When you inherit a collection of coins or decide it’s time to sell your collection, it is often difficult to value what you have. This article aims to help you find the right coin dealer for your collection and help you sell that collection.
The first move to maximise what you will get for your collection is to take high-quality photos of the items and make a list of what you have. This will greatly reduce the amount of work the coin dealer needs to do and allow them to value your collection much faster and more accurately allowing for less uncertainty and a higher valuation.
The second thing you can do is contact a number of dealers and try and get valuations from at least two of them. This will provide you with two opinions of the value of your collection (which is subjective) and allow you to maximise what you receive for your coins.
Thirdly, it is important that you get an idea of the market value of your coins. The best and easiest way to do this is to go on eBay and look for recent sales. Just remember that you will have to take off 15% to account for eBay fees. This price will give you a realistic idea of what the market value is for these coins. Just remember that no dealer will pay the highest sold prices and are more likely to value the coins at the average sales price and discount those which are on the high end or too low end.
From a dealer’s perspective, the goal is essentially to buy the collection at a price that will allow them to make a profit on the resale of these items. Each item is unique and will warrant a different percentage. High-value items may attract a much strong offer than items that dealers feel will take a long-time to sell. Coin dealers also have to pay GST and dealers need to factor this in with their valuation.
The question becomes, what can you expect to get for your coin collection as a percentage of its retail value?
The answer to this is almost impossible to give. If the collection is of extremely high quality, a dealer might give you 65-75% of the retail value of the item individually.
However, if the collection is of poor quality or not re-sellable a coin dealer might give you nothing or might decide they need to take a far greater margin in order to justify the purchase. Just like coins, all collections are different and require different considerations.
If you have a collection you’d like to have valued or you would like to sell, please feel free to contact us through our purchasing page listed below.
https://ensleighcoins.com/pages/sell-your-coins