Friday, June 17, 2011

How to sell coins?

Many readers always asking me the same question; How to sell coins? Where to sell my coins? Do you know what is the best way to sell my coins? I wrote Where to sell your gold coins before in here but many people don't read it or don't know it is almost the same thing. Many newbies also asked about grading (UNC, EF, VF) and what they meant, I already wrote a grading tips for newbies (with pictures); newbies coins picture grading & newbies banknote picture grading. If you're looking for Malaysia coins & banknote price, I also had posted them before in price and value label/categories. 

sell coin

How to sell your coins (banknotes) in Malaysia?

1. Sell them online
The best way to sell your coins is try to sell them online yourself in, or eBay Malaysia. Its not hard to start. What you need is just to register your ID and post your item for sale. make sure you give the best pictures for your coins; obverse and reverse pictures. Your pictures should be around 800 pixels and buyer could see the details of the coin. You also need to give as much details as you can. If your item is proof coin, it will be easy to find the details since you have the card with you. If you don't have the details, try search them in Google. If you're newbies, try to avoid buyer from oversea. Don't forget to add your contacts number in the post.

2. Among other collectors.
Networking among other collectors is an important thing if you want to sell your items in the future. Without any friends, people will be afraid to deal with you since nobody know you. Most people afraid that they will get scam with a fake coins. Try joining a group in Facebook, register with Malaysia Numismatic Society or any other numismatic group you can find. Collectors will give you the highest price from other type of buyers. Just don't meet them online, meet them offline (in the real worlds) as well.

3. Coin shops
Coin shops should be the last place for you to look for buyer. Most shop will normally buy your coin at least 50% from their market value. Try to asked around on the same day for best price before you decide to sell them to the shops. You can also check online if your coin is rare. A rare coin have a high value if you're selling them in a coin shop. Just Google any inscription (writing) you can find on the coins and you might find one similar to yours. If you're in KL, you can always find all the Klang Valley dealers in Amcorp Mall or you can check their address in my Malaysia coin dealers list. Do remember though, old coins doesn't always mean that it has a high value. Most dealers most probably have a lot of coins like your in their stock.

PS: this tips only for normal & rare coins, if it is very rare, you can also send them to auction house. Will not discuss about it in here since it will make non collector confuse.