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Readers Respond: How to Make Money Selling Coins

Responses: 4

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What is the best way to make money in coins? Some people profit by selling one-per-person limited-issue coins to coin dealers, such as the Ultra-High Relief Saint-Gaudens coin that had a one-per-household limit. Do you have a tip for making money in coins?

Easy to make profit

I know a coin store that takes TONS of coins an sells them for very little. I found coins easily worth $5+ for only twenty-five cents. I think when you find deals like that, you should buy them on the spot. Take them home, do a little research, (so YOU can get the right amount of money for them) and sell them on eBay. Just get a clear shot of them so people will want to purchase them. If you don't want to sell your coins, consider opening a museum and selling tickets. Doing so would be much more difficult than selling the coins, though.
—Guest Coin Seller

Knowledge about coins

I once bought coins from a very keen dealer who even visited me at my house. But I did not have enough knowledge about the coins he wanted to sell me. As a general rule, I would say you first read about the coins you want to buy. Get all the info possible, so you can make an informed decision. If you pay to much for your coins, you won't be able to make money selling them!
—Fanie11

How To Make Money Selling Your Coins

As one who has had over 1,400 transactions in selling coins on my e-Bay, I have found the best way to get a little more money is to take good pictures. How many times have you seen a seller selling coins and they want you to judge the coin, but you can't because it's blurry. They can't see the quality your seeing so the bid goes lower then you expected. If your selling silver quarters, dimes or even wheat cents, try selling mint sets P-D-S. I wanted to move coins, and while this was to save people money in shipping, it also turned out to help the bottom line. I charged $3.49 flat rate to ship an auction. That included first class mail, delivery confirmation number and mailing bag, handling. I offered FREE combine shipping for up to 5 days. While lots of people just bought one auction and then paid other took advantage of this as I wanted them too. If it cost more to ship, I just ate it and paid the little difference. What that did was build a customer base that forced bidding higher.
—Guest Kevin

Beware

From an individual I recently bought Walking Liberties & Peace coins & got stung by counterfeits & junk. Buy only from reputable dealers.
—Guest Chuck1

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