Q:

How do you sell foreign coins for cash?

A:

Quick Answer

Foreign coins and currency can be sold in a variety of ways, depending factors such as age, face value and the exchange rate. Selling to a collector or fellow traveler can bring a better price and help avoid incurring exchange fees.

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Full Answer

Before selling foreign currency, the seller determines its origin, age and current face value. Antique currency is typically of high interest to collectors, who can be found in local businesses as, well as on the Internet. A seller should find out what similar currency has sold for before accepting an offer from a collector and research the buyer thoroughly before making the sale, especially if trading via the Internet.

If the currency is still considered legal tender and does not have collectible value, it can be traded at one of many currency exchanges, often located in major airports. This service generally charges a fee, which can be large depending on the location. Some banks and companies that offer travel services can also exchange currency and can offer a better price to customers and members. Private individuals who are preparing to travel may also wish to purchase foreign currency and may simply pay face value without charging a service fee.

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