3 Keys To Getting The Most From Your Coin Collection At Auction
Maybe you inherited them or perhaps you've picked them up and created your own collection. Either way, selling a coin collection at auction is a good way to get a good chunk of money from your collection. Take a look at a few tips to help you make sure you get the most money when you do sell your coin collection at auction.
Make sure your coin holders are nice and clear.
It is not uncommon for coins to be held in clear holders to prevent them from being in contact with human hands. If you have a coin collection that is in mostly clear holders, and those holders are not in that good of condition, it is best to invest in new ones before the set goes to auction. If buyers cannot get a good look at the coins because the holders are in bad shape, it will keep their bids at more conservative levels. New coin holders are cheap, but they could seriously increase how much your collection is able to fetch at auction.
Get to know your reserve price.
One of the first things you will be asked when you take your coins to sell at auction is if you want a reserve price set. A reserve price is the least amount you will take for your coin collection, so it is usually where the auction will start. You have to be really careful here. You should know the market value of the coins you have in general, but you can't really set your reserve exactly at market value and expect buyers to be interested. Most people will be looking to buy these coins so they can make a profit, so if your reserve is too high, it can scare bidders away. It is much more likely to see those bids climb when the auction starts at a lower reserve price.
Pick and choose which coins should be sold in groups.
In some cases, you can get more money for coins that are sold in pairs or groups than what you can individuals, and vice versa. For instance, if you have two rare copper pennies from the 1940s, selling these babies as a set is probably going to yield you more than selling them as singles. These things are incredibly rare, and worth about $10,000 each, so having two of them together is going to up the ante for bidders who will jump at the chance to get two of them.