“What’s My Coin Worth?” is one of the questions we get asked the most here at American Coins & Gold. This is for good reason because certain coins can be worth a great deal of money. The key here is to understand how the coin selling process works so you have the best information when it comes time to sell.
Type Of Coin
First and foremost, the type of coin you have will ultimately be the decider in the true value of your coin. However, there are a number of variables that go into this. They include the coins material, denomination, mintmark, date, and condition. When you begin to combine the above variables and then look at the subjective condition of the coin, it can quickly become complicated.
If you are new to the coin world, you can begin by searching online to get a better feel for what you might have. There are many coin websites, forums, and threads where you can browse popular coins being bought and sold on the market today. If you feel you found your exact coin online and the value of it seems high, be sure to check out the tips below before getting overly excited.
This is where it gets tricky for a lot of people. They will complete the step above and identify which coin they have. Then they find it listed online for a certain price or in a coin guide, but he point you need to remember is that the prices being listed in coin guides are retail prices. What this means is that you should not expect to receive full retail value for your coin as you need to go through a coin shop or coin buyer to sell. Understand that coin selling is a business and your local Coin Shop needs to make profit to survive.
Another common mistake people make when it comes to finding incorrect coin pricing is that they confuse the asking price with the selling price. Whether you are on eBay or any other auction based website and someone is asking a certain amount for an item, doesn’t mean they will receive that. People can be unrealistic when putting their coins up for auction so always take the time to see if it actually sold for that price.
Where You Sell
Where you sell your coin has a large impact on how much cash you will receive. Unfortunately, there are many coin shops that will take advantage of you and pay you the least amount possible for your coins. It is the coin sellers responsibility to seek a trusted coin buyer in the area and always be on the look out for any suspicious activity or warning signs. This way, you can always feel safe and know you will be getting the best price for your coin.
Looking to sell your coins?
Call (908) 575-9400 your free appraisal today from American Coins & Gold!