Antique coin appraisal: A beginner’s guide for buying and selling coins

With the price of silver on a significant rise, now would be a great time to look what might be in a jar of old-pre-decimal coins stashed in the back of your drawer. From buying a silver coin to selling for a profit and scrap values of damaged and worn coins, there is a lot to know about rare coin appraisal.

Asking yourself a question: Are you a collector or a dealer?

As an enthusiast who wants to pursue an interest, it is important to know buying your coins depends on a lot of variables. As a collector, you will buy the coins you need but, as a dealer you will buy job lots and try to make the money you can. As a collector you can buy job lots of coins as well and then select the coins you want and sell the rest to get back the money. This way your collection comes for free or a little effort. We are here to share the tips to help you maximize your profit while buying and selling coins.

1.Sift through the coins: When you are looking to buy job lots of coins, sift through it to check if they have removed the silver coins. For instance, look for the coins that pre-date 1946, if there are many silver coins then the odds are the seller is not a dealer and you can buy the lot. This may take a while but the effort it worth it. Separate them all, start from checking grades. To sell antique coin, you need to know if it is a high-grade coin so, it is worth selling on its own. This way they go in one pile to be identified and valued later. Worn coins are not worthless but, can have little to no value.

2.Buying and selling: Online shops make a good coin market as it connects buyers and sellers from across the world. Go for a coin appraisal online as this marketing strategy connects you with the best pieces and you can buy the coins for cheap. You can also go to auctions, coin fairs and meet specialists in flea markets and fairs. When you are buying bulk coins the prices in much cheaper than when they are sold singly. Yes, you will have to dig in the boxes of junk in car boot sales but, you can find sovereigns hidden in the button boxes. Focus on the rare coins where the money is when you bid online with large auction houses with rare coin wholesalers.

3.Scraping the coins: Scrap value is the scrap price for a coin of any date in any condition is just the metal value to melt. Make sure there are no rare coins and search for information to know what the coins are made of and anything you cannot identify, put them aside or you could make a mistake of dumping something worth the money. Once you have exhausted all the areas of search and are not able to place the coins in a category, you are left with mostly modern mix of metal coins. Weigh them up and sell online per kilo on mixed world coins. If you hoard the metals you have the chance of the value going up or down as it changes every day and every hour for some metals. The chances of losing money are slim to nil if you are safe with this simple guide.