OLX Coin, How to Sell Coins, Valuing Coins, Finding Buyers, FAQs

OLX Coin, How to Sell Coins, Valuing Coins, Finding Buyers, FAQs

OLX Coin: Old coins and notes are now sold/auctioned on multiple online platforms like OLX, Quikr, eBay, IndiaMart, and Coinbazaar. If you have a hobby of collecting old coins and notes then you have a good chance to earn lakhs of rupees by sitting at home. you can sell old coins and notes in India and you can do so even on online websites like eBay etc. However, they can be sold like goods and to people like coin collectors and won’t be a legal tender for exchange. Cautioning the general public “not to fall prey to fictitious offers of buying/ selling of old banknotes and coins,” the RBI said the central bank does not deal in such matters, and “never seeks charges/ commissions of any sort.” Olx old coins

In Hindi:

पुराने सिक्के और नोट अब OLX, Quikr, eBay, IndiaMart, और Coinbazaar जैसे कई ऑनलाइन प्लेटफॉर्म पर बेचे/नीलामी किए जाते हैं। अगर आपको पुराने सिक्के और नोट जमा करने का शौक है तो आपके पास घर बैठे लाखों रुपये कमाने का अच्छा मौका है। आप भारत में पुराने सिक्के और नोट बेच सकते हैं और आप ईबे आदि जैसी ऑनलाइन वेबसाइटों पर भी ऐसा कर सकते हैं। हालांकि, उन्हें माल की तरह और सिक्का संग्राहक जैसे लोगों को बेचा जा सकता है और विनिमय के लिए कानूनी निविदा नहीं होगी। आरबीआई ने आम जनता को “पुराने नोटों और सिक्कों की खरीद / बिक्री के काल्पनिक प्रस्तावों के शिकार न होने” के लिए आगाह करते हुए कहा कि केंद्रीय बैंक ऐसे मामलों से निपटता नहीं है, और “कभी भी किसी भी प्रकार के शुल्क / कमीशन की मांग नहीं करता है।” Olx old coins price list

How to sell Coins: Valuing Coins

Identify the coin.

Before you can sell a coin, you need to know what coin you have. First, find the coin’s denomination, then note the date and mint mark. These pieces of information will be somewhere on the coin. You can then type them into an online search engine to figure out what coin you have.
Coin dealers and collectors may be able to help you, too. Take a clear photo of both sides of the coin and send it to coin collector groups online when you can’t bring the coin in person

OLx Coin
OLx Coin

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Note the coin’s condition.

  • The condition of the coin affects its value. Look over both sides of the coin again. Does it look dirty or scratched? The worse the damage is, the less value you’ll get for your coin. Also look for any printing errors, since these often increase the value.
  • Coins are graded on a 70-point scale where 0 is “Poor” and 70 is “Mint Condition.” Coins rated “Good” or 6 are actually very worn, and ones rated “Fine” or 12-15 have a medium amount of wear.
  • Don’t attempt to clean the coin! Coins are historical artefacts and collectors like them natural. Cleaning can actually damage the coin further.

Look up the coin’s value.

Once you know what coin you have, you can estimate how much it’s worth. There are plenty of sites online that maintain a list of current coin values. Another option is to go to your local bookstore and order the Official Red Book, which is an official and very detailed guide to coin values.
Coins are listed at wholesale price. You may not get as much when you sell individual coins.

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Monitor auctions to find out how much your coin is worth.

More information on coin values can be found by searching recent sales. All sorts of coins pass through sites such as Heritage Auctions. Search for coins similar to the one you own to get a glimpse of how much others are paying for them.

Old 2 Rupees Coin

Get an appraiser to value coin collections.

Appraisers are necessary when you’re selling valuable coins or a large collection. Search your local phone directory or online to find a trustworthy coin appraiser or dealer. They’ll analyze each coin, verify its authenticity, and tell you how much it’s worth.

  • Look at online reviews from other customers or consult the Better Business Bureau to vet the appraiser’s reputation.
  • Many respectable dealers are members of groups like the American Numismatics Association or Professional Coin Grading Service. Use these sites to find trustworthy appraisers.

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Group coins by value.

Different buyers specialize in different types of coins. If you’re selling multiple coins at a time, try to separate them into value-based groups. Make groups of high, medium, and low-value coins. How you group the coins is up to you, but the easiest way to do this is by wholesale value.
You can also separate the coins based on how worn they are, the metal used in them, or where they were printed.

Finding Buyers

Speak to reputable coin dealers.

Local coin dealers are natural places to visit first when selling coins. Mostly you’ll sell low and medium-value coins here. When you go to a dealer, look at their stock. If they have a lot of coins made of the same metal and of similar quality to the ones you’re selling, chances are they’ll give you a fairer price.

  • Many dealers can also handle rare coins, but you’ll usually get more money from auctions or private collectors when selling these coins.
  • Remember that dealers are running a business. To make a profit, they’ll pay you less than the wholesale price.
  • It’s best to let multiple dealers evaluate your coins. Stay polite as you continue to shop around.
OLx Coin
Old 1 Rupees Coin (OLx Coin)

Visit coin shows.

Coin shows bring together large numbers of buyers and sellers. Look for people dealing in coins of similar quality to the ones you’re selling. Discuss a fair selling point, but don’t feel pressured to sell. You won’t always get a great offer at a coin show, but you’ll have an opportunity to find trustworthy dealers and meet people who can guide you in the right direction.

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Search for online coin dealers.

These sites are a fast way to sell coins from your own home. You can find sites willing to buy both common and rare coins. Again, keep an eye out for dealers focusing on the kind of coins you’re selling. A dealer of rare gold coins isn’t likely to be interested in a wheat penny or buffalo nickel.

  • Take good pictures of the coins to get more interest and fairer offers for your coins. Work in a well-lit environment so the lettering and mint marks are as visible as possible.

Pick up coin collector magazines.

Publications such as Numismatic News and Coin World feature advertisements from coin dealers. While the magazines offer enlightening information on coin sales, they may also reveal your perfect buyer. Pick up one in your local coin shop or by looking online.

  • Whatever you do, avoid advertising in your local newspaper. Even if you meet someone in a safe place, this makes your coins a potential target for thieves.

Submit the coins to auctions.

Coin auctions happen both online and in person. They come in all sizes and can be local, regional, or national. Try to find an auction that features a lot of coins of similar material to yours, such as copper or silver. Auctions are unpredictable, so you may earn less than what a dealer would pay or you may get an unexpected boost to your sale price.

  • Auctions charge both a buyer and seller fee of around 10-15% of the final sale price. Account for this when determining how much you can make from auctioning a coin.
  • Auction sites like eBay are also fine, but be wary of scams.
OLx Coin

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FAQs on OLX Coin

How can I sell my old coins for free?

The best places to sell coins online

  • eBay. It’s become an unofficial coin marketplace for thousands of sellers from around the world.
  • Amazon. The Collectible Coins section is an excellent alternative to eBay.
  • Internet Auctions.
  • Your website.

How can I sell my old 25 paise coins?

If you have this particular 25 paise silver colour coin, you can sell it online for up to Rs 1.50 lakh. So if you have any of these coins and want to sell them, you must first register on the Quikr website. If you enjoy collecting antique coins, you can sell your coins on OLX as well.

Do post offices buy old coins?

There is a ‘buy back’ option with Indian gold coins through MMTC-approved stores. MMTC will repurchase the Indian Gold coin which has to be intact in the tamper-proof packaging and with the original invoice, at the gold base rate which was prevailing. It is to be noted that the post office will not buy it back.

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How can I sell my 5 rupee coin?

All you have to do is visit Quikr and register yourself as a seller on the website. Then click and upload a photo of the coin on the website. Buyers who are interested will contact you. You have to negotiate with them and sell the coin. old coins for sale Olx