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How to Sell Coins on Online Coin Auction: The Complete Guide

10 min read

So, you’ve got a knack for collecting coins. You’ve built an impressive collection, and you’re ready to take the first step to monetize your hobby.

Maybe you’re new to this, or maybe you’ve been collecting for years and you know everything there is to know about your coin collection. Either way, you need an easy way to start making coin off your coins, right?

Welcome to the world of online coin auctions. Stay tuned, we’re going to teach you everything you need to know about online coin auction houses, how they work, who does it best, and how you can transform your hobby into cold, hard cash.

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Online Coin Auction Basics

Coin auction sites are virtual marketplaces where coins and coin collections are purchased by the highest bidder. These websites rake in billions of dollars a year by helping people just like you get their coins in front of interested buyers.

Coin auction sites are virtual marketplaces where individual coins and entire collections are bought by the highest bidder. To start selling on online auction sites, you need to register there, enter some personal information, and choose a pseudonym.

Getting registered with these websites is simple; enter some personal information, pick a screen name, and you’re on your way to making sales.

Benefits of Coin Auction Sites

Consider these benefits of choosing online auctions to monetize your coin collection:

  • The top coin auction sites have many years of positive business dealings with the public. When you choose to use their platforms, you get to take advantage of their reputation and use it to your advantage.
  • Coin auction sites have budgets to dedicate to their web presence, websites, and mobile apps. Choosing these options to sell coins online means that you can make money with little to no initial investment.
  • Staff representatives are knowledgeable in selling your coins — it’s a cause they dedicated their career to. This usually means you’re more likely to sell the coins you list, and you’ll always have an expert in your corner.

How to Choose the Best Online Coin Auction Site

Joining an online auction site saves a ton of time when you’re looking for a way to sell coins online. However, with so many options out there, it can be difficult to choose the right online coin auction website.

We’ve taken out the guesswork and compiled a list of the top-rated virtual auction houses to make the decision process a breeze.

Heritage Auctions

Coin collectors gather from far and wide to participate in a Heritage coin auction. This auction house is the world’s largest and boasts an impressive yearly sales rate—they sell more coins annually than the next four of their competitors combined.

Fun Fact: Heritage Auctions held a World Record for the highest-grossing coin auction in history from 2013-2021.

If you’re not convinced a Heritage coin auction is a good fit yet, allow us to tell you a little more:

  • More than one million bidder members (that means more potential buyers)
  • Connections with more potential worldwide buyers than any other auction site
  • Heritage staff grades your coins, creates your catalogs, and promotes your postings (you can sit back, relax, and watch the money roll in)
  • Seller’s fees 10% or less
  • Want list feature — if you consign a coin that a bidder member adds to their want list, you are notified automatically

Stacks Bowers

Stacks Bowers coin auction has the tenure to back up their reputation. After all, they are the oldest coin auction house in the game, with more than 83 years of coin auction house experience under their belt. They have sold all but one of the seven most valuable coin collections in the history of online auction houses.

To top it all off, their user-friendly website and app make it easier than ever to buy and sell coins.

Here are a few benefits of working with Stacks Bowers coin auction:

  • Dedicated support team available to answer any questions you might have along the way (perfect for new coin consignors)
  • Single coin or entire collection listing options are available
  • Sell remotely from anywhere (even your living room)
  • Coin auction archives where you can see the realized price of past coin consignments
  • Secure cash advances ranging anywhere from $5,000 to $50,000 to qualified consignors

Goldberg Coins and Collectibles

Goldberg Coins and Collectibles is another popular option among coin collectors to buy and sell coins. Their stellar customer satisfaction ratings and lowest-cost cash advances in the industry make their firm an attractive choice for coin consignors.

Unlike with other firms, Goldberg Coins and Collectibles allows you to work directly with principals — no middlemen involved.

Despite their small size in comparison with competitors, this firm still packs a powerful punch in the online coin auction industry:

  • Fewer auctions yearly, which allows for more personal attention to each consignment
  • Every coin consignment is insured from the moment it’s received (accidents happen)
  • Featured coins and coin collections featured in full-color brochures and email advertisements to an impressive mailing list
  • Lowest commission rates in the business (keep more of your money)

Penny Pinchers Auctions

Penny Pinchers Auctions specialize in internet-only coin auctions for the masses. For just a $5 listing fee per item, you can generate some quick income in a flash. This auction house accepts all U.S., world, and ancient coins, and no two identical coins are posted in the same auction, which means less competition.

Penny Pinchers Auctions adds a special personal touch with two in-person locations that have been open to the public since 2007.

Need to hear more? Read on for a few things that current Penny Pinchers Auctions coin consignors love.

  • No seller fees
  • Run by fellow hobbyists, not wealthy businessmen (talk about relatable)
  • User-friendly website
  • Friendly, knowledgeable staff

Spink

Spink coin auction house has been in the coin business since 1666, so they know a few things about coin auctions. Their extensive history in the industry means that they have close contacts with international specialist buyers that will give you the most for your coin consignments.

This boutique-sized firm values in-person consultations. When you choose to consign with them, you are assigned a personal Spink representative who walks you through the process from start to finish.

Keep reading for a few more things that set Spink apart from the competition.

  • Online, phone, and agent bids accepted, which leads to more offers for your stuff
  • Free verbal valuations on all coin consignments (who doesn’t like free stuff?)
  • Free pre-sale viewings are open to the public

Your Online Store

If you’re looking for the easiest way to sell coins online, look no further than Ecwid. The best part about this platform? Flexibility. Create a website in a few simple clicks and sell anywhere with our ecommerce widget.

Already have a website? No problem! Skip the coding and complicated software installation and use our customizable design tools to build your perfect online store. Then, add your online site to any existing website or generate a link to share across all your social media channels.

You can use Ecwid for an eBay coin auction, a Facebook campaign, or even on your blog!

Get excited, because we’re not done yet. Here are a few more reasons why Ecwid is the best option to sell coins online:

  • Ridiculously easy website and app experience
  • Free account (it’s free forever)
  • 200k+ merchants across 175 countries in 60 languages
  • Free educational resources that make learning ecommerce a breeze
  • Automated inventory tracking and order syncing to eliminate manual errors

Sell Coins Online

Online coin auction houses have much to offer, but they aren’t right for everyone. If you’re looking for a simple solution that gives you more freedom to do what you want, build a personalized website. Ecwid helps coin fanatics turn their passion for coin collecting into money in the bank.

 

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About the author

Max has been working in the ecommerce industry for the last six years helping brands to establish and level-up content marketing and SEO. Despite that, he has experience with entrepreneurship. He is a fiction writer in his free time.

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