Where to sell old coins in the United States near me?
The places where you can sell your old coins in the United States will depend on factors such as the piece, its condition, its rarity, and even the demand for the coin.
There are two types of people: amateur numismatists and experts. It is more common than we imagine that there are people who accumulate coins, both from the United States and other countries, without knowing that, with the passage of time and other factors, they could have a high value in the collector’s market.
Here, in Globe Live Media, we have exposed many cases of coins (U.S., in our case) that, despite their face value, even though their face value may be as low as pennies, can cost thousands of dollars in the numismatic market. A numismatist is a person who collects coins, banknotes, securities and medals.
From dimes that are worth thousands of dollars to $1 coins that can be worth millions, it is possible that you have some in your pocket and are not taking advantage of the opportunity to sell them. Here’s how and where.
How to identify that a coin is worth a lot of money?
To identify if the coin you have in your pocket is worth a lot of money in the market, you can approach Whitman’s “The Official Red Book”, which is a guide to U.S. coins. It contains over 2,000 images, with over 7,600 listings and over 32,000 coin prices. It is worth mentioning that despite all this information, the prices are outdated, however, it can be a good starting point to find out how rare and valuable the coin you have may be, if it appears in this publication.
After finding that your coin may have a high cost in the collectors market, you should consider the physical condition of your specimen. A scratch or unnatural wear, appraised by experts, could shave a few hundred dollars off their value.
Are they worth more if they are clean? Beware! When it comes to ancient coins, cleanliness also counts as damage. A coin stripped of its patina can be shiny, but also lifeless. Coin collectors will pay much less for a clean coin, if they buy it at all.
To find out the condition of your coin, the Professional Coin Grading Service (PCGS) is one of the world’s leading coin grading companies. You can use their online resource Photograde to establish the approximate condition of your coin.
After you have all this information, it’s time to find out how much your coin might cost. CDN’s Greysheet offers recent retail values for U.S. coins in every grade. CDN’s Greysheet and Greensheet are the most reliable pricing guides in the industry. However, Greysheet prices are only guidelines and local prices may differ.
Where to sell your old coins?
Now that you know how much your coin might go for, it’s time to find a buyer. From local stores, shows and auctions, there is a wide market for sale, although this will depend on the type of specimen you have.
1. Local stores
Although not common, there are cities that have local coin stores. These places are ideal when you know you have a low to mid-range piece, such as wheat pennies, buffalo nickels, scrap silver and scarce silver coins and silver dollars.
Listing the types of local stores in the United States is impossible, so we recommend doing a search in your area of residence. Check Facebook groups, check online reviews and comments about coin stores in your area. You can also check with the store to see if they have your coin in stock: if they do, they may offer you a low price; if they don’t, the offer may be more generous.
2. Coin show (Coin show)
In the United States there are so many collectors that there are coin shows, which are fairs where different local and national stores are set up to buy and sell different types of coins for cash. At these events, there is usually a Heritage Auctions booth that will often offer free appraisals at major coin shows.
A key word is “come back later.” Depending on how many people are at the booth, the dealer may not have enough time to devote to reviewing the piece, so expect them to come back later because they are interested in your specimen.
3. eBay
eBay is a site for buying and selling any type of items, including coins. However, this option has high fees that discourage many sellers; but it is still an option. Auctioning on this platform, with good photos, can be more profitable.
4. Auction houses
If, after an appraisal, an antique coin has a potential million-dollar sale, the best option for selling your piece is through an auction house. Heritage Auctions and Stack’s Bowers are the two leading auction houses in the rare coin market. Consigning your coins to a major auction house gives you exposure to a global audience of coin collectors, which maximizes your chances of getting the best price.
To accommodate this option, you need to certify the authenticity of your coins. The two largest and most popular of these “third-party grading services” are Numismatic Guaranty Company (NGC) and Professional Coin Grading Service (PCGS). These sites certify, seal in a protective box, integrate all the information and grade the coin.
Coins that have been graded and sealed in a protective “slab” by these two companies have higher liquidity and often sell for more, compared to ungraded coins.