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by philip964
Mon Feb 14, 2011 1:03 am
Forum: Off-Topic
Topic: Coin collectors here?
Replies: 3
Views: 1283

Re: Coin collectors here?

Coin stores are in the business to make money. They buy from the public at a discount and sell to the public at a markup. Usually they need to see the coins in their store to give you an offer. Sort of like the TV show "Pawn Stars".

Usually foreign coins (unless they are very rare and very old) will sell for their face value or their bullion value less the discount the store deducts from their value which is their profit in the transaction. A two Euro coin is worth about $2.50 face value, but a silver English crown is worth probably $15 just for the silver.

A foreign coin sold in its native country could sell for more than here in the US as there are more collectors of English coins in England than there are here. Many foreign coins are almost worthless as many countries over the years have devalued their currency so much, they have no face value, and worse they were not made of silver but cheap aluminum.

Ebay is a good location to see value or if any of the coins are rare. If the coins are made of silver or gold they are probably worth your time in selling. If they are copper, zinc. nickel, aluminum etc. and are not from a major European country, probably not worth your time.

If there are real gold coins (not gold colored aluminum) get a number of offers from coin stores or pawn shops before you sell. Under no circumstances send the gold to one of those gold buying by mail outfits as they will pay you very little for your gold, despite their guarantees.

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