Selling coins online: making money on selling money
Do you sell coins online, or are you thinking about it? Is this a new business venture, — an extension of your
Can you sell coins online?
Major auction firms report growing sales of rare U.S. coins and dozens of record prices, even ranging into seven figures. According to the Professional Numismatists Guild (PNG) information, the coin market is very healthy.
So if you have coin selling on the brain, there’s no better time to try it. And one of the best ways to find buyers is to sell your coins online. This opens your coin collection up to a larger audience, and gives you the potential to close deals faster. It also ensures that if you have rare coins, they go for a fair market price.
Selling coins online is easy, nowadays. You can use public auction platforms, knock on certified online dealer’s doors, or launch your own online store and sell coins everywhere.
What coins are in high demand?
What coins are worth a lot of money?
Flowing Hair dollar is the most expensive coin ever sold. It’s worth $10,016,875. Brasher Doubloon ($7,400,000) and 1933 double eagle ($7,370,000) are the runner up and the third place, respectively.
It’s interesting to note that these coins are not particularly ancient. Most of the treasures sold at these auctions for top dollar weren’t minted in the era of Homer, but rather from the 16th to 20th centuries. However, the top 100 chart of the most valuable coins ever sold (or bought) does show some showstopping dinosaurs, like Decadrachm, dated 409/6 BC, sold for $2,918,000 in October 2012.
Unfortunately, these coins weren’t found in someone’s pocket. But that doesn’t mean coin selling is only for museums. If you want to be profitable in selling coins online, focus on rare U.S. dimes, pennies, and quarters. They are easier to find and sell.
Where can I get my coins appraised?
How can I sell my coins?
The best places to sell coins online
eBay. It’s become an unofficial coin marketplace for thousands of sellers from around the world. Its auction and “Buy Now” features perfectly match the coin seller’s needs for
Amazon. The Collectible Coins section is an excellent alternative to eBay. The good thing is that it’s become a home not only for private sellers but for primary dealers. Amazon has the largest audience of customers in the world. Do you need another reason to start selling coins on Amazon?
Internet Auctions. Usually sponsored by leading
Some big platforms to start with: Goldberg Coins, Heritage Auction Galleries, USA Coin Book, David Lawrence.
Your website. The platforms listed above can make great primary distribution channels, as they have a
Selling the coins to a dealer
Doing
Pros of selling coins to a dealer
- It’s fast to find one. Just open Coin World or Numismatic News and pick the one you like. Some of the dealers have been advertising in these magazines for decades.
- It’s fast to sell. Online dealers take almost everything that can be sold, whether it’s a single coin or a box of them.
Cons of selling coins to a dealer
- Low profit for you. Dealers are focused on maximizing their profits. Knowing that they will do most of the searching and selling work for you, they will keep
30-40 percent of the retail price for themselves. - Reputation lottery. While most of the dealers are
life-timers in the industry, there’s still a chance of coming across an unreputable company. Check out each potential dealer at the American Numismatic Association or the Professional Numismatist Guild databases.
Selling coins online: best practices checklist
Let’s recap all we’ve learned so far about selling coins online with this handy checklist:
- Focus on American (U.S.) rare coins. They are the highest demand coins on the market.
- Appraise your coins. This is so buyers will trust you, and pay the highest price.
- Get a PayPal account. An important tool to ensure smooth payments.
- Get listed on the market. Try out eBay, Amazon, and public auctions.
- Make your website. Create a home for your fans and sell without commissions.
- Invest in good photos.
High-quality images will help your buyers to examine your treasures without having to sellin-person. - Write good descriptions. This will generate site traffic and persuade collectors to buy from you instead of your competitors.
- Offer free shipping. One of the best purchase drivers out there. Think about adding the cost of shipping to the coin price and offering to ship for free.
- Be patient. Selling treasures and rarities takes time because buyers need time to make decisions. Coins sales are not made lightly, so budget in a little extra decision making time.
Sell coins online using Ecwid E-commerce
Selling coins online with Ecwid is free. Our
With Ecwid, your online coin shop will be smoothly integrated into your existing or new website. You will also be able to customize your store’s look and functionality, manage all of your shipping and payment options, connect with customers via social media, and lots more.
Sell simultaneously
Ecwid stores look great on any device — phones, laptops, tablets, smart TVs, or smart watches.
Add an online store to Facebook, Instagram, Tumblr, or any other social media site.
Sell globally with
Set up an Ecwid coin store on any platform
Whether you're selling coins as a new business venture, an extension of your
Ecwid doesn’t tie you to any one platform. It’s an
Enterprise level speed and security
Ecwid is a PCI DSS Level 1 Certified Service Provider, ensuring all payment and transaction data is secure. With Ecwid, security updates happen automatically. You don’t have to worry about that.
With the help of Ecwid's
Mobile commerce 360 for buyers and sellers
The Ecwid Store Management mobile app is a convenient, fast, reliable, and secure business tool that allows you to fulfill orders, add products, manage inventory, and accept payments
All distribution channels in one place
Facebook, Instagram, Amazon, Google Shopping, Snapchat, Pinterest, eBay, and POS — Ecwid helps you show off your products across the internet.
Everything you need to sell coins online
When you sell coins online with Ecwid, you'll be able to select from
You also will be able to set up your preferred shipping methods to ensure that your coins get to your customers safely and
To help you expand your business to international coin collectors, Ecwid offers over 45 automatic language translations for your storefront, so no matter where your customers are, they'll be able to shop from your store.
Connecting with potential buyers is incredibly important when you sell coins online, and Ecwid makes it easy for you to develop a loyal following and gain repeat customers. With Ecwid, you'll be able to track customer data to offer special deals and coupons.
Ecwid also includes social sharing buttons so your customers can share their favorite coins and recent purchases with their friends and followers on Twitter, Pinterest, and Facebook.
Use Facebook to sell coins online with Ecwid
Setting up an online coin store through Facebook enables you to capture millions of potential customers’ attention. Ecwid retailers who have a Facebook store drive nearly 15% of their total online sales through that social network alone. Facebook also offers a
Setting up a Facebook store requires just a few steps
- Sign Up today to begin building your online store.
- Add products to your store.
- Connect the Facebook app using your Ecwid control panel.
- Edit your Facebook settings to enable sales on your page.
- In less than 5 minutes, you’re ready to sell coins online with your new Facebook store.
Why Ecwid is the best place to sell coins online
With Ecwid online coin store, you'll watch your business grow in ways you never thought possible.
Ecwid provides an
Become an Ecwid merchant today and start selling from a single website! Sign up to build a free online store with Ecwid. Or, add Ecwid's shopping cart