Is It A Good Idea To Sell Rare Coins At A Pawn Shop?

Are you looking to sell rare coins? Good news… Most pawn shops are not only happy to buy or loan on rare coins but will give you a great value on them as well.

You see, pawn shops do a lot of business with precious metals. Most pawnbrokers check the scrape value of metals everyday and some check throughout the day as well.

So when you bring your rare coin into the pawn shop, they can immediately identify it’s metal value right from the start.

On top of it, every shop I know of carries a ‘price guide’ for coins in case your coin is especially valuable.

But the best advantage to dealing with a pawn shop when it comes to coins that are really rare and valuable is that you can get them back as soon as your repay your loan. That way, you don’t have to sell anything that you really want to hand on to for the long term!

You See, It’s Not Just About Metal Scrap

When it comes to coins, sometimes a ‘goof up’ or ‘special minting’ can make the coin particularly valuable.

Or if very few of that coin were made, it can have significant collector value as well.

Pawn shops are typically well aware of those markets and are happy to help you with coins without any kind of problem.

But Check First

coincollectorIt is important that you call your local pawn shop and make sure that they are comfortable dealing with old and rare coins. Not every pawn shop is prepared to invest in a coin for much more than it’s raw metal value.

The reason for that is pretty understandable really.

The general public has gotten use to the concept that pawn shops can ‘call an expert’ and get something expertly appraised. Unfortunately it’s not that easy.

Most pawn shops still have to look it up the old fashion way – and have someone on staff that is a collector themselves and is very familiar with the market.

Well – not every pawn shop can hire people that are collectors, or don’t want to take a risk misunderstanding a price guide. So not all pawn shops specialize in coins.

A Lot Of Pawn Shops Are Great Place To Sell Rare Coins

I’ve seen a lot of great deals made on coins, both buying and selling in a pawn shop.

If you know what you are looking for – or you have an idea what you are selling then I would definitely recommend calling your pawn shop and seeing if they are interested in what you’ve got or are looking for.

Before You Sell Your Rare Coins…

A coin is like anything else – the better condition it’s in the more it may be worth.

Collectors want their collections to look impressive. They aren’t really interested in displaying a case full of marked up coins. Because of that, it’s important to take care of your rare coin until you are ready to take it into the pawn shop.

Even better – think about having it graded. It can really help the pawnbroker identify the value of your coin so that you can get the best offer for it.

Thanks so much,

The Head Nerd