You are likely looking for the best place to sell your coins online because you finally answered the most important question any coin seller can ask – am I ready to part with this collectible?
Whether the coins are from your collection or an inherited one, parting with it is an emotional rollercoaster, and this article is here to ensure you get the best deal out of this stressful process.
Read on to know why you should go for Heritage Auctions as your top choice in making the top dollar on every coin you sell. You will also learn of the best places to sell your coins if you are in a hurry or want a slow & more involved process.
TLDR: The top 8 best places to sell your coins online include:
- Heritage Auctions – Top Overall – Low fees (10%), lots of customers, and a consignment program.
- eBay –- Choice to auction or sell. Low fees (<13%) and a wider range of customers.
- CoinsForSale.com – zero listing fees and 5% selling fee.
- Stack’s Bowers
- Goldberg Coins and Collectibles
- Great Collections
- ModernCoinMart (MCM)
- APMEX
Can Coins Be Sold For Money?
Yes, you can absolutely sell coins for money and make a huge profit at it. This is due to the lucrative business of the coin-collecting market.
According to an analysis by CDN Publishing Greysheet, the U.S. coin collection market was over $6 billion in 2022 and is projected to grow to over $17 billion in 2029. Also, according to the U.S. Mint reports, the United States has more than 125 million coin collectors buying and selling coins every year.
As you can tell, coin buying and selling is a great business and a fun way to make money. However, you may be concerned about violating some laws while doing this.
Well, do not fret; even though the United States has several rules against using U.S. currency coins, coin collecting (buying and selling) does not violate any of them. This is because no law regulates the sale of any U.S. currency.
These regulations are found in the 18 U.S. Code Chapter 17 under Coins and Currency. If you are dealing with U.S. coin replicas with advertisements or such, you may want to look at the dos and don’ts of those businesses.
Where Can I Sell My Old Coins
Different types of coins are sold differently. If your coins are bullion coins (gold or silver) or other less valuable coins sold for their melt value, then you should look into pawn shops, cash-for-gold stores, online metal buyers, and coin machines.
However, if your coins are collectibles, rare, and valuable U.S. currency coins, then you want to look at these places:
1. Local Coin Shops and Dealers
Coin dealers get their coins from somewhere, and that is often from other customers who are selling their precious coins. This is the most convenient for those close to one since you do not have to worry about the hassle of listing fees, selling charges, delays, and shipping costs, and you also get paid quickly.
The downside of local coin shops is that they often do not offer you the best prices. In fact, many coins sold in these shops go for lower prices than their retail costs.
The reason for that is that coin shops buy coins for cheap so they can make profits when they sell to customers who expect to buy the coins at retail prices.
Do not go for this option unless you have enough information about the coin or a good-standing relationship with the dealers.
Find the best and most reputable coin dealers in your area through the American Numismatic Association website or Numismatic Guaranty Company (NGC).
If you do not live near any coin dealers or just want to make the most money for your coin, you should consider the other options below.
2. Online Marketplace
Online marketplaces for coins include sites like – eBay and CoinForSale. CoinForSale is the only one solely dedicated to selling coins.
These sites have a huge number of customers, which makes it much easier to find a buyer. All you have to do is post your listing and wait for millions of customers to find your special coin collection.
The cons of sites like eBay are that you have to trust that the seller is not ripping you off and that the coin is genuine. They do not require sellers to authenticate the coin’s grade and legitimacy, so buyers must rely on the seller’s integrity.
Also, you won’t get the highest price in online marketplaces due to the lower level of authentication and trust.
3. Auction Houses
Auction houses are the best choice for high-value coins since they offer the highest possible prices you can ever get for the coin. They are also more convenient through the use of a consigning program. However, all of this comes at a higher cost of investment.
Auctions like Heritage Auctions, Stack’s Bowers, and Goldberg are trusted more by buying customers. This is because the auctions only sell professionally graded and verified coins, thereby ensuring the customers always get what is advertised.
To list your coin, you will have to pay for professional grading as well as some listing charges and buyer’s fees.
8 Best Places To Sell Coins Online
There are several places to sell coins online, but these are the best picks. Read on to learn how to sell coins online in each and every one of them, including the procedures, fees, and other features.
1. Heritage Auctions
Details:
- Selling Option: Consignment and Selling Directly
- Verified Coin Grade & Condition: Yes
- Listing Fees: No
- Selling Fees: 3% – 10%
If a rare coin sells for a serious amount of money in the millions, then there is a high chance it was sold through Heritage Auctions – the firm is known as the world’s largest collectibles auctioneer with an estimated 1.3 million registered users worldwide.
Of the top 20 selling coins of all time, 10 of them were sold at Heritage Auctions ranging from $2,990,000 to $7,200,000 each. Also, of the total value of $9 billion recorded by PCGS on all auctions, Heritage was responsible for more than half of it at $4.8 billion.
Heritage Auctions provides you with two programs: consignment or selling directly.
In consignment, you are instructed to ship the coins to the firm. They will grade the coins for you, put them on their auctions, and once they sell, you will be sent a cut after their consignment/sales fee of about 10% (varies 3% -10%).
Essentially, you will spend money before you make it. If you want a quicker sale, then you will have to sell directly.
When selling directly, you provide information about the coins, including pictures, condition, and grades, all done by you. They will then put up the coin’s details on their auctions. You will only ship the coin once a buyer has been found and the purchase has been arranged.
In both cases, payment is sent to you six to seven weeks after the auction ends.
Benefits of Heritage Auctions include their immediate cash advances (7-14 business days) on some direct selling items if stored in their Dallas offices. They also offer instant notifications to buyers on the coin’s progress and over 40-years of experience in the industry.
Pros
- Multiple selling options
- Lots of customers
- Reputable pricing with high profits
- Varying fee structure
- Low 10% consignment fee
- Highly reputable and 24.7 online support
Cons
- Long waiting period
- Profits are shared with the firm
- Shipping to Heritage is covered by the seller
2. eBay
Details:
- Selling Option: Auction and Sell
- Verified Coin Grade & Condition: No
- Listing Fees: $0-$0.35 per item
- Selling Fees: 9% – 15%
eBay has over 135 million users worldwide who have access to all the content on the site. The large customer platform offers a wide range of potential coin buyers, unlike any other coin-selling platform.
According to PCGS, eBay accounts for over $600 million of auction sales, making it the third most profitable coin-selling auction house after Stack’s Bowers.
eBay only charges listing and final value fees. The listing fee or Insertion fee, includes free first 250 listings per month, then $0.35 per listing afterwards. The final value fee is 15% if the sale value is $2,000 or less and 9% is over $2,000 (calculated per item).
However, unlike Heritage Auctions, you have the advantage of not sharing profits with anyone. You will get your money in full after the small fees, but you will have to handle the photographing of the coin, listing, shipping, and complaints from customers on your own.
There is the choice to auction or sell.
Pros
- The go-to for many collectors and a huge reach of potentially millions of customers
- You can sell at a set price or at an auction
- No investment in authentication & grading of coin
- Much quicker than auction houses
Cons
- Risks of scams
- Competition from other lowly priced coins and more competitive sponsorships
- High selling fee
3. CoinsForSale.com
Details:
- Selling Option: Sell Only
- Verified Coin Grade & Condition: No
- Listing Fees: No
- Selling Fees: 5 %
CoinForSale is a relatively new player in the market but has proved to be formidable. They are a fully coin-dedicated online marketplace similar to eBay but just for rare coins, gold, silver, and bullion. Also, unlike eBay, CoinForSale only allows for a set price; there are no auctions.
It is known for its great flat 5 % fee after the sale is complete, regardless of the selling price, much lower than any other popular coin-selling online platform is offering.
All you have to do is create an account with them in just a few minutes, verify your information, list your coin with images and descriptive details, wait for it to sell, and then cash out.
Pros
- 5% flat fee
- You can list as many coins as you want for free
- Easy setup and sell procedures
- It is easier to search through the catalog due to their coin specialty
Cons
- No auctions
- Risk of scams due to poor grading and authentication levels
- Smaller audience and relatively new to the business
4. Stack’s Bowers
Details:
- Selling Option: Consignment & Selling
- Verified Coin Grade & Condition: Yes
- Listing Fees: No
- Selling Fees: Varies with coin
Stack’s Bowers is the second leading auction firm according to PCGS, bringing over $1.2 billion in revenue with over 257 auctions on PCGS.
It is a well-established name in the coin collection world, with many of its items selling for millions of dollars. Eight of the top 20 best-selling auction coins of all time came from Stack’s, valued between $3 million and $10 million each.
Stack’s do not charge for photography, marketing, security, storage, listing, or insurance – this is handled by them fully. All you need to pay is a selling fee.
Follow these steps to sell your coin on Stack’s Bowers auctions:
- Send photographs of the coins to [email protected], call them at 949-253-0916, or through physical mail to their address. – 1550 Scenic Ave. #150, Costa Mesa, CA 92626. They will help you get an appraisal as well as all answers to questions you may have.
- A contract will then be sent to you with the agreed-upon terms if you acknowledge and then you sign it and send it back. You may also visit their location physically for this. The items will then be sent to auction and priced accordingly.
- The consignment will be photographed professionally and then marketed to all buyers of the auction.
- Once the coin has been sold, the company will then pay you 45 days after the sale.
Pros
- No extra fees, just a percentage of the selling price
- Free walk-in appraisals (Mon – Fri between 10 am and 5 pm)
- High auction prices
- Great for high-value coins
Cons
- Undisclosed selling fees that vary with items
- Long waiting periods
5. Goldberg Coins and Collectibles
Details:
- Selling Option: Consignment & Selling
- Verified Coin Grade & Condition: Yes
- Listing Fees: Varies per coin
- Selling Fees: Varies per coin
Goldberg Coins & Collectibles was established in 1930 and has so far risen to be one of the most competitive auction firms, with over $372 million in revenue, according to PCGS.
The company also has more than 90 auctions on PCGS.
The same auction procedures used in Stack’s Bowers are used here too. Check out their consignment form to see what you need to prepare yourself with.
Pros
- Low commissions
- Cash advances
- All merch is insured from the moment of shipping till you get paid
Cons
- Only collections over $50,000 receive immediate cash offers
- Select a few auctions in a year
6. Great Collections
Details:
- Selling Option: Consign & Selling
- Verified Coin Grade & Condition: Yes
- Listing Fees: 3% – 10%
- Selling Fees: 5% max
Great Collection is an auction firm but not as popular as Heritage Auctions or Stack’s Bower. It is estimated to bring in $55 million of the total value of PCGS and features an impressive 202 auctions on the site.
All coins that go through Great Collections have to be graded by PCGS, NGC, and ANACS to be included. Once you have gone through the consignment and appraisal procedures (Similar to Stack’s Bowers), you will get an estimate.
Once the coin has sold, the company will deduct a low seller’s fee of 0% on coins over $1,000 and 5% on coins $1,000 and below. The coin will then be sent to you in about seven weeks.
Pros
- Low selling fees
- Available instant cash advances
- Free coin appraisal
- No minimum consignment
Cons
- Send coin to auction before getting paid
- Long payment periods
7. ModernCoinMart (MCM)
Details:
- Selling Option: Sell
- Verified Coin Grade & Condition: No
- Listing Fees: No
- Selling Fees: No
With over 35 years of experience, MCM stands out as one of the most influential and reputable coin-buying and selling agencies in the world.
Selling rare coins on MCM is a straightforward process, but it typically involves reaching out to their buying department directly by phone rather than listing items for sale on their website.
Before contacting MCM, make sure you have detailed information about the rare coins you want to sell. This includes the coin’s type, denomination, date, condition (grading), and any unique features or history.
When you contact MCM, be prepared to provide detailed information about the coins you wish to sell. You may need to describe the coins, provide images, and answer questions about their condition.
They will then evaluate your coins based on the information you provide and their own expertise. They will make you an offer based on their assessment of the coins’ value, but you can negotiate the price for a better deal.
If you agree to the offered price, MCM will provide instructions on shipping your coins to them securely. Once MCM receives and verifies the coins, they will send you payment.
Pros
- A high guarantee that you will sell the coins
- No listing needed
- Negotiable prices
Cons
- You ship the coin before you are paid.
- $3,000 or less coins are paid in check – longer payment period
8. APMEX
Details:
- Selling Option: Sell
- Verified Coin Grade & Condition: Yes
- Listing Fees: NO
- Selling Fees: NO
With over 20 years of experience in the numismatic industry, APMEX offers a buying and selling online marketplace for gold, silver, and rare coins. In fact, they purchase their coins mostly from dealers and private individuals.
The upside to choosing APMEX is the fact that they do not charge for listings or selling fees. Also, the authentication and grading process is entirely in the hands of the company, leaving you hassle-free from the huddles of coin grading.
Start by shipping your coins to APMEX; once they have them, they will authenticate them and proceed to send you a payment in agreement with their market value.
In just a few days, you will receive payment.
Please take a look at their rare coins & currency categories. They also include information on best-selling coins and articles on what to look for in pocket change.
Pros
- Reputable business
- Quicker than other methods
- $60,000 if insurance from UPS
Cons
- You ship coins before getting paid
- Must have a coin collection with at least $1,000 value
Conclusion
So, what is the best way to sell your coins? The best choice will depend on the value of the coin and your needs. This will determine whether you choose to sell it at a local dealer shop, an online marketplace like eBay, or an authorized auctioneer.
For the most valuable coins, go with high-profit auctions like Heritage Auctions since these firms offer the best prices for any coin in the market. For the quickest sale on less valuable coins, go with eBay.
Finally, it is important to note that selling coins can take time. Do not get discouraged and lower your prices or remove the listing. You can pay to sponsor the ad so it reaches a wider audience or let it sit so that buyers can evaluate its price fluctuations.
All in all, if your coin is valuable & worth buying, then it will inevitably be bought at a lucrative price.
