Coin collecting doesn’t have to be expensive. There are many ways to find coins for sale at discounted prices. You need to know where to look or talk with the dealer to get the best discount for your coins.
Discounted Coins For Sale
Believe it or not, there are discounted coins for sale in the market. We are looking for coins valued less than a book value or on a particular grade. These are some of the discounted coins for sale available in the market:
Junk Silver
The term “junk silver coin” refers to any silver coin in good or bad condition and has no more than the bullion value of the silver it contains. People who wish to invest in silver, particularly small amounts, are drawn to these coins. The term “junk” refers only to the collectible value of the coins, not their condition; junk silver is not always a form of scrap metal.
Cull Coins
If a coin is in poor condition, it may be designated a cull. This category is used primarily for several problems, from cosmetic faults to structural flaws. Cull coins’ most commonly encountered defects are scratches, holes, pits, and bends. Extreme retooling, dark toning, and poorly performed repairs are all typical.
Scratch & Dent Coins
Scratch and Dent coins are coins that have been damaged in some way. This could be anything from a small scratch to a significant dent. These coins are usually sold at a discount because of the damage.
Commons Coins
Check out with your coin dealer if he has a box of coins, usually called commons. Commons are not rare or valuable coins, but they can still be fun to collect. Some dealers have a different name for this box of coins, so don’t be afraid to ask. These coins are usually less expensive than rarer coins, so they’re a great way to start your collection or add to it without breaking the bank. Examples of common coins:
- Indian Cents
- Lincoln Wheat Cents
- Buffalo Nickels
- Jefferson Nickels
Cleaned Coins
Cleaning coins has been practiced since ancient times, but in the mid-1980s, certified grading took hold. Cleaning coins began to decrease in popularity after certified grading was established in the mid-1980s. Most coin experts have condemned cleaning coins since it may reduce their grade and value.
Periodic Discounted Coins
- Sale Period – Some coins are discounted at certain times of the year. For example, many dealers offer discounts on coins that are not selling well. Therefore, this is a great time to buy coins because you can get them at a lower price.
- Pay in Cash – You can also find periodic discounts in other ways. For example, some dealers offer discounts to customers who pay cash instead of using a credit card.
- Buy in Bulk – Discounts are also offered to customers who buy in bulk or make a large purchase.
Coins That Are Not Selling
A coin dealer will sometimes offer a discount on a coin that isn’t selling. This could be a problem-free coin they’ve had for months or even years, and they’re just looking to get rid of it to make some fast money.
This is a bit tricky to find, but I usually ask the dealer if he has any coins that are not selling that he is trying to get rid of.
Negotiation Tactics To Get Discounted Coins For Sales
Once you have located some coins you are interested in purchasing, it is time to negotiate. Here are some tips to help you get the best discount possible:
Always Ask For A Discount
My motto in life is if you don’t ask it, you don’t get it. When I’m in a taxi, I will ask for a discount on the fare. I also ask for a discount when I buy something from Mcdonald’s. The same goes for coins. I always ask for a discount on coins, and I usually get one. But, again, the key is to be polite and not be too pushy.
Have A Good Professional Relationship With Your Local Dealer
I have been going to the same coin dealer for years, and he always offers me a discount when I buy coins from him. The key is to be a regular customer and build a rapport with the dealer. Then, it doesn’t hurt to ask him about his family or how his son is doing in college.
Silence is Golden
One of the best negotiation tactics I used to get coins for sale at a discounted price was to shut up and let the dealer do the talking. I usually do this in these steps:
- Start the conversation and build rapport.
- Ask for the price of a coin
- Silence
- Make it as awkward as possible for the dealer but maintain a poker face
- Don’t say anything until the dealer starts the conversation again
Usually, the next thing the dealer will say is: “We have a 10% discount today for this coin.” That moment of silence is a pressure to make him offer a discount to you. This is not just applicable to this situation; you can use this in every negotiation situation.
Be Prepared To Walk Away
There will be times when you can’t get a discount on the coins you want. In this case, you must be prepared to leave the deal.
Before you go…
The key is not to let emotions come into play. Pay the full price if you want the coin, and the dealer won’t budge. But if you’re not desperate for the coin, then walk away and look for a better deal. Do you have any tips on how to get coins for sale at discounted prices? Let us know in the comments below! Happy collecting!
Check out my next article: “How to Find Coin Collection for Sale – The Ultimate Guide.”
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