Q:

How can you sell coins?

A:

Quick Answer

Coin collectors can sell their coins in one of three ways. They can sell them at a physical auction, to a coin shop or at an online marketplace.

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Full Answer

Selling coins at a physical auction requires taking the coins to the auction house and making sure they will be approved for sale. Auction houses charge a fee for selling coins, and the fee will either be a flat rate or a percentage of the sale price.

Selling coins to a coin shop means the seller will receive from 20 to 40 percent less than the coins are worth. The benefit to selling coins this way is that if a seller does not like the terms of the sale, he can walk away. This is also the preferred method of selling coins very quickly if the seller can deal with the loss.

Online auctions or marketplaces seem to be the preferred method of selling unwanted coins, but this type of selling takes longer. However, it is the easiest way to make sure the seller gets what the coins are worth. Using this method usually means coins are sold one at a time, but sellers should familiarize themselves with the fees online auctions charge before listing their merchandise.

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