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Coin Selling ... What Are The Steps?

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New Member

Jamaica
1 Posts
 Posted 09/19/2006  4:51 pm Show Profile   Bookmark this topic Add heru to your friends list Get a Link to this Message Number of Subscribers
Hi,

I am very new to coins. I have few coins from UK, Jamaica, india and few others. They are of 5 - 10 years back coins. How and where to sell them?

thanks.
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Susanlynn9's Avatar
United States
5877 Posts
 Posted 09/19/2006  5:07 pm  Show Profile   Bookmark this reply Add Susanlynn9 to your friends list Get a Link to this Reply
Welcome to Coin Community.

You can put them up for sale here on the forum once you have 50 quality posts. Without pics and more details about what you have, I cannot give you an estimate of worth.
Pillar of the Community
Australia
3831 Posts
 Posted 09/19/2006  9:39 pm  Show Profile   Bookmark this reply Add gxseries to your friends list Get a Link to this Reply
Actually if they are recent coins, chances are that they are just worth face value, i.e. it costs more to send those coins to someone else's place and not worth your time.

You might as well consider starting them as a collection.
My partial coin collection http://www.omnicoin.com/collection/gxseries
My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm
Regularly updated at least once a month.
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toast's Avatar
Australia
1091 Posts
 Posted 09/20/2006  01:16 am  Show Profile   Bookmark this reply Add toast to your friends list Get a Link to this Reply
Modern coins, unless in mint condition, tend to be worth only face value as they are minted by the millions.

If you were going to try and sell them you need to list the details of of the coin... 1.Country, 2.Denomination (face value), 3.Year as well as 4.Condition of the coin (here a picture is worth a thousand words).
Yep, postage is often a killer when trying to get a buyer for the coins, so often selling them off in a group package saves on postage.
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Meiji03's Avatar
United States
33 Posts
 Posted 09/20/2006  01:40 am  Show Profile   Bookmark this reply Add Meiji03 to your friends list Get a Link to this Reply
oooo... that's a beautiful [Edited by Susanlynn9 to keep to family-friendly guidelines].
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Sap's Avatar
Australia
16832 Posts
 Posted 09/20/2006  02:05 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
Your main options for selling are:
- Your local coin dealer. Look up "coin dealer" in the phone book. Advantage: quick and simple (if there's a dealer not too far from you). Disadvantage: "shop front" dealers won't necessarily offer you the best price - after all, running a business isn't cheap, and they have to make a profit somewhere.

- Open a stall at a local flea market, car boot sale or similar such. Advantage: you can set whatever price you're happy with. Disadvantage: time-consuming, and there's no guarantee any collectors interested in your particular coins will find you.

- ebay or some such similar online store. Advantage: potentially, best price - you're selling direct to the collectors who want your coin, without a "middleman". Disadvantage: you have to be computer-literate and know how how to put together a successful sale on ebay while avoiding the "traps". There are plenty of ebay sellers around on this forum to give you advice if you choose this path.

- Auction (as in an "old-fashioned", real-world auction, rather than ebay) - this is best if you've got a lot of coins (say over a thousand dollars worth) or a few rare, high-value coins. Advantage: prices usually better than a 'store-front' dealer, and all the coins are disposed of at the same time. Disadvantage: you have to wait until their next auction is held to get your money, and it's only worthwhile for large and/or valuable consignments.

Whichever way you go, you might want to buy or borrow a copy of the Krause catalogue of world coins - that will give you some idea of what your coins will be worth. Meanwhile, if you have any queries about values and grading of specific coins, please feel free to ask here on the forum.

Posting a picture will help a lot - and you can use the picture later to sell the coin on ebay if you wish to go that way. There are plenty of tips on coin imaging and photography right here on this forum.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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