What types of coins do you buy?

Selling a rare coin or an entire collection can be daunting. The thought of parting with a valued coin collection often leads to hesitation. With countless online options, identifying a trustworthy rare coin appraiser in Chicago who can provide accurate advice and evaluation can feel overwhelming. 

Understanding your collection and maximizing its value is essential to minimizing stress. Explore the information below to jumpstart your coin collection journey and secure the best possible evaluation.

Americash Coin & Jewelry Buyers, Inc. is always buying coins and currency. We purchase the following US coins:

• All US Gold coins
• Rare US Silver Coins
• Dollars: 1935 and earlier
• Morgan and Peace Dollars
• Halves: 1970 and earlier
• Quarters: 1964 and earlier
• Palladium Coins
• Dimes: 1964 and earlier
• Nickels: 1938 and earlier also 1942- 1945
• Cents: 1958 and earlier
• All US Mint issued proof and mint sets and singles from the current year and earlier
• US Gold and Silver American Eagle singles and sets

What type of paper currency do you buy?

We purchase:

• High denomination notes: $500, $1,000, $5,000 and $10,000
• All US silver certificates 1957 and earlier
• All US notes with a red or blue seal
• All US currency from 1929 and older
• Old US currency with bank names on the note
• Large size US currency from 1923 and earlier
• US fractional currency 1862 – 1876
• We specialize in the purchase of small and large size US gold certificates

How Do You Start a Rare Coin Collection?

To begin your collection, gather the coins you already have and learn some basic terms. You can collect by country, period, design, or mint mark. The U.S. Mint’s yearly productions, such as uncirculated or proof sets, make building your assortment of coins super easy. Look out for error coins with die, planchet, and strike issues; they are often considered collectible. Coin collecting is a classic hobby that’s both enjoyable and potentially profitable, so dive in and have fun.

How Do You Build Your Rare Coin Collection?

To assemble your rare coin collection, start by hunting for new coins and making purchases. Focus on the coin’s appearance, avoiding damage such as scratches or corrosion. Coins in excellent condition are worth significantly more than those of lower quality.

You can purchase coins from other collectors or at banks, coin clubs, flea markets, and auctions. Be smart with prices and check return policies to avoid overpaying. 

How Should You Handle and Care for Your Rare Coin Collection?

Proper care and handling are crucial for maintaining the value of your rare coin collection. To avoid dropping coins, hold them between your thumb and forefinger over a soft towel. Remember, polishing them could remove their natural color, so just don’t do it. If a coin needs cleaning, use mild soap and water, then gently pat it dry with a smooth cloth. 

 To keep your coins in top shape:

• Store them in cool, dry places to avoid discoloration.
• Use original cases or acid-free holders to keep them safe.
• Go for hard plastic holders for high-value coins.
• Cover them on your home insurance and keep the certificates of authenticity secure in a safe deposit box.

What Is Grading and How Does It Help?

Maintaining the condition of your coin collection is key to preserving its value. In 1949, Dr. Sheldon created the Sheldon grading scale to estimate the value of collectible coins. The grading system usually ranges from one to 70, with one being the worst and 70 representing the highest score possible. 

A coin’s grade depends on factors such as the strength of its strike, level of wear, presence of contact marks, and overall eye appeal. Grading companies seal your coins in holders with a grade label to help protect their value. Remember, the better the condition, the higher the value of your coins.

What Is Your Collection Type?

Before evaluating your coin collection, it’s essential to determine its type. Usually, there are four categories to consider.

• A true collector’s collection of rare coins you’ve invested time and money in.
• A hoard collection of several coins you’ve bought without a specific plan or purpose, including various old silver or well-worn ones.
• Mint product collections from the U.S. Mint, where you own program coins, proof sets, and commemorative coins.
• Late-night TV coin collections, often featuring fancy Franklin Mint coins or framed sets. 

What Are the Spreads and Profit Margins Involved?

The spreads and profit margins can vary significantly when you sell your rare coins, as offers from various places may differ. You’re unlikely to get the best price for a rare coin at a flea market, but you’ll likely find it from a reputable national dealer. The crucial factor is their customer base. Large dealers have interested buyers willing to pay top dollar. 

A coin’s value does not guarantee that you will receive that sum. It’s advisable to show your coin to several dealers to receive different offers, but exercise caution as some may attempt to deceive you.

How Does an Inventory Help With Better Offers?

Having a detailed list of your coin collection can be a game-changer. It significantly boosts your chances of getting better offers when selling your coin collection. Instead of sending photos, make a list in Word or Excel with each coin’s year, mintmark, and denomination. It makes it much easier for dealers to spot the rare coins and give you a great deal. Plus, having an organized inventory shows buyers that you know your stuff, so they’re less likely to make lowball offers. Keeping an inventory helps you get the best price for your collection.

How Do You Approach Multiple Dealers?

You can reach out to reputable traders and show them your inventory. Inform them that you’re seeking a couple of valuations and ask for their quotes politely and honestly. Avoid lying about offers or playing dealers against each other. When dealing with valuable collections, seek multiple bids for the best price. However, it’s important to be fair and honest throughout the process.

Get the Best Price for Your Rare Coin Collection

As Chicago’s most trusted and certified coin dealer, we provide expert services for buying, selling, and appraising coins. We evaluate coins based on current market value and offer immediate cash for all coin types and collections. Our expertise covers coin collections, gold and silver coins, rare coins, U.S. coins, and proof sets. Contact us today to ensure your rare coin collection fetches the top dollar it deserves.