collectors item

Introduction

Are you aware of the potential opportunity waiting for you in ventures that require you to sell coins? On the other hand, did you know that many people around the world who have taken selling coins as means for a secondary income?

Well, I think you are already aware of the potential this industry has to offer, but not come across a real opportunity that you can turn into a viable source of income that selling coin has to offer. 

The following are guides that you can think about if you plan to sell coins for profit.

Appraise your coin collection.

You need to appraise the value of your coin to give you an idea how much it worth.

Whether you only have a single coin or more, do not sell or trade gold coins without an unbiased professional appraisal. Because the appraised value of your coin may be far greater than you assume. At the very least, your coins are worth the going rate of the actual gold weight.

Take inventory of your collection.

Coin buyers seek particular pieces, so to trade your coins for cash you need to have an idea of how much it worth. Obtain an up to date pricing guide for precious metals. Study the inscriptions to find out the year, country of origin and face value. Catalog each coin in a journal for appraisal.

How to determine the value of your coin

 

Look for the highest bidder

You can look for coin dealers, pawnshops, auction, and collectors choose for a buyer who can give a good offer but always be careful and make sure to back check the person you are dealing with to make sure that he or she is not a fraud before making a deal.

Complete the transaction.

If you already found the right buyer, and you already secured payment arrangement, go through the actual inventory together. Make sure to compare the journal for accuracy. Ask someone you trust to be present during the transaction to avoid any discrepancies, no matter what the method of payment, confirm the account, and close the deal.

                                                             How To Sell Coins

Selling Gold Coins.

As the values of currency go down, the price of gold tends to go up. You can profit from this pattern in a variety of ways.

Things to remember, watch out for gold-plated coins. Just because it is gold plated does not mean it is worth lots of money. The actual gold is a very, very thin layer on top of the coin, making it worth less than pure gold coins. 

How to identify a gold coin

Evaluate the condition of a particular coin.

The condition of a coin, greatly affect its value. Dealers and collectors grade coins according to their condition. Coin whose condition is describe as extremely fine (EF), extremely fine, to very fine (E/VF), very fine (VF), and fine (fine). Familiarize the process of coin grading before selling.

Keep track of gold value.

Most newspapers report the price of gold daily, and you can get almost instantaneous updates online at several sites.

The value fluctuates regularly, so watch for unusual activity and world events, as they may affect the rate.

Gold Coin Outlook 2012

Selling Silver Coins.

Like gold, silver has many investment asset options as well as a strong presence in a market where most other forms of investment are questionable.

Likewise silver is the best and the safest alternative to dollars and gold—most see the dollar in a downward spiral, and gold is expensive.

Silver investing offers the ease and accessibility of an incredible opportunity in a system without much left for the masses. Try to figure out what the possession is worth. Only if the seller has a mental idea of the worth of the silver coins will he be able to get a good bargain for it. Chances of being ripped off are minimized.

The price of silver frequently change, so check the market rate and also wait for the prices to go up before selling.

Try the different selling options. Like pawnshops, jewelers, collectors, and dealers that purchase silver items, which are willing to pay good money for the items.

Online trading companies are also available to the sellers nowadays. Many of these online stores also are in the business of buying and selling coins.

Find the quotes from different sources for selling silver coins. Find the right buyer who offers the best price with the least hassle.

Silver Coin Outlook 2012

Junk Silver Coins.

Junk silver coins.

Which may not be that popular, but still profitable.

These are silver coins sold in bulk primarily because of the lower silver purity in each coin. A coin is considered junk silver if it contains 40-90% silver as opposed to bullion coins which have 92% silver or even higher. The profitability of junk silver coins depends largely on the rise and falls of the spot price of silver. It works much like a stock where one can sell coins if the spot price is higher and conversely buy coins when the spot price is lower.

What is a silver proof coins

Rare and collectible coins.

Occasionally a coin investor stumbles across a coin based on its uncommonness.

The increase in price is depend on the numismatic value of the coin

Among the other factors that contribute to driving the price up, aside from rarity, are:

The overall demand.

The shape of the coin.

The history of the coin.

In many cases, low mintage volumes of certain coins in specific US mint locations also become a guiding factor for the profitability of coin ventures.

One thing to remember while selling coins is to do the homework. Learn all the facts about the coin itself and be aware of the value of the product. Always get it appraised by professional evaluator to give you a better idea of the real worth.