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Coin Auctions

If you are a coin collector who wants to sell or buy coins, one good way to do it is through coin auctions.

Coin auctions provide the best way to obtain coins that have remarkable values, sometimes at bargain prices. A coin auction is the primary source of rare coins because most rare coin collectors want to sell their pieces to the highest bidder.

Unlike the typical way of selling and buying coins, coin auctions entail some rules and regulations for both the bidder and the seller that they must adhere to.

Coin Auctions Basics

Mail Bid Coin Sale

In this type of coin auction, the seller will advertise and publish their coin auctions through the mail. This is highly beneficial for people who want to participate in the sale but cannot attend the event personally.

Usually, the seller has a mailing list available and it is used to send catalogs that contain the descriptions and pictures of the items to be sold. At times it may contain the starting bid amount and other pertinent auction information.

The seller’s mailing list, the catalogs, or brochures are sent out to the potential bidders. These lists may also be sent to those who have purchased from them in the past.

Phone Auctions

These auctions are conducted by phone. Just like the mail bidding, phone auctions must observe certain rules and regulations.

Once the highest bid is identified, the item goes to the winner. However, there are some instances when people may ask the seller for an approximate selling price but the rules still remain the same, no disclosure of previous bids.

Online Coin Collection Auction

This type of auction is popular because when bidding on a particular coin the bidder is able to see what the coin looks like. Greater interaction between the seller and the buyer may also be achieved as the seller can instantly contact the bidder for important information.

The only drawback to these kinds of coin auctions is that through the Internet sellers can deceive a coin collector into believing that what they see on the screen is exactly the same item that they are bidding on. An auction sniper can also bid the price beyond what you are willing to pay.

Coin Club

People engage in social activities for many reasons; most common is sharing in the same interest and passion as other people. It is in places like these that information about a certain subject is shared and new ideas and trends are revealed that keep its members up to date with current events that happen in that club.

A coin club is the same. Since the number of people who have started collecting coins has increased over the years, the vast coin collecting network involves many clubs in all states. In a coin club amateurs and professionals can share, trade and bid for new items to add to their existing coin collections.

There is never a wrong time to join a coin collecting club. The challenging part is finding one in your area. You can start by asking the local coin dealer for help as they are often in the know as to the number and types of clubs in your city.

Coin Club On The Net

Some coin collectors clubs can even be found on the internet and they usually require that a membership fee be paid. Coin clubs can also often be found in the newspaper especially when events are advertised that invite the public to come and visit like a coin show.

If a person is still having a hard time finding a coin club then check at the local library or the Chamber of Commerce as they may be able help provide information.

Coin Collecting Clubs Have Many Benefits

One benefit of being a member is that it is easier to find someone who will buy your coins at a good price. Or perhaps other members may want to part with some of their coins in exchange (called bartering) for other coins. Most local coin stores only have a limited selection that is available for trading and by tapping into the membership of coin clubs in your area you greatly expand your options for buying and selling coins.

Another benefit of becoming a member is obtaining articles which feature a certain coin collection or discovering better ways of caring for your collection. The club also informs its members about upcoming events like coin auctions or shows so the individual can plan ahead to be able to attend.

Coin collection clubs are formed so that everyone who loves coins can have fun. This means that it is not only for those who have a collection at home; it is open to novices, experienced collectors who have done it for years, as well as coin experts who make a living in the coin business.

Clubs build a valuable network that enable collectors to assist others while learning more themselves. To become a member of a coin club just find a suitable one and join the fun!

Coin Dealers

Coin collecting can be a lot of fun. This hobby which dates back to 2500 BC is much larger now since people are now able to collect currencies from other countries.

If a person decides to sell of some of the coins in their collection, it is necessary to know their value by looking at a coin catalog or price guide. There are many ways to do this and one is looking for a coin dealer to do business with.

Finding Coin Dealers

There are a lot of coin dealers around. Some can be found by asking the local coin club or a fellow numismatist who can give a good referral while others can be found at a coin auction or at a coin exhibit. These people frequent such events looking for a good buy to add to an existing collection. A lot of these individuals can also be found on the web.

To be sure that the person is getting a good price from a coin dealer, it is an excellent idea to visit more than one place to find out who is willing to buy at the highest price. If the person feels that the price is too low, then perhaps it is better to wait until another time since the value of coins depends on scarcity, condition and demand.

Are Rare Coin Dealers The Best Choice?

Some people think that doing business with a rare coin dealer isn’t a good idea since this person will often offer to buy your coins at a lower price in order to sell them for a profit. This notion however is wrong since there are ways to ensure that this dealer will be honest.

To avoid by being conned by someone who claims to be a coin collector dealer, it is necessary to determine that this person is a member of the Professional Numismatist’s Guild. This organization is composed of the world’s renowned collectors of antique coins and paper money and they can be considered as certified coin dealers. Since there are strict rules that members abide by, one can be sure that the transaction is safe.

Coin dealers are not just there to buy coins, these people may also offer for sale a coin that is valuable to the other person. By getting to know the dealer, an agreement can be reached that will benefit both parties, which does not always end mean buying, but also trading or bartering. You may want to join a coin club sharing the same interests and passion for coin collecting with others can be a lot of fun.

Bullion Coins

What are bullion coins? These coins may have high values because they are not only limited; but also may have been found in shipwrecks, or they may have come from ancient times. Bullion coins are the type of collector’s items that many people look for and collect exclusively.

Silver bullion coins could be the most well known type of bullion that is selling very well on the Internet.

Some high priced coins that are for sale on the Internet include the silver ingot. The silver ingot was said to have been found in the Spanish ship Atocha that sank in the ocean. This ship was found to contain treasures and artifacts including silver ingots but others claim that the silver ingots were recovered from an old Colorado Mining area. The silver Canadian Maple Leaf Coins, which are officially sealed, are also popular among collectors.

Gold Bullion Coins

Most bullion collectors prefer gold billion. Some famous bullion gold coins include the gold Krugerrands, which are from South Africa. The European Gold Crowns were released from the late 1800s to the early 1900s. Other items include the Canadian Maple Leaf gold coin and the United States American Eagle coins. British Sovereigns are also seen on the Internet as are the Swiss Helveteas and the French Roosters.

The awesome 10-ounce Swiss gold bar, China gold panda set, and the American eagle proof set coins can also be found and are considered by some to be the most sought after coins on the Internet. There are gold bullion coins found in the American Eagle set, Mixed Lots, Rounds, Bars, and other similar categories that are found on some sites on the Internet

Platinum Coins

A type of bullion coin that is not well known is the Platinum bullion coin. It is less researched on the Internet because the demand for it is not as great as silver and gold bullion. Platinum bullion can be purchased anywhere and include the French Statue of Liberty coins, Eagle sets, and the Koala Proofs.

The World Trade Center has also offered some Platinum bullion like the Englehard platinum bar, crucible dish made of platinum bullion, and the Johnson Matthew Year of the Dragon coins which were recovered from the safety vaults of the building when it collapsed.

A platinum coin can be considered as a thoughtful gift as aside from being valuable they can be kept as a souvenir from the person who gave it. A bullion bar that features a happy birthday greeting can be a great gift for a friend’s birthday especially if the bar has the date of the birthday on it. Some people also use them for their anniversaries as their gifts to one another.

A person has many precious metal choices when buying bullion coins. The idea of giving bullion to a special loved one or friend can be very thoughtful and it can serve as a keepsake that will be kept throughout the years. You may want to talk to a coin dealer to get the value of the coin.

Selling Coins

When is the perfect time for selling coins? This may be a dumb question if asked of a coin collector however timing really does make a difference. There are times when a collector wakes up in the morning and suddenly makes a decision to start selling coins from their collection.

There are also times that a collector needs to give up his coin collections due to personal reasons and the idea of selling his coins may be the most difficult part. No matter what the reasons are, it is a fact that this does occur in the life of a coin collector.

There are many reasons why coin collectors begin selling coins – there are collectors who are dealers as well. Selling coins is their business and they may use it to generate income so that they can acquire other coins that they like.

Selling Coins

Some collectors travel in search of a coin they want and during that travel, they may encounter coins that may not be want for their own collection but they buy them anyway. Upon returning home, they start selling coins they have purchased and make use of the money to buy the coins they are looking for.

There are also coin collectors who gather coins not just as their hobbies; these coin collectors use the coins as their source of income. They make a living from selling the coins that they collect. Sometimes they sell the coins to other collectors and price them higher than the usual price of the coins and this is fine if the collector owns limited edition or rare coins and the demand is great.

On the other hand, some collectors sell their coins because of other factors. They may sell coins because of personal reasons. Collectors sometimes decide to give away their collection because they no longer have any option but sell their coins. This is a most difficult situation for coin collectors as they often highly value their coins and as much as possible would not want to give them away – the coins may be memorabilia or may have sentimental value to the collector.

Once a collector has decided to sell his coins, he must consider if it is really the right time to sell them. Is the collector ready to give away his coins? Is the coin at a higher price now? Will it do well and will he benefit from selling his coins? These factors should always be considered.

Options For Selling Coins

There are other options available to determine where a coin collector could sell his coins. He may want to sell the coins at an auction. Many people now prefer the option of putting their belongings up for auction and this is not limited to coin collections exclusively.

There is also a better chance of having the coin sold at a higher price since auctions often pit buyers against each other and a biffing war can ensue.

A collector may also want to put up a website to advertise the coins that he would like to sell. The Internet is the easiest way for collectors to search for coins, you might even find a website that has a bullion coin for sale. In addition, putting the coin on the Internet will make selling an easier task. The collector may put up his own website and place the pictures of his coins and some brief descriptions on it. He should also note how much he is willing sell them for.

There are other options too: the seller may want to do a dealer-to-dealer negotiation. He can go directly to coin dealers and sell his coins. The dealers then can sell the coins that they purchased to other dealers.

It is important to compare prices between one dealer and another as there is always a chance that one dealer may buy the coins at a higher price than other dealer. It is wise to shop for dealers and then decide which you one you want to deal with.

It is also recommended that collectors who are selling coins use a coin grading service. It is very important so that the seller not end up a loser when he sells his coins. By using a grading service, the seller will be able to set a price that is based on the assessment made by the grading service who will determine the actual value of the coins.