If you have inherited or started a coin collection, you might be interested in coin selling and buying. Whether you are the buyer or seller, you should take your time and handle each transaction strategically. The guide below outlines what you should and should not do when buying or selling coins.

Do:

Research the coins.

Before jumping into coin selling or buying, take the time to do your due diligence and identify the contents of the collection. It is in your best interests to understand the history and current market value of the coins. There are a few ways to collect information, including internet searches and consulting with other collectors, but the most reliable method is appraisal. Appraisers can tell you all about the collection, including the overall value. If you are getting ready to buy coins, know what you are looking for and research their value.

Store the collection properly.

All coins are susceptible to wear over time, but you can protect your collection and preserve their value with proper storage methods. Coins should be kept separated to prevent them from damaging each other. This is best accomplished with individual holders, folders, or albums. Keep the collection in one space to avoid losing any. Place them in a cool, dry location with a consistent temperature, ideally in a climate-controlled room.

Don’t:

Feel pressured to buy or sell.

While there are plenty of honest, reliable dealers and collectors, some might try to push you into a sale. These types of buyers and sellers may be trying to take advantage of you. Remember that you are under no obligation to buy or sell coins with any party, even if the dealer performed the appraisal. Only trust a dealer or collector who gives you time to do your research, consider their offer or price, and shop around.

Clean the coins.

There are some products purportedly made to clean rare coins, but you should never use these. Cleaning agents can damage the coins and depreciate their value. When you handle your collection, use soft cotton or latex gloves to avoid leaving fingerprints and oils. This, combined with proper storage methods, will keep the coins in top shape.

Whether you are interested in coin selling, buying, or appraisal, you can count on Coins Plus to offer a fair price. Serving the Cincinnati, OH, area since 1972, their members are nationally recognized industry experts with over 100 years of combined experience. They are widely known for their integrity, knowledge, and fair pricing for rare coins, paper money, and bullion. Learn more about their services online. To speak with a professional dealer, call (513) 621-1996.