![]() ![]() There are two things for sure the rare coin business has changed dramatically and it is BIG business. For obvious reasons I am not going to publish our choices, but if you have a high-grade collection that you are interested in selling, give me a call and we can get together and discuss all of the possibilities. We work with a few, but we have one that garners most of our business. There is a difference in auction companies. The electronic world rules the rare coin market just like everything else. That doesn’t include our eBay business that we do 7 days a week. Our company sold or bought $6-$700,000 worth of coins through auctions in the last six months alone. Then you can bid, buy and pay without ever leaving your easy chair at home. Image Courtesy of: Joe Raedle/ Staff/Getty Images News/Getty Images Selling an item on eBay is as easy as 1-2-3. Now with a laptop you can sign the necessary agreements, view in fantastic detail the items you are interested in, talk to someone to answer any questions you may have. 01 of 07 Set up Your eBay and PayPal Accounts Selling coins on eBay and using PayPal to receive payments. There are a few different places to sell. This may result in fewer people making an offer to buy your coin, and the one who buys it may pay much less than you would get if you offered a guarantee on authenticity and/or at least a minimal return policy. Today’s electronic world has allowed coins to be made available to millions of people instead of a few thousand or less just 15 years ago. Something many coin sellers do is simply sell the coin as-is, no return. So you can see that auctions must be the way to go. Auction houses also tend to have relationships with collectors, which can make it easier to sell the piece. I don’t know about Stacks other than they proclaimed a record year and my agent there said one day in a conversation that one of their recent auction, probably ANA, did $130,000,000. Auction houses: An auction house can be a great way of selling valuable coins or collections, because it allows multiple bidders to drive up the final price. I read somewhere last week that Heritage Auctions did 1.4 billion dollars last year. I would venture to say that Heritage and Stacks/Bowers are by far the two largest but there are probably 4-6 others that you certainly must describe as formidable. In addition to many smaller online auctions and eBay, there are numerous national auction companies that have made auctioning off coins an art form. And while there are many major coin shows a year, the trading and chasing the ultimate dollar for coins has changed.Īuctions, both live and online, have dominated the rare coin business. That was the arena where we could hope for the greatest returns for our clients. The best way to sell your old coins to online dealers is to match the value of your coin to the dealers value range. Then we check to see what the rare coins have sold for recently. There we would have an audience of the top buying companies in the country who all have customers both collectors and investors that would be waiting with baited breath to see what treasures they were able to buy from me and my clients. We set those rare coins aside until we are completely done with all the other items. A few years ago, if my clients wanted to sell their investment (rare) coins, they would give them to us and we would take them to a large National Coin Show.
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