Coin Buying and Selling - Direct Sale to Coin Collectors
You should carefully consider the available options and their advantages and
disadvantages before proceeding.
Sellers often express a desire to sell directly to
collectors to reduce or eliminate the 20% or higher commission charged by coin dealers.
Advantages
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Potential to sell
some items at a higher price than dealers typically pay. |
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Satisfaction and
fellowship from association with other collectors. |
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May be able to sell
locally without having to ship items. |
Disadvantages
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Very few collectors (even out of a
large coin club) will want to buy your coins at the same time you want to sell,
especially if your collection consists mostly of common items, or items that
don't have much of a local market. |
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Collectors don't want
to pay full retail price unless they have a strong desire for a particular
(usually hard-to-find) item. |
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If you advertise too
widely that you have coins for sale (for example, in a newspaper classified
ad), you could expose yourself to risk of theft.
|
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If you don't know the
person you're dealing with well, you're also at significant risk of
other serious problems such as bad checks, or disputes about wanting
to return an item. |
Advice
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If you do wish to
sell directly to local collectors, you should join a
coin club and meet other members who have collecting interests similar to
your own. Some clubs have auctions, which works best for moderately
priced items that have a wide collecting interest. |
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Alternatively, you
can ask that an announcement concerning your coins for sale be made at a club
meeting or in a club newsletter. Click here
for PNNA advertising information. |
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For some collecting
specialties, consider national coin clubs and organizations, a few of which are
listed on our outside links page. |
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