Consider creating a digital or physical inventory list to track your collection – this can be using a simple tool such as Microsoft Excel.Label and catalog your coins with essential information such as mintmark, date, denomination, and grade.Use coin albums, folders, or plastic coin pages to organize and display your coin collection.Sort your coins by factors such as type, denomination, country and era.Organizing and Categorizing Your Coin Collection: Grade coins based on factors such as luster, strike quality, surface preservation, and eye appeal.Refer to reputable coin grading guides, books, or online resources for assistance.Use good lighting and a magnifying glass when inspecting your coins. Examine both sides and the edges of the coin for wear, scratches, dents, and any other imperfections.Familiarize yourself with coin grading scales such as the Sheldon Scale for U.S.Grading Your Coins Accurately to Determine Their Value: Only handle coins with clean, dry hands or wear cotton gloves to minimize oil and dirt transfer.Store your coins in individual coin holders or acid-free archival sleeves.Use a microfiber towel to pat coins dry.Avoid using any harsh chemicals, abrasive materials, and excessive cleaning – as this may damage your coins.Use a mild soap with warm water to gently clean coins.Preparing your coins for sale can help you present them in the best way possible, helping you grab attention and increase your chances of getting them noticed by the right buyer.Ĭleaning and Preserving Coins for Better Presentation: So, this approach is often less profitable than selling directly to the end collector. After all, they need to make a profit themselves. All you need to do is take the coins to the dealer and work out a price you are both willing to accept.Īs coin dealers will typically sell your coins on, it’s likely that they will offer you less than what they can sell them for. Selling to coin dealers can be fantastically lucrative if you have a knack for picking up coins well below market value. Plus, if you do sell you’ll have to pay the auction house a percentage of the amount you sold the coin for. Of course, you do face the risk of the item not meeting the reserve and therefore not selling. Specialist heritage auctions are also a great options for reaching passionate collectors and resellers. This can be a great way to shift stock quickly. When you sell your coins at an online auction you can guarantee that they will sell on the day you auction them, as long as they reach your desired reserve price. This is especially true if your business model is focused on targeting other keen collectors. Specialist and general online auctions can be a great way to sell coins online. It is also important to remember that they “own” your audience and can change the terms of accessing them at any time – such as increasing the amount you need to pay on each sale. However, online marketplaces tend to charge relatively high commissions which can eat into your profits. The big benefit of this option is that it offers sellers an opportunity to get their coins in front of an already engaged and ready-to-buy audience. Online marketplaces such as eBay are another popular option for selling coins online.
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