These days, you can find anything on the internet to buy and sell, thanks to the rise in eCommerce. The online marketplace has become increasingly popular in the past few years for selling rare and collectible items, such as coins. Before, you had to go to physical stores, exhibitions, and collectors to find rare coins, but now, it is easier than ever to find them online.
But there’s a catch.
To sell coins online, you need to find reliable places that have the right audience who are looking for collectible items like this, as well as adopt trusted, safe, and secure ways to sell them. Don’t worry; we have got you covered. In this blog, we will cover some of the best ways to sell coins online like a pro in 2024.
Why Should You Sell Coins Online?
Source: Canva
If you didn't already know, selling coins online comes with tons of advantages. This is due to the increasing demand for old and collectible coins with the evolution of online marketplaces.
Coin collection is a hobby for some, and for art and collectible enthusiasts, it's their passion. Maybe that's why the coin collection market, which was evaluated at $8.8 billion in 2022, is expected to reach $17.3 billion by 2029. That's impressive growth, and if you wish to sell coins online, be it gold, silver, or bronze, this is the right time to do so.
Selling coins online comes with many more benefits, including:
Wider Audience
When you sell coins in a physical store, your customers are limited by geographical location unless you have online sales, too. Selling old coins online gives you the opportunity to reach a broader audience, possibly from all across the globe.
Convenience
The best reason for running an online business or selling coins online is the convenience it offers to both sellers and buyers. There are no opening or closing hours for sellers, and they can sell their coins online at any time without any hassle, as it is mostly automated.
Competitive Pricing
One of the best reasons for buying and selling coins online is the competitive pricing dynamics that mostly benefit buyers but are highly opportunistic to sellers, too. Sellers can easily compare prices across different platforms and adjust their pricing strategy to remain competitive.
Reduced Overhead
Compared to traditional brick-and-mortar stores, selling old coins online typically involves lower overhead costs. You eliminate expenses associated with maintaining physical storefronts, such as rent, utilities, and staffing.
What Coins Are in Demand?
Now, we are coming to the most important question: What coins are in demand? Here's your answer.
There are plenty of coins you can go for, and that's one of the positives of selling coins online. You can go for:
Rare and Historic Coins
Source: Gerrads Bullion
Coins with limited mintage, historical significance, or unique features are highly sought after by collectors. Examples include ancient coins, medieval coins, and coins from significant historical periods or events. These coins are usually sold at high prices online primarily because they are considered art more than just plain coins.
Certain coins from 380–325 B.C. are sold for $800 and above on sites like govmint.com. You can also find coins from the 1700s for $200 and upwards, highlighting the demand and cost for such genuine coins.
Bullion Coins
Source: usmint.gov
Bullion coins are made from precious metals such as gold, silver coins, platinum, and palladium and are popular among investors seeking tangible assets for wealth preservation and portfolio diversification. They are often valued based on their metal content and purity. Do remember that it is not very common to find bullion coins at every online coin-selling marketplace.
Depending on the purity, content, and condition, you can sell gold bullion from as low as $25 going up to thousands of dollars (source: JM Bullion).
Error Coins
Source: The Spruce Crafts
Coins with minting errors or anomalies are prized by collectors for their rarity and uniqueness. These errors can range from striking defects and misprints to off-center strikes and double strikes due to the deterioration of the minting equipment. They are sold online for thousands of dollars, some going for more than $25,000 for a single coin (source: coinsnews.net)
Commemorative Coins
Source: Modern Coin Mart
They are special edition coins issued to commemorate historical events, anniversaries, or influential figures that attract collectors interested in preserving history and commemorating significant milestones. Commemorative coins often feature intricate designs and limited mintage, making them highly desirable among enthusiasts.
You can find them on reputed commemorative coin programs and sites online, being sold for various prices ranging from $5 to several hundred dollars.
Read more: Sell Collectible Items On Shopify In 7 Easy Steps
Limited Edition Sets
Source: usmint.gov
Coins included in limited edition sets or collections, such as proof sets, mint sets, and anniversary sets, are in demand among collectors looking to complete their sets or acquire exclusive pieces. Limited edition sets often feature unique packaging, certificates of authenticity, and special finishes, adding to their collectible value. You can find them at various price ranges online.
How to Get Your Coins Appraised?
Source: PCGS
It is important to get your coins appraised before selling them online.
To get your coins appraised, you can check out professional appraisal services online like PCGS or ValuePros, other coin grading companies, or even do-it-yourself research. Professional appraisal services will offer comprehensive evaluations by certified experts, providing you with more insights into the value and authenticity of your coins. Coin grading companies also work in a similar manner and assess the condition and authenticity of your coins, enhancing their marketability.
If you are planning to do it by yourself, you would need to conduct thorough research through numerical resources and price guides. if you are a beginner, we recommend going through a professional as it saves a lot of time.
How to Sell Old Coins Online?
Selling coins online can be a profitable venture if you are able to reach the right target audience, including collectors and investors from across the globe.
To successfully sell old coins online, follow these key steps:
- Choosing the Right Platform: Research and select an online marketplace or platform that caters directly to coin collectors and enthusiasts.
- Taking High-Quality Photos: Capture clear, detailed images of your coins from multiple angles using proper lighting and a high-resolution camera. They are essential for showcasing the condition and features of your coins accurately. For instance, check out this images by coinappraiser.com. They are clear, crisp, and helps you analyze even the minute details. If you are selling old and rare coins, try to show them in their original condition, without much editing or color added. This way, the customers can get a real look of the product online.
Source: Coinappraiser
- Write clear and relevant descriptions: Provide thorough and accurate descriptions for each coin, including relevant details such as mint year, denomination, composition, and any notable characteristics or historical significance.
Source: usmint.gov
The catalog of usmint.gov is the perfect example for this one. The description is accurate and informational, and provides all the necessary details a collector would want to know. Plus, the images are of high quality, making it all the more presentable and reliable.
- Setting the Right Price: Research recent sales data and market trends to determine a competitive yet fair price for your coins. Consider factors such as rarity, condition, and demand when pricing your listings to attract buyers while maximizing profit.
- Safe Shipping and Payment: No matter what platform you choose for selling your coins online, ensure you implement secure shipping methods to protect your coins during transit, including integrations with popular courier services and packing details such as padded envelopes or protective packaging.
Try and offer payment options that are mostly commonly used by people, such as PayPal, to avoid any cart abandonment from potential customers.
Quick read: How To Sell Chocolate Online With These 6 Marketing Ideas
7 Best Places to Sell Coins Online in 2024
In 2024, the online marketplace offers a plethora of platforms for selling coins, each with its own set of advantages and considerations. Here are the seven best places to sell coins online, along with a breakdown of the steps to sell on each platform, their pros and cons, and the necessary apps or tools for success:
Shopify
With over 4.4 million live websites (source: Builtwith), Shopify is a popular eCommerce platform that allows users to create customizable online stores. You can start a store with Shopify and sell online by:
- Sign up for a Shopify account and set up your online store.
- Customize your store's design and layout with Shopify Themes and page builders.
- Add product listings for each coin, including high-quality photos and detailed descriptions.
- Set up payment processing and shipping options.
- Launch your store and use Shopify's marketing tools and features to promote your store and attract customers.
Pros:
- Fully customizable online store with a range of design options.
- Integrated payment processing and shipping solutions for convenience.
- Access to Shopify's app store for additional features and functionality.
- You can outsource developers and Shopify experts for your coin store.
Cons:
- Requires a monthly subscription fee.
- May require technical expertise to set up and manage initially.
Banknote Coin Stamp is a Shopify store that sells rare and vintage coins and bank notes from over 100 countries across all six continents. You can even find pre-war British-India banknotes, gold coins, to vintage US post stamps, BCS has them all. So, if you want to create a website like this and start selling coins online, you can do so easily with Shopify.
Amazon
Amazon is the largest B2C online marketplace globally, with over 2 billion monthly visitors (source: Jungle Scout). Here's how to sell coins on Amazon:
- Create a seller account on Amazon and choose the appropriate selling plan (individual or professional).
- List your coins for sale on Amazon's marketplace, ensuring accurate product descriptions and competitive pricing.
- Optimize your listings with relevant keywords and high-quality images to improve visibility.
- Fulfill orders using Amazon's fulfillment services (Fulfillment by Amazon) or handle shipping independently.
- Utilize Amazon's advertising tools, such as PPC, to boost sales and attract customers.
Pros:
- Access to a massive customer base.
- Amazon FBA is a no-fuss, no inventory, and hassle-free process in place.
Cons:
- Fees associated with selling on Amazon, including referral fees and fulfillment fees.
- Competition from other sellers on the platform.
- Strict guidelines and policies for product listings and customer interactions.
eBay
You probably have already used eBay, as it is one of the leading online auction and shopping platforms. Selling coins on eBay involves the following steps:
- Create a seller account on eBay and familiarize yourself with the platform's selling policies and guidelines.
- List your coins for sale as fixed-price listings or auction house-style listings, with detailed descriptions and clear photos.
- Monitor listings and engage with potential buyers through eBay's messaging system.
- Handle shipping and fulfillment independently or utilize eBay's shipping services for convenience.
Pros:
- Global reach and large customer base of coin collectors and enthusiasts.
- Flexible listing options.
- eBay's promotional tools and marketing features.
Cons:
- Fees associated with selling on eBay, including insertion fees, final value fees, and PayPal fees.
- Risk of fraudulent buyers or non-payment.
Etsy
Etsy is a well-known online marketplace specializing in handmade, vintage, and unique goods, making it an ideal platform for selling artisanal coins and collectibles. Here's how to sell rare coins on Etsy:
- Create a seller account on Etsy and set up your shop, including branding and shop policies.
- List your coins for sale with detailed descriptions, clear photos, and relevant tags and categories.
- Engage with customers through Etsy's messaging system and provide excellent customer service.
Pros:
- Niche audience of artisanal and vintage enthusiasts interested in unique coins and collectibles.
- Flexible listing options and customization features.
- Supportive community and resources for sellers on the platform.
Cons:
- Fees associated with selling on Etsy, including listing fees, transaction fees, and payment processing fees.
- Competition from other sellers within the handmade and vintage niche.
- Limited reach compared to more significant marketplaces like Amazon or eBay.
Cash for Coins
Cash for Coins is a safe and secure website that lets you sell your coins, gold, and even bullion for fair market cash prices based on the current value. It's relatively cheaper to sell with them as they don't have any costs compared to other retail platforms. Here's how you can sell with them:
- Visit the Cash for Coins website and select the type of coin you are selling.
- Then, enter the quantity and the condition of each coin you have.
- Enter your email address and zip code
- Once the instant cash offer is generated, review it.
- Accept or decline the offer.
- Access the dealer directory for free. to browse local dealers and buyers in your area.
Pros:
- Straightforward and hassle-free selling process.
- Competitive offers are based on market value and condition.
- Secure and insured shipping for peace of mind.
Cons:
- Limited to specific types of coins and conditions.
- May receive lower offers compared to retail prices.
APMEX
APMEX is a popular online retailer of precious metals that deals in buying and selling gold, silver, platinum, palladium, etc. They also deal in coin values, storage, returns, exchanges, etc. To start selling with APMEX, here's what you need to do:
- Go to the APMEX website and click on "Sell to Us."
- You can request a quote online or call them at (800) 514-6318.
- Depending on whether you like the offer or not, you can start selling old coins with them.
Pros:
- Established and reputable precious metals dealer.
- Expert authentication and verification services for coins.
- Competitive pricing and transparent selling process.
- Dedicated customer support and resources for sellers.
Cons:
- Potential for market fluctuations affecting pricing.
Social Media Groups
Did you know that you can sell coins on social media, too? You might be able to find collectors' communities and groups on Facebook, Instagram, or other similar platforms. You can even explore the Facebook marketplace, TikTok, etc.
- Just remember to find the most relevant social media groups and communities focused on coin collecting, numismatics, or antiques.
- Join groups and engage with members by sharing knowledge, participating in discussions, and providing valuable insights.
Key Takeaway
Selling coins online comes with tons of opportunities for coin collectors and enthusiasts. But, like selling any product online, it comes with its own risks and advantages. So, don't forget to do your own research and take the necessary measures to protect your personal and financial information. Remember, the world is your oyster, so go out there and sell your certified coins for investment purposes and run a successful business.
Explore more, check out: How To Sell Antiques Online With Shopify
