How Do I Easily Sell My Old Coins

Many folks today find themselves in a situation they do not know how to handle. They just inherited a coin collection and they have no clue what to do. Unfortunately, many make the mistake of simply taking it to the bank and cashing them in. Seriously, this happens. If you find yourself with an unwanted coin collection you are no doubt wondering if it worth any money. So how do you go about finding out what the value is? There are 5 basic steps to follow to help you sell your coins.

Step number 1 is to organize. What do I mean? You must figure out what you have. This can be as simple as organizing the coins by denomination. A pile for Wheat Cents, a pile for Indian Head Cents, a pile for Buffalo Nickels, etc. Create a list of each series with a count of coins. If you find yourself with thousands and thousands of pennies though, no need to count them, just weigh them. There are about 148 pennies/cents per pound. The more detailed you are, the better idea you will get regarding the value of this collection.

Step number 2 is to contact someone who buys coins. This may seem like a daunting task, but that is why you are reading this article. Today you can do this via your computer. No need to get on the phone during work hours only to have your co-workers overhear you. Simply contact via email someone who sells coins, provide them with the information you have compiled. Depending on the information you compiled, the coin buyer may ask you some questions.

Step number 3 is to review your offer and to feel comfortable with it. Do not be afraid to ask questions. If the person who you are dealing with is put off with these questions, then you may want to seriously consider someone else to work with. You may want to ask questions such as what the offer is contingent on. If you get an offer based on the bullion value of your coins and the market goes down, the potential buyer may no longer be interested. Most offers are good for only a certain period of time.

Step number 4 is to accept the offer. The offer will likely be contingent of a review of the coins. This is often necessary because the coins may not be in the best of shape, or a host of other issues. This is nothing against the seller. The Coin Buyer has to be certain of the authenticity of the coins. Many coins are counterfeited. If the buyer suspects fake coins, he will return them to you.

Step number 5 is to ship the coins. This is a very important step and one you need to understand to protect yourself. Be sure to insure your package and to tightly package loose coins. You do not want coins rattling together in a package as that is a sure way to have them go missing.

That's it. If you follow these steps and common sense, you can easily sell your coin collection.