When Selling To A Dealer, Follow These Tips

Selling coins to a dealer for the first time can appear intimidating. Yet by prepping adequately, you can do things in a way that looks organised, polished and maybe even more profitable. So that you achieve the best outcome, here’s what to bring.

Your Coins (Properly Organised)

Sounds simple, but you are judged on how those coins look. If you do, then bring them in coin flips or albums with protective holders. Do not clean your coins in advance, as this may decrease their value. Even though they may look dirty, most dealers want coins in original condition.

Organise your collection by type, date or denomination. This tells the dealer you are a serious customer, and that makes his job easier which can be helpful for getting what you want.

Documentation and Provenance

Anything you have in print concerning your coins like certificates of authenticity, which should be validated, appraisals, grading reports (professional services such as PCGS/NGC) receipts from previous purchases. Documentation can add an awful lot of value to a certain coin by making sure it is genuine.

If there is anything to say, tell them about your coins — they could have belonged to someone famous or royal (or perhaps just an ancestral collection of coins) It provides context to the history and thus can add or reinforce value. For Coin Valuers UK, visit //www.gmcoins.co.uk/

Realistic Expectations

More of a state-of-mind set than anything physical, realistic expectations are everything. Before the appointment, learn about your potential coins from online sources; price guides and especially auction results. Bear in mind that a dealer will be looking to make money so they are unlikely to offer retail prices. Usually you’ll get 60-80% of a coin’s market value, depending on demand and condition.

Identification

A driver’s licence is very common and this will be logged with almost any reputable dealer. One form of ID (driver’s licence or passport) This is done to protect both you and the dealer, it’s just standard in the industry.

Questions to Ask

Come prepared with questions. Inquire about how value is determined, if they have a certain type of coin specialisation and what their payment procedure entitles. A reputable dealer will be open and willing to discuss their assessment with you.

Multiple Quotes

Try to secure quotes from more than one dealer, if applicable. Different dealers have different price quotes so shopping around will ensure the best offer is availed for you. No one is pressuring you to sell on the spot, so take your time.

Final Thoughts

With your coins in mostly neat order, any relevant paperwork or identification and just a bit of honest research you will come off as an educated seller. This preparation not only gets you the highest price for your property but also makes this experience very professional and pleasant.