By Vikki Wilkinson on Mar 26, 2021 1:37:51 PM
Coin auctions are fascinating. There’s incredible amounts of history within these; many collectors spend years, decades even, compiling a cherished collection and an auction can be an exciting place to stumble across some of these rare gems.
Whether you’re a passionate collector, or have perhaps inherited a collection, there may come a time when you might want to sell one or more of your coins.
Here’s my ultimate coin auction checklist to make sure you’ve covered all avenues and can confidently strut your stuff and sell successfully online at auction:
- Get an expert valuation. Similar to jewellery, this bit's vital. Whether you’ve collected for years or you’ve not got a clue where to start, let the experts do the work. This’ll help you set a viable reserve and be confident to stick with it.
- Decide if you really want to sell. Coins hold a lot of history and, depending on where you’ve come across it, make sure you don’t have any regrets in selling. Every coin has a story, history or memory which can, for some people, make them priceless. Don’t be pressured as once it’s gone at auction, it’s gone!
- Before it goes on sale, don’t be tempted to clean your coins. Surprisingly, this can actually reduce a coins value so its best to seek advice and consult a numismatic expert.
- Set a reserve. Ensuring your coin (or any item at auction) isn’t undersold is down to the sellers reserve. Use your valuation and/or research of your own to inform this and make sure you’re 100% happy.
- Market & sell! This is probably the most important part of the auction process and it’s down to you. Pictures and description are what sells your coin; add in more than one image of different angles and give as much information on the coin as you can. Buyers like detail.
- Depending on how many coins you are selling, make sure to have relevant insurance cover with your chosen courier service.
- Make sure payment details are correct. The all important detail at the end… treble check these! Once a lot has been won and the auction finishes (which can be a month or more), delivery details are confirmed and payment is made quite quickly. Any errors will hold up the process which can put the customer off buying from you in the future.
- If in doubt, ask. Even if you’ve already had an experts opinion, there might still be something you need clarifying and don’t be afraid to speak to others to get a balanced view. Our team love coins as well as the stories and history that comes with each one.
Need more guidance? Get in touch. Remember, never sell antiques or collectables without expert advice!
Take a look at our current coins in auction.