Selling Your Coins To Coin Dealers

A coin dealer could be a single person running the show or it could be a big company. Before selling a coin try to first research on the Internet about the coin value, coin condition, etc, and then contact at least 2-3 coin dealers and discuss the rates.

The first thing you should do while selling your coins, is create a list of the coins and get quotes from different coin dealers. One more source where you can sell your coins is through the Internet. Websites like ebay would come in handy if you would like to sell your coins. You can list the coins in an online auction or set a fixed price and sell. There are many coin sellers and dealers who buy old/rare coins online, so listing your coins online for sale is not a bad idea at all.

If you are thinking of selling your coins through a dealer then make sure the dealer is a reputable and honest person. Find out for how many years the dealer has been in the coin collection business. Always remember, that it does not mean the dealer is an honest and sincere person if he advertises in a leading newspaper. So make sure you ask for testimonials from the dealer.

You can contact the dealer in many ways, through email, phone etc. Make a list of the coin rates the dealer is willing to pay you. The more dealers you contact the better rates you will get. Some dealers collect only a certain type of coin and won’t buy other types of coins. So, you can sell some coins to such a dealer and some to other dealers. Collecting silver dollars and gold coins is a very good investment.

Make sure you bargain and get a good quote and once the negotiation is completed sell and get your money immediately. Selling your coins on eBay is a very good alternative to selling to dealers locally. I have done this successfully for years and have made decent profits. 

How Can I Sell My Coins?

If you want to sell your coins, the following FAQs may be of some help to you. However, to get the best price for your coins, coin values can really only be determined by establishing the condition – or grade – of your coin(s). There are several professional coin grading services that will grade your coins for a fee. Or, you can have the coin dealers at Midwest Mint appraise your coins for free! Here are instructions on how you can send your coins in for a free evaluation and a fair, professional offer if you want to sell them.

Cleaning coins is usually the worst thing you can do to them. Coins are valued for their original condition and cleaning immediately takes that away. Tarnish (or toning) is normal on silver and copper coins and happens naturally over time. Most attempts to remove toning usually end up harming the coin and reduces their value significantly. Coin dealers and collectors are eager to purchase rare coins in their natural state of preservation.

There are many reasons why coin collectors sell their coins. There are coin collectors who are dealers as well. Selling coins is their option and they may use it to generate income so that they can acquire other coins that they like.

When selling collectible coins to a dealer, potential sellers often have to adjust their expectations, whether they are trying to find out gold coin values or silver coin values. In those cases the current market or "spot" price of precious metals may make a big difference in determining your collectible coin values.

To get the value of your coins, check a local coin dealer first. Another idea would be to check online for the next coin show in your area. Shows are good because you can get opinions from several different dealers while you are there.

Antiques shops and consignment shops may accept coins; pawnshops will almost always accept them. Almost every town has at least one out of three. Antiques shops will usually just buy the coin outright from you; with pawn and consignment shops, you won't receive any money until the item actually sells. In the case of all three, you may not get the best price for your coins since they don't specialize in coins.

There are also coin collectors who gather coins not just as their hobbies; these coin collectors use the coins as their source of income. They make a living from selling the coins that they collect. Sometimes they sell the coins to other collectors and price them higher than the usual price of the coins and this is appropriate if the collector owns limited edition or rare coins.

As a general matter, the more rare a coin, the higher the coin value. Note that rarity has little to do with the age of a coin. Many one thousand year old Chinese coins often sell for no more than a few dollars because there are a lot of them around, whereas a 1913 Liberty Head Nickel may sell for over $1,000,000 because there are only five known specimens in existence.

On the other hand, some collectors sell their coins because of other factors. They may sell coins because of personal reasons. This is the most difficult situation for coin collectors as they often value their coins and as much as possible and would not want to give them away - the coins may be memorabilia or may have sentimental value to the collector.

Cleaning coins reduces their value and in some cases the coin has no value at all. The ones you polished are considered damaged coins by the coin collecting community. A google or Yahoo check will show a few more.

Once a collector has decided to sell his coins, he must consider if it is really the right time to sell the coins. Is the collector ready to give away his coins? Is the coin price higher now? Will it do well and will he benefit from selling his coins? These factors should always be considered.

Gold Coin Values, Silver Coin Values: Many coins have a bullion value determined by the value of the precious metals it contains. A gold coins, silver coins or platinum coin does not generally sell for much less than its melt value.

There are other options available to determine where a coin collector could sell his coins. He may want to sell the coins at auctions. Many people now prefer the option of putting their belongings up for auction and this is not limited to coin collections.

Rarity and grade do not tell the whole story in a coin's value. The "quality" of coins is a huge factor in determining coin value and coin price when you decide to sell. But it is also the most difficult to determine properly, and requires a practiced eye.

Obviously, all coins are not all the same aesthetically. Some coin designs -- the high relief Saint-Gaudens Double Eagle, for example -- are widely considered to be more beautiful than others. The public's taste for these designs has a significant influence on the value of the coins that bear them.

Investing In Coins Tips

If you would like to risk money you can afford to lose and invest in coins but are new to the game you need to know how to limit your risk. When you can find it, the most valuable pricing data tends to be advertised dealer buy prices. If you study, collect or invest in coins then you are a numismatist. This definition worked for years and thus was used by the American Numismatic Association. Therefore, a lot of people have chosen to invest in coins. How is that helpful?

Although a hot precious metal market may focus attention on Krugerrands but it is your coin’s rarity, condition and eye appeal that will create the value behind your portfolio, not the metal content. Criteria include luster; the number, size and location of contact marks; the number, size and location of any hairlines, and the quality of the strike and overall eye appeal. Do you want to invest significant money in coins hoping that they will go up in price? Investment guides want you to buy the very highest grades of uncirculated coins, but sometimes regular old circulated coins appreciate significantly in price as well (circulated means the coin has some signs of wear ? and sometimes a lot of wear).

Most of us try to see with your eyes and do what would make US happy, but what about you? And if your dealer doesn’t know or is too busy to help provide you with the tools to help yourself, then maybe you should seek out another dealer. Hence we tried to go a different route than usual and chose to build up a system via the Internet that gives private investors of all kinds the opportunity to invest already small amounts of money. This increases the available funds and enables us to work with more independent traders and thus achieve a wider diversification which leads to a greater stability in our plans. With general shakiness in the economy, some investors are bullish on coins because they are tangible assets that are not as susceptible to the same market pressures as stocks and bonds. The value of precious metals is up, an indication that the value of coins is on the rise.

Although a "hot" precious metal market may focus attention on coins in a generic sense, it is your coin's rarity, condition and eye-appeal that create the value behind your portfolio, not the coin's metal content. The rarity factor is by far of the utmost importance when investing in U.S. Our Buying Trust carefully handpicks each coin we offer for great eye appeal and avoids coins with unsightly toning or rust spots. Ugly, unattractive coins that we refuse to buy are often dumped on an unsuspecting public at Internet auctions. Thousands of individuals across America are convinced to "invest" in rare coins, only to find out the coins are worth less than they paid and will never appreciate as an investment. To find out more about Coin Fraud Facts and what legal remedies are available to you, contact us today.

They often buy in a panic and pay higher prices during sudden market peaks. Smart collectors exercise more common sense. We strive to select only quality coins with outstanding eye appeal for our customers. Since not every coin is truly rare, we select coins with a fundamental reason to rise in value based upon supply and demand factors. There are many other well recognized brands such as Johnson Mathey, Sunshine Mining, and some issued by coin and silver dealers. The premium over the silver price is always relatively small.

As no additional coins from the era of those you purchase are being minted and they become increasingly harder to find as years go by, the value of many coins continues to rise among private collectors. Complete sets of coins tend to bring more as a group than the individual coins that the set is made of, though some coins of exceptional rarity may surpass even that price. Some East European countries are showing very fast growth in coin's prices as economy is stabilizing, more people understand the potential value of these coins and trying to buy them while they are still cheap. At least then, if you decide that coin collecting isn’t for you, you can simply spend the money and suffer no losses!

Fantastic Hobby of Coin Collecting

Coin collecting is a wonderful hobby. Now imagine if you could make money with this wonderful hobby of yours. Coin collecting is one of the oldest of all hobbies. Hoards of ancient coins found in excavations indicate that coins were one of the first collectibles. Coin collecting is one of those hobbies that for most collectors, started by accident. Usually the coin that sparked the interest was a coin found in circulation.

Coin collecting is probably one to the easiest hobbies to get started in. All you really need to get started is to use the change in your own pocket. Coin collecting is not really about investment, it should be a fun and thrilling hobby. Coin collecting is a fun hobby to start and the thrill of hunting for old coins is enough for many people to continue doing it. Coin collecting is the most popular expression of numismatics. Coins-To-Sell.com is a source for graded and ungraded coins to add to your collection.

Coin collecting is known as the hobby of the kings. Coin collecting is a hobby that many collectors got into by chance or inherited a coin collection from their parents and ancestors. The most common thing that sparked an interest in coin collecting amongst collectors is the attention that the coin draws.

Grades from MS-61 to MS-64 cover intermediate parts of this range. Truly exceptional coins may be graded MS-66, MS-67 or, if absolutely flawless, as high as the theoretical maximum of MS-70. Grades from MS-61 to MS-64 cover intermediate parts of this range. Truly exceptional coins may be graded MS-66, MS-67 or, if absolutely flawless, as high as the theoretical maximum of MS-70.

Cleaned coins are always valued lower than ones that have not been ‘enhanced’ or ‘doctored’, which usually means cleaned! Some cleaning is done so well that it is nearly undetectable by all but experienced collectors or dealers. Cleaning coins is a risky and skilled operation and normally should never be considered.

Collectors of world coins are often interested in geography. They can "travel the world" vicariously through their collecting. Collectors have created systems to describe the overall condition of coins. One older system describes a coin as falling within a range from "poor" to "uncirculated". How many excavation reports come out each year, and of these how many mention coins?

Dealers acknowledge that state quarters coins for Delaware, Pennsylvania, and New Jersey are now in short supply - thus in high value - however the higher value is simply due to the fact that so many incidental collectors are hoarding. Dealers publish prices regarding various coins in these periodicals, which are used as a guide to prices but are not the actual price. The literature collected will depend on the investor's special interest.

Ancient coins were also struck in silver and "base" metals like bronze and copper. Because of its intrinsic value, however, gold coins have historically been the most popular medium for exchange. Ancient coin collecting is an unbelievable hobby. These ancient handmade coins are masterpieces from antiquity.

Gold coins were one of the oldest forms of money. This was later followed by silver coins. Gold coin collecting actually is a legal way to defer taxation on your investment. What this means is that as your return on this investment increases, your investment is not subject to taxes until those coins are liquidated or sold. Gold coin collecting is one such activity, which would not only provide good investment value, but would also look great on the resume of the individual. Gold coin collecting is not an easy hobby to take up.

Mintmarks have been unprecedented in their success and popularity. Another strong and up-and-coming segment of coin collecting is the very popular collection of mint error coins. Mint has changed over the years. Most recently, the look and feel of paper currency has been changed to discourage counterfeiting. Mint didn't make the 1877 Indian Cent 127 times scarcer than the 1907 issue to create a "chase coin".

Mintmark rarity will always be helpful but condition and type rarity should really excel as the new generation comes on line. Stay clear of paying high premiums for VAMs and other trivial distinctions among coins.

Generally, older coins are better than new. Generally made of sturdy cardboard or pressboard, some of these are generic and designed to hold certain sizes of coins that you identify yourself. Others, including the Whitman series of coin folders, will help you focus on collecting a certain type of coin. Generally, their collection contains coins minted in years that are meaningful to them. These minted coins could reflect a special year such as an anniversary, graduation, or other significant event.

Anyone can start a coin collection - it's easy and fun to start collecting on your own. You can begin simply, with just the coins in your pocket. Anyone here will tell you that the values in the PCGS guide are on the high side. Without knowing what every coin in your collection is and their grades it'll be hard for anyone to tell you if you've gotten a good deal or not but at the same time if your coins have appreciated as much as you say they have by PCGS standards then I'd say you're pretty safe with any of the current price guides, just not to that extent.

Collecting State Quarters

The U.S. Mint is always issuing new commemorative coins and sets. There are a remarkable variety of U.S. coin types in everyday pocket change, with more than 38 different State Quarter types in circulation. Learn all about collecting U.S. coins.

Actually, the Treasury Department's estimate of 140 million State Quarter collectors seems suspect. This figure probably includes everybody who ever put away 1 coin from his or her own state or something, but the point is that State Quarter collecting is very popular. Like any popular series of coins, the supply often fails to meet demand, causing a price increase.

The 50 State Quarters Program, authorized by Congress in 1997, has been very successful. More than 140 million Americans are collecting the 50 state quarters. The state quarters program isn't just for coin collectors, however. Many citizens have had the opportunity to participate in the quarter design process. Thousands of Americans have suggested designs that represent their state's unique, positive features. The final designs are selected from these submissions. In 2005, the Idaho Commission on the Arts solicited concepts from the public and received over 1,200 submissions. Each state's quarter is minted for only ten weeks, and then will never be minted again.

A great way to organize and maintain a collection of state quarters is with a state quarter albums. Because state quarters contain state-specific information on the coins, albums are an easy way to keep the coins organized and easily viewable.

For those just starting a coin-collecting hobby, coins they collect are usually placed inside a large glass jar or bowl. Serious collectors prefer to store their collection in a special state quarter album. State quarters map folders are a very popular way to store and display a collection and are available in coin shops and from coin dealers.

Mint officials estimate that about 114 million Americans are collecting state quarters. In fact, about two of every three quarters minted in the last two years have been taken out of circulation by collectors amassing stockpiles that average 25 quarters each. Many of these new collectors are kids.

"It was inconceivable to people to think a few years ago that coins could become a collectible in the realm of Beanie Babies or Pokemon cards," says U.S. Mint spokesman Michael White. "But this state quarters program sort of transformed coin collecting from a smaller hobby to something very mainstream."

The 2008 state quarters are the last of the 50 State Quarters Program. Coin collecting State Quarters has brought many new people to the hobby.

While most of the collectors of state quarters are youngsters with minimal income, these kids are probably building their set with the assistance of an adult who will hopefully also have some interest in building the full set. What is the problem that will unfold if this happens? The problem is that the 1932-D quarter only had a mintage of 436,800 pieces while the 1932-S had only 408,000 pieces produced. With mintages like that, it is unlikely that any more than 350,000 of each are still in existence now that over 80 years have passed since they were struck. So you see, the dilemma arises that there are not nearly enough 1932-D's and -S's to go around if lots of people suddenly decide to start forming complete Washington quarter collections.

Today, the partnership among the Citizen's Commemorative Coin Advisory Committee, Congress and the sponsoring organizations that back new coins has stabilized the market for commemorative coins. The 50 State Quarters Program - the longest running and most successful program of its kind - has re-ignited interest in coin collecting. One hundred and fourteen million Americans are now collecting state quarters, and most are new to the hobby.

But anyone who collects state quarters in hopes of reaping big gains will probably be disappointed. Although some collectors maintain that a few of the quarters disappeared from circulation so quickly that they might bring $1 (if they're in extremely good condition), common coins rarely appreciate that much.

Thanks to the success of the state quarter program, the U.S Mint began this year honoring U.S presidents on dollar coins. Each year four presidents will be featured annually. Washington, Adams and Jefferson are now in circulation.

The United State Mint only produced 520,400,000 California state quarters. That might seem like a lot, but this article explained that since there were over 36,000,000 California residents, this quarter was the "most rare" on a per-capita basis.

South Carolina and Georgia stuck to traditional concepts an outline of the state surrounded by regional flora and fauna. As the "Magnolia State," Mississippi opted simply for flower blossoms. The New York quarter features a majestic Statue of Liberty.

The Professional Numismatists Guild, for example, publishes free booklets for beginning collectors (available by writing to: Robert Brueggeman, PNG Executive Director, 3950 Concordia Lane, Fallbrook, CA 92028). The PNG also offers free "quarter boards" for displaying state quarter collections.

The Mint has announced mintage totals for the Washington State Quarter. A total of 545.2 million were released into circulation. Take the leap into the wonderful world of coin collecting with a 1999 Philadelphia Mint State Quarter Set. It comes with all the 1999 state quarters in Brilliant Uncirculated condition and includes custom packaging.

Clearly, the Commemorative Coin Program works best when it benefits collectors and sponsoring organizations alike. Congress has authorized more reasonable mintages, sales have recovered, and the market is significantly more stable.

Perhaps the most notable debate arose in Missouri, where an artist disagreed with the Mint's interpretation of his design. The artist protested in Washington, D.C. outside the Mint and at the Illinois quarter release by pasting his own design onto thousands of quarters and handing them out to bystanders, coin watchers said.

Value Of Pennies

The wheat penny values in this price guide are the actual prices coin dealers will pay you for your wheat pennies. These are not the retail coin prices found in nearly all other coin price guides, which, if relied upon to appraise your wheat cents, will result in great disappointment when you go to sell them. If you use a wholesale coin value guide like this one, you will get an honest appraisal of what your wheat pennies are worth if you had to sell them today.

All wheat pennies are worth at least triple their face value unless they are badly damaged or almost totally worn out. Some wheat back cents, though, called key dates, are worth hundreds, even thousands of times their face value! Find out how much your wheat pennies are worth in this coin values table below. Keep in mind that these are guidelines. To get today's current market prices, you should contact a coin dealer.

Individuals or small groups of students need to gather samples of 100 pennies that are presently in circulation around the United States. Samples should come from coins that are actually in circulation. Do not use coins that have been in long-term storage. Parents and relatives are a good source for samples, piggy banks are not.

Special Note: The price of copper has risen to the point where copper U.S. pennies are worth 3 or more cents each just in copper bullion value. A coin dealer is still unlikely to give you more than what is listed in the table, though, because he has to make a profit, although some dealers are paying 3 and half cents ($0.035) now for common wheats.

Pre-1982 pennies contain a much greater percentage of copper. Post-1982 pennies are mostly zinc. Show the broken penny, which is mostly zinc inside. Show them a copper, "silver" and "gold" penny. Talk about how the zinc atoms on top of the copper atoms make the pennies look silver. The zinc atoms move in between the copper atoms. Help students visualize this be putting one of your hands on top of your other hand the show that if heat makes your fingers move it allows fingers from one hand to move in between the fingers of your other hand. Copper and zinc atoms make brass and looks like gold. Ask if anyone plays a saxophone or a trumpet? These are made of brass.

The weight of 160 pennies - also known as a one-cent coin - comes to a pound, worth a face value of $1.60. But - with each penny made of 97.5 per cent zinc and 2.5 per cent copper - based on current prices, the metal value is worth about $1.36.

The first Lincoln penny was issued in 1909, the 100th anniversary of Lincoln's birth. In 1943, the Lincoln penny was made of steel (with a zinc coating) because copper was needed for military use in World War II.

In the five o'clock shadow of the rupee's close shave, Washington is considering ways to reduce the cost of making pennies and nickels. Among them, giving the mint authority to use cheaper metals, like steel. And though efforts in Congress to retire the penny altogether have failed in past years, its detractors say the time has come.

"Inflation has rendered the penny nearly valueless, right? If you can’t buy anything with a penny, if it takes at least a nickel or a dime to buy anything, then that individual unit just doesn't serve much good," argues Stephen Dubner, the co-author of the bestseller "Freakonomics," a zany look at money and American culture. He puts the penny in the same category as your pesky appendix and other useless relics.

Heat zinc plated copper pennies in the flame of a Bunsen burner. Turn the penny in the flame as it heats. The zinc and copper atoms form brass. The copper and zinc atoms merged to produce "gold" pennies.

Coin Investing For Profits

Although most coin collectors hope their collections will increase in value over time, serious investing in gold coins and rare U.S. coinage requires careful planning. Learn about coin collecting as an investment -- what types of coins to buy, and why, and how to avoid the costly mistakes that many new rare coin investors make.

Today, rare coins are considered sound investments and in fact have been featured numerous times in the Wall Street Journal, Barron’s, Money Magazine, on CNBC, and numerous other financial publications. Investment professionals from Harry Browne to independent financial planners have recommended some portion of one’s investment portfolio to contain precious metals and rare gold and silver coins.

Investing in gold coin is unnecessarily costly. This is due to a numismatic premium, typically related to the antiquity and rarity of the coin. This is why gold coins are more expensive than the same amount of gold bullion bars. Unfortunately, the extra features of gold coin that you're paying for won't necessarily go up in value, which is why precious metal coin is a poor investment.

Fraudulent sellers of rare or bullion coins are hard to identify because they often copy the practices of their legitimate counterparts. It takes a combination of patience and skill to be successful investing in rare or bullion coins. Collectors do their homework for a long period of time before buying even a single coin. It is important to learn all you can about the coins being sold, such as their rarity, market availability and price trends. You also need to know about the dealer who is offering the coins. Because fraudulent sellers often appear to be reputable, it is especially important to check the information you are given and who is giving it to you.

These price-driven internal supply/demand forces are very powerful. Because of these internal forces, coin investing can experience a bull market even in the absence of bullish external forces. And that's exactly what happened during the internally driven bull markets of 1960-64 and 1983-89. What's really exciting is when both internal and external forces combine to generate the 1976-80-style bull market.

Now compare your situation with mine. If you are offered a $100 coin for considerably under $100, there is a good chance the coin is being misrepresented (possibly counterfeit, but most likely over graded). Just remember: rare coin investing allows for no bargains.

Remember, rare coins are not a liquid investment. That means that they cannot generally be resold quickly for a profit. If you need to sell your rare coins quickly and the market is down, you could lose money on your investment. Also, although you will buy your rare coins at retail prices, you will probably sell them at wholesale prices. In fact, most investors hold on to their rare coins for at least ten years. It may be very difficult to find a buyer. Beware: telemarketing scammers (using a new name) often target previous rare coin buyers for victimization using claims that they can help sell your rare coins.

Morgan Dollars are a popular investment vehicle for coin collectors these days. Before you invest in Morgan Dollars, however, take a moment to consider a few thoughts about rare coin investing, because although there are some excellent investment options out there in Morgan Silver Dollars, there are also some pitfalls to avoid.

Your best protection against buying over graded coins in your rare coin investing pursuits is to learn to grade accurately. However, grading is a difficult skill to master. Still, you can be aware of the basic grading concepts. Carefully examine every coin you purchase. Notice how sharply the details of the design stand out. Take note of all major and minor marks. Now compare the coin with another, preferably of the same type. The coin with the greatest detail and fewest marks is logically the better coin. But also seek professional assistance because… rare coins are often over graded.

Government coinage policy can also have a negative impact, as was seen when the government stopped making proof sets from 1965-67, stopped putting mint marks on coins from 1965-67, and, most importantly, took the silver out of coins in 1965. This action put a real damper on coin collecting and stopped the 1960-64-bull market.

The fact is: It is very difficult to identify fraudulent sellers of rare and bullion coins because they often look like legitimate dealers. For example, fraudulent sellers frequently have elegant offices in the financial districts of major cities, employ "account executives" or "investment counselors," and produce glossy, attractive brochures on investment strategy. They may claim to have leading coin experts on their staffs, or claim to be the largest or finest dealers in the business. Because fraudulent sellers often appear to be reputable, it is particularly important to check the information you are given.

Lately, the government has definitely been the coin market's friend. The statehood quarter program, beginning in 1999 and running through 2008, has literally brought hundreds of thousands of new collectors to the coin investing market. In addition, the government's resumption of commemorative coin production in 1982, and the improved marketing efforts of these coins in the 1990s, has given coin collecting a big boost.

Inflation may allegedly be dead, but the fact is that the U.S. Dollar has lost 95% of its purchasing power since 1940, and rare coins are a superb inflation hedge. In the past, the rare collectible coin market has always done very well in periods of increasing inflation.

This was clearly evident in the 1970-74 and 1976-80 bull market. Coins can also do very well when the stock market does well, as was evident in the 1960-64 and 1983-89 bull markets.

Investing successfully in rare coins, like any other type of investing, requires that you learn everything you can about the subject before you buy the coins. Most rare coin frauds rely on the buyers' lack of knowledge, as exemplified by these tips from the FTC.