AboutMyCoinSelling Coins
Nobody pays what a coin is worth, and knowing why is what makes an offer judgeable.
Whoever buys your coin has to sell it again, and the gap between those two prices is their income rather than a slight against you. What changes with the venue is the size of the gap and how long you wait for it.
The answers here cover what a buyer will hand over, where to find the buyer, and why the metal price you looked up is not the number on the cheque.
How much can I sell my coin for?
Less than the coin is worth, because whoever buys it has to resell it and the gap between the two prices is their income. On a coin valued for its metal the gap is narrow and predictable; on a collectable coin it depends on how quickly the buyer can find the next owner.
Where can I sell my coins?
Bulk silver and gold go to a bullion dealer, who prices them off the metal in one calculation. Collectable coins go to a coin shop, a coin show, an auction house or an online marketplace, and which of those pays best depends on how much the coin is worth and how long you are willing to wait.
Can I sell my coin for spot price?
No, and it is not a sign of a bad buyer: spot is a wholesale price for refined metal in quantity, and a coin is neither refined nor wholesale until somebody has sorted, verified, transported and processed it. Every one of those steps sits between your coin and spot, and the buyer is paid for them out of the gap.
Other topics
- What a coin is worth — Four things set what a coin is worth, and the year stamped on the front is only one of them.
- Grading and condition — Condition is the largest variable in a coin’s price and the one most easily destroyed at home.
- Silver, gold and spot prices — The metal in a coin is the part of its value that is calculated rather than judged.