Readers Queries – Selling their Coins and Stamps

We have been receiving a large number of queries from our readers regarding selling of their collections (coins, currency and stamps). Most of them wish to sell their collections during Coins exhibitions and fairs.

We have few suggestions on this issue.

Social Media promotion – These exhibitions are promoted in Social Media wherein the prices of items are inflated to very high levels and hence a simple and amateur collector thinks that the price quoted are actual prices. Based on this you reach an exhibition which is a pure sellers marketplace where sellers are wanting to dispose of the items at prices of their choice adding all the overheads that they have incurred in coming there. These sellers are unlikely to buy any item at those costs. In short you are unlikely to get the prices you wish to. So what to do??

Choose Dealers /sellers from you buy regularly – Based on themes or interests please select Dealers or sellers who offer you items at reasonable prices (prices which are 30-50% below quotes on net/websites/catalogues). Ask them for some unique items and in case they are able to procure for you at good prices you can conclude that he is a good dealer to build your collection. Once this relationship is built he will be able to help you dispose off your spare and unwanted collections at good prices.

Fairs and Exhibitions – These places should be used to carry on more research than bulling to ascertain market rates and items which are saleable . identify 4-5 local dealers . contact them after the exhibition to buy and sell items as during off fair times the rates they offer would be closer to genuine rates.

Small quantities and common items – A few coins which are common , minted by all mints of India would hardly fetch you more than 2 or 3 times its face value. The mints in our part of the world hardly disclose minted quantities of coins (both commemorative and circulation variety) hence the rarity aspect is a big challenge and hence the pricing which also depends on conditions. So look out for coins minted by only few mints or by one mint only, also look out for coins which are minted two types of composition ( stainless steel or cupro nickel , or various types of Silver varieties – Quartenary alloy -50% silver , .80 % silver , .999 silver) . All these will have different prices and market value. The lesser the minted quantity the more are chances of getting higher prices.

Errors and Varieties – Apart from low minted quantities look out for varieties and errors -both can fetch very high prices a multiple times face value (examples are Netaji coin with 1996 year and Tilakji coins) Netaji actual release was 1997 but some with 1996 are in the market. Similarly Tilakji was a varierty and is found in the market the normal variety has Tilak only .

Currencies – In some years the RBI Governors/ Finance Secretaries change and hence chances are there that currencies with their signatures would be limited so look out for such notes. India does not have any commemorative issues in recent times but currencies across the world with Themes , Personalities , Sporting Events , would be fetching good prices ( Currencies and Coins on Olympics, World Cup Football , Rugby etc). Monarchy changes will result in changes in currencies having their insignia or Monarch heads -so look out for such currencies. Errors will also fetch good values – Malawi change in School name in a Kwacha series notes, Currency having language or spelling mistakes are also known to exist.

Hence in case you have in your possession a few items which are common ( Vintage , Metal composition normal , rarity )- please dispose them at the best prices offered at 5-6X of face value rather than waiting for a windfall.

Do send in your views ?? Though we do not evaluate or do any commercial activity on these aspects but can offer any advice on specific issues.