Requesting a quote is easy and you can get paid quickly. One of our representatives can advise you on what to do if you have a coin that may exceed that. APMEX has a special relationship with UPS with reduced shipping rates, and when you ship your coins through the APMEX buying program you are eligible for $60,000 of insurance from UPS. Sell to APMEXĪPMEX purchases many from both dealers and private individuals. You can only purchase up to $50,000 of insurance on USPS, so If the value of the package exceeds that, you may run into trouble if anything bad happens. Be aware of the issues that you can run into if you’re shipping registered mail. Selling coins online or through the mail is also possible, but there are a few caveats. Auctions are primarily used for coins of significant value to collectors that might not get their potential value if sold over the counter. Usually, the auction company will take a percentage of the price (eBay also falls under this category). Splitting up numismatic coins one at a time and selling them via auction is the best way to get the most money, but it’s also one of the more challenging. Some travel out of state as well, and if they’re in the area for a coin show they may schedule side trips. They often will if the collection is impressive enough, especially if they’re a larger dealer. Some dealers will actually come to you if you have an estate or an interesting large collection to liquidate. These are only worth your time if you have something interesting, old or rare. Even if they deal with them, that’s not the primary focus of a coin show. These are good places to get a variety of quotes and learn about your coins in one place.Ĭoin dealers are interested primarily in numismatic collectible coins, not bullion coins sold primarily for the value of their precious metal. You’ll usually see many tables with individual dealers that may or may not have storefronts, and there are often smaller vest pocket dealers circulating between the tables facilitating transactions. Coin ShowsĬoin shows gather up a wide variety of dealers in one place. Many of these dealers have websites or Facebook pages where someone can sell them coins, and they have often been in business for many years and know what they’re talking about. Many of these numismatists have spent a lot of time doing arbitrage at coin shows, lining up deals between separate dealers and taking a little bit of profit on the transaction. Vest Pocket DealersĪ vest-pocket dealer is someone who doesn’t necessarily have a storefront but still deals in coins. If the shop’s primary focus is one of these other collectibles, it may not have someone with the numismatic experience to deal with some of the rarer issues you may run into, but they should know their way around common coins. Many of these hobby shops also embrace other collectibles like comics, baseball cards or stamps. Specialty coin shops are usually run by a numismatist who may provide other services like auctions or servicing want lists. Since that’s their specific function, the owner or proprietor is likely to have a lot more knowledge about numismatic value than someone who’s a generalist. Local coin shops are a great place to trade coins. These buyers are looking for bullion and melt value, and though they may have some grasp of numismatic value, it’s not their primary focus. There are a lot of cash for Gold shops that have sprung up since the price of Precious Metals shot up, and many of them also deal in Silver, Platinum and other Precious Metals. These shops are not primarily in business for coins, and any coin knowledge they have (especially in smaller shops) is usually incidental, as they’re much more likely to be dealing with things like guns, musical instruments and jewelry. Many shops will work off the value of the Precious Metal in a coin, or perhaps the Red Book value if they know enough to check for collectible price. However, not every pawn shop has someone trained in numismatics. Many pawn shops deal in coins, particularly Precious Metal coins. Since you’re usually selling to a dealer of some sort, they have to be able to make some money on the transaction, so they’ll usually buy for a little less than the going price. Just about every place you can sell your coin, it will be under the actual cost of the coin. And if you use that pre-1964 Silver to get a candy bar from the convenience store, you’ll probably regret it.Ĭoins can be bought and sold for a reasonable price, but you have to know where to look. You can’t necessarily take a Gold American Eagle down to the store and buy your groceries with it. Since most newer circulating coins no longer have much intrinsic value, Precious Metal and numismatic coinage is now the province of dealers.
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