Q:

How can you sell old coins for cash?

A:

Quick Answer

Online auctions, coin shops and in-person auctions are the best ways to sell old coins for cash. There are other ways to sell old coins, but the seller should do detailed research before accepting any cash offers for coins.

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How can you sell old coins for cash?
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Full Answer

Old coins can have great value. There are several ways a person can sell old coins, but it is important that the seller understands the process and knows the risks that come with whichever method of sale he selects. The first thing the seller must do is determine the value of the coins. A site such as coinsite.com can give a ballpark value for old and collectible coins. Once the coins have been valued, the seller must find an outlet to sell his coins.

Most collectible coins sell for less than their actual worth, since buyers want a profit. Local coin shops typically offer fair prices for coins, as well as in-person auctions if the auction house is interested in handling the coins directly. Online auctions are also an option. Other options, such as "buy cash for gold" websites or hotel operations, offer much less for old coins and count on sellers not knowing their actual value, so avoiding these outlets is good a idea.

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