For most people, a coin is something to be spent, like a quarter or penny. However, you may have come into a coin collection from someone else or may decide to start collecting them. Numismatic newcomers often find a coin and wonder what it is worth. They may have multiple of the same coin and want to sell coins in Chicago for various reasons. Understanding how to do so and where will put you on the right track for finding, buying or selling any coin.
Most people say something like, “I have a coin. What is it worth?” This provides no information to the person you’re contacting. If you want to go in person, you can show the coin and allow them to tell you about it. If you’re going online, you’ll need a description of the coin, such as mintmarks, dates, denomination and flaws, as well as metal composition if known.
The dealer you choose should be trustworthy. However, you should note that all dealers will quote you a retail price plus their markup for purchasing. However, when you sell coins to dealers in Chicago, they will try to get as close to retail price as possible. Therefore, you may want to visit with a few dealers, either online or in person, to determine which one will give you the best deal on your coin.
It’s important to know what grade your coin has, and each coin is graded by its condition, such as XF, AU, AG and others. Finding out which grading standards your dealer uses can help you determine the condition yourself and may help you get a better deal when selling.