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How to Go about Selling Your Old Coins

Ultimately, the goal of most collectors and heirs is to sell the coins for the most money possible. But selling a coin collection can be an intimidating process. It is difficult to trust what you read on the Internet; the same could be said of local “coin experts”.

Many people get so overwhelmed by the idea of selling a coin & currency collection that they don’t do anything. The collection languishes for years in a closet or basement or attic. Here is a two-step guide that may help you.

Step1 #:
Determine the Type of Collection You Have

Collection Type A: A Collector’s Collection.

This describes a group of coins that was put together primarily from buying from coin dealers or auctions. There were a goal and a purpose to the collection, and often serious time and money were spent to assemble it. 

Collection Type B: A coin accumulation or hoard.

This a group of coins that was pulled from circulation (back when silver coins and other obsolete coin types were available in circulation. These accumulations were often augmented by trips to garage sales, flea markets, and antique shops where interesting looking coins were purchased.

Collection Type C: A collection of products of US and world mints, and similarly packaged items.

These collections consist of proof sets, mint sets, modern commemorative coins, and the like. Often there is lots of packaging, and sometimes the sets are still in their mailing envelopes. These were generally assembled from the 1960s to date when the mints started cranking out such products by the millions each year.

Included in this category are coins purchased from “late-night TV shows” or from telemarketers. Often these items are long on fancy packaging and a bit short on current collector value.

The type of collection you have will likely determine the level of interest serious coin buyers will have in the collection. A purposeful, well-chosen collection of 20 to 50 truly rare collector coins will find many buyers, while accumulations and collections consisting primarily of proof and mint sets will likely find less enthusiastic or interested buyers.

Step2 #:
Find a Buyer with whom you can comfortably work.

Look at their credentials.

Look for a record of honesty and fair dealing.

Look for a dealer who has the financial resources to pay you what a collection is worth.

We paid 1.5 million dollars at auction for this very coin in 2019.

Work with someone you can trust.

Many coin buyers will want to buy just the “cream” of your collection, leaving you with the less desirable and harder to sell the remainder. At Dave Wnuck Numismatics, we buy it all, and for fair prices.

While we often buy a single rare coin or an entire coin collection, Dave Wnuck Numismatics may not always be the best firm to sell to. In a situation where he feels like there may be a better or more logical buyer, he can refer you to that person or another firm free of charge.

Dave Wnuck is here to answer all of your coin & currency questions. Dave is in the business of buying & selling coins because he has a passion for coins and the history they represent. Please allow us to share this knowledge with you.