Selling Coins to Dealers

by | Jan 15, 2018 | Shopping

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Collecting coins can be very fulfilling. For most collectors, it is a hobby or activity done during their spare time, but for others. it can become more time consuming.

While many collectors do just that, collect, others often buy and sell coins with dealers. Finding the right dealer can be hard to do. Many collectors search for dealers at expos or coin shows, while others use references from friends and other coin collectors.

Once you find a dealer that can be trusted the next step is determine how you will sell coins in Chicago by determining what the value of the coins are in order to guarantee you receive the best value for them.


Several factors are involved when valuing your coins. One is scarcity of the coin or how rare it is. Coins are not rare just because they are old. Rare coins are determined by the number of the same coins being minted and the number of them still available today.


Of course, condition of the coin is important. A coin might be rare but if corroded, bent, or cut, it does not have the value other rare coins of the same origin have. The Sheldon Scale is often used by dealers and collectors to determine the condition of a coin.

Content of Precious Metal

Gold, as well as silver coins, sell for more than melt value unless they are in extremely poor condition. Gold and silver coins have appreciated considerably over the last few years. Of course, the more precious metal content the more expensive the coin is. Make sure the content is determined by a qualified jeweler before trying to sell the coin.

Supply and Demand

If a coin has a high demand by collectors, it has more value even if it is common. If coins are rare but are not collected by many collectors they do not have the same value as a coin that is more popular yet rare.

Always remember prior to selling a coin make sure you know its true value and the least amount you are willing to accept before parting with it.

If you are looking to sell coins in Chicago, please visit Chicago Gold Gallery or