Getting the Most Profit from Your Rare Coins

Collecting coins can be a very interesting hobby as long as you understand some basic fundamentals about it. Professional coin dealers spend many years learning and expanding their knowledge about unusual and rare coins. When you shop for coins to add to your collection, you want to shop cautiously and purchase the coins you want at the current market rate or less.

One way to obtain insightful information regarding selling your rare coins for profit is by consulting with a coin dealer who deals regularly in unusual and collectible coins. An experienced dealer can steer you toward the better and safer coin investments. It is also advised to read as much as you can about the coins you are considering as additions to your collection.

Rare Coin Purchases – Graded versus Ungraded

There are two ways to go about making your rare coin purchases.

#1 – One of the surest ways to know exactly what you are buying is to purchase coins graded by the NGC (Numismatics Guaranty Corporation) or another well-known and reputable coin grading agency. These coin purchases don’t typically offer the same investment potential as ungraded coins because the coin value is set when you buy and not likely to change in the near future.

#2 – A second way to purchase coins for your collection is by finding coins that are ungraded. A trader in unusual and rare coins can make a good return on investment if they are wise in their coin purchases.

Coin Trading Economics

As precious metal prices fluctuate up and down, so does the value of gold and silver coinage. Similar to trading in the stock market, you want to buy when the coin value is low and sell when it is high. This makes when you buy just as important as what you buy. A few coins have more value when melted down for the metal than as coins, however this is a rare occurrence with unusual coins.

If you are considering acquiring coins from someone who has held them for some time, you need to have enough knowledge to assess the condition of the coins and determine if improvements are necessary and/or possible. The closer a coin is to mint condition, the more valuable it is. All coin collectors should attempt to advance their skills on the protection and restoration of rare and unusual coins.

The Best Rare Coin Selling Venues

In order to have the most success in coin trading, you must know the best selling venues for rare coins. EBay is one popular choice with many regular shoppers searching for coins for their collections. There’s always the chance of a bidding war and selling a coin for more than it is worth. Then again, you might not even receive a bid on your auction, resulting in no sale even though you still incur the listing fee for the auction.

Another good place for selling coins is at coin shows, which are held in many locations across the country. You can find out about upcoming coin shows in many online sources and printed coin collecting publications.

Trading in rare coins requires patience and knowledge, and the realization you may have to hold a coin for some time before it will trade for profit. You never know when you will find a great deal on a coin, so you must be constantly opportunistic if you want to make the most profit in your coin investments.

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