Table of contents:
- Don't lose when selling
- Antique shop trip
- Coins from the piggy bank
- We take only our own and clean
- To attach valuable coins of Russia
- Common mistakes when selling and buying coins
2024 Author: Sierra Becker | [email protected]. Last modified: 2024-02-26 03:46
Coins of the USSR and Russia can be found in the piggy banks of every inhabitant of our country. Someone collected money of any denomination in childhood, someone simply saved up for a cherished dream, someone collected according to a chosen theme, for example, the Olympic theme. Now it's time to realize this "we alth".
Don't lose when selling
Not only newcomers to numismatics, but also collectors are figuring out where to sell coins. This can be done in several ways: through a pawnshop, through a bank, at an auction, through resellers.
Sale through a pawnshop - an option for accelerated implementation. They operate with a different set of services. Some institutions accept coins as collateral as a separate category of valuables. Other lending institutions will accept collateral in the form of scrap or jewelry without the purpose of return and redemption, depending on the condition of the coin.
Selling through banks has its difficulties. They accept valuables in perfect condition, preferably in bank packaging. Specialists check the authenticity of the coin and its trading condition. If the checked copy was just taken out of the package, then the bank will reduce the purchase price by 3%. In the presence of external damage in the form ofstains, scratches, chips, irregularities in the form of an offer to purchase the bank will reject.
Remember also that there is a price gap in buying and selling transactions. It is highly probable that in a short period of time (month, year) the bank's purchase price will not exceed the bank's sale price.
Coin trading auctions are organized on the Internet. The company organizing the auction is an intermediary and earns on commission fees. The intermediary is interested in the product being sold at the maximum price. In order not to become the owner of a high quality fake, choose an auction with high-level specialists who have successful experience in selling and buying. The convenience of an auction on the Internet is that you do not have to waste your energy on finding a real buyer and risk the safety of material assets.
Where to sell coins - the choice of the seller of valuables.
Track time from purchase to sale. Income from the transaction is subject to personal income tax at a rate of 13%. But when owning a valuable monetary unit for more than three years, the seller is exempt from paying personal income tax and from filing a declaration. If the holding time is less than three years, but the amount of income from sales operations is not more than 250 thousand rubles, or the sale price is lower than the purchase price, then the tax is also not paid, but the obligation to file a declaration and the right to claim a tax deduction remains. Evasion of filing a declaration entails a fine of one thousand rubles.
Antique shop trip
The term "buying coins" has an everyday character. The correct name of the transaction is "purchase". coinsbuy antique shops, collectors, resellers, guided by prices and volumes of goods on the market.
Dealers - intermediaries between the seller and the final buyer, interested in earning in the form of margin. The purpose of the reseller is to buy cheap and sell expensive. A common offer from resellers is a quarter, sometimes a third, of the real price.
Antique shops buy only rare things, thus insuring against glut. With whomever the transaction is planned, the seller must familiarize himself with the current catalogs in order to reduce the risk of lost profits from selling at a price below the catalog price.
Buying coins cannot be mass. Numismatics operates with rare specimens.
Coins from the piggy bank
The question "where can I sell coins of the USSR" has several answers.
Soviet metal money is accepted by pawnshops, antique shops, specialized stores and, of course, collectors.
Before pecking at the ad “buy USSR coins”, study the market.
Know the language of your target audience. Understand the terminology.
To explore the demand for the coins you have, create an anonymous auction.
After reading the terms and conditions of the buyers, choose where to sell the coins profitably.
The most expensive coins of the USSR were put into circulation in 1947. Now their price is not less than 10 thousand US dollars. Not cheap metal money in 1958. Sellers ask for them at least 70 thousand rubles. Find a buyerfor such values is difficult, but the profit will justify the cost of searching.
We take only our own and clean
Who buys coins? Sberbank buys own-issue precious metal money products.
Watch the bank's announcements on the site - sometimes it announces the purchase of ordinary coins issued in a small series or with distinctive features from the main series.
One-time purchases of metallic money in Russia are also carried out by other banks. More often they apply for the purchase of products of the St. Petersburg Mint. SPMD coins for money circulation were issued in small circulations, and therefore their value is high. The cost of one monetary unit ranges from 150 to 254 thousand rubles.
To attach valuable coins of Russia
When it's time to take advantage of investment returns, study the buyers' market. There are several ways to solve the problem of where to sell valuable Russian coins.
Investment coins of Russia from gold, platinum and silver are bought by pawnshops and banks. The bank employs appraisers.
Non-precious coins of modern Russia, issued in small circulation at the St. Petersburg Mint and in circulation, are sold at auction.
Let's consider in detail the monetary unit of 10 rubles worth of 2011 issue. Made at the St. Petersburg Mint. The sign of SPMD is located on the obverse under the foot of the eagle. Value released in the amount of 13 copies. Targetrelease - checking new stamps. SPMD issues only commemorative coins, so everyday 10 rubles issued by a plant from St. Petersburg is a rarity.
Common mistakes when selling and buying coins
1. Beginners try to buy a lot in the hope of selling high and getting rich quick. But investing in metallic money is a long-term operation. Do not plan to generate income in the short term in numismatics. Waiting for a suitable sale price lasts for years. Financiers advise to purchase coins in the amount of no more than 5% of free funds. And do not take loans for the purchase.
2. The principle of buying "the more - the better" is an erroneous strategy. Decide on the theme of the future collection: coins of one country, era or theme. Strive to become a competent collector and expert in the chosen direction of numismatics.
3. Greed and amateurish naivety are no help in collecting a collection. Carefully study the information about the coin of interest. When buying rarities, invite an expert in the field of numismatics. Do not buy valuable items in random places, even if they declare a price below the catalog. According to numismatists, 50% of the coins on the market are fake. If you sell later, you will not get rich, and you will not return the money spent. Where to sell coins at a profit is up to the seller. But record the deal on paper for reliability and reduce risk.
4. Numismatic values are subject to theft no less than other items made of precious metals. Examine the parameters of the coin before buying. Buy collectibles onlyfrom trusted sellers with a proven track record.
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