Where to Sell Coins | Coin Buyer – Las Vegas & Henderson, NV

Sell Coins

Coins have been a part of human history since ancient times. Without coins, our monetary system would not be the same as today. Coins are valued in different ways, such as their face value, numismatic value, or bullion value. Read below to learn about where to sell coins, how to sell coins, coin values, and coin buyers in this blog.

Brief History

Humans have been using coins as early as the 7th century BC. The earliest records of the use of coins were in the Iron Age Anatolia, most especially in the kingdom of Lydia. Early civilizations made these early using a naturally occurring alloy of gold and silver called electrum. They did not make the coins uniform in terms of weight and might have used them in rituals.

Early coins also do not have inscriptions or writings, only an image of an animal. Thus, making it difficult to date them. The only way to date these ancient coins is through archeological evidence that experts excavated from sites such as the Temple of Artemis at Ephesus—the earliest known side of electrum coins.

Private citizens sanctioned a lot of early Greek and Lydian coins. Thus, the coins are more likely to be tokens or badges than coins for trade. However, since there were so many of them, it is most likely that the government was responsible for issuing them. The earliest engraved coins were from 625 to 600 BC from Ephesus in Ionia bearing the words “I am the badge/sign/mark of Phanes/light” or just “of Phanes.” When you sell coins, we recommend understanding some of its histories to give your cion buyers the impression that you know what you are doing.

Later Coins

King Croesus of Lydia issued the first true gold coins from 585 until 546 BC and called it the Croeseid. Historians credited the king for the first gold coins that had standardized purity for general use. He was also credited for the world’s first bimetallic monetary system in 550 BC.

Coins quickly spread across civilizations in the 6th and 5th centuries BC. As a result, different coin systems were developed, such as the Greek coinage, Achaemenid coinage, and Illyrian coinage.

Throughout the Roman Empire, its government used standardized Roman currency—which utilized diverse coinage such as gold, silver, bronze, copper, and orichalcum. Citizens still used significant gold and silver coins such as Aureus, Denarius, gold dinar, and Solidus until the Middle Ages.

Numerous types of coins emerged throughout history and were used in many different ways. Today, coins are still very much a significant part of our lives. We use coins in various ways and are important in keeping the worldwide economy alive. More than that, you can even earn a good amount of cash if you sell coins to a coin buyer.

Types of Coins You Can Sell

Coins come in many shapes and forms and come in different face values. However, some coins are more valuable than others. If you plan on selling your coin collection, knowing what type of coin you have is good. Below are the two types of coins that exist today.

Currency

Currency is the most common type of coin we see today. It is fiat money or money that has nothing to do with commodities such as gold and silver. Various governing bodies typically mandate them to be legal tender—money that citizens can use to pay debt and taxes.

Bullion

On the other hand, bullion coins are coins that are made from precious metals such as gold, silver, and platinum. Bullion coins are not used as fiat money, and rather they are used as a form of investment or store of value. They are also differentiated by the weight and purity of their precious metal content rather than their face value or legal tender value.

Coin Value

If you plan on selling your coin collection, the best way to know their value is to have them evaluated by coin experts. Your coin collection will be sorted into two categories, currency, and bullion. Coins that are considered currency or fiat money will be valued based on their face value and collectability.

On the other hand, bullion coins are evaluated based on the spot price of their precious metal content (gold, silver, or platinum), condition, year, and mintmark. Therefore, bullion coins also give importance to the weight of the coin as it is relative to the spot price of its precious metal content.

How to Sell Coins

Selling coins is quite easy. And the easiest way to sell them is to bring them to a local coin store like Nevada Coin Mart. Nevada Coin Mart can help you sort your coin collection and thoroughly evaluate them, so you get the best offers. However, if you just want a rough estimate of how much you can sell your coins for, you can opt for an online evaluation. Just click here.