Pitfalls of selling coins at Pawn shops and Gold & Silver buyers
If you have an old coin collection, perhaps you have inherited it from a parent or grandparent and have decided to sell it, be careful of where you go. Selling coins is not the same as selling scrap gold or silver, many coins carry numismatic value, that is the value of the specific coin itself not the metallic content of it. When you go to pawn shops or gold & silver buyers they are buying the metal content of the coins not the collectible value of the coin itself. Often pawn shops and gold buyers pay you significantly less for your coins than they are worth because the collectible value is often worth more than the gold or silver content. When buying for the metal value the margins are slim, thus they tend to pay you below what the metal value is worth in order to be able to sell it at the current value of the gold or silver. The current market price of gold or silver is often referred to as the spot price, meaning at this particular time gold is worth $___ and silver is worth $___ for current real time precious metal spot prices you can goto: https://www.cashforcoins.net/spot-prices/ the goal of pawn shops and gold or silver buyers is to pay below spot price and then sell for spot price keeping the difference. This while good for them is not good for coin sellers as it prevents them from maximizing their return or profits and does not take into account the collectible value of their coin collection.
When selling old coins or coin collection you should follow these important steps:
- Get offers or valuations from coin dealers or coin buyers, NOT Pawn shops or gold & silver buyers
- Ask questions about the collectible value vs the gold or silver value
- Get Multiple offers, DO NOT just get one offer, you will be surprised by the difference in offers you will receive
- Do some research, if you want to get an idea of a coin’s value you can always use free coin, estate collection or coin collection evaluation services like this one: https://www.cashforcoins.net/get-a-quote/
- Understand that in many instances the best value or most money you can get for your rare coins, gold coins or silver coins may not be from a local dealer as local dealers have captive markets with limited competition so often they may not offer you the full amount due for your coins or coin collection.
Conclusion
Understanding where to sell your silver is not as hard as many people often assume it is, although its not as easy if you want to get top dollar for your silver coins. It requires some effort to compare prices. We recommend you to consider www.cashforcoins.net as the best option to sell your coins or bullion.
Best online place to sell your coin
The best place to sell your gold or silver coins is dependent of a variety of factors like type of coin you are selling, how fast you want to sell, transaction fees insurance and shipping fee, so there is not one best place.
CashforCoins.net A leading Nationwide coin buyer, they are only a buyer and do not sell coins. Have a few nice free tools on their site like free instant offers for coins, free nationwide database of local coin dealers and lots of coin news and articles
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