Collecting coins can be fun and can be a great investment that is almost always sure to have value, but there comes a time where you may want to sell those coins… and one of the easiest ways to do this is to sell them online for cash.
Maybe you have a Liberty Nickel, a Flowing Hair Dollars from the 1700s, a Roman coin from the fourth century BC, or maybe you don't even know you have and you just want to make some money.
Whatever the case, we are here to help. Below you can find out 4 easy ways to sell coins for cash online, all for free.
The Only Way to Sell Coins Online for Cash..
The only way that you can actually receive cash for selling coins online is by selling locally online… And what I mean by this is advertising the coins online and arranging an in-person meet up for the actual financial transaction. While this may not be a fully online way of selling coins, it is the only way that it can be done in order to get cash in your pocket.
The upside here is that it involves no shipping. You will not have to worry about a very expensive coin, or collection of coins, getting lost in the mail and never reaching the buyer. The buyer will be able to pick up his/her purchase in-person and pay directly. However, the downside is that the market is much more limited, since you are only reaching an audience of local buyers.
Below we will go over for ways in which you can get cash for your coins, followed by additional ways where you can completely sell your coins online and get paid.
4 ways to sell locally online for cold hard cash
#1) Craigslist - Everyone knows Craigslist. You can find just about anything on this classified ads site, including coins. This site is easy to use and allows you to provide a very detailed description of what you are selling as well as include a variety of different images to really market your item(s) as best possible.
If you are not already using Craigslist then we highly suggest it. It is free, easy, and a lot of people use the site when looking to buy collectibles such as coins.
#2) ClassifiedAds.com - This is obviously another classified ads website, but is even more basic than Craigslist. Here you can provide a short description, image, price and a contact number.
It is worth a try because it will only take a few minutes to get your coins listed, and it is free, but Craigslist is probably still a better choice between the two.
#3) Facebook Marketplace - Everyone is familiar with Facebook and on the Facebook marketplace you can find everything from cars to coins. If you have a Facebook account already then this is definitely worth using. Many people have had great success selling locally here.
A word of advice: Your Facebook account should have a profile picture at a bare minimum. People aren't as willing to interact with the sellers that look like complete ghosts.
#4) Ebay - Most people don't really see as a way to sell things locally… When you think of eBay you might only think of the online auction where you can sell things to anyone, anywhere in the world and then ship the products off to them. However, with eBay you can also choose to sell locally.
When selling locally you can arrange a cash payment with your buyer, just as you would any of the other sites mentioned above.
Tip - To be safe, I'd suggest meeting in a public place, like a Starbucks for example. There are also some police stations (in the US anyhow) that have areas where people can safely meet to complete online transactions.
Other Options for Selling..
When it comes to selling coins online your options are far from over.
The definition for cash is "money in coins or notes, as distinct from checks, money orders, or credit."
While the 4 ways discussed above may be some of the only good ways to get actual cash for your coins, you can also easily sell coins online and get paid via PayPal, direct deposit, by check, and other means… Which are all convenient and great ways to get paid.
Ever considered online auctions?
#5) eBay - Yes Ebay again.. When you sell online through eBay (not locally) you can choose to get paid via PayPal, which you can then transfer to your bank account or do whatever you want with it.
That said, when you are completing the entire transaction online, including the payment, you will be charged a 9% fee (with a max of $50), which is why some people don't recommend using this online auction place. If you sell with a fixed price the fees will differ.
But if you are selling coins that are extremely valuable then a $50 fee might be nothing to worry about.
#6) Mercari - This place is the same sort of deal as eBay but I would only recommend it for coins that are on the cheaper side due to the 10% fee they charge, which I don't think has a limit.
One thing that you have to take into consideration when it comes to selling on places like this is the "trust factor". If you are a new seller, you might not get that many people bidding on your items due to lack of good feedback from past buyers.
#7) Heritage Auctions - If you only want to deal with the most trustworthy and reputable auction places in the business, then this is definitely one to consider. They are the largest collectibles auctioneer out there and the third largest auction house in the world.
Not only does Heritage Auctions hold physical auctions, but they also have online auctions similar to those talked about above... Except these auctions are more strict and only allow proven good quality coins.
We are unsure of how high the fees are here.
#8) Catawiki - Here is another place that is comparable to that listed above. This online auction place has a team of coin experts that ensure all of the coins being listed are of high quality. After listing an item, the experts will review it before it is approved. And, your coin(s) must be worth at least €75 in order to be sold here.
The downside… They take a 12.5% commission fee from the sale price.
#9) GreatCollections - Now if you are looking for low fees, which I am assuming you are, then this is worth a look. They offer a very professional marketplace and provide discounts on professional grading services, which are necessary if you are selling very valuable coins.
Fees are as low as 0% if your coin goes for over $1000 and 5% if your coin is under $1000.
And don't count out online dealers..
You may also find that it can be well worth it to sell directly to a dealer, rather than dealing with auctions and individual bidders. Some places that you can do this at include…
#10) Heritage Auctions - At Heritage Auctions you can also sell directly to them, rather than sell to the highest bidder with their auction marketplace as was talked about above.
They buy all types of coins and provide a very professional service. Yes, they are looking to make a profit when you sell to them as everyone does, but they likely won't rip you off.
If you live near any of their offices you can also go directly to them to make the transaction, otherwise you can handle the whole process online and ship your coins to them via mail.
#11) Photo Coin Offers - Here is another buyer that you can sell to directly and receive payment via PayPal or a check in the mail. They make the process of selling extremely easy. All you have to do is text or email them pictures of your old coins and wait to get an offer… Then send them in and get paid.
However, they are quite as professional and if you are really looking to get the most out of your coins, they might not be the best choice. This place is best for a quick sale.
And as a last resort.. you could sell them as scrap
Something that I would not recommend very often, but which still should be mentioned, is selling your coins for scrap. This would only be a rational choice if your coins are not all that rare in the first place, or not in good condition whatsoever, and of course do have value in the metal they are made from.
#12) Provident Metals - Provident Metals is one of many places that you can send your coins to in order to receive payment for their metal's worth. They accept gold, silver, platinum or palladium coins, jewelry, etc.
Payments are made via ACH, check, or wire transfer.
Tips to Make as Much Money as Possible
Make your description accurate and detailed
When you are selling online, especially in an auction type atmosphere with individual buyers, you are going to want to include a very detailed and accurate description of your coins. Not only do buyers want to know everything about what they are buying, but including a good description also shows that you are knowledgeable about the coins and will increase the amount of trust that potential buyers have in you.
Good pictures are very important
A picture is worth 1000 words, and when it comes to selling valuable coins online, it might be better stated that they are worth more than 1000 words. Buyers want to be able to see every little detail... signs of age, craftsmanship, etc.
If you are selling completely online then pictures are definitely a necessity, but even if you are selling locally (advertising online and selling in-person), pictures still will definitely give you an edge when it comes to making sales.
Don't clean them!
If you have knowledge about valuable coins, in particular those that are old, then you probably know not to clean them. However, if you are new to it all then it may seem like a good idea to clean that ancient Roman coin… But this is a big no-no.
Cleaning or polishing an old coin can significantly decrease its value.
A third party authentication and grading might be worth it
It it is highly suggested to use an authentication and grading service if your coins are rather valuable.
You can use a service like ANACS, which has been around since 1972 and is well trusted, as well as others like PCGS and NGC.
These services will certify your coins so that buyers know what they are getting is authentic, which can make a massive difference depending on the particular coins in question.
Insure your shipments!
If you are going to be selling your coins online and shipping them via mail, it should go without saying that they need to be insured. Well... you can make the call on this, but many times this should be seen as a necessity. The last thing you want to happen is to lose a coin in the mail and receive $0 for it.
Selling Offline Might Be Worth a Look as Well
When it comes to selling valuable coins there are so many options that you have at hand. Even in the off-line world there are numerous different directions you could take, which might be worth taking a look at.
Pawnshops and Cash for Gold (and the like) shops or all over the place. At many of these places you will be able to make quick and easy transactions. However, we strongly suggest that you do your research and know the true underlying value of what you're selling before you sell it at such places, as many might try to pull a fast one over on you and really rip you off.