Coin collector reveals how YOU can claim $5,000 with one quarter (2024)

FAQs

How can I get the most money for my coin collection? ›

Your Local Coin Dealer

According to CoinCollector.org, neighborhood coin dealers often extend preferred rates that match or beat the best online prices, because they want to establish long-term relationships with local hobbyists. They can inspect your collection, assess its value and answer your questions face-to-face.

By spending only a couple hundred dollars, you can start a decent rare coin collection that you might be able to sell for a profit just a few years down the road. If you have $1,000 or so to invest, you can buy a large quantity of valuable coins that will push your profit even higher.

The PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Company) are the two most reputable coin grading services out there. In coin collecting, there is no alternative to these two organizations. The PCGS is generally considered much more reputable than the NGC, but their services tend to be pricier.

With just one coin currently in existence, the gold 1849 Double Eagle is considered the rarest and most valuable coin in US history.

1933 Double Eagle

And here is the world's most expensive coin of all time: the 1933 Double Eagle, worth up to $18.9 million. It sold for this price at auction in 2021, per Smithsonian Magazine.

Although the internet is blurring the traditional coin seasons, the two best times of the year for selling your coins are still around the FUN show in January and at the summer ANA in July or August. This holds true for selling a coin yourself, on consignment, or through an auction.

If your coins are not graded, or have been graded/certified by a company other than PCGS or NGC, you should contact a reputable coin dealer or attend a coin show to help determine the value.

How do I get the best value for a coin collection? ›

The rarer the coin, the higher the value in most cases. Before you bring your coin collection in for an appraisal, try to sort them out based on things like the year, the condition, or the type. This will make it easier to gauge the value of each coin and will help you keep track of the value of each item.

Silver coins will prove the easiest to sell among bars, rounds, and coins since sovereign governments issue them. American Silver Eagles have been in consistently high demand over the last three to four years and are considered liquid even compared to other silver coins.

With coin collecting, as with collecting other items, the more rare the coin, the more valuable it is. investing in rare coins has the advantage of potentially providing significant profits. However, it also has downsides to consider, including the fact that earning money investing in rare coins takes time.

Yes, You Can Deposit Coins at Your Bank

Most banks or credit unions will accept rolled coins from customers, but some may charge a fee for the service. Some banks, such as Wells Fargo, will exchange rolled coins for customers without a fee. Wells Fargo says it also offers free coin wrappers. Check your bank's policy.

To exchange coins for bills, try taking them to a local bank or retailer that offers coin-counting services. With some coin-counting machines, like Coinstar, you can also exchange coins for gift cards for free or donate your spare change to charity.

For paid appraisals, the average price of time that you may be charged for an appraisal is somewhere between $100 and $250 per hour. Insurance appraisals can cost you anywhere between $50 and $100 per coin. There is no one answer when you ask how much it costs to have coins appraised.