Eric Sepanek
SBC Founder
Eric Sepanek is the founder of Scottsdale Bullion & Coin, established in 2011. With extensive experience in the precious metals industry, he is dedicated to educating Americans on the wealth preservation power of gold and silver.
Whether you’ve been acquiring coins over the years or recently inherited gold and silver as an estate beneficiary, you might be wondering how to sell a coin collection. Maybe you want to free up cash, reinvest in other assets, or simply don’t want or have the means to store coins.
Selling a coin collection might seem like a daunting task at first, but the process is rather straightforward. If you know what common mistakes to avoid and where to focus your energy, you can maximize the value you get from your coin collection. These expert tips will guide you through the process of liquidating a coin collection safely and successfully.
1. Identify the coins
Before you can figure out how to sell a coin collection, you should try to determine what kind of coinage you have. This invaluable information will help you figure out the metal, purity, condition, and rarity of the coins which are crucial metrics when ascertaining the value of the collection.
Experienced coin investors with extensive collections probably already know what coins they own. On the other hand, this is an essential step for people who come into coin collections through other means such as bequeathment.
Here are some helpful resources to consult when identifying coins:
- U.S. Old Coins Identification Index – This straightforward and easy-to-use site clearly indexes major US coins.
- Whitman Guide to US Coins – Known in the coin-collecting community as “The Red Book”, this resource lists the values of most US coins. Just make sure to get the most up-to-date version for accurate prices.
- PCGS Website – The Professional Coin Grading Services (PCGS), a leading coin-grading and authenticating organization, offers an expansive price guide for a slew of American coinage.
- NGC Website – The Numismatic Guaranty Corporation (NGC), another major coin-grading provider, has in-depth price guides for US coins, world coins, world gold coins, and more.
Image Apps for Coin Identification
- CoinSnap App – This handy mobile app uses advanced AI technology to identify coins and provide estimated values within a few seconds.
- Google Lens – Another mobile app that uses Google’s expansive search power to pinpoint a coin with a single photo. It’s most helpful at the earliest stages of your search.
👉 Important: Should You Clean Old Coins?
2. Determine their value
Once you’ve identified the types of coins in your collection, you can start ascertaining their value. The types of coins you have in your collection will determine how you calculate a fair market price. Common gold and silver investment coins are generally split into two categories: bullion vs numismatic.
Bullion refers to coins that were mass-produced and, therefore, typically only carry a value equal to their weight in gold or another precious metal. On the other hand, numismatic coins have a collecting value such as rarity or historical significance in addition to their inherent precious metal value.
Evaluating Bullion Coins
The value of common bullion coins is determined by the concentration and weight of their precious metal contents. As a result, you’ll need to know the weight of the coin, what percentage of the coin consists of precious metals, and the live spot price of the metal in question. Depending on market factors, you can expect to get offers just below the spot price from coin dealers since buyers need to factor in their premiums and service charges.
Evaluating Numismatic Coins
Calculating the value of numismatic coins is a bit more tedious than with their bullion counterparts because of the additional factors contributing to their value. There’s no clear-cut equation for aspects such as rarity, condition, and demand which influence the price of collectible coins. Here are some resources you can use to identify the numismatic coins you have and their estimated value.
- Blue Book & Red Book (American Coins)
- Coins of England and the United Kingdom (British Coins)
- Coins and Canada (Canadian Coins)
3. Shop around for offers.
Equipped with a rough idea of how much your collection is worth, it’s time to shop around to see what kind of offers you can get. When you’re figuring out how to sell a coin collection, you’re undoubtedly looking for strategies to get the highest value for the sale. Offers can vary greatly between buyers which makes it prudent to get multiple quotes. You can start with coin dealers in your local area before expanding your search across the country. Make sure you’re working with reputable, experienced, and professional dealers with a secure process for appraising and purchasing precious metals coins.
Get an accurate offer for your coin collection from Scottsdale Bullion & Coin. We provide a free appraisal with a quick and fair cash offer.
👉 Related Read: How To Get The Best Price For Your Gold and Silver Coins
4. Make the sale.
The whole process of figuring out how to sell a coin collection has brought you to this point. You’ve done all the due diligence you need to know the kinds of coins you have, their value, and the offers you can get. Now, it’s time to follow through with the sale. Although price is a major motivating factor when choosing between offers, it’s important to take other factors into account such as the experience and trustworthiness of the buyer. You don’t want to sacrifice the safety of a transaction just for a higher offer. In the end, you might decide to hold off a little longer to wait for the value of your collection to increase. Regardless, it’s always a good idea to have an accurate assessment of how much your collection is worth.
Get a free quote for your coin collection at SBC Gold.
Wondering how to sell a coin collection? The precious metals appraisers at Scottsdale Bullion & Coin would be happy to help. We can appraise your coins free of charge and provide a competitive cash quote whether you are local or national. The process is quick, safe, and hassle-free. Our coin appraisers will be there each step of the way to answer any questions you might have.
👉 Related Read: Selling Gold and Silver Coins, Bars & Bullion Safely