Lawrence Frederick Diamond Gallery Rare Coins & Gold Buyers
612 Main St, Boonton, NJ 07005(973) 334-0900
Making Money Through Coin Dealers
Are you already a coin collector, or have recently inherited someone else's collection? Perhaps you've picked up a few coins over the years and would like to know what they're worth. No matter how you've come across coins, at some point you're going to want to sell them, whether because you need the money or because you think the market is right.
Coin dealers are professionals you see when you're ready to make a deal regarding coins. Not only will they buy coins from you, but they can also sell you new pieces for your collection. They all operate differently, especially if they're independent vs. part of a partnership. there is a lot of money to be made out of collectible coins, so expect some scam artists mixed in with the real professionals.
if you're looking to make money, then be sure to research the dealer first to make sure they're certified (where applicable) and have a good history. After that, it's as simple as calling them or going into their office to discuss your collection. You can take either the whole thing or a few select pieces. They will inspect them to make sure they're real, and then assign a grade that will determine how much they're worth.
From there you can sell your coins (some bartering may happen) or get a certificate saying that they were graded as thus. This is one of the safest ways to make sure you get what your coins are really worth. Selling online means you may undervalue your collection.
Coin dealers can also sell you coins for your collection. If you're looking for something specific, they can act as a middleman and help locate the coin you want for a finder's fee. They have great connections all over the world and are great contacts to have even if you're not buying or selling right now.