Selling Coins Online
Selling Coins Online
Collecting Coins is both a very popular hobby and a major industry. It is one of the few hobbies that is actually an investment. Recently speculation on precious metals changed the dynamics of the marketplace, but that has adjusted now and we are back to a new normal, with steady pricing and availability.
As with many other industries, the internet has changed the landscape. Online selling allows for buyers to see actual coins where with mail order they had no choice but to trust the coin dealer. Coin shows are still strong, but when a buyer is looking for a particular coin in a specific grade, nothing beats the searchability of the internet to find exactly what they are looking for.
The beauty of the internet is that anyone can sell their coins online. Collectors can sell off their extras, hobby shops can expand their customer base, and show dealers can have a viable online business to complement their in person retail sales.
eBay is the most likely selling channel to get started with. Anyone with an eBay account can list a few things for sale pretty easily. Amazon is an emerging marketplace for selling coins online, but they have requirements that exclude the casual seller. Making a website for yourself is absolutely a great option, but the hard part is getting traffic to your website, so a website of your own is likely just a part of your online presence.
To be successful, remember these important points.
· Accurately describe what you are selling and provide high quality images using a digital microscope like Dino Lite or something along that line. The microscopes will show the detail educated buyers need to make their decisions to purchase.
· It doesn’t matter what you list for sale. The oddball items will sell, as well as common mid-grade coins. There is a buyer for anything that is priced right and described correctly.
· Keep your shipping costs reasonable, and ship quickly after payment.
· Learn when an auction is the best way to sell, or if offers and straight sell pricing is the way to go. Auctions are a risk if there is not a large pool of buyers, but for something rare or popular may be the way to go.
· As you grow time will become an issue, and the more you can list and sell, as well as the more places you can sell it becomes important. Use an online program like the GLE Tech Control Panel which is geared to listing and selling coins s to be more efficient.