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4 Frequently Asked Questions when Selling Coins

Posted on January 16th, 2020 by JoeG

If you’ve never done it before—or even if you have—the process of selling coins in Chicago may be a bit confusing. Fortunately, it doesn’t have to be, especially if you’ve found yourself on this page.
In the following few sections, we’re going to answer five of the most frequently asked questions we hear when people decide to sell coins in Chicago.

What’s the value of my coin based on?

The value of your coin will depend on its date, mintmark & condition, rarity ( coins with low mintages are rarer than coins that have a high production mintage), or in the case of some gold and silver coins the value of their intrinsic precious metal content. For example, if you have a coin that has a low mintage date and scarce mintmark, it will have value for coin collectors ( numismatic value). Similarly, if you have a gold or silver coin with a common date, mintmark and high mintages they will normally be valued based on the price of gold and silver the day.

How do you know if my coins are counterfeit?

It’s frustrating when you think you have a valuable coin only to find out that it’s a fake. Experienced professionals know that there are coins that are fakes and know the procedures to determine authenticity ( many fakes of U.S. coins were also produced in other countries outside the United States) and counterfeits have been around since the 1800’s and earlier. An experienced coin buyer in Chicago can tell which are real and they know which types of coins are likely to be counterfeited. ( usually rare and key date coins like: 1916 D Dime, 1914 D penny, 1893 S Silver Dollar , 1932 D & 1932 S Quarters to name a few.

How can I learn more about selling coins in Chicago?

When you’re looking to sell coins in Chicago you can depend on Chicago Gold Gallery to explain these factors during the process while evaluating your coin collection. Keep in mind the books, magazines and even internet sites generally show the retail hobbyist values that in most cases in most cases the actual market values. Do not clean your coins no matter how they look! In most cases patina enhances the coins value and if you clean them you can & will decrease their value.

Where Can I Sell Coins in Chicago?

You can sell coins in Chicago to Chicago Gold Gallery. Give us a call at (773)338-7787 or come for a visit.

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Customer Testimonial

Had a Great Experience

"I drove all the way from the south side just to sell my silver to Chicago Gold Gallery because of the knowledge and professionalism I received on the phone. They gave me top dollar for my silver and were so fast and friendly. I definitely recommend this business!"

Date: 10/27/2017 • 5 / 5 stars ★★★★★

Can't say enough about this place.

This is the most welcoming, non-pretentious place to do business! I was researching where to sell sterling silver I had and ended up choosing here based on the other great reviews. They walked me through the whole process and answered my questions. I got a great price for my items & will go there again.

Date: 09/17/2018 • 5 / 5 stars ★★★★★

Love this place!

Chrissy & Joe are all super friendly and easy to work with. I trust them and they will do whatever they can to help you including giving you advice on what you have or what you should look for. I won't ever go anywhere else and I've recommended it to several friends.

Date: 08/02/2015 • 5 / 5 stars ★★★★★

I would do business with them again

I had a large collection of silver coins sitting in my safe deposit box for 15+ years. Chrissy was so friendly and helpful she even gave me advice about coins I didn't know. She was more than happy to help me for over an hour in between taking care of other customers. They really did give me top dollar for my coins. Whether you are new or a pro with coins, I can highly recommend you take them here!

Date: 02/22/2020 • 5 / 5 stars ★★★★★

Don't Hesitate to call...

I find that Joe at Chicago Gold Gallery consistently offers and pays more for my coins than coin dealers in Chicagoland. He's very nice and easy to deal with. Don't hesitate to call him and preferably visit him.

Date: 12/04/2015 • 5 / 5 stars ★★★★★

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