Posted on: 13 January 2015Share
If you want to sell your coins, especially gold and silver coins that can be melted down, then you should take them to a local coin buyer or gold buyer instead of using mail-in programs. There are many reasons why you should avoid mail-in programs because you'll get much more from local businesses.
Make More Money
Just because those mail-in programs are large doesn't mean that you'll get more money for your coins. In fact, you'll often get less. These mail-in companies spend tons of money on advertising to lure in customers. They also send you prepaid envelopes to send in your goods. They have to make back all this money somehow. They do it by paying you less. The only exception might be online coin buyers that ask for photos and information on your coins before making an offer and asking you to send them.
Don't Have to Wait
If you need quick cash and are selling your coins for that reason, then mail-in programs are the worst. You have to wait for the prepaid envelope, send in your coins, wait for appraisal, and then receive a check. Taking your coins to a local buyer means you get money that same day. The buyer will usually appraise the coins right in front of you and make an offer on the spot.
Haggle Thanks to Research
If you send your coins to a mail-in company, you have no say in how much your items are worth. What they offer is what you get. At a local shop, you can speak up about your goods and haggle for a better offer. Do plenty of research on your coins before going to the shop and wait for the buyer to make offers before speaking up with your knowledge. Some gold and silver coins are worth much more for their rarity than they are as scrap. If the buyer offers a low number, you can explain why your coins are worth much more and will likely earn some respect and a larger pile of cash.
Develop a Relationship
If you plan to collect coins and sell them on a regular basis as a side business, then going to a local business is the best option. You'll develop a relationship with the company. The better you know each other, the easier the transaction will go. You'll trust the company, having worked with them for so long, and they will trust you to only bring them the best goods.
Those old coins you've collected are worth much more when you step through the doors of a local shop, like Desert Jewelry Mart & Coins.