Guide for Online Coin Selling
The whole process of selling coins on websites needs a coin price guide, careful planning, demanding true information in the listing, and requiring strict following of sending rules.
Preparing the Coin for Sale
Before putting the coin on sale, you must check its details and make records.
Attribute and Valuation
The person selling the coin must find all technical parts exactly, making this information a main part of the selling words.
Find the country making the coin and the exact year it was made.
Write down the money value of the coin and the metal used to make it, for example, simple copper or 925 silver or 900 gold.
If you can, find and write down the mark of the mint, showing where the coin was made.
Check how good the coin looks using the standard coin scale, for example, Fine, Very Fine, or Mint State, remembering that a too-high grade will result in the buyer sending the item back.
Look up information about how many coins were made, which is called the mintage, and check for special types or mistakes, remembering that these small changes can make the coin worth much more money.
Find the actual money prices that similar coins sold for on big selling sites in the last year, avoiding the use of prices that sellers are now asking but have not yet received.
Handling and Storage
Never cleaning coins is the most important rule, because cleaning the coin, even doing it well, almost always lowers its value, breaking the natural old layer or leaving small scratch marks.
You must only hold the coin by its edge, stopping your skin from touching the flat surface, knowing that finger oils contain acids which can change the color badly.
Put the coin into a new, clear, safe plastic box or holder, making sure it stays safe while you take pictures and keeping it protected until you send it to the buyer.
Technical Photography
All the pictures must show clear facts and look neutral, serving as the main proof of the coin's true condition.
Use soft white light, avoiding bright lamps or direct sunlight, making the light minimize shine and shadows, letting the true shape and surface be seen clearly
The surface behind the coin must be one color and simple, helping the buyer see the coin's real color without other things getting in the way
The picture must be big and clear, needing at least 1200x1200 pixels in size
Take pictures of the front side, the back side, the edge, and also very close-up pictures of any small marks or possible bad areas, showing every part
Set the camera or change the picture so that the colors match the coin's real color as closely as possible, knowing that wrong colors will lead to fights with the person who buys it
Choosing the Selling Place and Way
Deciding where to sell the coin decides the payment you give and the group of people who will see your item.
Online Auction Platforms
These are big sites like eBay or special coin-selling houses, offering a large group of people to see the items.
You get the largest number of people seeing your item, having clear systems for paying and fixing problems.
You must pay high fees, sometimes 10 to 15 percent of the final price, also needing to follow the site's rules very carefully.
Ways to Sell:
Start the bidding at a small price, setting a hidden price that must be reached for the coin to sell, attracting many people.
Put up a clear final price, saying the coin will not be sold for less, which is good for coins that are common and have a known market value.
Niche Marketplaces and Forums
These are special places on the internet where only coin collectors look, offering direct contact with the buyer.
You talk only to people who like coins, paying very small fees or no fees at all.
A small number of people see your item, needing you to manage safety and money moving by yourself, increasing the chance of people trying to cheat.
Making the Listing and Deciding the Price
The listing must give correct technical facts, giving every piece of needed information.
Title Structure
The title must have the main words for search engines to find it easily, using this order:
Country + Value + Year + Mint Mark + Material + Condition Grade + Special Notes
Example: American Lincoln Penny 1C 2005 EM Copper VF Edge pattern.
Lot Description
You must put these parts into the written description, making the listing complete:
The year, the money value, the metal, the weight, the width, and the thickness, all listed in numbers.
Write about any marks you see, like scratches or edge damage, describing the type of old color, and showing how worn the high parts are.
If you know who owned the coin before, write this history down, only doing this if you have papers proving it is true.
Write clearly if the price can be changed, and say exactly how many days you need to send the coin after getting the money.
Here is a table showing the most important details you must put into your coin listing, making sure the buyer has all the facts.
Final Price Calculation
When setting the price, you must count all the costs, making sure you get the money you want to keep.
The price is found by looking at other similar coins that are already sold, setting your base value.
The part of the money that the selling site takes, for example, 10%-15%.
The money taken by the service that handles the payment, for example, 2%-4%
The money needed for the box, the safe wrapping, and the post office service.
Thinking about the government money you must pay on the profit, if the rules say you must.
Your money left = Selling Price - (Site Fee + Payment Fee + Sending Cost + Tax Money). Set the price using this plan.
Money Moving and Paying Rules
Making sure the money moving is safe and can be checked is a very important first step.
Payment Reception
Use the money systems already built into the selling site, for example, using PayPal or bank card services through the site, making the buying and selling process safe for both people.
Never accept money in simple cash or money sent in a way that cannot be checked, avoiding these ways because they have a high risk of being stolen or lost.
Say clearly which country's money you are using for the sale, writing down who pays the costs for changing the money if the buyer is in another country.
Return Policy
Write down clearly the reasons why the buyer can send the coin back to you.
Let the buyer send the coin back for 7 to 14 days if the coin is very different from what you wrote, for example, if the grade is wrong or there is damage you did not show.
Do not let the buyer send the coin back just because they "changed their mind" or if they suddenly do not like the old color, assuming the color was shown well in your pictures.
When sending back the coin, the buyer must use a post service that can be checked and has insurance, waiting for you to get and check the coin before you send their money back.
Sending the Coin and Safety
Good wrapping and sending help lower the chance of the coin being lost or broken, knowing that the seller is fully responsible until the coin arrives.
Packaging
The main goal of wrapping is keeping the coin safe and stopping its movement, also making it hard for bad people to steal.
The coin, staying in its safe box, must be wrapped tightly in soft material like bubble wrap or thick paper, keeping it from moving.
Put this first safe package inside a small strong box, filling the empty spaces inside the box with soft filling, stopping the coin from moving around inside.
Put the small box into a bigger, strong paper envelope or a second box, making the package strong.
Tracking and Insurance
Using a tracking number and paying for safety money (insurance) is a must for selling valuable things.
Always send the package with a tracking number, giving this number to the buyer quickly after sending the item, letting the buyer know where the coin is.
Pay for insurance that covers the full money price of the coin, knowing that without this insurance, you will lose all your money if the coin gets lost or broken.
When sending to another country, fill out the form for customs, writing simple words like "Metal Disc" or "Old Item" in the box for what is inside, telling the true price for the insurance part of the form.
Fixing Problems and Buyer Feedback
Selling well depends on how quickly and smartly you can fix any small arguments that come up.
Condition Claims
If the buyer says the coin does not look like the listing, ask them right away to send you pictures showing the problem.
If the problem is about the coin's grade, and the coin was sold without a professional grade, tell the buyer they can send it for grading by a known company, saying you will pay for the sending back and the grading fee if the new grade is lower than your first grade.
Feedback
If a customer leaves a bad review — try to solve the problem by returning a small amount of money to them, realizing that a bad review harms future sales.
Planning for Future Sales
A serious selling plan needs you to keep records and look at what is happening over time.
Sales Record Keeping
You must keep a clear list of all sales, needing this information for taxes and for seeing how well you are doing.
Make a simple computer list or use special software, keeping all the facts in one place.
The day you sold it, the number for the coin, the final price, the money you paid for fees, the money you paid for sending, the money you kept, and the buyer's name.
Keep all the pictures of every coin you sold, using these pictures if you have to fight a problem later.
Trend Analysis
Look at your initial price for the coin and compare it with the final price that the buyer paid.
If the final price turns out to be much higher than you thought, it means that next time you can request more money.
Pay attention when people buy more or less coins, remembering that in the summer or due to big holidays, people often buy less.