Selling your Coin Collection

 

You got an inheritance from your Gramps. Being his most favorite grandchild, you are to receive his most prized possession, his Silver Coin Collection. The coins sure look shiny and costly. You are impressed by the size of the collection and its beautiful presentation in a huge velvet box. But what do you do with it? You donít know anything about silver coins. You donít know any other collector. Or any dealer, for that matter. What are you going to do with your inheritance?

Most people become silver coin collector by chance. Only a few people get into collecting coins on their own interest. Yes, a lot of people are fascinated with rare coins, or any rare collection, for that matter. But not all of them get into the hobby. It takes a very strong passion to be a collector of anything, especially something as expensive as silver coins. Not only the coins are pricey, taking care of them also costs a fortune. Not to mention the security measures one has to take if the collection has become so large and extensive that itís already worth a huge fortune. So most of the time, coming to an inheritance like this would make one want to sell right away and turn it to liquid cash.

If youíre one of the few lucky ones who inherited such a fortune and you have that same thought of liquidating the silver coins right then and there, you may want to hold on to it for a bit and sleep on the thought for a few nights. A silver coin collection may appear boring and scary at the same time to most because of the cost and the danger it may present if itís a huge and expensive collection.

However, there are joys in having a great collection and who knows? You might actually enjoy it or earn more by selling it at a much later date when you are more familiar in the trade.

Donít rush selling. Haste is waste, as they say. You may end up selling your collection short when you could have earned a fortune from it. So, try to know as much as you know about silver coin collection before looking for a buyer, or even before talking to a dealer. Itís always better to know a little something before entering into a discussion or negotiation with a dealer. This way, you would not be totally ignorant of the trade and will be least likely to be scammed. Know the basics first, at least.