Selling Your Coins, Part 3 of 3

SELLING TO A DEALER AT A COIN SHOW
The United States is home to hundreds of city and regional coin clubs, and many of them sponsor regularly scheduled coin shows. There are national (and even international) shows as well; some are always held in the same place, some are set up in different cities each time. No matter where you live, chances are a show is held somewhere nearby at least once per year.

At a coin show, with dozens or even hundreds of dealers gathered all at once, you can shop your coins around, getting multiple offers before deciding to sell. As with a coin-shop transaction, your payment will be immediate.

Remember that a coin show is a public venue—be alert and mindful of security, and use common sense. Outside the show (for example, in the parking lot), do not draw attention to yourself or publicize the fact that you’re carrying valuable coins.

Most shows will have a program or flyer listing the dealers in attendance. If you’ve done your homework ahead of time, you’ll know the ones you want to approach—for example, the silver-dollar specialists, if you have Morgan dollars to sell. Or you can simply stroll the aisles, looking for dealers who sell items similar to those in your collection. Introduce yourself, strike up a conversation, and ask if the dealer is interested in your coins. This is all part of the fun of a coin show.

CONSIGNING AT A PUBLIC AUCTION
Numismatic auction firms are often connected to larger retail operations that also sell through the mail, online, at coin shows or from a storefront, etc. As with any other venue, reputation is a prime consideration. Study a potential auctioneer’s web site, examine the results of past sales, learn about their numismatic staff, read any coverage they might receive in the hobby’s newspapers and magazines. Look at the firm’s advertisements and catalogs. Are their catalogs professionally made, with attractive photographs and informative lot descriptions? The effort and experience an auction firm brings to its work will affect the bottom line—how much your coins sell for.

SELLING ONLINE
Selling your coins yourself, in online auctions, can be fun if you have the time and talent to do it. This typically requires some skill with scanning or photography (buyers like to examine potential purchases). Each auction site has its own rules and policies, commission rates, etc., that you should read carefully. When it comes to transactions, as always, be security-conscious—for example, you might want to rent a Post Office box instead of using your home address, and you should insist on full, guaranteed payment before you ship any coins.

You can also use the Internet to sell your coins at a fixed price, through a bulletin board posting or other announcement.

Any online sale to the public requires you to take on responsibilities similar to those of a retail coin shop or auction firm. There is work involved, but the experience can be enjoyable and profitable.