If you want to sell your coins, the following FAQs may be of some help to you. However, to get the best price for your coins, coin values can really only be determined by establishing the condition – or grade – of your coin(s). There are several professional coin grading services that will grade your coins for a fee. Or, you can have the coin dealers at Midwest Mint appraise your coins for free! Here are instructions on how you can send your coins in for a free evaluation and a fair, professional offer if you want to sell them.
If you have a question not answered here, just e-mail it to us, or call our toll-free telephone number, 877-770-7040, Monday through Friday, during normal business hours (USA Central Time) and we will get back to you promptly.
Why should I sell my coins?
There is no better time to sell your coins! Many, if not most, numismatic coins are at an all-time-high, so you'll get the best prices for your coins now.
Why not sell them on ebay?
Selling your coins on ebay™ is always an option but there are a couple of things to consider. 1) It may take a few weeks to complete everything, especially if you are a new seller on ebay. 2) The more valuable your coin, the more likely a buyer will expect it to be professionally graded. That will take a week or two, and cost you money. (We'll give you a professional appraisal for free!) 3) You will pay a fee for selling it on ebay. 4) If you have a popular coin, you will be listed amongst dozens, if not hundreds of similar coins ... so you may have to take a lower price, or not sell the coin(s) at all. Having said that, we're big fans of ebay and their success is undeniable, but it may not be the best solution for you! We'll give you a free appraisal, and if we want the coin(s), make a prompt, professional offer.
What is the most important factor in the value of a coin?
The most important factor in the value of a coin depends upon what the coin is. For a newer coin, generally speaking, its condition will be a major factor. But if you are looking for older coins, then obviously the date of the coin is the determining factor, and the coin grade is less important. The major factors in determining coin value, in no order, are:
Condition – What kind of shape the coin is in; its grade.
Population – How rare is it? (How many made? How many accounted for?)
Age – How old is the coin? What date?
Demand – Do coin collectors or investors have a strong desire for the coin?
Intangibles – Similar to Demand, but may be personal; year of birth, etc.
Should I clean my coins to get a better price?
No! Repeat ... do NOT attempt to clean your coins. Even using a soft cloth can leave abrasions that a professional dealer will see, and it will reduce coin value. And never use commercial metal polish on coins. They are very abrasive and will scratch the surface of the coins! Being “dirty” will not affect coin values, but being scratched by any attempt to clean it definitely will.
What is the best way to store my coins so they keep their value?
You should store coins individually so they don't come in contact with each other. Accidental scratches, even if you can't see them with the naked eye, can dramatically reduce the value of coins. Use ANA-approved coin containers that should be available from a local coin dealer or online. And store your coins in a dry environment where the temperature remains fairly constant for long-term storage.
What kinds of coins does Rare Coins Buyer buy? Rare Coins Buyer at Midwest Mint (in Minneapolis, Minnesota) buys old & modern gold coins, old silver half-dollar & dollar coins, some proof sets, commemorative coins, old coins and coin collections. Some of the coins we buy are listed on our Website, but they are just a sample. If you have coins to sell that you think we would be interesting in buying, take a quick look around the Website to get an idea of what we buy. Of course, you can just call us and ask toll-free at 877-770-7040, during normal business hours.
If my coin collection is too big to send, do you travel to buy?
As we say in Minnesota, “Yew betcha!” If we have already discussed your coin collection and you are interested in selling it, we will travel to your location – at our expense – to make the deal. (Hint: We especially like buying collections in the southern states during the Winter months, if you catch our drift.)
What is the best way to pack the coins if I send them to you?
First and foremost, make sure they will not come in contact with each other during shipping. Wrap them individually in “bubble-pack” or other padded material. Keep in mind that boxes usually get tossed around a little in transit, so you need to make sure the coins are protected. Keep this thought in mind: We have had coins shipped to us that were damaged en route because of insufficient packing, and that lost over HALF of their value simply because of the way they were packed! Imagine the worst-case scenario and pack your coins accordingly.
There are advantages and disadvantages to having them graded first. Advantages:
We will be able to make an offer to buy your coins faster.
You will already be able to have some idea of their worth.
The coins will already be in protective containers for shipping or storage.
Disadvantages:
Up-front cost of the grading service; if you have a lot of rare/valuable coins, it adds up!
If you have no idea of the value of the coins, the grading fees may take too much out of what you expect to get.
Depending upon how long it takes for grading, it delays any offer we can make to buy ... if you're in a hurry.
Although not likely, the grading service may value the coin at a lower grade than we would have, which obviously would affect the offer we can make. This would be unusual though.
The more the coins travel, the greater the risk of loss (insure them!).
If I sell you coins, do you pass that info to other dealers?
We do not publicize nor reveal in any way the names, addresses or any other information about our clients to any third party for any reason. The only exception is if a law enforcement agency requires this information through proper legal channels and procedures. Please see our Privacy & Policy Statement.
We will add more FAQs as they come in, so make sure to come back and check this page. [Bookmark this page.] Or, e-mail us with any questions you have about selling your coins.
Get a free appraisal and grading of your coins from Midwest Mint. As experienced coin dealers, we can offer you top prices. Call 877-770-7040 for more information.
