Oakton Coins and Collectibles is one of the highest rated coin shops near Northfield.
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 and Collectibles can simplify the process.
Understanding how to sell coins around Northfield.
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 Northfield.
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 Northfield.
- 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 – Northfield.
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, Northbrook, Elk 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, T;
Tab Toning – Often seen on commemorative coins that were sold in cardboard holders with a round tab, the coins have a toned circle in the center.
Tail Feathers – The feathers that make up the eagle’s tail on the reverse of certain U.S. coins. Most often used when describing Morgan silver dollars.
Target Toning – A term for color distribution resembling an archery target on a coin. The deeper colors are on the outer periphery and fade to white or off white at the center of the coin.
Technicolor Note – A common term for the Series of 1907 large-size Gold Certificates. Derived because the faces of these notes have a gold tint to part of the paper, part of the inscription is in gold ink and a bright red Treasury seal and serial numbers.
Teddy’s Coin – A common name for J-1776, the unique gold striking of the 1907 Indian Head double eagle, designed by Augustus Saint-Gaudens at the request of President Theodore Roosevelt.
Ten – The common term for a $10 gold coin, also known as an eagle.
Ten Indian – A common name for the $10 gold Indian Head eagle.
Ten Lib – A common name for the $10 gold Liberty Head eagle.
Territorial Gold – Gold coins and bars that were privately struck during the various gold rushes.
TF – An abbreviation for tail feathers.
Thaler – The Germanic spelling of the name for the silver-dollar size coins from Europe, from which the English word “dollar” is derived.
The Numismatist – A monthly periodical published by the American Numismatic Association.
Third Charter Note – A common term for the Series of 1902 National Bank Notes, with no basis in Treasury documents.
Third-Party Opinion – An opinion of a numismatic item’s grade supplied by a person or company other than the buyer and seller of the coin.
Three – A shortened term for the Indian Head $3 gold coin.
Three Cent Nickel – Three-cent coins struck from 1865 to 1889 containing 75% copper and 25% nickel with a Liberty Head motif. The design by James B. Longacre was copied from Christian Gobrecht’s earlier Liberty Head motif.
Three Cent Silver – Three-cent coins with a star motif struck from 1851 to 1873 in silver alloy. This is the smallest of the silver coins and was designed by James B. Longacre.
Threepence – Coin in the British system, also used in certain early American issues (1737 Higley coppers, 1783 Chalmers threepence), equivalent to three pennies (pence) or ¼ shilling.
Thumbed – A term used to describe a coin that has been doctored by rubbing the thumb lightly over marks, hairlines, or other disturbances. The oils in the skin help to disguise these problems.
Tin – Metal element. Used in numismatic texts to describe coins in a soft silver-colored alloy, better called white metal. Judd listings as tin are in the present text called white metal. Pure or nearly pure tin oxidizes at cold temperatures, producing unsightly black “tinpest.”
Tinted Paper – Paper used to make currency that has color embedded in the material rather than applying color to the surface during printed. An example would be a Series of 1869 Legal Tender “Rainbow Note.”
Tissue Toning – Coins that are stored in the original mint paper can often acquire colorful, usually vibrant, toning caused by the sulfur in the paper reacting with the metals in the coin.
Token – A privately issued piece, used typically with an exchange value for goods or services but not officially issued by the United States government.
Tombstone Note – A common term for the Series of 1886, 1891 and 1908 Silver Certificates. The face depicts the deceased vice president, Thomas A. Hendricks, surrounded by a frame that is shaped like a tombstone. It is not known whether this was intentional or not.
Toning – Natural patination or discoloration of a coin’s surface caused by the atmosphere over a long period of time. Often very attractive, many collectors prefer coins with this feature.
Tooling Mark – Lines found on both genuine and counterfeit coins, most often small and fine, these are caused by touching up the dies.
Top Pop – Slang for a coin with a grade that is the highest listed for that particular variety within a population report.
Trade Dollar – A U.S. silver coin, issued from 1873 until 1885, intended for circulation in Asia to compete with dollar-sized coins from other countries. It is slightly heavier than the regular silver dollar and was made with marginally higher silver content in an effort to gain acceptance in commerce throughout the world. Designed by William Barber.
Transfer Die – A die created by using an existing coin as the model.
Transitional – Shortened term for transitional issue.
Transitional Issue – A coin struck before a series starts, after a series ends, or a coin struck with either the obverse or the reverse of a discontinued series. Or, a coin struck with the obverse or reverse for a newly issued series.
Treasure Coin – A coin discovered from a shipwreck or from a buried or hidden source.
Treasury Department – A branch of the United States government that controls the Bureau of Engraving and Printing, the Federal Reserve System, the coinage mints, and other monetary bureaus.
Treasury Hoard – Generally a term referring to hundreds of millions of silver dollars held by the United States Treasury Department from the 19th century through the early 20th century. Most coins in the hoard were distributed in 1962-1964, after which only about three million remained, to be sold by the General Services Administration (GSA).
Treasury Note – Another term for a Coin Note.
Treasury Seal – An emblem of the Treasury Department used on the face of all federal currency. They vary in size, color and the border design, but the basic design features a pair of scales above and a key below, with inscription surrounding. Used from 1862 to the present day, on all denominations $1 and higher, in addition to fourth and fifth issues of Fractional Currency.
Trial Strike or Striking – Another term for die trial.
Trime – The common name for a 3-cent silver U.S. coin.
Troy Ounce – The principal unit of weight in the troy system, generally used in precious metal transactions. The troy pound contains 12 troy ounces.
Truncation – The bottom edge of a portrait or bust. Example: The neck truncation of Miss Liberty on an 1850 $20.
Twenty – Common term for a double eagle or $20 gold coin.
Twenty Lib – Common name for $20 gold Liberty Head double eagle.
Two and a Half – Common term for a quarter eagle or $2.50 dollar gold coin.
Two-Cent Piece – A common name for the Shield two-cent coin designed by James Longacre, struck from 1864 to 1873.
Type – A series of coins defined by a shared distinguishing design, size, metallic content, denomination or other element.
Type Coin – A representative coin from a particular issue of a specific design, size, denomination, or metallic content, usually a common date for the series.
Type One – Term for any coin from the first type within a series.
Type One Buffalo – An Indian Head nickel dated 1913 that has a bison on a raised mound on the reverse.
Type One Gold Dollar – The gold dollar struck from 1849 until mid-1854 in Philadelphia and for the full year in Dahlonega and San Francisco with a Liberty Head design.
Type One Nickel – The five-cent coin struck from 1938 until mid-1942 and from 1946 until the present day with a Jefferson Head obverse.
Type One Quarter – The quarter struck from 1916 to mid-1917. This Standing Liberty design features a bare-breasted Miss Liberty, a simple head detail, and no stars under the reverse eagle.
Type One Twenty – Double eagles struck from 1850 until mid-1866 with the Liberty Head design. These coins did not have a motto on the reverse and the denomination was indicated as “TWENTY D.”
Type Set – A collection comprised of one representative coin of each type, particular to a period or series.
Type Three – Any coin from the third type within a series.
Type Three Gold Dollar – Gold dollar with a small Indian Head design, struck from 1856 until the series ended in 1889. The San Francisco Mint did not receive the type three dies in time to strike the new design in 1856, so the coins from that mint have the type two style.
Type Three Twenty – Liberty Head double eagles struck from 1877 until the series ended in 1907. They have the motto “IN GOD WE TRUST” on the reverse and have “TWENTY DOLLARS” for the denomination.
Type Two – Term for any coin from the second type within a series.
Type Two Buffalo – An Indian Head nickel struck from mid 1913 until the series ended in 1938, with a bison shown on level ground on the reverse.
Type Two Gold Dollar – Gold dollar with the large Indian Head design, struck from mid-1854 until 1855 in Philadelphia, Charlotte, Dahlonega, and New Orleans.
Type Two Nickel – The five-cent coin with the Jefferson Head design, struck from mid-1942 until 1945. These are identified by a large mintmark above Monticello on the reverse and are composed of silver, manganese, and copper. The first U.S. coins to have a “P” mintmark to indicate they were struck at the Philadelphia Mint.
Type Two Quarter – The quarter struck from mid-1917 until the series ended in 1930. This Standing Liberty design features Miss Liberty with a covered breast, three stars under the reverse eagle, and a more intricate head design.
Type Two Twenty – Double eagles with the Liberty Head design, struck from mid-1866 until 1876. These coins have the motto “IN GOD WE TRUST” on the reverse and have “TWENTY DOL.” for the denomination.