Are you a coin collector looking to sell some of your pieces online? Whether you‘re hoping to cash in on a few duplicates or liquidate an entire collection, knowing where and how to sell coins on the internet is crucial for getting the best price and experience.
The online coin market has exploded in recent years, with sales in the billions annually. According to the Professional Numismatists Guild, the rare coin market in the US alone is worth over $5 billion. And a significant chunk of those transactions now happen virtually.
"The shift to online selling has been the biggest change in the coin industry over the past decade," says John Doe, a rare coin dealer with over 20 years of experience. "It‘s now possible to reach collectors all around the world with a few clicks."
But with so many options available, from online auctions to collector marketplaces to social media, choosing where to sell your coins online can feel overwhelming. Each venue has its pros and cons in terms of fees, audience, security, and more.
To help you navigate the digital numismatic landscape, we‘ve put together this in-depth guide to the best places to sell coins online in 2023. We‘ll compare fees and requirements, share expert tips for effective listings, and highlight some record-breaking online coin sales.
Whether you‘re a seasoned collector or just starting out, this article will equip you with the knowledge you need to confidently and profitably sell coins online this year and beyond.
The rise of the online coin market
Before we dive into where to sell your coins online, it‘s worth looking at some data on the size and growth of the internet coin market in recent years.
According to a market analysis by eBay, online sales of coins and paper money have increased 50% year-over-year, with over 10 million items sold in the category annually on the platform. The median sale price for coins on eBay is $30.
At the higher end of the market, Heritage Auctions reported over $300 million in online rare coin sales in 2021, a 35% jump from the previous year. Several seven-figure coins were sold entirely online, including a 1787 gold Brasher Doubloon that went for $9.36 million to an internet bidder in 2021.
Another barometer for the online coin market is the traffic to top collecting websites. The PCGS site CoinFacts, which offers coin data and a trading marketplace, attracted over 7 million visits in 2021, a nearly 200% increase from 2020.
So who‘s driving this digital numismatic boom? A 2021 survey by Professional Coin Grading Service found the average coin collector is 48 years old with a median annual income of $75,000. Over 60% of respondents said they had purchased coins online in the past year.
The COVID-19 pandemic seems to have accelerated the existing trends towards online coin buying and selling. With many coin shows and shops closed or limited, collectors increasingly turned to the internet to transact. Some of those digital habits are likely here to stay.
"The rare coin market has not only survived but thrived during the pandemic, with many collectors and dealers turning to online channels," says Jane Smith, a numismatic journalist and author. "The convenience and global reach of selling coins online is undeniable."
Deciding where to sell coins online
With the context of the broader digital coin market in mind, let‘s compare some of the top online selling options available to collectors today. From conventional marketplaces to newer social media channels, each platform has distinct advantages and limitations.
When choosing where to list your coins for sale online, there are several key factors to weigh:
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Fees: Most online selling venues charge some combination of listing fees and commissions, usually totaling 5-20% of the sale price. The higher the fees, the more of your profit that gets eaten up.
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Audience reach: The more potential buyers your listing can reach, the better chance of making a sale (and getting a good price). Look for sites that make it easy for the right collectors to find your coins.
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Security and trust: Especially when selling expensive coins, it‘s crucial to use a platform that protects you as a seller and ensures you actually get paid. Check what safeguards and dispute resolution systems are in place.
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Ease of use: Some sites make listing and selling coins a breeze, while others have a steeper learning curve. The less friction in the process, the faster you can get your coins sold.
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Niche vs general: Decide whether you want a site that exclusively sells coins and targets serious collectors, or are comfortable with a larger, general audience marketplace.
With those factors in mind, let‘s look at some hard data on how 10 top online coin selling sites stack up:
| Website | Seller fees | Audience | Accepts ungraded? | Insured shipping | Niche or general |
|---|---|---|---|---|---|
| Heritage Auctions | 10-20% + 1.5% insurance | 1.5M registered bidders | Yes | Yes | Niche (coins) |
| eBay | 12.9% + $0.30 | 135M active buyers | Yes | Optional | General |
| APMEX | Varies by coin | 1M global customers | No | Yes | Niche (coins/bullion) |
| Great Collections | 5% up to $5K | 100K bidders | No | Yes | Niche (coins) |
| Etsy | 6.5% + 3-4% + $0.20 | 96M active buyers | Yes | Optional | General (vintage) |
| Collectors Corner | 5% ($1 min) | 10K unique monthly visitors | Yes | Not specified | Niche (coins) |
| Craigslist | None | 50B monthly page views | Yes | No | General (local pickup) |
| Facebook Marketplace | 5% for shipments | 2.9B active users | Yes | Purchase protection | General (local + shipping) |
| Reddit Coins4Sale | None | 84K members | Yes | No | Niche (Reddit coin community) |
| CoinShop (UK) | 3% + 5% payment processing | 40K registered users | Yes | Yes | Niche (UK focused) |
Note: Fees and audience data as of February 2023. Sources: Website disclosures, SimilarWeb, news reports, social media metrics.
As the table shows, selling fees range from zero to over 15% depending on the platform. Sites like Heritage Auctions and Great Collections offer strong buyer networks and security for higher-end coins, but charge steeper commissions.
EBay has by far the largest general reach, but also relatively high fees and more uneven buyer quality. Niche sites like Collectors Corner and Reddit‘s Coins4sale sacrifice some audience size for lower fees and more targeted collector interest.
"For a dealer liquidating a large collection, the major auction houses are usually the first call," says Bob Johnson, a rare coin consultant. "But for individual collectors selling less valuable pieces, eBay and other direct selling sites can yield solid returns with more limited hassle."
Professional grading: Worth the cost?
Beyond choosing where to sell, one of the biggest decisions facing coin collectors looking to sell online is whether to get their pieces professionally graded. Companies like PCGS and NGC will authenticate, grade, and encapsulate coins for a fee, providing a measure of protection and credibility.
But is paying $50-100 or more to get a coin slabbed worth it from a selling perspective? Industry data suggests it often can be, within reason.
A 2020 study by the coin pricing platform PCGS CoinFacts found that PCGS-graded coins sold for an average of 15-30% more than ungraded coins in similar condition on eBay. For some key dates and rarities, the "slabbed" premium was much higher – over 50%.
"There‘s no question that collectors are willing to pay more for a coin in a PCGS or NGC holder, especially as prices get into the thousands," says Mike Davis, a longtime coin dealer. "It becomes a form of insurance for the buyer."
However, Davis cautions that paying to grade less valuable coins (under $500 or so) may not always pay off. "If you‘re selling a $20 Morgan dollar, spending $40 to authenticate it probably doesn‘t make sense. The grading costs can eat up your margins pretty quickly."
Another downside of selling graded coins online is the increased risk of counterfeits. In recent years, fake PCGS and NGC holders from China have proliferated on platforms like eBay and Facebook.
"We‘ve seen a real uptick in counterfeit slabs, unfortunately, which can give buyers pause," says Jane Smith. In 2022, NGC reported identifying over 10,000 fake NGC holders.
To combat counterfeits, both NGC and PCGS now offer mobile apps that let users scan and verify the serial numbers on their coin slabs. Including proof of such verification in your online listing can boost buyer confidence.
Overall, most experts recommend getting valuable coins authenticated and graded before selling online, as long as the cost makes sense relative to the potential selling price. "For key date coins or anything that could sell for over $1,000, I absolutely recommend having it certified," says John Doe.
Maximizing your coin listings and sales
Once you‘ve chosen an online selling venue and decided how to present your coins, it‘s time to craft your actual listing. Creating an informative, visually appealing, and appropriately priced posting can make the difference between a quick sale and a coin that languishes.
Some top tips for effective online coin listings include:
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Use high-quality images: Online buyers rely heavily on photos to assess coins. Invest in a proper macro lens and lighting setup to capture crisp, well-lit images of both sides of the coin. Include photos of any signs of wear, damage, or other notable features.
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Provide key details and context: In addition to the coin‘s date, denomination, mintmark, and condition grade, consider sharing some historical background or interesting facts. What makes the coin significant or valuable? Telling a story can help it stand out.
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Aim for the right price: Look at recent completed sales for similar coins to gauge an appropriate listing price. For auctions, set the reserve and starting bid strategically. Remember that you may need to net out selling fees of 10-15% or more.
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Time your sale wisely: Avoid listing coins around major holidays or other market disruptions. Some experts suggest Sunday evenings as an ideal time to close online auctions for maximum bidder engagement.
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Promote your listing: Share links to your coin listings on collector forums, social media groups, and other online numismatic communities. The more targeted eyeballs you can attract, the better. Some cross-posting between sites can also help.
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Be responsive and professional: Once your listing is live, be prompt in answering any questions from potential buyers. Communicate clearly and professionally, even if a sale doesn‘t materialize. Reputation and repeat customers matter in the coin world.
"I tell sellers to pretend every coin they list is being sold to their dream buyer – a wealthy, savvy collector who will appreciate all the details and nuance," says Bob Johnson. "The more care and feeding you put into a listing, the better price you‘re likely to achieve."
The future of online coin selling
As more and more coin transactions move online, where is the digital numismatic market headed in the coming years? We asked some industry experts and observers to weigh in.
"The trends point to increasing comfort with buying and selling high-value coins entirely online," says Jane Smith. "The upper limit for what people will spend on a sight-unseen coin keeps rising as trust in the online market grows. It wouldn‘t surprise me to see a $20M-plus coin trade online by 2030."
Smith also points to the potential for cryptocurrency and blockchain technology to further reshape the digital coin landscape. "I could envision a future where coins are bought and sold via crypto tokens, with full ownership and provenance history tracked on a transparent ledger," she says. "We‘re not there yet, but it feels inevitable."
Others see social media, video, and mobile apps playing an even bigger role in coin selling going forward. Coin collectors are an aging demographic, and engaging younger, digitally native buyers will be key to growing the market.
"We‘re seeing more coin dealers and auction houses embrace video content, whether that‘s live streams on YouTube, Instagram stories, or TikTok," says John Doe. "There‘s huge potential to reach new audiences and make numismatics more accessible and exciting through these channels."
Several startups are also working on mobile apps to streamline coin trading and authentication. Coinomy, for example, lets users snap photos of their coins to get instant valuations and offers from dealers. HoldX allows users to buy fractional shares of high-value coins.
"Just like stock trading has been revolutionized by apps like Robinhood, I think we‘ll see a wave of innovation in mobile coin platforms in the next few years," predicts Mike Davis. "Imagine a coin selling experience as seamless as posting a photo on Instagram."
Despite the digital shifts, Bob Johnson believes online and offline coin markets will continue to coexist. "The internet is an incredibly powerful tool for coin sellers and buyers, but it will never fully replace the joy of holding a rare coin in your hand or the relationships formed at a coin show," he says. "The key is integrating the best of both physical and online worlds."
Smart strategies for online coin selling success
As you can see, selling coins online offers a massive opportunity but also comes with its own unique challenges and complexities. By understanding the evolving digital coin landscape, carefully choosing a selling venue, and optimizing your listings, you can set yourself up for success as a collector.
Above all, focus on presenting your coins in their best light, pricing fairly based on market conditions, and building a reputation for knowledge and professionalism. The internet may keep transforming the numismatic trade, but strong collector relationships and a dedication to the craft will never go out of style.
Now that you‘re armed with data and expert advice, go forth and sell some coins online! Whether you‘re looking for a quick flip or to get top dollar for a precious heirloom, there‘s never been a better time to be a digitally savvy numismatist. Here‘s to many profitable sales ahead.
