Q:

What are some tips for selling foreign coins?

A:

Quick Answer

Some tips for selling foreign coins include appraising the coins to determine the potential resale value compared to their face value, refraining from cleaning the coins to avoid causing damage and comparing prices between dealers and private buyers. When selling the coins through an auction or classifieds site, take clear pictures of the obverse and reverse images and mention the year in the description.

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Full Answer

It is often helpful for sellers with foreign coins to obtain a professional appraisal to determine the value of the coins in the current market. When seeking an appraisal, it is important to choose an appraiser familiar with foreign currency, as the sale prices are often different than American coins. Obtaining an appraisal not only allows the seller to set realistic expectations and sale prices, but it helps identify potential buyers either through the appraiser or local buyers. Some appraisers also offer certificates of authenticity to help reinforce the sale price at a later date.

Sellers should also refrain from cleaning the coins, as many cleaning agents may damage the exterior of older coins and cause additional harm that lowers the price. During the sale phase, always include multiple images of the coin that highlight both the images on each face of the coin as well as its minting date. This allows buyers to verify the coin and understand its value. Auction sites such as eBay.com allow sellers to reach a larger market, verify payments and receive limited coverage in the event of fraud.

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