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Anyone have experience selling coins?


Posted: Jun 28, 2011

I recently discovered that some old money I have had for decades is actually worth something.  Most of it is US silver coins, but I have some old foreign money both coin and banknotes that are selling on EBay for thousands times their face value.   I know there is a difference between what a coin dealer will give you and what the money retails for, but I really can't invest the time in putting them up for auction myself.  But, I don't want to give them away.  I have Googled searches several times and have looked at several coin auction webpages.  I am also relatively new to the area where I live.   I'm supposed to meet a coin collector tomorrow who wants to look at both the US and foreign currency I have.  I'm thinking I should probably ask at least 2 more collectors or dealers to quote estimates before I actually do anything.   Any have any experience?  TIA

;

re: coins - me

[ In Reply To ..]
In my personal experience, it is best to go with a private auctions as you will get more exposure and more value (money)for your items. Take your coins to get an appraisal/value, do your research and put them up for auction on Ebay. It doesn't take that much time to set it up. If you have a specific price you want, put a "reserve", that way if you don't get what you want you don't lose your coins.

Unless you know a private collector, e-bay and private auction is the way to go. have fun!

By the way, silver and gold are hot commodities right now. If you don't need to sell them, keep them for security... I only sold my paper money and have about $15,000 worth of silver collectable coins in a safe deposit box along with a few gold coins. 10 years ago they were just sitting in a box that my grandmother had left me! Who knew!

Coins - mt1347

[ In Reply To ..]
Thanks for the reply. Sounds like good advice. I did get the name of someone who is a reputable appraiser, but he's 2 hours away. I'm planning to make a little road trip out of it later this month. Thanks for the info about gold and silver - I don't pay attention to that.

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