3 Smartest Ways To Cash Out Your High-Value Coins

Nicholas Morine  Wed, November 13, 2024   GOBankingRates

Whether you’re a seasoned coin collector or just started looking into precious metals and numismatics during the recent resurgence of interest surrounding this investment community, it’s important to know when — and where — to eventually unload some of your prize pieces.

There are options aplenty, ranging from reputable coin shops to travelling coin shows and traditional auction houses. What exactly are the smartest ways to sell your most valuable coins?

Established Coin Shops and Dealers

The tried-and-true method when it comes to selling your most expensive coins, established coin shops in your area can be a convenient — and financially beneficial — place to do business.

“Selling to a local dealer is one of the easiest options; it doesn’t require any shipping, minimum values or extra hassle. You get paid up front for everything, hand it over the counter, and you’re done,” wrote Lianna Spurrier for the American Numismatic Association (ANA) blog.

There is at least one major downside to selling to a coin shop, local or otherwise, according to Spurrier. Allowing that the dealer has to make a profit on your coins after having purchased them, you may not receive close to full retail value for your collection.

With that being said, having cash in hand as soon as you exit the shop is a major point in favor of this option. Those who opt to sell their product to reputable online dealer, such as APMEX, may have to wait slightly longer for payment to clear — largely due to shipping and processing times.

Travelling Coin Shows or Coin Expos

Travelling coin shows or coin expos can be very exciting, both for buyers and sellers. If you’re looking to lighten your collection, however, there are a few things to consider when thinking about selling to a vendor at one of these shows.

One advantage? The capability to comparison shop for the best price is placed right at your fingertips when you attend such a show.

TO READ MORE:  https://www.yahoo.com/finance/news/3-smartest-ways-cash-high-120032382.html