Hobbies have been a form of self entertainment since the beginning of time. Whether it is in creating a piece of art through a certain craft such as drawing, painting, sewing, cross-stitching, whittling, or writing, or whether it is in playing in a specific sport or group of sports such as golfing, bowling, cycling, skiing, or swimming, the vast array of individual interests available to pursue as a hobby are virtually limitless. Most hobbies are pursued for the shear personal enjoyment they bring to their followers. There is no monetary value sought after in pursing the hobby. However, for some, the enjoyment of the hobby lies in the amount of personal monetary gain they can obtain from their interests. Coin collecting and coin selling is, perhaps, one of the most oldest, as well as widely sought after, hobbies pursued in almost all countries of the world in order to make a monetary gain.

Most coin collectors start off very simply with finding loose change that interests them. The coin, or coins are stored away in hopes that they might be valuable or, at the least, more rare than other coins in circulation. Sometimes it’s just the look of the coin that caught one’s attention or its feel or design. However, as one’s interest begins to increase, their desire to find more coins escalates. If this is where you find yourself today and you wish to not only locate coins but sell them, then there are a few things you will need to learn in order to become a more seasoned expert coin dealer because not all coins, though they may look alike and come from the same time period, are worth the same.

Selling Gold Coins as a Hobby

To begin with, a coin collector is generally referred to as a numismatic, a Greek term meaning currency. Second, you need to find a niche in the coin collecting/selling industry to pursue, i.e., do you want to collect ancient Roman coins, coins from specific dates, coins from specific regions of the world, subject coins that depict certain people, places, or things, or coins made of certain compositions such as copper, silver, platinum or gold. As soon as you narrow down your niche, then you will need to find out as much as you can about the niche. For now, let’s assume that you would like to sell gold coins. Good choice!

Gold coins were the favored of all coins back to the time of the Egyptian Pharaohs. These coins were rarely used as a form of money but were rather a form of a gift and only the wealthiest received these precious gifts. It wasn’t until around mid 500 BC that gold coins began to be used as a form of money and continued to be used as such until the Great Depression of the 1920’s. In 1933, the United States government made it illegal for private citizen to own gold coins. Those who had gold coins in their possession were required to turn them into the government where they were then melted down. Because of this, the value of those coins that survived the meltdown are, today, extremely valuable. A turnaround in the gold coin collection occurred in late 1974 when Congress removed the ban buy sell gold coin and their ownership. Since then, as the price of gold has increased in value, the drive to obtain coins of gold has become greatly sought after.

Where to Sell Gold Coins

As a gold coin seller, it will be important for you to have your coins inspected by a couple of coin dealers in order to get their best estimate of the coin’s total worth, as well as to authenticate the coins themselves. The next step in your selling process is the coin’s presentation. Though there are a number of ways to display your coins, perhaps the best way to present your coin is to house them in a basic 2x2 cardboard holder. These holders come in two forms. One has a clear plastic cover that allows the viewer to see the top portion of the coin. The second holder has a plastic cover on both the front, as well as the back, and allows the viewer full vantage of the entire coin. The holder is essential in protecting the coin, keeping it from human wear and tear, being accessible to oils and various other chemicals that can destroy its value, and shows the coin enthusiast interested in possibly purchasing the coin, that the coin has been well cared for.

How to Sell Gold Coins

Selling your collection on the internet through various auction houses, such as Ebay, or directly to other dealers, is a great way to get exposure. By keeping an internet presence, your customer base will expand to global proportions. At all costs, avoid selling your collection at flea markets or malls. The true collector will most likely not look for authentic and valuable coins at these venues and the buyers at these locations will most likely not be willing to pay a high price. Lastly, remember to enjoy your hobby. Your enjoyment can be infectious to your customers allowing for a long, lasting and rewarding enterprise. And to think, this whole new adventure of yours started from that one simple coin that caught your attention.