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Selling Coins, Banknotes, and Bullion

There are many reasons that people start coin collections. You can learn about history — economic history in particular. You might enjoy the thrill of the hunt as you search for the sometimes-rare pieces you need to complete your collection. Many people simply find it relaxing, a way to unwind and escape the pressures of daily life. And also, many relish the opportunity to make money selling coins, banknotes, and bullion.

Timing is everything

Never make it a buyer's market. As in any other market, seeming desperate to sell will bring down the value of your assets. A fire sale can cost you 20% to 30% of the items' market value. Generally speaking, you want to sell your coins, banknotes, and bullion over the course of 45–60 days. Specialized collections can take even longer. Slow and steady wins this race!

The best time of year for selling coins is summer. This is when both the British and American numismatic societies hold their annual meetings, and interest in coins and related collectibles is at peak strength. Try to avoid selling when people are most distracted, such as around Christmastime or other major holidays. You might also consider selling after a major auction, as some will have lost out yet retain interest in buying.

Do your homework

It seems a little silly to mention it, but snoozing at just the wrong moment can cost you big. Always attribute your coins or hire an attribution service to do so. Otherwise, you might end up selling something very rare and valuable for very little.

There are also certification organizations like the NGC in Britain and the CAC in America that can assure prospective buyers that your coins are real, are really what you say they are, and are worth what you say they are worth. Having such a certification in itself can make your collectibles worth a little more when selling at eBay.

Coin holders matter

You may be wondering, "Does it matter if I sell my coins, banknotes, and bullion in a dirty or damaged holder?" You really wouldn't think so, but here we are. Coin holders can add to or subtract from the value of your items. Sometimes old holders are so scratched up, you can't even really see the coin. That will cost you. When you're selling used coins, banknotes, and bullion, try to make them look as attractive as possible by keeping them in clean, tidy holders.