So you’ve got some old coins or maybe you’re looking to start collecting. First thing you’re probably typing into Google? "Where old coins are sold." I get it - I’ve been there. When I inherited my grandpa’s coin collection, I spent weeks driving to random shops and getting wildly different appraisals. Some places tried to lowball me so bad I nearly laughed in their faces. Others? Super helpful. That’s why I’m dumping everything I’ve learned over 15 years in this guide.
We’re cutting through the nonsense today. No fluff, just straight facts about where old coins are sold, how to avoid scams, and how to actually enjoy the hunt. Because let’s be real - finding that rare 1909-S VDB penny at a flea market? Best feeling ever.
Physical Places Where Old Coins Are Sold
Nothing beats holding a coin in your hands before buying. Here’s where to go:
Local Coin Shops (LCS)
These are my go-to spots. Walked into "Coin Haven" here in Austin last month - smelled like old books and metal. Owner Mike let me examine a 1921 Morgan dollar under his magnifier for 20 minutes while telling Civil War stories.
Pros? Expertise on tap. Cons? Limited inventory. And some markups sting - saw a common wheat penny priced at $5 when it’s worth 50¢.
How to Find Good Local Coin Shops
- Check open hours: Most open 10AM-6PM Tue-Sat. Call ahead!
- Look for credentials: ANA or PNG memberships = trustworthy
- Bring cash: Often get 5-10% discounts for greenbacks
Antique Stores & Malls
Hit or miss. Some dealers specialize in coins, others toss them in junk drawers. Found an 1883 "No CENTS" V nickel under a music box once - paid $20 for a $100 coin. But last week? Saw a fake "rare" Roman coin priced at $299. Oof.
Pawn Shops
Tread carefully here. Pawn shops can surprise you - a buddy scored an 1854-O seated liberty dime for $50 (worth $1,500). But most know zero about coins. Got offered $35 for a $500 gold coin once. Just walked out shaking my head.
| Pawn Shop Coin Buying Tips | Why It Matters |
|---|---|
| Go mid-week afternoons | Less busy = more time to negotiate |
| Ask "What else you got in back?" | Better items often not displayed |
| Check for gold/silver hallmarks | Pre-1965 US coins = 90% silver! |
Flea Markets & Garage Sales
My happy place. Woke up at 5AM last summer, found a complete 1943 steel penny set in a rusty toolbox for $10 (worth $150). Keys to success:
- Arrive EARLY - dealers scoop good stuff fast
- Bring a loupe and UV light (forgeries glow)
- Ask "Got any old money?" - works better than "coins"
Coin Shows
Like Disneyland for collectors. Hundreds of dealers under one roof. The energy? Palpable. Downside? Overwhelming for newbies. Saw a guy drop $20k on a Confederate half-dollar without blinking.
| Show Name | Location | Frequency | Specialty |
|---|---|---|---|
| FUN Show | Orlando, FL | January | Rarities & bullion |
| ANA World's Fair of Money | Rotating cities | August | Everything (massive) |
| Long Beach Expo | Long Beach, CA | Feb/Jun/Sep | Ancient & world coins |
Pro tip: Dealers negotiate most on Sunday afternoons when packing up. Got a 20% discount on a mercury dime collection that way.
Online Places Where Old Coins Are Sold
Can’t beat the convenience. But man, the scams are creative...
eBay & Auction Sites
Bought my first Morgan dollar on eBay in 2009. Still have it. But last month? Almost got burned by a "rare" 1916-D mercury dime. Photos looked legit - coin arrived obviously cleaned. Had to fight for a refund.
When buying coins online:
- ALWAYS check seller feedback (minimum 99% positive)
- Demand multiple high-res photos (front/back/edge)
- Use PayPal - their buyer protection saved me twice
Specialized Marketplaces
Great for niche collectors. Sites like VCoins (ancients) or ColonialCoins (pre-1800 US) vet sellers rigorously. Paid $375 for a Roman denarius last year - arrived certified authentic. But selection can be slim.
Dealer Websites
Reputable names like Heritage or APMEX. Prices higher but zero risk. My splurge? A 1794 flowing hair dollar (replica - real ones cost houses!).
| Red Flags | Green Flags |
|---|---|
| Stock photos only | Actual coin photos w/ serial numbers |
| Prices way below market | Matching recent auction results |
| "Rare" claims without proof | NGC/PCGS certification numbers |
Where Old Coins Are Sold Through Private Channels
This is where deals happen. But requires patience.
Collector Clubs & Forums
Joined my local coin club in 2015. Met Hank, an 80-year-old with civil war coins. Bought a corroded but authentic 1861-O half dollar for $200 (worth $600+). Clubs usually meet monthly - bring cash!
Online forums like CoinTalk or Reddit’s r/coins? Solid for common coins. Saw a guy sell 100 wheat pennies for $15 last week. But never wire money - use escrow services.
Estate Sales
Gold mines if you hustle. Best find? A 1933 Saint-Gaudens double eagle replica (real ones are illegal!) in a jewelry box for $5. Get there early and ask coordinators about coins specifically.
Scam Watch: Don’t Get Ripped Off
Learned this the hard way. Bought a "proof" 1955 doubled die Lincoln cent online. Arrived - obvious fake. Felt like an idiot. Watch for:
- Too-perfect coins (real old coins have flaws)
- Sellers rushing you ("5 others want this!")
- No return policies
Authentication 101
Before buying anywhere old coins are sold:
- Weigh it: Digital scales cost $20. A real 1964 quarter = 6.25g
- Magnet test: US silver/gold coins aren’t magnetic
- Check edges: Fakes often have seams
When in doubt? Walk away. Hundreds of fake Morgans flood eBay daily.
FAQs: Your Burning Questions Answered
Where are old coins sold most reliably?
Local coin shops (LCS) with ANA/PNG memberships. Avoid mall kiosks - saw one selling "gold" buffalo nickels for $50 each (worth $0.05).
Where can I sell old coins near me?
Same places! Coin shops buy collections but expect 60-70% of value. Better prices at shows or eBay if you can wait. Avoid "WE BUY GOLD" places - got offered $600 for $1,500 in silver eagles once.
What percentage over spot do dealers charge for silver/gold coins?
Typical spreads:
- Junk silver (pre-1965): 10-15% over spot
- Gold eagles: 3-5% over spot
- Rare coins: 20-200% premiums
Are auction houses good places where old coins are sold?
For high-end pieces ($1,000+), absolutely. For common coins? Their 20% buyer premiums hurt. Sold an 1893-S Morgan through Heritage - got $3,200 after fees vs. $3,500 privately. Worth it for security.
Making Your Decision
Choosing where old coins are sold depends entirely on:
- Your budget (garage sales vs auctions)
- Coin rarity (common = eBay, rare = shows)
- Risk tolerance (dealers = safe, private = cheaper)
Started my collection with flea market finds. Now I bid at Heritage. You’ll evolve too. Just remember: if a deal feels wrong, it probably is. Lost $200 learning that.
Whatever route you pick - get out there. Nothing beats the thrill of uncovering history in your hands. Found an 1856 flying eagle cent in Grandpa’s attic last year. Worth about $7,000. Still gives me chills.
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