Whether they’re made of gold, silver, or another precious metal, bullion coins are often even more appreciated by both collectors and potential buyers when they’re part of a collection. If you happen to be thinking about selling your collection, there are some important things to keep in mind. Here are some tips to consider, brought to you by the experts from First National Bullion and Coin. San Diego collectors trust us for our industry knowledge and high-quality service.
Don’t Sell Out of Desperation
If possible, avoid selling your bullion coin collection out of desperation. Ideally, you should take your time to get offers from more than one potential buyer. This will give you the opportunity to determine which one is right for you before you make a decision.
Research Your Collection First
Not being in a rush to sell also gives you a chance to really know your collection and what it’s likely to be worth. Pay attention to things like the dates on your coins and what similar collections have sold for. Being a knowledgeable seller will allow you to make a well-informed decision.
Have Your Coin Collection Professionally Appraised
Taking this extra step will give you documentation that clearly states the appraised value of your collection. Such information can also give you the upper hand when it comes to negotiating with a buyer. Plus, you’ll have a better idea of what’s a fair value when you get offers.
Bonus tip: Consumer Reports recommends getting appraisals from dealers authorized by the Professional Coin Grading Service (PCGS).
Clean Up Your Coins & Make Your Collection Presentable
A highly valued bullion coin collection can look less than impressive if the coins are dull, worn, scratched, or scuffed. The process of removing such imperfections is called reslabbing, and it’s worth having this done if you want to make a good first impression with your collection. Even placing your collection in a new coin display case can make it more attractive to buyers.
Work with a Reputable Buyer
Going the eBay route won’t necessarily get you the best price for your collection. This could also be the case if you sell to a friend or family member. A reputable precious metals firm or dealer, on the other hand, will give you an honest assessment of your bullion coin collection. Typically, offers are based on factors that include:
• Current market values
• The type of bullion your coins are made from
• The quality and age of your coins
• Whether or not the collection is complete
Choose the Right Time to Sell
Pick a time of the year to sell when demand for bullion collections will likely be high. CoinWeek suggests avoiding times of the year when people are likely to be preoccupied with summer vacations or holiday plans and activities.
Allow for a Reasonable Buyer Profit
When selling to a reputable firm or buyer, allow some room for the dealer or private individual to make a reasonable profit. This will also make a trustworthy buyer happy and more likely to want to purchase more coin collections you may have in the future.
If you live in San Diego, silver bars, gold bullion, and coins of the highest quality are available at First National Bullion and Coin. We buy and sell all kinds of precious metals, including silver, platinum, gold, and palladium. San Diego collectors who are looking for trustworthy dealers and high-quality service should give us a call at 858-666-6570 to speak with one of our precious metals experts.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.