Mistakes to Avoid When Selling Rare Coins
Beware these 6 common mistakes when selling your rare coin collection
Pitfall #1: Friends do not want to buy all of your rare coins. They may buy some coin that they need, but otherwise they are only interested in the rare coins they can buy cheap.
Solution: A rare coin dealer has a bigger appetite and needs more of your rare coins. American Rarities never “cherry picks,” and will always make an offer to buy your entire coin collection.
Pitfall #2: Friends and family do not always have the money to buy your rare coins even at a “special” price. More importantly, they will often only be interested if they can acquire the coins for less than they are truly worth.
Solution: Dealers have the knowledge and resources to both accurately appraise your collection and make you a fair market offer on your rare coins. American Rarities can pay you top dollar for your entire coin collection. Immediate payment is customary.
Pitfall #3: Coin collectors are wary of buying rare coins from other collectors. They are not confident enough in their abilities to grade coins and price coins, and often feel more comfortable, and are thus willing to pay more, when buying from a reputable Rare Coin Dealer.
Solution: Our coin buyers are extremely competent at coin grading and coin pricing – after all, they do it for a living. We can step up to the plate and pay you the proper price for your collectible coins.
Pitfall #4: Rare Coins are a complicated animal when it comes to grading and pricing. Coin collectors spend a lifetime studying rare coins. How then is a non numismatic educated family member going to do when the time comes to sell Grandpa’s rare coin collection?
Solution: We see many inherited rare coin collections. The sellers are generally at a loss as to what a fair price is for their coins, and are often worried about being ripped off. An American Rarities coin buyer takes the time necessary to show our customers what we use to price coins, and how we apply that knowledge to their collection. We price rare coins as exactly as possible, leaving little or no guesswork when we evaluate a coin collection.
Pitfall #5: Rare coins need to be properly cared for. It is not enough to store coins in a cool, dry place. The plastic holders that are used to protect rare coins can actually harm them in as little as 10 years. Many coin collections lose countless thousands of dollars in value due to damage from the very coin flips meant to protect them. When is the last time you re-holdered your rare coins?
Solution: One of the first things we do upon purchasing a coin collection is remove all of the coins from whatever holder they are in and put them into a new, clean, dust free flip.
Pitfall #6: Rare coins are at risk of theft. Coin collections are oftentimes in excess of a suitcase in size. It can be difficult to properly secure them. The stories we hear on an almost weekly basis would break your heart. Valuable rare coin collections are routinely stolen in almost every imaginable fashion.
Solution: Even large coin collection can be dramatically reduced in size by converting to gold and/or silver bullion. This can greatly simplify finding secure storage your material. Also, gold and silver bullion is much easier for a grieving spouse or heir to understand and deal with.
Let us take the guesswork out of your rare coin equation. Contact American Rarities today to get your free, no-obligation evaluation and offer for your coin collection.