Selling items from your coin collection is a great way to have extra income. Almost every coin collector has duplicates, which can be sold right along with the other more valuable items. Whether you sell through an auction or individual ads there is always a collector somewhere looking for what you have to offer.
A coin auction is usually the first way you may think of to sell your items. They can be sold as one entire lot, but it’s more fun to sell the individual items. The older the better, an old collection will sell faster than a newer one.
Set your prices by the book value at reasonable prices in competition with other sellers. Dealers will want to buy your coins at a reduced price so they can make a profit when they resell them. So keep this in mind when you set your prices.
Your coins should be cataloged and individually placed in a small flat plastic coin box or paper coin holder. Coins will pick up oils etc. from the skin, so it’s best to have them protected.
You can also place ads on classified sites. Make sure you have a secure way of accepting payments. There are many scams out there waiting for the unsuspecting seller. Use one of the secure online payment processors, so you have recourse in case something goes wrong. Or simply request payments by postal money order.
You may want to create your own website with a link to Paypal for payments. There are several places online that will allow you to create a free website. It’s not that difficult. Create one page for each denomination of coins. Upload a few photos of the main coins, write a good description, and include a list of the other coins of that denomination. If you have secondary proof sets, or a currency collection create a page for them separately.
Advertise your website links any place you can find. Always include your website address as a signature in your email. Join forums and groups on coin collecting to learn what services other collectors are having success with. Another secret is to put your website address on the back of every envelope you send out, even bill payments.
Be sure to check magazines and other ads for want lists. Create a list of your coins and place it in an auto responder, it will save you a lot of time.