You just inherited a coin collection and you’re not sure what to do with it – most people don’t know. You guess the collection probably is worth money, since, after all it is money and gold and silver prices are up. So the question becomes how to sell my coins. If you live in a city large enough to have a few pawn shops in place then that is a good place to start. However, all pawn shops are not created equal and becoming an informed seller can make a big difference in the final price you receive.
Buying and selling coins can actually be done a few ways, with pawn shops probably being one of the easier ways to do this. Since these shops can be found in every state and are easy enough to locate via the internet or by asking someone you know if they know where a pawnshop is located, you can be sure that a lot of coin sellers often find their way to these shops all the time. Of course, not all of the coins people bring to these shops get sold. There are some rules that have to be followed when it comes to the purchase of coins after all.
While most pawn shops do buy and sell these coins, there are a few who are not comfortable with such an endeavor, and with good reason. Not all pawnshops can verify if a coin is indeed a legitimate collector’s item, and with many unscrupulous individuals out there trying to make a quick buck by fabricating old coins and selling these off as the real deal, it is understandable why some pawnshops are wary of such items.
Whether you are a collector or a seller, a pawn shop is one of the places you should definitely check in order to sell or buy gold and silver coins. Who knows what you may find on the shelves of these shops when you visit them? You might find some of the best coins to add to your collection from these shops and at a lower price than you expect them to be in.
Why are some of these rare and valuable coins being sold at a bargain price in some pawnshops? A lot of people tend to pawn stuff they own (silver coins included) for a quick infusion of cash, with the intention of getting these back, but there are times when getting these back prove to be difficult. When the redemption period for these pawned coins runs out, for pawn shops to get back their money, they usually sell these off at a slightly higher price than what they got these for.
Now, since people who pawn items often get paid lower for these than if they chose to sell them in the first place, the selling price of such unredeemed, pawned items will usually be lower than if these were sold outright to these pawn shops. In other words, there is a high chance that a rare coin can be bought for lower than its actual value if found in a pawnshop. Where do you find such treasures and how do you chance upon a low priced yet valuable find?
Buying silver and gold coin on the shelves of a pawnshop is not impossible, but it can be a hit and miss kind of endeavor. Since not all pawn shops know how valuable some coins may be, and some of these businesses buy whole collections without scrutinizing each coin in it, you might chance upon a rare gem from such places. Of course, some pawnshops do go out of their way to contact an expert to check on a collection before they pay for it, and a few more even have people who know a fair bit about such items. In these cases, you can expect to shell out more for a coin you want since these will be carrying the value that they truly have.
If you are thinking of letting go of some or all of your rare coins, there are a few things that you need to do in order to get the best possible price for them. While some people go to coin dealers to sell their coins, others find that dealing with a pawn shop is better, especially if they are thinking of getting these coins back. Either way, whether you choose to go to a pawn shop or a coin dealer, there are a few things that should be done.
First up, you should take great care to do some research about your coins. How valuable is each one? How rare are the coins in your collection? How valuable is each piece? Knowing these and a few more details about your coins will help you get the best possible price for them since you will be able to show either the dealer or the pawn broker that you do know a thing or two about what you are trying to pawn or sell.
The next thing you need to do is to prepare your coins been it silver or gold. You need to decide whether you are going to sell an entire collection or if you are going to sell individual pieces. The reason for this is that some coins can be sold more as individual pieces than as a part of a set. The reason for this is that, when sold as a set, some coins that are not really valuable need to pay for even though the buyer does not need them. Those who know a lot about coin collections can easily tell when coins of real value are missing from a collection and can easily judge the value at a glance.
A fast way to earn money is by selling your old or unused silver coins. Selling gold and selling silver are both very popular these days. You should try to sell these types of coins and see how much you and your family can advantage from them.