If you're ready to sell coins from your collection, the last thing you want to do is put them on the market and hope for the best. While you might sell your coins, you're not necessarily going to get the best price for them. To make sure you don't lose money on the sale, you'll need to be prepared. Here are four steps you can take to get the best price for your coins.
Start with the Grade
When it comes to selling your coins, the first thing you should do is get them graded. Even if your coins look to be in pristine condition, a professional grading system can identify potential flaws that could bring down the price. A professional grading system can also increase the value of your coins by establishing the true quality of them. Before you put your coins on the market, make sure they're graded by a reputable firm. You should also make sure that you receive letters of authenticity for each of them.
Choose the Right Time
If you're ready to sell your coins, but the timing isn't right, you could lose money without even knowing it. Instead of selling as soon as you're ready, take the time to watch the market. For instance, if you're trying to sell a gold coin, watch the gold prices for a few weeks. Don't sell until you see the value hit a high point and level out. Taking the time to watch the market will ensure that you get the best price for your coins.
Wait for the Offer
Once you put your coins on the market, avoid trying to pitch them too hard. Sometimes saying too much can come back to hurt you later. Instead of telling buyers what you want for your coins – and potentially low-balling yourself – wait for the buyer to make an offer. If you do start with a price, make sure it's higher than what you actually want for it. This way, even if they counter with a lower offer, you've still gotten what you wanted for it.
Go with an Auction House
If you're not having luck selling your coins, or you want to make sure you get the best price possible, it's time to consider an auction house. Allowing an auction house to handle the sale of your coins will promote the sale of your coins and ensure that your collection is seen by collectors who are looking for the coins you're selling. With auction representation, your coins will be presented to the right audience and may even sell for more than you expected.
