4 Options on Where to Sell Silver Coins

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4 Options on Where to Sell SILVER COINS

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In summary, we’ve identified four potential options to consider when determining where to sell silver coins. Local coin shops are oftentimes the best option, not only do to ease of conducting business, but to also maximize your payout. If you’re not able to locate a local coin dealer that you feel comfortable with, selling coins online is also a very good option. While selling coins through an auction can be costly and has other drawbacks, it’s typically a better option that utilizing a pawn shop or “we buy gold” shop.

Transcript of 4 Options on Where to Sell Silver Coins

  • 1. SILVER COINS

2. If youre new to thecoin bullionandINDUSTRY 3. and are overwhelmed with the number of potential placesto sell silver coins 4. YOURE NOT ALONE! 5. well identify for you1 2 3 4OPTIONS 6. as to where to sell silver coins 7. will discuss the 8. And will provide you with someon how toreceive themost valuewhen sellingyour silvercoins. 9. 1. ONLINE COIN SHOPS 10. TECHNOLOGYAnd the use ofINTERNEThave dramatically improved our livesin a number of different ways 11. and have greatly expanded the number of optionsavailable to us 12. Selling coins online is no exception. A number of onlinecoin dealers exist to whom you can sell your coins.Selling coins throughthe mail is just as safeas selling coins inperson, assuming thatyou do your research. 13. youre able to easily compare rates and identify a coindealer that is paying industry leading prices. 14. The positive is that you can conduct business from thecomfort of your own home. 15. The potential downside is that the turnaround time istypically a couple of weeks and that you may need tospend a decent bit of timeresearchingonline coin dealersbefore conductingbusiness. 16. 2. AUCTIONS 17. both online and in person, are popular ways to sellsilver coinsOnline auctions consist of companies such aseBay, where youre required to post and market youritems. 18. In person auctionstypically involve anauctioneer, who is able tosort and auction off youritems in a way tomaximize the bids. 19. While the gross amount of the winning bid might beacceptable, both options have their downsides.For instance, fees for selling coins through onlineauctions can run 10% - 15%,and this doesnt includeshipping and insurance charges. 20. Furthermore, theres the potential of winning biddersreturning the items or claiming that they neverreceived them. 21. While in person auctions are certainly safer, the feescan be quite substantial, at upwards of 20%. Theyalso involve more coordination with the auctioneer,including meeting up before and after the auction. 22. 3. PAWN SHOPS/WE BUY GOLD STORES 23. While one of the most convenient ways to sell silvercoins, pawn shops and we buy gold stores typicallyarent coin experts and derive their offer price bypaying a percentage(oftentimes a very lowpercentage) of the silverweight of your coins. 24. No consideration is taken for the collectible ornumismatic value of the coins, even though you mayhave extremely old or rare coins in your collection. 25. While not a good option ifyou want to maximize thevalue of your coins, this is aquick and easy way towalk out with payment inhand. 26. 4. LOCAL COIN SHOPS 27. If youre not only lookingto maximize the value ofyour collection, but to alsodo so efficiently, local coinshops are often the bestchoice when weighing theoptions as to where to sellsilver coins. 28. Established and reputable coindealers who are ingood standing with third partyorganizations, such asthe Better Business Bureau, areusually able andwilling to identify for you andrare or key date coinsin your collection that are wortha premium. 29. Silver coin experts can notonly identify these coins foryou, but are also familiarenough with the market toproperly value them 30. The best local coin dealers arewilling to see you byappointment, pay competitiveprices, and are patientenough to answer all of yourquestions to ensure thatyoure completely comfortablewith the transaction.