If you own a single coin that is either rare or unique, or if you own an entire valuable coin collection, you may be interested in selling the coin or the entire collection to a rare coin buyer. There are many reasons people who are coin collectors (or people who own a single valuable coin) elect to sell them.
Some of the most common reasons people decide to sell valuable coins include: 1) they no longer have a desire to collect rare coins, and they want to liquidate their collection; 2) they inherited a valuable coin collection and would rather sell the coin collection than keep it stored in a safety deposit box for years on end; and 3) they own a single valuable coin, and they do not have an attachment to it, nor do they want to pass it down to their children and/or grandchildren – and they’d rather sell the coin for top dollar and have its cash value in hand.
If you are at a point of being ready to sell either an individual rare coin or an entire valuable coin collection, it’s incredibly important that you work with a rare coin buyer who is reputable and honest. Unfortunately, incidents occur every single day in which the owners of rare or valuable coins are taken advantage of by rare coin dealers that are not honest.
Following are two tips on how to get an honest appraisal of your rare coin or coin collection and how to find a reputable coin dealer who will give you top dollar for your items:
1. Don’t settle on the very first rare coin dealer you meet. It may turn out that you ultimately decide to sell your individual coin or entire coin collection to the first coin buyer you find. However, you owe it to yourself to interview several coin dealers before settling on one. Remember, there is no rule that says you have to use a coin dealer who makes you feel uncomfortable about the transaction or a coin dealer who is pressuring you to sell your rare coin or entire coin collection for a value that seems too low.
2. Know what you have. Knowing what you havedoes NOT mean you should make a generic list of the coins in your coin collection that looks something like this:
- 10 brown coins
- 20 silver coins
- 35 small coins
Instead, you should create a list of each and every rare and unique coin in your collection. Your list absolutely must be detailed and complete. Make sure to look closely at each and every coin, and then make a list that includes very specific details of each one. This type of list might take longer to complete, but it will only benefit you in the long run. An organized inventory will prevent you from getting ripped off, and it will allow you to have confidence that you are getting the true monetary value for each and every valuable coin in your collection.
There are many additional tips on how to get an honest appraisal of your rare coin or coin collection and how to find a reputable coin buyer. Our next blog article will include several additional tips that will help ensure you receive top dollar for your valuable coins if and when you decide to sell them.