price:
Assemble All Your Collection in a Single Place
Gather all your coins in one place and begin with the inventorying process. Be extremely careful while doing it so that you do not lose or misplace one of the rarities. Handle your antique coins with care while cataloging and inventorying them to prevent scratches, nicks, or scrapes. Ensure that you have some of the coin collecting supplies like albums, protector pockets, and coin folders and holders handy to prevent damage.
Identify Your Coins
While identifying the unique pieces in your collection, divide them into several categories such as American coin, foreign coin, and exonumia. Take a closer look at the metal composition, images, engravings, and descriptions to identify the rare pieces. Sort gold, silver, copper, and platinum coins based on their value. Just because a coin is ancient does not mean that it is priceless. A copper coin may be worth a lot more than a gold piece. If you have antique US copper coins in your collection, they may sell for thousands of dollars!
Appraise Your Collection
Refer to “The Official Blue Book: A Handbook of US Coins” to get an idea of your coin’s worth, and which among your collection is priceless. You can also visit websites that have information about the mintage of most American coins. Our website and blog also include details to help you identify the best coins and their value. Do you own rare coins with mintages of one million or less? If yes, they have considerable numismatic value. Once you have sorted out the rarest of the pieces, focus on their standard size and make-up. That is because a dealer will examine your coins for their authenticity. Since a merchant will verify the real value of your collectibles, you should have some knowledge about them and do your homework to avoid being deceived.
Selling your gold and silver coins calls for some groundwork, research, and time. Therefore, learn to understand what your collectibles are worth to get the best price from a dealer. If you are planning to sell your rare collection, we request you to visit our coin store in Tampa or call us today for a free consultation.