Tuesday, November 6, 2012

Selling Coins To Your Advantage For Many Reasons

You've heard the stories of someone finding their parents old coin collection in the attic and cashing it in for large sums and you say to yourself, "I wish I could have that luck". In reality you may have valuable coins lying around and you don't even know it. Whether it is pennies, nickels or exotic coin sets, the world of coin collecting is pretty extensive and growing.
It is important when selling your coins to know what exactly you have. There are different ways to judge a coins worth. The Coin Grading, the rarity, the interest in the coin(s) and the liquidity value. There are many different coins and collectors out there but if you have coins to sell the first thing you must does it educate yourself on the product.
Arguably the most important part of determining the value of a coin is Coin Grading which is the condition of the coin. There is an extensive grading scale; Basal State or Poor(PO), Fair(Fr), About or Almost Good(AG), Good(G), Very Good(FG), Fine(F), Very Fine(VF), Extra Fine(EF), Almost or About Uncirculated(AU), Uncirculated(Unc) and the highest, Brilliant Uncirculated(BU). Depending on where your coins fall in this grading system will greatly impact the value of your coin.
Of course another important factor in coin value is how rare it is. First find a reliable coin dealer or numismatist and take your coin(s) to get properly inspected to determine the value and rarity of your product. Once you know what you have and how rare it may be, you can figure out what market to invest time in.
Close to the rarity factor is how much interest your coins have in the open market. This is your basic consumer demand principle, the more collectors searching for that coin or set the more you'll be able to sell it for, while the less people are searching for the coin the less you may get. Now this is not always the case as it depends on the collector and their individual interest in what you have.
Lastly, probably the smallest factor when selling coins the collectors is the liquidity factor, how fast or easily you can sell the coin. For most collectors they prefer to have heir complete sets or collection.
However there is much coin enthusiastic who just want to coin(s) to be able to sell somewhere else, auctions, events etc., you may be able to sell your collection to these types of buyers easier you may not get the complete worth of your coin(s). Other than the collectable coin sets there are Gold and Silver Bullion which are strictly meant for their liquidity value. These are used as investment pieces rather than collectables.
Thousands of people sell gold online to make ends meet easily at the comfort of their own home. With a little knowledge about selling jewelry you can earn a weekly paycheck for extra things like vacations, or home remodels.

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