Selling to a Coin Dealer

Most people who visit a coin dealer site are going there to buy. Many dealers, however, also purchase coins. This is a great way to sell off any coins that you want to get rid of. In some cases, you may have inherited them or, perhaps, you have a collection that’s grown too large. No matter why you need to sell your coins, there is a place you can go to do just that. A good dealer makes sure that you don’t have to worry about getting anything but a fair deal when you make the sale.

Silver - Silver Bullion Bars - Buy Silver Bars - Buying Silver BarsA good coin dealer will generally have the spot prices for precious metals on their site. This allows you to see how much you’ll be paid for your coins or bullion based on the market price. If your coins have little numismatic value, the spot price will usually be fairly close to what the dealer will be willing to pay. If you have a coin that has a lot of numismatic value, the affair becomes more complicated. Rare coins used to be counterfeited extensively and, to a much lesser degree, they still are today. Dealers will want some verification that you’re selling a real coin.

A coin dealer will generally want you to have any rare coins you sell them certified before they buy. This allows them to be certain that they’re buying a real coin. This isn’t a one way street with these dealers, however. They also sell certified coins. This makes it much less complicated for them to make sales and ensures that their reputations are protected. Certification is done by third-party organizations and there are several of them. Make sure that any coin certifying service you use is respected and legitimate, however, before you pay to have them look at your coin.

In some cases, a coin dealer will also buy bullion. Bullion is precious metal that is not made into a coin by a mint and each individual piece is referred to as an ingot. These are much easier to sell than coins. The value of your bullion is calculated by multiplying the mass by the spot price of the metal that applies. Many investors buy bullion because of this simplicity. Coin collectors, on the other hand, tend to enjoy investing in bullion but also enjoy the historicity and the scarcity of their coins.

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