Do you want to sell coins in Chicago? If you’re new to selling collectible coins, entering the seller’s market can come as a shock. To manage your expectations, learn the four top things buyers look for when you sell coins in Chicago.
Mintage
Mintage refers to the number of times a particular coin was manufactured, and it’s the primary indicator of a coin’s value. The fewer coins are in circulation, the more valuable it becomes. While there are millions of most modern coins, there may be as few as 10 – 12 of some of the most rare coins.
Quality
Professional graders use a universal scale from 1 – 70 to describe the quality of rare coins. Proof coins with a 65+ quality grade are the highest quality coins. If a coin’s quality has diminished to the point where it’s difficult to read or irrevocably damaged, it will significantly reduce the value of the coin.
Age
Older coins hold more value due to their historical significance. The coin will also become rare as it gets older and similar coins get lost along the way. Of the top ten
most expensive coins in the world, all but one was minted before the 21st century.
Demand
Any seller should know that the true value of any particular item is how much you can get someone to pay for it. At this time, people still seem to buy coins. However, the value could go down without notice.
Visit Chicago Gold Gallery to learn more about selling coins in Chicago.
