Should You Sell a Single Coin or Your Whole Set?
If you’re a coin collector looking to cash in on your collection, you might be wondering what the best way to do it is. Should you sell the entire collection to a coin broker or piece it off one by one? You might be surprised that the latter option is usually the better one.
Selling the entire set
Selling your entire coin collection in one fell swoop isn’t a bad idea. The problem is, not every buyer wants every coin you have. In fact, not every collector will pay for some of your coins—whether because they have them already or because they don’t think they can resell them. As a result, most times, collections will be broken up regardless.
That said, brokers like Mister Money Bags will gladly accept entire collections and pay you fair value for them if they contain a good mix of rare coins or have something unique, like a common key date.
Selling individual coins
The best reason to sell individual coins is to maximize the profitability of each coin. Many collectors are looking to complete their own sets and may only want three or four coins from yours to do it. Or, a coin broker may have customers looking for particular dates or coins they’ll be willing to buy at a premium, since they have a buyer already lined up.
There’s also a cost obstacle to selling a whole set that just isn’t there for the individual coin. For example, your set might appraise at $600, with $400 of that coming from just a few mint coins a buyer already has. They might want to break the set to keep their purchasing costs low, and thus might be willing to pay slightly more for individual coins. By doing this, they avoid the major costs of unneeded coinage.
Finally, condition plays a role. If you have six coins in a set and half are mint while the other half are tarnished, it might be in your best interest to break up the set. You’ll maximize the value of the mint coins without seeing it dragged down by the tarnished members of the set.
Thinking of selling your coins?
If you’re considering selling your coin collection, chat with Mister Money Bags first! We’ll take a look at your collection and appraise the coins within it. Then, we’ll be able to help you figure out if you should sell each coin individually or the collection as a whole. Contact us today or call now for a free appraisal!