More Precious Than Gold: Getting The Best Value For Your Byzantine Coins At Auction

So, you have been working diligently on your coin collection, and now you are interested in making a return on your efforts. But how can you be sure you're cashing in your coins for the best possible price? Whether you are entering the world of collectible auctions for the first time or are simply new to the world of Byzantine coins, the tips below will help you make the most of your ancient coins.

Choose Your Venue Wisely

Not all auction venues are created equal. Many charge a commission that may be as high as 20% of the selling price of your item. When speaking with an auction house about your coins, make sure to find out what costs are associated with your listings. In some cases, you may be able to haggle down the overhead and even get discounts on authenticating your items. Don't be afraid to be a little pushy since you have the freedom to shop around for a venue with the best terms for your transactions.

Keep in mind too that not all collectibles auctions will draw the best crowd for a set of Byzantine coins. You're not likely to get the highest possible bids at a sports collectibles auction, for example. You should evaluate local venues based on how often they trade in valuable coins before committing. If you have the flexibility to travel or to ship your coins further away for sale, it will help you find the market with the highest demand from numismatists who can appreciate what you have to offer.

List Your Best Coins Individually

When auctioning large collections, it can be tempting to keep things simple and just list the entire set as one lot. For lower-value coins, this is a good way to increase the appeal to hobby collectors looking for a large volume of items. On the other hand, your highest valued single coins should be sold individually, as this allows you the opportunity to make a higher return on a per coin basis. In some cases, single coins have even sold for 190,000 dollars!

This strategy is advantageous because you will avoid pricing out smaller collectors who may not be able to afford a combined lot of numerous expensive coins, while still drawing the attention of wealthier patrons with an interest in numismatics. You may end up with some unsold or undersold copper pieces, but you're likely to make more with authenticated individual gold or silver Byzantine coins this way. 

Consider The Prestige Of Donation

If your ambitions extend beyond a single auction into the realm of long-term coin trading, you may want to consider taking a small financial loss in order to build your prestige in the collecting community. Many museums and catalogs specializing in the exhibition of ancient Greek and Roman coins will be only too happy to publicize your contributions to their collection. 

Having your name and a brief description listed as a contributor to a well-known collection can add significant weight to the perceived value of your items among collectors. Instead of seeing you as an unknown quantity, buyers will recognize you as someone who trades in genuine pieces with real historical value to museums and research organizations. This can entice higher bids on the wares you choose to list for sale.

You've put time, work, and love into your collection, so you deserve as much value as possible when you decide to let your coins go. With patience, research, and a bit of flexibility, you should be able to earn a tidy profit at auction. Happy trading and good luck, coin lovers!