Oakton Coins & Collectibles is one of the highest rated coin shops near Lake Bluff.

If you are considering selling your coins, you have come to the right place. Oakton Coins and Collectibles understands that selling a single coin or a whole coin collection can be an extremely daunting task. Whether you are a lifetime coin collector or have recently inherited a coin collection, when it comes time to sell your coins, you have many options. Oakton Coins & Collectibles can simplify the process. 

Understanding how to sell coins around Lake Bluff.

When it comes to selling coins, you need to take a lot of factors into account. For instance, your coins could simply be worth face value, or they could be worth a significant amount of money. People do not always collect only valuable coins; often, they collect low-value or face-value coins for other reasons. But no matter the size or value of your collection, we are here to help. 

Sometimes people sell their whole collection. Other times, they sell the valuable parts and split up the rest between siblings. Maybe you have a small collection without a lot of monetary value and someone young in your family would appreciate it. 

Often, people bring us their coins carefully arranged by date and decade, usually placed in separate Ziploc bags or paper envelopes/coin tubes. You might be tempted to do this, but it’s not worth the effort.

When we appraise a collection, the first thing we do is separate coins by their composition (e.g. copper, nickel, silver, or gold). If you must organize your collection, put it into these groups:

  • Gold coins 
  • 9o% silver dollars (1878 through 1935) 
  • 9o% silver dimes, quarters, and half dollars (1892 through 1964) 
  • 40% silver JFK half dollars (1965 through 1970) 
  • Lincoln Wheat Cents (1909 through 1958) 
  • Buffalo Nickels (1913 through 1938) 
  • Jefferson Nickels (1938 and later) 
  • All other obsolete U.S. type coins
  • U.S. Mint proof and uncirculated sets 
  • U.S. Mint commemorative sets 
  • Currency and paper money 
  • Foreign coins/tokens

Interesting coins are available for purchase in  every budget range, so ask yourself the following questions to help determine the value of the collection you want to sell:

Can you determine how much money the collector spent or how regularly the owner bought? Can you find any bills of sale, invoices, or canceled checks from dealers or auction firms? Do you have an insurance policy or a will with instructions?

This information may be helpful, but you can’t completely depend on any of it. The value of coins (and collectible paper money), like the value of anything else, is what a willing buyer will pay a willing seller. This amount is never a fixed figure, as the market fluctuates in varying degrees and at unpredictable rates.

Pricing your collection to sell around Lake Bluff.

Ninety-nine percent of the time, you will not receive the value listed in any of the pricing guides that you may reference when you sell coins. The guides are just that: a guide to help you establish the price range you can reasonably expect for a coin. Most consumer guides show extremely inflated values.

Some coin selling terms to keep in mind; Clickbait Pricing, Real-World Pricing, Melt Value Pricing, Numismatics Pricing.

Clickbait Pricing: Wikipedia defines “clickbait” as web content that is aimed at generating online advertising revenue, especially at the expense of quality or accuracy. This pricing relies on sensationalist headlines to attract click-throughs. Click-throughs refer to when the reader clicks a link to go through to the next stage of the bait. Clickbait makers love to post about how common coins could be worth big money, but in reality their claims are almost never valid. 

Real-World Pricing: This refers to actual money changing hands. This pricing reflects amounts that have actually been paid, not just advertised, so it’s true market value. Everything else is just a bunch of words and ideas about the worth. Any coin is only worth what someone will pay for it, and collectors usually focus on rarity and condition to determine monetary value.

Melt Value Pricing: Prior to 1965, the majority of United States coins contained either gold or silver (with a few exceptions). Any selling premium on top of the melt value comes from the Numismatic Value.

Numismatics: Numismatics is the study of coins, paper currency, and metals. Coin rarity and condition drive the prices that collectors will pay. Regardless of the metal composition of the coin, some coins have a very high numismatic value.

Places NOT to sell coins around Lake Bluff.

  • Jewelry Stores and Pawn Shops – They usually only understand the precious metal part of the gold/silver coins, and they pay only a small percentage of that price.
  • Ebay – Many coins are sold on EBay every day, But it can be very risky, time consuming, and costly. Click here for more information.

Sell coins near me – sell coins locally – Lake Bluff.

Oakton Coins is conveniently located right near 94 West (Kennedy) near downtown Skokie (very close to Chicago), and less than two blocks from the Oakton stop on the Yellow Line CTA (Skokie Swift). It is within minutes of downtown Chicago, Rogers Park, Evanston, Lincolnwood, Niles, Park Ridge, Deerfield, Morton Grove, Des Plaines, Glencoe, Highland Park, Glenview, NorthbrookElk Grove Village, Naperville, Northfield, Northbrook, Palatine, Arlington Heights, Barrington, Brookfield, Elmhurst, Franklin Park, Glencoe, Highland Park, Hoffman Estates, La Grange, Lake Bluff, Lake Forest, Lincolnshire, Lombard, Oak Brook, Oak Park, Prospect Heights, Wheaton, Wheeling, Winnetka, Portage Park, Forest Glen and Schaumburg.

Glossary of numismatic terms, D;

Impaired Proof – A grading term for a Proof coin that is graded less than Proof-60.

Incandescent Light – Direct light from a lamp, unlike indirect light such as that from a fluorescent bulb.

Incomplete Strike – The term for a coin that is missing design details due to a problem that occurred during the striking process. This can be due to insufficient striking pressure or improperly spaced dies.

Incuse Design – The design of a coin that has been impressed below the coin’s surface. This design was used on Indian Head quarter eagles and half eagles to deter counterfeiting and improve the coin’s durability during circulation.

Independent Coin Grading Company (ICG) – ICG is a third party grading service located in Tampa, FL.

Indian Cent – Another term for Indian Head cent.

Indian Chief Note – A common name for the $5 Series of 1899 Silver Certificates with Indian Chief Running Antelope on the face.

Indian Head Cent – A small cent designed by James Longacre and issued from 1859 until 1909.

Indian Head Eagle – A $10 gold coin designed by Saint-Gaudens that was issued by the United States from 1907 until 1933.

Indian Peace Medals – Medals, usually of silver but copper strikings were made also, including restrikes for collectors, intended to be presented to the chiefs of Native American tribes on behalf of the current president of the United States. This was to show friendship of the government (which, of course, was inconsistent) and also to encourage peace on the part of the tribes. The first such medals were engraved and were awarded on behalf of George Washington in 1892. The tradition continued into the late 19th century.

Indian Penny – A slang term for Indian Head cent.

Ingot – A slug or bar of metal issued by a mine, refinery, mint, or other establishment working with metals. Gold and silver ingots of the 19th century were customarily stamped with information including the weight, purity, issue, a serial number, and sometimes the value and/or the date.

Inscription – The straight-line lettering on a coin, unlike legends which follow the curvature.

InstantCash – Consignors to our iAuctions with consignments valued at greater than $50,000 will automatically qualify for our new InstantCash Program, where up to 60 percent of the value of their sales will be sent the day after the auction — cash to use immediately with no interest charges and the potential to be paid the final 40 percent just seven days following the sale!

Intrinsic Value – The value of the precious metal in a numismatic item based upon the market value, which may fluctuate on a daily basis. United States coins contained their intrinsic value in metal until 1933 for gold coins and 1964 for silver coins. The modern United States issues are termed fiat currency.

Iridescence – A lustrous rainbow-like play of colorful toning on the surface of a coin.