How to Sell Your Rare or Valuable Coins
Selling a coin collection for maximum returns can pose significant challenges.Selling on Your Own
You might consider selling your coins independently. However, this route can be arduous without an established customer base. While you retain control over the sale, finding the right buyer may prove difficult, and the price achieved may not match that offered by reputable dealers. Nevertheless, the final price attained is what you receive.Selling at Auction
Another option is to sell your valuable coins through auction. Yet, auctions entail costs such as insertion fees (typically 10%) and buyer's premiums (often 22%). Consequently, if your prized collection sells for $100,000, you might only receive $90,000, with the retail value potentially reaching $122,000 when factoring in buyer's premiums.Auctions also carry the risk of achieving lower-than-expected prices, as auction houses prioritize sales over maximizing returns. This concern holds true for both auctions and consignments to coin dealers. Moreover, starting bids set too high can deter potential buyers, resulting in items failing to sell.
Selling to a Coin Dealer
Alternatively, selling directly to a reputable coin dealer offers advantages. At our establishment, we specialize in acquiring numismatic rarities. Selling to us eliminates the need to wait for an auction, and we can offer competitive prices due to our established customer base and absence of insertion or hammer fees.We recently purchased a substantial gold coin collection, with our margin totaling just under 10%. Compared to auction sales, sellers can fare significantly better, with potential losses ranging from 12% to 22%. In another instance, we facilitated the sale of remnants from an old Sydney collection, where the vendor stood to gain 20-25% more by selling to us directly.
Furthermore, we provide estimates based on previous sales history and offer resources for independent valuation verification as part of the selling process.