What will coin dealers pay

Solid return policies — If a coin dealer seems hesitant to accept returns, you should be hesitant to shop there. Most coin dealers allow returns within 7 to 10 days, assuming the returned item is accompanied with a receipt and in its original, untampered holder. Acceptance of many payment types — Some businesses today accept only cash, but if a coin dealer turns up his or nose at your plastic, you might want to zip up your purse strings.

Using a credit card allows you to have recourse in the case of being victimized by fraudulent business practices. Some coin dealers swear by the ANA grading standards, whereas others prefer Photograde.

There are many other standards out there, but before you buy any coins from a coin dealer, find out what type of grading guidelines he or she uses.

First, when inspecting the coins you wish to purchase, be sure that you handle them properly. Holding coins over a pad cushions their fall should one accidently drop. Even with the protection a soft pad may provide though, it is important to never drop coins. Dropped coins usually suffer some type of damage, lowering the value of the coin.

The coin should be held between the tips of your thumb and forefinger. There is also the time it takes to create a good listing and the need to wait and see if your item sells. If it does not, you are still out the listing and insertion fees. This leaves the option many choose, selling to a dealer — either your local dealer, at a coin show, or via mail if you are dealing with a major dealer who buys a lot such as APMEX.

If you are careful to choose an honest dealer with lots of experience, you are more likely to get a fair price. If you have something that is likely to take time for the dealer to sell, and which he has plenty of, you will obviously receive less.

You may want to try someone else who specializes in that kind of coin, who may be able to pay more. If you are selling a desirable precious metal coin that has a strong wholesale market, such as PCGS- and NGC -graded generic pre gold, or better modern U. Mint products with low mintages, you will probably get a price that is at least equal to what you would get if you retailed the coin yourself on an online platform. Dealers buy and sell such coins on very small margins generally and make their money on volume, whereas they have to make a larger profit on lower-end items to compensate for the extra time it takes to sell them.

Keep in mind that in most cases, when selling such an item, you are selling to a dealer who is likely to wholesale your coin to another dealer for a small profit, rather than trying to sell it in their store or on their website.

Without information, the dealer can be deceived. The dealer must know coins back and front-he must be an expert in grading the coins down to the finest detail. If the dealer can't be trusted to know his stuff, he isn't going to be the kind of bridge needed between the seller and buyer. The dealer must also be a star-gazer and know the future of coin values. If he offers a price, he needs to know that it will one day fetch him a profit.

This way he minimizes his risk and makes money. Like a spider waiting for a fly, the coin dealer will wait patiently for the right type of collector to come into his shop. This collector will pounce on the coin and not want to let go, willingly paying the price that the coin dealer asks. Summary: You must be speculating how a dealer of coins is capable of making so much money.

It actually depends on the collectors and buyers of coins known to the dealer. To obtain coins, the coin dealer has to have a wide network of people who might be interested in selling their coins. Next he has to persuade them that they will get more price than the actual value of the coins by selling them. The coin dealer gambles in this trade. Most Popular. What is Translation? Any competent coin dealer will be able to identify the coins for you.

But if you'd like to arm yourself with knowledge ahead of time, here's a list of some of the most popular United States coins to collect. The links provided will direct you to images of these coin designs so you can easily recognize them. Unlike auction websites, there is no seller's fee. We have a brick-and-mortar storefront in Lutz, Florida, just a few miles north of Tampa, and offices worldwide. You can easily find us on social media. We also buy coins online, making it the easiest way for you to sell us your coins no matter where you are.

If you're ready to sell your coins to the right place, follow the link! It's always a good sign when a coin dealer is a member of prestigious industry organizations. For more information about selling your coins to Gainesville Coins, please email us or give us a call at One of our expert coin professionals will be glad to further educate you on how to sell your coins to us and a fair price of how much they might be worth. Joshua McMorrow-Hernandez is a journalist, editor, and blogger who has won multiple awards from the Numismatic Literary Guild.

He has also authored numerous books, including works profiling the history of the United States Mint and United States coinage. More information about buying and selling coins from the numismatic experts at Gainesville Coins:. Don't be the last to know about the latest deals and new product arrivals.