everyone welcome back to Blue Ridge
surround all you coin AHA lips I am
Shawn I'm your host for this video this
evening and we are here like two days
shy from the end of September
boom almost done we are heading into a
time of the year where everybody is
strapped for cash
that's right guys and what are we
selling well you guys know my subject
matter
we're selling coins baby coins that's
where it's that and what I wanted to do
is revisit this topic okay I might have
to do this every year as a refresher
hope you guys don't mind but every time
this year I get floods of emails Shawn I
need to sell this where can i solid at
what whether you buy it for well you
know I don't buy just anything okay i'm
i'm a consultant most of the time when
it comes to these sayings i'll show you
where to sell it all right i get dozens
of emails on the daily basis so being
able to give you guys the right
information in which you could sell
these coins for the most amount of money
depending on your timeline is important
because the last thing you want is to
not get as much as you deserve for your
coins and currency along with other
collectible items as well
so we're gonna discuss the three top
ways that you can sell your coins
currency bar none in today's economy
it's important to know the differences
between each method okay coins is a very
generalized and broad subject filled in
in this particular hobby alright but you
can't necessarily sell every single coin
through one specific avenue okay it's
like I have every coin and every piece
of silver every piece of gold is selling
it on eBay the best route for me
or you you know it may not be the case
so we're gonna kind of drill down on
some of these areas so that way you guys
know which ones gonna work best for your
collection and so that way you guys will
make as much money as you can and
hopefully the shortest amount of time
possible so let's go ahead and get
started with undoubtedly the first kind
of like and most obvious way to sell
your points is to simply hunt out the
coin dealer that's in your area now some
of you don't have the benefit of having
a coin dealer nearest you especially
it's some of you that are in smaller
towns you know maybe you know your
particular counter or city your locale
has no more coin shops okay coin shops
before it you know right around 2008 and
before that before the recession period
a lot of them did closed down because
there just wasn't a profit to be made
alright so the amount of coin dealers
are out there are few and far between
but you're something you got to know
about coin dealers that's important okay
and I stress us enough okay coin dealers
in the past have gotten somewhat of a
bad rap okay you know coin dealer a
didn't give me much for my coin you know
as opposed to be selling out my own okay
you gotta understand the anatomy of how
a coin shop works alright coin shops
have electricity to pay they have to pay
the lease they have to pay Internet they
have to pay the phones you know there's
a lot of overhead that's involved okay
even throw in advertising internet
advertising okay software computers all
these things factored in somehow some
way on how much you get for your coins
okay in terms of the grand scheme of
when you can expect your money and how
quickly okay I'm happy to say that a
coin dealer will provide cold hard cash
then and there if they want to buy your
product alright and keep them
okay coin dealers can be a little bit
finicky in terms of the the type of
coins and currency that they buy they
won't buy just anything all right there
has to be some sort of value so for I
have a few examples of things here that
will work out perfectly for this
particular situation so if you have
broken mint and proof sets they won't
buy these okay
in some cases all right they will do a
good job picking up just silver bullion
all right this this is a panda a Chinese
panda right here one thing you'll notice
is that it's not encapsulated in a
third-party grading holder okay the
reason why I did this is that they do a
better job buying things like these and
paying around spot price for the price
of the silver and gold okay you don't
want to try and challenge them to
purchase something that slab as a
midstate 70 or proof 70 all right when
all they see is the gold or a gold and
silver okay without degrading alright so
dirty you know you walk into a coin shop
with something like this they're gonna
pay you a lot less than the market value
of that piece okay so that wouldn't be a
great idea to sell out a coin shop so
just anything generally I would say
that's you know it could be a classic
coin
they'd be like raw coins don't even buy
clean coins some cases they'll buy slab
coins too but not every dealer does it
okay there are some legitimate coin
dealers that also specialize in graded
coins you know like PCGS NGC annex
things of that nature plus you know some
of the coin shops to actually have a
internet storefront something ecommerce
driven you know website okay
those guys are probably some of the best
okay because what they'll do because on
anything else like on precious metals
they'll pay you know a few dollars under
spot
what the spot prices at that given time
for that things like this they'll pay
you you know whatever gray sheet is okay
it's the coin dealer nuisance letter 99%
of all coin dealers subscribe to that
pricing sheet and it's usually wholesale
bid okay it's what they give you
sometimes they'll give you a little bit
less than that even all right and try
and make a bigger margin on the coins
that they buy from you so some of the
the things I wouldn't personally sell at
a coin dealer are like your rare
varieties okay most of them don't even
care about that so some of the
specialized graded coins again depending
on the dealer you want to make sure that
they specialize in that type of stuff
before you go and sell okay because they
love love holding back as much money as
they can on the collector stuff so that
way they can make the most amount of
money possible alright and then another
thing to keep in mind if you have a like
a large collection that you want to sell
you want to make sure you get it to a
coin shop as early as you can so as soon
as they open as long as say the owner or
the buyer is there okay they can work on
your transaction you can leave your
collection there they could go ahead and
process it they could do the appraisal
and then they'll call you okay if you
wait later in the day right like two
hours before they close they're not
gonna be able to get that to you until
the next business day
so that might even hold up you getting
some funds okay as quickly as possible
especially on a Friday it's tough
because if you get the coin collection
they're too late they may not have the
opportunity to go through it before the
weekend hits sub-point dealers aren't
aren't operating on a Sunday but
sometimes they're open on a limited
basis on Saturdays I don't know why that
really matters but as far as you know
what you can get back at from a coin
dealer keep in mind you're getting
wholesale on your coins sometimes less
than that you're gonna get a lot less
money but it's quick
okay it's money that you know what we're
just gonna they're gonna pay you right
then and there in cash or depending on
the actual dollar amount they might even
stroke you a check where you're gonna
have to go to either their bank or
you're gonna have to get your bank to
cash it okay and then then you know
there's also that factor of you know the
one or two day hold which some banks do
so anyways that's the coin shop method
of selling your coins okay number two
all right is one that I feel like hasn't
gotten enough kind of like praise or
maybe consideration and that's selling
the coins on your own using some of the
websites that's available to you okay
now we're gonna talk about things that
aren't auction driven so I love selling
coins on Facebook all right but keep in
mind when you throw up some high dollar
stuff on some of those Facebook groups
people just won't consider it okay the
Facebook crowd tends to lean more on the
cheaper side of coins so they'll buy
stuff like this Chinese panda right here
they'll also buy things like this
Canadian Mint set you know no they will
pick up some varieties that you find
coin roll hunting things like that and
the part that I like most about you know
like Facebook you know or maybe even the
forum chat pages is that they will try
and barter with you the best that they
can okay the only thing is if you agree
on a sale on any of these pages you okay
you got make sure that it's secure so
paying with PayPal all right as goods
and services is important but the money
gets held up a little bit longer
especially if you don't have the the
PayPal debit card where you know you
have it like it's like a bank card and
bank debit card where you have a PIN
number you could go to any ATM withdraw
the funds and keep in mind you can only
withdraw up to $500 per day with the
paypal method alright but it also saves
you a lot of heartache in event that
you're dealing with someone that's kind
like on the shady side when it comes to
things like this because you just never
know but you got to protect yourself
with these online transactions but this
is a fun way of selling your coins okay
regardless of what it is and there's
virtually no fee the only fee that
you're paying is on PayPal side alright
so you know it would be what the two or
three four percent well however much it
is for that transaction for a nada nada
for goods and services sorry
it's way too late for this but hey
that's that's what I love about selling
coins on like Facebook you know even
Instagram people are selling coins on
there as well that's another great way
of doing it and also these forum sites
coin talk coin community collectors
universe collectors society which is NGC
there's a bunch of different places that
you can sell your coins okay and one
thing that I will bring up because this
is paramount if you're trying to sell
coins photography ladies and gentlemen
taking clear and concise images of your
coins most people own a smartphone most
people own kind of like that middle
grade maybe your models two years old or
so alright
think of it like iPhone 10 or you know
iPhone 7 I did a video I think right
before the summer on how to take perfect
photos with your smartphone and guess
what I was using an iPhone 6s in that
video if you're interested in knowing
more on how to take pictures the best
way that you can that's nice and clear
and using them just natural lighting all
right go ahead and click in this link
it's somewhere around up top here and
it's gonna be one of the best videos
reference wise that you're gonna will
have to look for as you're imaging not
only coins but currency and any other
collectible item that you're selling
keep in mind with Facebook there are
comic book sites there sports card you
know buy sell trades you
you can name it antiques book collecting
they have it all on there okay and then
it couldn't be easier plus plus you have
a community that you know you can have a
conversation with about your coins
alright but that's one of the best ways
that I personally love because the fee
is love so that's the second method of
selling your coins as quickly as you can
alright that's probably the second
quickest now the third quickest is not
so much the fastest but understandably
you have the greatest audience for your
collectible items that anywhere else and
that's selling to an online auction
house like eBay is a great example they
are the biggest most broadest they are
the Amazon of the auction world okay
eBay is very highly recommended among
most coin dealers who dabble in online
e-commerce interface when they're
selling their coins okay
again taking pictures okay clear quality
beautiful pictures is important if you
are going to be successful in selling
your coins on eBay
alright there is a second part to this
number three that I want to talk about
them a touch on eBay real quick keep in
mind there are a few things that you
need to know about first of all your
coin will not sell right away okay
ideally you'll want to post a coin
whatever it may be with your clear
pictures for a minimum of five days if
you do anything sooner than that like a
three day or a one day auction the fees
will be higher and you won't get as much
exposure to your collectible items in
that amount of time for the auction for
the bids alright so you want to make
sure you do like a 5 7 or 10 day action
there is a 30 day auction or good until
cancelled I'll buy it now items you know
if if time is not of the essence and you
could wait on some cold hard cash
for maybe two weeks then I would
certainly you know challenge the ebay
method okay again you have millions of
people on tap ray to place a bid on your
item if you get like three or four
people and a bidding war on your
collectible items the value is just
gonna keep going up all right so you're
about to make the most amount of money
on eBay okay now keep in mind again
photos and the duration of your listing
so the second part that I want to also
address is selling your points and this
is kind of like a you know 3a 3b
scenario but the second part of this
number three is selling it through a
major auction house like a Heritage
Auctions okay it's fantastic great
collections is another one I that I back
and endorse because they are fantastic
stacks Bowers David Lawrence legend
Murphy and there is a bunch ok there's
about a dozen really solid auction
houses that can take your consignments
in now keep in mind these auction houses
okay
don't play they like the nicer quality
items for example this 1870s ceded
Liberty half dollar is one that I would
undoubtedly send to an auction house
okay and have them put it on for like a
four 14 day auction okay great
collections can do that for you among
different other duration choices they
have probably some of the best
advertisement so they will reach out
specifically to all of the coin people
in the community about these sales that
are going on on their websites okay now
keep in mind you won't get paid for
about 30 to 45 days but you will make
the most amount of money on your
collectible coins and currency so with
that being said if all this sounds gravy
and you want to challenge any one of
these three methods in selling your
coins for cold hard cash
that make it happen there's no other
easier way to sell your coins that don't
even try it there's no
such thing as trying to reinvent the
wheel okay when it comes to selling okay
there's three proven methods in which
you can make some quick money all right
so close to the holidays people are
going to be looking for ways to make
money for Christmas for Thanksgiving for
traveling all right and it's gonna be
important to find out which possible
methods are gonna be the quickest for
you to get money in your hands right now
all right so I wanna thank you guys for
joining in on this video like share
subscribe
I'm your host Sean with Blue Ridge
silver hound as always coin a holux keep
ball collective and I will see you guys
next time
see ya