“I inherited a coin collection, now what?”
If you have inherited a coin collection, selling the collection (either as a whole or as individual pieces) can be lucrative — and is a hot hobby and investment at the moment.
Marketwatch reports that some very rare coins have made headlines by doubling in price over the past year, while prices on index from Professional Coin Grading Services (PCGS), have risen 16% since a year ago — and 6,315% since its inception in 1970.
But in order to get as much money as possible in exchange for your collection, it’s important to know what you’re doing:
What to do before you sell a coin collection
- Sort but don’t clean the collection
- Grade and value your coin collection.
- Choose a reputable buyer.
Where to sell a coin collection
How to liquidate a coin collection
- Get the melt value of your scrap coins
- Choose a mailer (FedEx is fastest!)
- Send in your coins and watch for an email or text for confirmation of PayPal payment
FAQs about valuing a coin collection
Before you sell a coin collection, follow these 3 steps:
1. Sort but don’t clean the collection
Harsh cleaning by a non-professional can actually decrease the value of your coin. When in doubt, leave them as they are with their patina intact.
2. Grade and value your coin collection.
Spend some time online on ebay, Reddit, visit a coin store and discuss with coin collectors to understand what is in the collection.
Learn as much as you can about your collection, including from The Red Book, A Guide Book of United States Coins 2022 75th Edition.
Determine the value of your coin or collection: In order to be sure you are getting a fair price, you need to know how much your coins are worth. If your coins are not valuable but are made of gold or silver, you can value your coins based on the purity of the metal and weight of the coins.
You can get your coins professionally graded for a fee.
3. Choose a reputable buyer.
Where you sell your coins will depend on the type of coins you have, their value, and how much work you want to put in yourself. An online metal buyer can be a good option for gold or silver coins with little to no value as collectibles.
Coins that do have value as collectibles, or which do not consist of gold or silver, can be sold to coin shops, pawnshops, online marketplaces, or through auction houses. If you’re selling gold coins, read our overview of the best places to sell gold online.
Where to sell a coin collection
Ultimately, where you sell your coins will depend on the status of your collection. Coins that are truly valuable as collectibles may warrant being sold to dealers or through an auction house. Gold or silver coins that are not rare are generally worth the weight of the bullion. These coins make up the majority of coin collections and can be sold to a metal buyer like CashforGoldUSA, our No. 1 recommendation for selling coin collections.
What you need to know about CashforGoldUSA:
- Founded in 2005, the company that buys gold, diamonds and silver in any form
- A+ Better Business Bureau rating
- Pays within 24 hours
- 100% customer satisfaction guarantee
- Insured up to $100,000
- 10% bonus if you send in your item within 7 days.
Check out CashforGoldUSA’s online gold calculator to see the melt value of your coins:
This calculator is for information purposes only and is not the amount you should expect to receive. It provides the highest melt value of your gold today, not an offer.Your offer will depend on your appraisal.
How to liquidate a coin collection
You can sell a coin collection (as a whole) the same way that you would sell individual coins. Coin dealers, pawn shops, auction houses, individual collectors, and metal buyers can all be excellent options, depending on exactly what you are selling.
If you are not yourself a coin collector and don’t have a clear understanding of what your collection might be worth, working with a coin dealer or auction house can be a great way of learning about your collection so that you are sure you are getting a fair price when you sell. Of course, these options involve their own fees which will eat into your profits.
If you’ve sorted your coins and you believe they’re largely scrap, our No. 1 recommendation is to sell to CashforGoldUSA, which has an A+ rating with Better Business Bureau, pays within 24 hours, and insures every shipment round trip.
1. Get the melt value of your scrap coins
Check outCashforGoldUSA’s online gold calculatoron their homepage to get the melt value of your jewelry:
This calculator is for information purposes only and is not the amount you should expect to receive. It provides the highest melt value of your gold today, not an offer.Your offer will depend on your appraisal.
2. Choose a mailer (FedEx is fastest!)
Your shipping materials will arrive within a couple of days by USPS, or print out a shipping label from CashforGoldUSA and send it in immediately.
3. Send in your coins and watch for an email or text for confirmation of PayPal payment
CashforGoldUSA will send a text and email with a cash offer within 24 hours of you sending in your coin collection. Accept the offer and get paid immediately by Paypal, or chose a check which will arrive in 2-3 business days.
FAQs about coin collection value
Below, I’ve answered some of the most common questions that people have about selling coins, including an overview of how coins are valued, the best places to consider selling your collection, and more.
Are coin collections worth money?
Yes, coin collections are worth either their value as a collectible item or the value of their metal content. The more rare a coin, mintmark, or series, the more valuable it’s likely to be as a collector’s item, which can be sold to a coin dealer or through an auction house.
How do you value a coin collection?
A coin collection can be graded in one of two ways.
On the one hand, you might choose to value each coin individually. This is commonly done when a coin collection consists of random coins. In this case, you would likely base the coin’s value on its rarity, grade, and metal composition.
On the other hand, you might choose to value the coin collection as a whole. This is especially common for collections consisting of a particular type or series of coin. In this case, in addition to the factors listed above, the completeness of the collection can significantly affect how much it is worth.
Do coin collections go up in value?
Rare coins have historically increased in value over time, and the price of gold and silver also have gone up over the years.
As of , the spot gold value in the United States was trading at $ per ounce,or$pergram.
Prices of key rare coins have increased 6,315% since 1970.
How do you get a coin collection appraised?
Coin dealing and appraising is full of scams, so be careful. Look for a dealer or appraiser who holds membership with the American Numismatic Association, as well as one who is listed as authorized by the Professional Coin Grading Service.
How much does it cost to get a coin collection appraised?
A rare coin dealer authorized by the PCGS can appraise or grade your coin collection. Expect to pay $100 to $200 per hour for this coin grading.
If your coins are not rare and you want to sell them for scrap gold or silver, a local metals buyer, pawn shop or jeweler can weigh and grade the quality of the metal, as can CashforGoldUSA.
Bottom line: What is the best way to sell my coin collection?
There are several ways you can sell your coin collection, but these are some of the best ways:
- Coin dealer – Find a coin dealer authorized by the Professional Coin Grading Service who can make you an offer based on their collector’s value.
- Auction house – During an auction, your coins will be listed over a set period of time for buyers to bid on. Depending on which auction house you work with, your coins may be listed at an in-person event, online, or both.
- CashforGoldUSA – Top online metal buyers like CashforGoldUSA.com will pay you the scrap metal value of your gold and silver coins that have little to no value as collectibles.
Get a free estimate on your gold or silver coins from CashforGoldUSA >>
How do you value a coin collection?
A coin collection can be graded in one of two ways. On the one hand, you might choose to value each coin individually. On the other hand, you might choose to value the coin collection as a whole.
Are coin collections worth money?
Yes, coin collections are worth either their value as a collectible item or the value of their metal content. The more rare a coin, mintmark, or series, the more valuable it’s likely to be as a collector’s item, which can be sold to a coin dealer or through an auction house.
Do coin collections go up in value?
Rare coins have historically increased in value over time, and the price of gold and silver also have gone up over the years.
How do you get a coin collection appraised?
Coin dealing and appraising is full of scams, so be careful. Look for a dealer or appraiser who holds membership with the American Numismatic Association, as well as one who is listed as authorized by theProfessional Coin Grading Service.
How much does it cost to get a coin collection appraised?
A rare coin dealer authorized by the PCGS can appraise or grade your coin collection. Expect to pay $100 to $200 per hour for this coin grading.
Who buys old coins?
If you’ve got coins to sell, the good news is that you will have no shortage of potential buyers, including: individual collectors, coin dealers, coin shops, auction houses, online marketplaces, and metal buyers.
How do you value a coin collection?
A coin collection can be graded in one of two ways.On the one hand, you might choose to value each coin individually if you have random coins. On the other hand, you might choose to value the coin collection as a whole if you have a series of coins.
What is the best way to sell my coin collection?
There are several ways you can sell your coin collection, but these are some of the best ways:coin dealer, auction house, or online metal buyer.
