3 Tips For Selling Your Collectible Coins
Whether through pieces passed down from family members or as a means to make money, coin collecting has become a hot hobby. Not only does it appeal to all ages and genders, but collecting coins has also become a hobby all over the nation. Considering some coins have sold for millions of dollars at auction, collectible coins are also a great investment. Of course, knowing how to sell these valuable pieces is key to receiving the most profit. With these tips, you will learn how to sell your collectible coins in a profitable, efficient manner.
Grading Is Beneficial
If you are buying coins for your own personal collection, grading may not matter to you. However, if you are planning to sell a coin, having it graded will help you sell it faster and for more money.
A coin grading scale ranges from low end to high-end condition. Obviously, a coin that is graded with a high-end condition will be worth more money, allowing you to sell it at a higher price. These coins are also more appealing to buyers, so you will be able to sell a high-end quality, graded coin very quickly.
A CAC (Certified Acceptance Corporation) certification sticker may be small, but it makes a huge statement. Not only will this grade verify the quality of your coin, but it is also a guarantee that the coin will be valuable and appealing to buyers. Sending a coin off to CAC to be graded is an expense, but the small price is worth the peace of mind knowing the value of your coin.
Proper Storage Upholds Value
If you want to uphold the value of your coins, they must be stored properly. Fortunately, there are numerous options available to collectors.
Made out of hard plastic, plastic coin holders allow you to store a coin in between two pieces of plastic. The pieces are snapped together over the coin securely, holding the coin in place so you are able to see both the front and back sides. Unfortunately, storing a graded coin in a hard plastic holder is not possible, but these can be used to secure coins in place until they are graded.
Grading companies will place your coin in a slab once it is given a grade. These rectangular shaped pieces of plastic allow you to place the coin inside two pieces of thick plastic before snapping together to hold it securely in place. A small paper is labeled by the grading company and stored alongside the coin in the rectangular plastic case.
If you have multiple slabs of graded coins, invest in a few slab holders. These long boxes are specifically designed to hold multiple slabs. You can then place the slab holders on a shelf or in a drawer, allowing you to pull out the holders with coins.
Sell At the Right Time
Financial obligations may arise, increasing the need to sell off your investments to get out of financial distress. However, it is best to not wait to sell your coins during these times, since buyers will try and take advantage of your financial issue, offering you low-ball offers on pieces you paid a great deal of money for. Coin collecting is a means of investing for many people, so you should keep your investments in place until the right time.
If you follow and attend popular coin collecting conventions, consider listing your pieces during or immediately after these events. Many people will be in the mood to purchase coins they missed out on during these conventions, so it is a great time to list your pieces on consignment or with an auction house.
Coin collecting is not a new hobby, but due to its benefits, it is growing in popularity. With this guide, you will be able to turn your coin collecting into a worthwhile financial investment.
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