Best Online Coin Auctions of 2021
Best Overall: Heritage Auctions Coins
Best for Rare Coins: Stack's Bowers
Best for International Coins: Archives International Auctions
Best for Coin Collections: Goldberg Coins and Collectibles
Best for Bullion Coins: Penny Pincher Auctions
Best for Commemorative Coins: Kagin's
Best for Ancient Coins: Spink
Best for Live Auctions: LiveAuctioneers
Best for Low Fees: GreatCollections Coin Auctions
Final Verdict
There are many live auction houses to choose from. Some companies, like Spink and LiveAuctioneer, offer many more items than just coins while others specialize specifically in coins. Most branch out into notaphily, or paper money like banknotes; exonumia, or coin-like items such as medals; and scripophily, or securities like stocks and bonds. Overall, the best on the market is Heritage Auctions Coins.
How to Choose the Best Online Coin Auctions
Selecting the best online coin auction house means finding the site with the right coins that fit your budget. You may prefer an auction house that offers in-person appraisals, so it might come down to location as well. Here's what you can look for when you choose an online coin auction.
Location: Do you need to have your items appraised if you plan to sell? You might need to make sure you can easily access the auction house. However, if you're willing to travel to get there, you may want to consider a few other options to get the best coins for your collection.
Return policy: How are returns handled? What about disputes? Learn about the return policy for the item you're bidding on; it might not be exactly what you expected to receive when you first get your hands on it after bidding on an item online.
Experience: Look for an online coin auction that has a lengthy history of dealing with coins. Make sure the auctioneer belongs to trade organizations such as the American Numismatic Association or the Professional Numismatist Guild. Professional affiliations tell you that the dealer will stick to certain industry guidelines and standards.
Clear terms and conditions: What is the buyer's fee? Can you access credit? Does the auction company guarantee authenticity? Look carefully into all the terms and conditions before you make a decision about the right auction for you.
Auction catalog: Look at the auction catalog so you know what coins will come up through the auction and when. Learn more about the coins that a particular online auction will feature before you bid.
Get on the phone and talk to the auction house before you bid and inquire about appraising your collection. Ask how much it will cost to appraise and what guarantees that provides.
Frequently Asked Questions
How Do I Know How Much My Coins Are Worth for an Online Auction?
Take a look at "A Guide Book of United States Coins," which numismatic enthusiasts call the "Red Book," to understand how much your coins are worth. Note that the book provides retail values, not wholesale values.
Get your coins appraised ahead of time by one of these auction houses or by a dealer who belongs to the American Numismatic Association. Coin enthusiasts should check with two or three dealers to get the most accurate idea of what someone might pay for a collection.
How Are Coins Packaged For Shipping After Auction?
Each coin auction house professionally wraps coins for shipping using a number of different methods. They will use bubble wrap, tissue paper, and other insulation paper for wrapping each individual item. The goal is to prevent items from moving around and getting damaged during the shipping process.
Does an Online Coin Auction Site Insure My Coin Collection?
Most online coin auction sites insure your coin collection when you work with them, but you must check each individual site for more information. For example, GreatCollections has an extensive insurance policy with Lloyd's of London (through HW Wood). This covers all coins in its possession, and when coins are in transit to buyers and consignors.
What Happens if My Coins Don’t Sell at an Online Coin Auction?
Every auction site has a slightly different policy. However, they may list your coins in a new auction if you can't sell them right away. The auction site may not keep making repeated attempts to sell your coins and may ship them back to you for a fee. Learn more about the minimum reserve amount at each online coin auction before you make a final decision. If you have a lot that is tough to sell, consider consigning them with a dealer instead.
How Much Do Online Coin Auctions Cost for Buyers and Sellers?
Online coin auctions typically have a high commission load. A major auction house usually charges a commission to the seller of between 5% and 20% of the auction price. In addition, the buyer will likely pay a buyer's premium, an additional charge (which varies, depending on the auction house) on the hammer price of the lot. The auctioneer charges the winning bidder to pay for administrative expenses.
Methodology
To select the best online coin auctions for this review, we looked for auction houses that offer a wide variety of coins, low fees, transparent information about the bidding process, and a stellar reputation within the numismatic community.
We also researched coin auctions listed by the American Numismatic Association (ANA), a nonprofit dedicated to the study of numismatics and coin collecting. We used its searchable database to find ANA member coin dealers and auctioneers as well as reputable auction houses by numismatic specialty and location.
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