Can I sell my coin?
The money marie The independent finance portalTips and tricks for Marie
Sell coins cheaply
In the course of a lifetime, many people come into possession of various coins. Whether inheritance, Christmas present or your own passion for collecting (coin collectors are also known as "numismatists") - one or the other drawer with coins can accumulate.
If you then want to part with these coins (for whatever reason), the question often arises: Where can I sell my coins at the best price?
First determine the value of the coin
Before you sell coins at the flea market (to well-informed buyers) well below their value or even spend them at their face value in the shop (that would be a huge loss for precious metals), determine the value of the coin (s).
In the case of more common coins, a look on the Internet is often enough: many coins are continuously traded on Ebay. Watch this coin (s) until the end of the auction - a fairly accurate value determination will probably succeed here. But also make sure that it is an equivalent coin!
With rarer coins, the value determination is a bit more difficult. If no clear value can be determined, you can either get specialist reading (ANK coin catalogs for coins from Austria are recommended here) or go to the nearest coin dealer. But don't sell to the first bidder straight away! Incidentally, catalog prices are only intended for orientation - with precious metals, these values can change quickly (with the material price) up or down.
In the case of precious metals, you should therefore also calculate the current metal value of the coin (at least approximately) - on the Geldmarie you will continuously find the rates of: gold price, silver price and platinum price.
There is also a lot to read in many sections about the approximate values of collector coins, gold coins or silver coins. Just click through it once.
There are a few ways to sell coins cheaply. These options are primarily based on the type and value of the coins available.
Sell investment coins at the bank
As a rule, classic investment coins made of precious metal (gold, silver, platinum, palladium, etc.) are traded at fair prices at the bank counter. Whether gold or silver philharmonic orchestras, gold ducats, gold guilders, gold crowns or other popular silver and gold coins from home and abroad - ask your house bank or other bank branches about the purchase price of your coins.
If you have a particularly large number of or valuable coins, you can sometimes even negotiate a slightly better purchase price when buying through the bank - at least it doesn't cost anything to ask. And the comparison at one or the other bank branch can also be profitable - the prices for precious metals usually differ from bank to bank.
Classical collector coins (e.g. special commemorative coins) are bought by banks less and less - the daily price formation for all collector coins in gold or silver would probably be too difficult.
Have collector coins assessed by the coin dealer
Many collectors' coin buyers often only pay the gold or silver value of a coin. The collector's value is rarely worth a premium here.
If a bank does not buy coins (due to a lack of ongoing price formation), the only option that remains is often to trade in coins. You should definitely get several offers here - the price differences (especially for rare coins) are often extremely high.
Although the prices here can be very different - the comparison effort (coin dealers are often widely scattered) should be in line with the expected value of the coin. Because of 20 euros you don't have to drive all over the state ...
From time to time a comparison is also possible via email - maybe write to several dealers, the best price bidder will win the bid. A picture of the coin (s) certainly makes sense here - the condition of the coins is very important.
A small list of coin dealers can be found here: coin dealers Austria
The Dorotheum would also be an option here - knowledgeable appraisers often sit there. Of course, top prices are not guaranteed at Dorotheum either - after all, the Dorotheum also has a buying and selling range.
Consult coin collectors and collectors' associations
Numismatists are also an easily dying breed (although the stamp collectors are even sadder here) - and yet there are still very many people who collect coins or are familiar with coins.
Ask friends or known coin collectors or collectors' associations about the possible value of coins. Often this even results in a business and you save yourself trips and expenses. You should have a rough idea of your values before such conversations - even if coin collectors are usually fair people ...
If you have sold or bought coins (e.g. on the Internet), keep in touch with these business partners. For example, if there are many coins available, you can set up an email distribution list with coin collectors who will be informed of the upcoming sale of coins. Often there are transactions with suitable prices and advantages for both business partners.
There are no expenses when selling coins privately - banks and coin dealers naturally have their (often not insignificant) margins. If you have found a fair average here, buyers and sellers benefit from private sales. Of course, this also applies to investment coins!
Sell coins on Ebay
Selling various coins on Ebay is also a variant. Investment coins are probably not really suitable because of the sales expenses on Ebay (the bank usually pays more there) - but collector coins are very often offered on the auction portal.
Even old coins (crowns, guilders, shillings) can often be sold reasonably here - but before selling you should definitely do a little "market research" and observe similar coins.
Even if a lot of collectors bid on Ebay (which usually achieves a reasonable price) - the expenses on Ebay are unfortunately quite high (approx. 10% of the sales value). If you ask a coin dealer or collector beforehand, you will know sooner whether it will pay off.
If you don't trust the online auctions, you can also set the offer with a fixed price. Perhaps there will be an impulse buyer who will also pay the slightly higher price. If not, you can always reduce the fixed price.
Good photos of the coins (type and condition are important!), A sufficient description and long running times (e.g. 10 days) are certainly recommended here. Make sure that the auction does not end on a public holiday or at unfavorable times, because then the buyers are often missing in front of the devices ... Sunday evening is very suitable for selling coins on Ebay - most professional sellers or commercial sellers well know that people have some time and are just ending the weekend ...
Selling coins at the flea market
Before selling expensive coins at flea markets, be warned: professional dealers could cheat you (if you have no idea).
Only the cheapest coins (in the cent range or single-digit euro range) are perhaps suitable for flea markets - the risk of theft is also very high here.
Of course, one or the other contact can be made with serious collectors at the flea market - with an emphasis on "serious"!
Sell old gold and broken gold or silver
Old jewelry, dental gold, old gold, broken gold & Co. can of course also be converted into face value (or bills). Old coins, on the other hand, are usually worth more than just the price of gold.
Here you can either go to the old gold buyer in person (there are already many in Austria) - or sell via the Internet (that works very well with reputable dealers). A comparison is very important, especially with old gold or broken gold or silver.
You can find more information about the sale of broken gold under: Sell broken gold and old gold as well as in many gold sections of the Geldmarie.
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