Why & How To Sell Your Coins To An Arizona Pawn Shop
Do you have an old coin collection in your attic that has been gathering dust because you don’t know what to do with it? Or do you consider yourself a dedicated and careful collector eager to enjoy the fruits of your years of effort? Whatever your circumstances, selling valuable coins to a pawn shop is a great way to turn them into cash.
While you can find a trusted pawn shop in Arizona to offer your collection of coins, you should first understand why and how to sell them. You must have a demand for your product for someone to purchase it from you. Are there any potential buyers for your collection of coins?
If so, how much can you expect to receive from it, and how is the cost set? Find out by reading on.
The Purpose Of Coin Collecting
We must first understand what motivates people to start collecting coins to estimate a coin’s value. We must go back to the beginnings of coin collection to comprehend this process and the many methods and reasons to obtain those flat, glossy, round objects.
To Make Investments
On the surface, coin collecting appears to be solely for investment motives. Coins are extremely valuable since they are often made of precious metals like gold, silver, and even platinum.
Additionally, they are simple for these investors to carry around or store for later use because of their practical size and shape. Manufacturers often produce Bullion coins for this reason. They design these coins so people could purchase them and hold them as investments rather than circulating pieces for regular commerce.
This is a good reason to sell old coins at a pawn shop in Maricopa.
Simply For Fun
Some people collect coins as a hobby rather than as an investment. There are numerous approaches to collecting, just as several themes to investigate.
A severe coin collector can try to track down every state coin that has been distributed in the United States or search for foreign coins. Some coin collectors may even specialize in “error” coins, which are rare because manufacturers printed them incorrectly.
What Characterizes A Coin?
A coin is just a coin to the average person. But those who are familiar with the intricate details of a coin’s design are aware that there are other elements that consumers frequently ignore.
There’s a whole dictionary of names to describe these aspects because each coin has so much going on. To correctly and effectively assess the real value of your coin collection, pawnbrokers are supposed to have a thorough understanding of the many components of a coin.
A Coin’s Anatomy
We’ll start with the faces of a usual coin. Although most people will refer to faces as heads or tails, the correct terms are, in fact, obverse and reverse. Additionally, there are additional coin features, such as:
- Mint Mark
Your Glendale pawn shop may give you a coin’s value based on their analysis, and this analysis is usually based on the aspects listed before.
Moreover, experts can break down each trait further. The mint mark, for example, can inform you where the currency came from and it shows as a single letter on the obverse. In the United States, “P” can represent Philadelphia, “S” can represent San Francisco, and so on.
Another example is the rim, which can be smooth, lettered, patterned, or reeded. As you may think, a single coin can have countless combinations of diverse qualities to produce something wholly original and different from other currencies.
Different Coin Finishes
As if that wasn’t enough, coins can have a variety of finishes. Circulating coins are designed for normal use. In other words, they work as cash in everyday transactions, meaning they are the most frequent.
Uncirculated coins have a more distinct appearance and are intended to be collected. Proof coins are even rarer due to their mirrored faces and frosted elements.
Here’s a brief explanation of different types of coins:
- Circulating: Used for regular commerce.
- Uncirculated: Created for collections.
- Proof: Created to test the make of a coin before mass production.
How To Sell Your Coins To An Arizona Pawn Shop
A pawnbroker must detect the many qualities of a coin and appraise its condition.
We have the Sheldon Scale for this, which provides a broad and detailed scoring system for coins of all makes. Simply put, it employs a scale of 1 to 70, with 70 as faultless. The whole range between 60 and 70 is regarded as a Mint State coin and its value is significantly higher than anything else below it.
On the contrary, a score of 1-3 is so barely visible that it is completely useless. Additionally, a coin’s condition could be so bad that no grade can be assigned to it.
When you bring your coin collection to a pawn shop, they have a lot of work to do. To determine specifics like the coin’s origin and collection, they will need to use the coin’s anatomy.
By identifying the precise material(s), weighing it, and comparing the results with recent market values, they’ll also need to determine the coins’ actual value as a precious metal. Of course, they will also need to choose the appropriate rank based on the coin’s condition.
A High-Rated Arizona Pawn Shop For Your Collection!
Do you want to sell your coin collection to a reputable pawn shop in Arizona? The Pawn Experts employs only the best in the industry! Their specialists can offer you the most accurate quote for your coins and will gladly buy them from you so you may take advantage of your hard-earned money! Call us now for more information!