World of Numismatics

Let's get into the world of Numismatics today.

Do you sort out your coins by the date before and look at the different denominations? Do you wonder if they have a story to tell? Have you ever looked into your box of loose change and try finding new shiny ones? Have you looked into their design in detail and wonder what story does the print tell? If you have, you have already shown interest in coin collecting. You are on the start of your journey to the most amazing valuable hobby!

Coin collectors takes pride in owning their coins. This hobby allows you to learn organization, classification, preservation, authentication and
verification skills unconciously.

Selling Your Coins

First, you have to decide whether to sell the coins yourself or get professionals to sell them for you. If you sell them yourself, you got to prepare by grading your coins properly, price them at a fair amount, find coin dealers or auction in ebay, and record your sales.

If you want to get professionals to sell your coins, you can sell them directly to a dealer, on consignment, or at a public auction. You have find out what is the commission rate to the dealer, know how to set a price, and choose a dealer. If you decide to go for auction, you have to cleverly pick an auction house, expect the fees you should be paying and should not be paying. All these will be discussed later.

Coin selling is taxable. Selling anything in the States is taxable. You need to know how to minimize tax and don't let the IRS fine you. We will discuss that on my later blog entries.