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Coin Buying and Selling - Consignment to Coin Dealers
You should carefully consider the
available options and their advantages and disadvantages before proceeding.
This method of selling coins, in which
the collector chooses a coin dealer to sell his/her coins, but does not receive
payment until the coins are actually sold, has become more popular in recent
years.
Advantages
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As in major auctions, dealers may be willing to accept a smaller commission (perhaps 20%) if they
don't have to use their own cash to purchase inventory, which can sometimes
remain unsold for months or even years. |
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As
with direct sale, this method may be more private and secure than advertising
your coins to the public. |
Disadvantages
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You
don't get paid for your coins right away, and some items may remain unsold. |
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Obvious risk of theft while coins are in dealer's possession, and risk that a
dishonest dealer might disappear with your coins. |
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Price
uncertainty due to market fluctuations and other factors before your coins are
actually sold. |
Advice
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This
method of sale should only be used with established, reputable dealers,
preferable those you have done business with before. |
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Always get a receipt for your coins, agree on a minimum selling price and
commission, and ask what happens in the event of loss. Also agree on a
time limit after which unsold items should be returned to you. |
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