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Common Mistakes Made When Selling Coins

Posted on June 30th, 2017 by JoeG

Selling Coins Chicago

When a coin buyer in Chicago is looking at your coin collection, they will be looking for distinct characteristics. If you are a new coin collector starting the selling process, here are a few common mistakes that coin buyers in Chicago suggest you keep in mind:

Do Not Clean the Coins!

People misunderstand and make the mistake that the cleaner something is the more valuable it is. This, however, does not apply to selling coins. Even if you have experience in selling coins, you have likely made this mistake. Experienced coin experts say do not clean the coin at all! Don’t reach for the silver cleaner & put away the vinegar and baking soda, and bring in the coin in its natural, aged patina state. Cleaning a coin can cut its value by 80% or more and damage its value.

Jewelry Coins:

Coins set in bracelets, rings and pendants as Jewelry Coins can appear beautiful & decorative jewelry by it’s owners and creative artists, but if you are trying to get the most value for your coin from a coin buyer in Chicago, it is best you understand these coins will be only be worth the gold value in most cases. Although you may believe your handcrafted-coin jewelry is more valuable than the coin itself, this will unlikely be the case. Again, coin buyers in Chicago are more interested in the natural state of the coin.

Do Not Alter the Coins in Any Way:

Unfortunately, people sometimes chemically clean and alter their coins to make them appear in better condition and higher in value. If you attempt to alter your coin in this way, it will essentially ruin and depreciate it’s collectible numismatic value, thus making it in most cases worth only the precious metal value rather than it’s rarity numismatic value. Be sure your own coins are left in the original condition, and be wary when you are also buying coins from telemarketing or TV infomercial companies and websites that could leave you with a worthless collection.

If you have any questions or concerns about selling your coins, you’re invited to contact Chicago Gold Gallery to consult with a coin buyer in Chicago that is a knowledgeable numismatist in the industry, helpful, and passionate about coins and other precious metals.


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Date: 10/27/2017 • 5 / 5 stars ★★★★★

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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.

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Date: 08/02/2015 • 5 / 5 stars ★★★★★

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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 ★★★★★

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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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