What You Should Not Do When Selling Your Coins
Coin collecting is also known as numismatics. It is the systematic accumulation and study of coins. This includes tokens, paper money, and objects of similar form and use. Coin collection is one of the oldest hobbies in the whole wide world. Selling coins increased in popularity as the years go by. There are more and more people who get interested to sell rare coins. You usually get only one chance to sell a coin collection. Most people get an appraisal of their coins before they sell them. This is an estimation of the value of something. There are many qualified dealers that can give you a ballpark estimate of your coin’s value. Ensure that you deal with authorized ones.
There are things you should consider when you plan to sell your coins. It is better to come prepared than leave with regrets. Once you sell your coins, you cannot get them back as easy. Make sure you do it right.
Do NOT clean your coins
Cleaning rare numismatic coins will reduce their value. It is not worth the risk. So leave them as is.
Do NOT sort them by date
People often organize their coins by individual dates. It is not worth the effort. Some even put them in separate bags, paper envelopes, or coin tubes. What you should do is separate them by their composition. Organizing your collection this way will be a great help.
Do NOT let a dealer consign your coins to auction on your behalf
You do not need a dealer to help you consign your coins. A major coin auction house will usually accept your coins even without a dealer’s help. The dealer will get a percentage of the sale. It is better if you contact the auction house. You will then keep the amount that the dealer would have taken.
Do NOT wrap your coins
It is best not to wrap them. Taking them apart is bothersome. It will only waste time. No matter what you wrap the coins with. Plastic wrap, aluminum foil, or anything else.
Do NOT itemize them in a spreadsheet or text document
Seeing your coins is more important than seeing a list of them. The physical coins themselves are necessary to judge their condition and value. Appraisers usually prepare a list for you. You do not need to bother doing one.
Do NOT remove coins from a collector’s album
Collectors usually place and arrange their coins in the album by a particular key. Most of them use dates. It is best to keep a collector’s album intact.
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