Many readers ask me, how to submit coin collection for auction? an auction house most of the time is the best place to get the best price for your collection. Your coin can reach many qualified buyers if the auction house have a good reputation and have been in the business for a very long time.
However, before you send your coins to any auction house, I suggest you make your own homework. Especially if you are not a coin collector.
1. Make sure your coins are rare and valuable.
Do your own research, read some book or article online about your coins. You can always try to Google about your coins but make sure that the websites or blogs that you read, focusing on coin collection. They're many websites or blogs that give wrong information about coins. For a list of Malaysia rare and valuable coins, you can read my article: Malaysia rare coins.
2. Do your coins have high grade?
If you're not a coin collector, you may not understand how to do coin grading. You can learn a little bit about it in my article: Coin picture grading for newbies. If you want to get a high price for your coins, Uncirculated coins are the best but make sure you don't try to cleaned your coins. Cleaned coin will have less value then original toned coins.
3. Consider to send your coins for grading
If you have rare coins with high grade, consider having your coins graded before the auction. Graded coins can guarantee the authenticity of your coins and the price offered would be better if your coin have high grade. After you do your research about how rare is your coin and if your coin can get a high grade, please consider to send your coin for grading. You can ask coin dealer near you area if they have grading service available (You can find coin dealer list here: Malaysia Coin Dealers List). Just make sure you send your coin to PCGS or NGC, I do not recommend that you send it to the local grading services.
Malaysia Numismatic Society (MNS)
If you want to send your coins to MNS for auction, you need to be their member. They usually run their auction 4 times a year and you need to send your coins a month early from the auction date. If you want to be their member, you can visit their Auction No. 163 that will be held at Jabatan Muzium, Muzium Negara, Jalan Petalawati, Kuala Lumpur on 22 March 2015. Come early (8.30am) and tell them you want to be a member, after you have signed up as a member, you may ask with whom you have to talk if you want to send your coin for auction.
Other Auction House
Auction house that has a website usually displays information about their contact person. You can look for "Contact Us" section on their web and start asking them via email or phone about sending your coins for auction. However, it is not as easy as you think. Not all coins will be accepted by them for auction and most of the auction house charge at least 15% seller commission and you will only get paid 45 days after the sale. Normally, you are not required to pay any money before the auction as all charges are deducted from the final settlement.
