February 17, 2020 - Antiques, Art and Collectibles
Think of all the times you emptied your pocket change out into the cup on your nightstand without taking the time to look at each one.
If you’re someone who knows the value of coins, you’ve probably been examining them for quite some time. If you’ve never collected coins, you might want to start soon. There’s a good chance that some valuable coins have passed through your hands, or that you already have a decent collection of them in your possession.
But where do you sell these coins when you have them? How much do pawn shops pay for coins? We’ve created a brief guide to pawning your coins.
Pawning your coins could be an excellent option for you if you’ve got the right materials. If you have a selection of lower-grade coins that are rare but not valued much on the internet, the pawn shop might pass on them.
That’s not a guarantee, though, and it’s always worth a shot. The first thing that you must do is understand the value of what you have.
Take a lot online and see if you can scrounge up any information on the coin you have. Rare coins are usually pretty well documented, so you shouldn’t have trouble finding a little information and a rough estimate of the value of yours.
If your research tells you that your coins aren’t worth too much, you may want to check a pawn shop and see if they would consider taking it. You might, however, have better luck at a different shop that sells rare coins. Those shops will be more likely to take the lower-priced coins.
If you find that the coins you have are worth a significant amount, the pawn shop you go to will likely take them off your hands. All you have to do is bring it in. If you have any sort of certification of authenticity, you should bring that as well. This will significantly up the price that you can get for the item.
If not, no worries. Let the pawnbroker do their thing and research the coin before giving you an offer.
A huge appeal to pawning something is the fact that you get your money almost immediately. There’s no wait, you don’t have to advertise, and you leave with cash in hand.
With that said, you may not always get what you would if you were to sell the item online. When thinking of this you should consider that it’s difficult to sell coins online, as there are larger vendors that take up a huge portion of the market.
There’s probably a wealth of stuff laying around the house that you could get money for. There’s no reason not to take it into a pawn shop to see what it’s worth.
If you’re interested in learning more about pawning and finding out how much do pawn shops pay for coins, we’ve got all the information you need.
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles