Coin wholesaler, e-bay, craigslist.org, NumisMint.com are all great places to sell your coins, but before you decide, the more important questions  are who will buy your coins and how fast do you want to sell  them? After a couple minutes of reading you will know where to sell your coins to get the highest price.

Selling Coins Fast.

When selling your coins fast, you limit your options of buyers to coin wholesalers and dealers.

Coin Wholesaler – The coin wholesaler buys coins at rock bottom prices to sell for a profit. They advertise “we buy coins”, go to auctions, and local coin shows where they buy from unsophisticated coin owners who are in a hurry for money or don’t know the true value of their coins.

Retail Coin Dealers – Make a small profit selling to coin collectors. They buy from coin wholesalers and some of the same sources as “coin wholesalers”. Coin dealers may pay more for your coin than a wholesaler because there is one less middle man.

If you need to sell fast, use a coin dealer or wholesaler in your local area, but ask them if they belong to American Numismatic Association or the Professional Numismatists Guild. These organizations require them to subscribe to a code of ethics. You can find a local coin dealers or wholesalers in the phone book, news paper (look for we buy coins) or search Google.

Coin Collectors- coin collectors are the end owner of coins who hold them long term for appreciation or enjoyment. They pay a little more due to the fact that the coin sold to them has more perceived value. Coin dealers and whole sellers are looking for profit and will not see value in your coin collection as a whole; where as a coin collector will buy for self interest. Dealers give worst case scenario prices where as collectors give “that wheat penny completes my collection” prices.

After breaking down who will buy your coins, a quick bottom price sale will go to the coin wholesaler and a top dollar sale will go to a coin collector.

You must make an inventory of your coins and determine their top market value. This can be done with a copy of CND (Coin Dealer Newsletter) also called the Grey Sheet (printed on grey paper). Coin dealers use this as a reference when buying and selling coins. You will see coins listed as bid (buying Price) or ask (selling price), wholesalers and dealers use these prices when selling and buying coins from each other. All you want to do is take the higher number and add 10 to 30 percent (depending on Coin) for your selling price.

Now who do you want to sell your coins to? Right the collector. Where is the best place to sell to the coin collectors? The internet!  With web sites that let you display your coins and bring thousands of people to view them, anybody can sell to the coin collectors. Let’s go over the different avenues on where to sell you coins.

Consignment

Retail coin dealer who will put your coins on sale, or  consignment for a fee .This is not recommend unless the dealer proves that he will use all the other avenues to market you coin and save you the time trouble.  The fees should be in the 5-20% range depending on the value of the coin.

Auctions

Auctions come in many forms here is a quick rundown

Auction Houses – Consider this if your coin has a high rare value rare, but do your home work. Fees of 15% and buy back issues if the coin does not sell. In a good situation two bidders fight over your coin bring over market value.

Sight Unseen Auctions –  For graded slabbed coins. Cost include 15% commission, mailing expenses, minimum charges, etc. on lower priced coins.  A $25 coin won’t will only pay fees. Sell you coins here if they are ugly or slightly over graded coin, but slabbed. Teletrade is probably the best place.

Internet Auctions – Ebay is the king, the fees are small and the exposure is great and traditional coin auction houses such as Superior, Heritage, Cristies list on them. The only issue is time that perfect buyer (coin collector) may not come around during you bidding period.

Internet Classifieds – By far my favorite free and long term. You can list your coins and wait until the perfect buyer comes along. Sites like craigslist and backpage limit you to a local area where as numismint lets you display coins to the world until the coin connoisseur dreaming of your coin comes along.