How to Sell Old Coins: A Guide To Help Sell Your Coins
Collectible items can be very valuable. One of the most valuable and sought-after sorts of collectible items is antique coins.
It can be a very hard industry to get into if you intend on selling them because the retailers that already exist have forged names for themselves and dominate.
It’s still possible for you to break in, however, it will just take a little time and a little determination.
In this article, you will find a comprehensive, informational guide to selling old coins, so you can get started.
Online Marketplaces
Online marketplaces are always a very effective place for selling anything really. The most famous of them is eBay, but there are many more. In recent years, Etsy has risen in popularity and is taking over for antiques, collectibles, and curiosities.
If you intend on using an online marketplace, you need to consider your page’s SEO. If you do not have high domain authority—or cannot attract an audience to your page—then you will struggle to make sales.
If you are selling a niche item, like a coin spinner for instance, you should ensure that everyone looking to purchase a coin spinner can easily find your page.
By optimizing your page for the right keywords, you can increase your chances of making a sale.
Online marketplaces give you a place to sell your goods, but you need to reach your audience yourself, through marketing and careful page naming.
Buying Companies
There are companies that buy coins directly from collectors and traders. They’re often the best place to start selling coins because they usually give you the coin’s market value—or slightly less.
Even so, you should be able to make a profit by selling them, especially if you have inherited coins and aren’t treating selling them like a business.
The best part about these companies is that you can post your coins directly to them, saving you time and money. They will, of course, pay for your parcel’s postage.
They may even come and collect them for you. Once they have them, they will examine, verify, and then offer you a price for them.
Second-hand Shops
The next place you could consider looking to sell your coins is a second-hand shop. Second-hand shop owners are usually very enthusiastic about coins because they sell well.
The only downside to second-hand shops is that sometimes the owners try to get better deals than is perhaps fair, leveraging their knowledge over independent sellers. For this reason, buying companies are always better.
They have a set price that they stick to – they won’t ever try to get the better of you. Second-hand shops can be very difficult to barter in, also.
Market Stalls
If you have a large number of coins and want to turn your coin trading into a business, then you could set up a market stall at a locally run market.
Market trading is a very effective way of making money, especially if you have previous experience in buying and selling goods.
Market stalls are usually very cheap to rent and can be set up once or twice a week in large cities, and once a month in more rural areas.
In addition to having your own regular stall, you should consider setting up stalls at county fairs and coin fairs, which we will come to shortly.
Industry Networking
If you want to make a name for yourself and your business, then you need to network with other people in the industry.
By meeting people who are also involved in coin trading, you will forge links that could benefit your business and help you to find suppliers and people that will buy coins from you in bulk.
The best way to meet new people in the coin trading industry is to attend coin fairs to see what’s on offer. Collectors also come, to whom you can hand your card out.
Coin Fairs
Coin fairs, as we have mentioned twice already, are very useful places. Unlike country fairs or antique fairs, they are dedicated exclusively to coins. In these fairs, you can find collectors, sellers, and wholesalers.
Coin fairs are infrequent because they are a specialist type of fair. If you search for them on Google, you’ll likely find a full schedule of all of the fairs in your area. Remember, antique fairs are also a good place to sell your coins.
Familiarizing Yourself
Make sure to familiarize yourself with different types of coins. You won’t be able to turn a profit until you know how much your coins are worth.
If you don’t learn about different types of coins, then buyers and sellers will be able to take you for a ride.
Coin trading can be very lucrative if you take the time to learn the trade. As this article shows, there are many ways that you can sell coins.
Truthfully, the most effective methods listed in this article are buying companies and online marketplaces, but it’s entirely up to you how you choose to get rid of your coins.