What percentage do coin dealers take?
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What percentage do coin dealers take?
While it’s not an exact science, most coin dealers will pay 70\% – 90\% of greysheet prices for your rare coins. The lower end of this scale should be for designated for less popular or improperly priced items.
How much profit does a coin dealer make?
The salaries of Coin Dealers in the US range from $19,720 to $64,640 , with a median salary of $29,700 . The middle 50\% of Coin Dealers makes between $26,397 and $29,582, with the top 83\% making $64,640.
What price guide do coin dealers use?
You can use the Red Book ( A Guide Book of United States Coins) to determine the retail “price” of the coins you inherited. If you plan on selling them then you should use the Blue Book (Handbook of United States Coins) which will tell you the retail “value” of the coins if you wish to sell them.
Should I clean coins before selling?
Only if the coins have more sentimental value to you and you don’t plan on selling them. Generally, it is better to leave your antique metal currency alone than it is to try and erase all the grime and grit off of those coins. Cleaning or polishing rare coins devalues them.
How can you trust a coin dealer?
Important Tips for Finding a Trusted Coin Dealer
- Research Their Experience.
- Check for Real Assets.
- Assess Their Reputation Among Peers.
- Assess Their Ethics.
- Determine Your Recourse for Disputes.
- Additional Tips.
How do coin dealers make money?
Unfortunately, these dealers must pay lower prices in order to make a profit on their sales. The retail coin dealer gets most of his stock from the wholesalers. Although retail coin dealers may also attend coin shows and buy locally, most of his business income is from servicing a clientele of single-coin buyers.
Do coin shops pay spot price for silver?
Most bullion dealers will offer about 95 percent of the spot price, though this will vary depending on market conditions.
Where can I find the current value of a coin?
The PCGS Price Guide is a guide to assist the coin buying public in determining values for all important United States rare coins.
How much does it cost to get coins appraised?
Many online appraisals are available for free, especially by auction houses looking to list your coins. These free appraisals are for valuation and selling purposes only. Formal written appraisals can range from $75 to over $150 per hour, depending on the coins, appraisal details, and purpose.
What do coin dealers pay for wheat pennies?
The Market for Lincoln Wheat Pennies Any wheat penny is worth at least 3-5 cents to most dealers. Given the popularity of collecting Lincoln Wheat cents, there will always be a demand for quality coins.
Are wheat pennies worth anything?
Although a wheat penny’s face value is one cent, all wheat pennies are worth more than their face value. Even those in poor condition are worth at least 3 or 4 cents, and some can be worth six figures. Most wheat pennies in good condition will be worth about $10 on average and are fairly easy to find and purchase.