You know that big heavy tin can in your grandfathers closet. The one that makes a noise when you move it. We have all thought about what could be inside that can. Maybe there is a coin in the tin can that is worth a lot of money like the money you need to buy a house.. Maybe the tin can is just full of old metal that is not worth anything. The tin can is still a mystery. We are all curious about what is really, inside the tin can.
If you are thinking about selling your coins you need to be very careful. The world of coin collecting has a lot of people who will try to take advantage of you. I have seen many people get really excited, about a rare coin only to find out that the coin is not real or even worse they sell a really valuable coin for a very low price like it is just scrap metal. Coin collecting can be tricky. You have to be careful when you are dealing with rare coins.
Here is the straightforward guide, to selling your stash.
Rule #1: Step Away from the Polish
I really want to make this clear. If your coin is dirty just leave the coin dirty. Do not do anything to the coin. The coin is fine the way it is even if the coin is dirty.
The dirt on coins, which some people refer to as patina is really important. It shows that the coin is old. If you use a cloth and some special cleaner on it you are taking away what makes it special. A old coin that looks brand new can seem like a fake to someone who collects coins.. A coin that is a little dirty looks like it is real. If you make the coin shiny you can make a coin that’s worth one thousand dollars only worth ten dollars in just a few seconds. The dirt on the coin is part of its history. That is what makes it valuable, to collectors.
You need to know what you actually have. This is important because it helps you understand what is going on with the things that belong to you. When you know what you actually have you can make decisions about the things that are yours. Knowing what you actually have is really useful. You will be able to see what you have. What you need to get. This is the step, to getting more of the things you want. You have to know what you actually have so you can move forward.
Before you even think about finding a buyer for something you need to know what the item is. You do not have to be an expert on the item. You do need to use Google to learn more, about the item. Google is a place to start when you want to learn about the item you are holding.
• Check the Date and Mint Mark: You see that letter, near the date? That tells you where the coin was made. A 1904 coin made in one city might not be worth much. The same 1904 coin made in another city can be really rare. The Mint Mark is important because it helps you figure out how rare the 1904 coin is.
• Take a look at the Edge of the thing: does the Edge feel rough like it has lines, on it or is the Edge to touch?
• Check The Weight: If you have a scale, in your kitchen use it to weigh the item. Fake ones are usually too heavy or too light.
Finding the Right Old Coin Buyer
This is the part. You have three options to choose from. They are really not the same. The three options are very different, from each other.
1. Coin Shops: These are the people who have stores where you can go. They have to pay for things like rent and electricity so they will normally give you a price for your coins usually around 40 to 60 percent of what the book says they are worth. You will get your money quickly. You will not get as much money as your coins are really worth. Coin Shops are like this because they have a lot of expenses to cover so they can only pay you an amount, for your coins.
2. Auctions: If you think you have something valuable, like a gold coin or a rare coin that is worth a lot you should try auction houses. They will take some of the money you make. They will show your coin to people who really collect coins and have a lot of money to spend on them.
3. Direct Collectors: This is where you can get the price for the things you are selling but it is also a lot of work. To do this you need to join forums or Facebook groups and build trust, with Direct Collectors. You have to spend time talking to Direct Collectors and showing them that you are a person.
When you want to sell coins you need to find an old coin buyer you can trust.
Look for coin buyers who are accredited.
In the United States old coin buyers should be PNG dealers.
If you are in India or the United Kingdom old coin buyers should be members of established societies.
You should be careful with coin buyers who put up random flyers on telephone poles saying they will give you millions for old coins. Old coin buyer ,like these are usually not trustworthy.
The “Scam” Warning
If someone asks you to pay a registration fee, a tax or an RBI clearance charge to sell your coin you should really run away, from them. They are trying to take advantage of you. Do not pay the registration fee to sell your coin. Do not pay the tax to sell your coin.. Definitely do not pay the RBI clearance charge to sell your coin. Just run.
This is the scam that happens a lot. A real old coin buyer will pay you money you will never have to pay them. When you are doing a deal it is easy: you give them the coin and they give you the cash.
The Reality Check
They might be worth a money because they have silver in them or they might just be nice things to remember something by.. Sometimes someone finds an old coin that is really special an old coin that is very rare and that old coin is, like a treasure.
So, go through that jar. Do your research. And for the love of history, please don’t clean them!