Oakton Coins & Collectibles: a favorite coin shop near Hoffman Estates

When it comes to selling gold, we buy it all. Yellow gold, white gold, and even damaged or broken jewelry can be turned into cash. We also purchase estate jewelry, designer pieces, and dental gold. From 10k to 24k, every karat purity is accepted, and we also buy gold and silver bullion. Jewelry containing diamonds, emeralds, or sapphires is valued for both the precious metal and the stones. Whatever form your gold takes—coins, bars, heirlooms, or modern jewelry—we are always interested in buying.

If you are intending to sell your coin collection, you have found the right place. Oakton Coins and Collectibles has the expertise to guide you in selling one coin or a whole coin collection.  Whether you are a lifetime coin collector or have recently inherited a coin collection, our knowledgeable and attentive staff can help you understand your options. Oakton Coins & Collectibles is the perfect place for your coins, you’ll see.

Understanding coin selling around Hoffman Estates

There are several important factors that should be understood when it comes to selling coins.  The most elementary consideration is whether the coin is worth more than face value.  Some are and some aren’t, and only numismatic proficiency can recognize the difference.  Collectors add different types of coins to their collections, and depending on their goals and interests, some may be low-value or face-value coins, but others may have a high value.   No matter what kind of coin collection you bring, Oakton Coins will provide friendly and discrete service throughout the process.

Surprisingly selling collections, can sometimes be an emotional process.  Sometimes people are not sure if they are ready to sell their collection.  Other people eagerly can’t wait to get the whole collection of their hands.  Still others may sell the highest value items and split up the rest between family members. Sometimes the collection does not have much monetary value, and they decide to gift it to a younger generation instead. 

A word on organizing collections.  Although there is no one correct way to do it, we’d like to caution you not to spend your time organizing by date because it is not necessary. During our appraisal process we organize the coins according to their metal composition (silver, gold, etc.) If you decide to do it yourself, group them into these numismatic categories:

• • • Gold coins 
    • 9o% silver dollars (1878 through 1935) 
    • 9o% silver dimes, quarters, and half dollars (1892 through 1964) 
    • 40% silver JFK half dollars (1965 through 1970) 
    • Lincoln Wheat Cents (1909 through 1958) 
    • Buffalo Nickels (1913 through 1938) 
    • Jefferson Nickels (1938 and later) 
    • All other obsolete U.S. type coins
    • U.S. Mint proof and uncirculated sets 
    • U.S. Mint commemorative sets 
    • Currency and paper money 
    • Foreign coins/tokens

Collectors in every budget range have a wealth of coins to search from when they build their collections, but the following questions can help establish an idea of what your collection might be worth. 

Do you know how often the collector purchased coins or how much they spend on them?  Are there any papers such as receipts, or canceled checks to coin dealers?  Was there an insurance policy that you can view?  Was there a mention of the coins a will?  

This information is useful to have as a guide, but there are many other factors that influence the worth of the collection. The value of coins and collectible paper money, as with all collectibles is what a willing buyer will pay for them. The metals market fluctuates, and demand can change so the value is never a fixed value.  

Pricing your collection to sell around Hoffman Estates.

There exist coin reference guides in which you can look up prices for each coin you own. The guides are another resource to help establish the price range you can expect, however keep in mind these are the prices that a retailer would sell them at.  Most of the time, you will not receive those values when selling a collection.  To get those values, you will need to spend time trying to find individual buyers for each coin.

Coin Selling Terms: Clickbait Pricing, Real-World Pricing, Melt Value Pricing, Numismatic Pricing

Clickbait Pricing

Clickbait is trick that makes you want to click.  The bait, a reference to fishing, is generally misleading online content designed to attract an unsuspecting user to click.  The clicks generate advertising revenue. The most popular sensational headlines as far as coins are concerned, claim that the coins in your pocket could be worth thousands of dollars.  Although genuine error coins can be valuable, identifying them requires expertise and careful evaluation.  These stories are inaccurate and frequently lead to disappointment.

Real-World Pricing

Real-world pricing reflects the price when money changes hands.  Regardless of any advertising, speculation or other ideas, this is the coin’s real market value.  Finding the willing buyer at your price is the key.

Melt Value Pricing

Melt value is the value that a coin holds based solely on its precious metal make-up.  The melt-value is determined by three factors:  the coin’s weight, the percentage of the precious metal, and the current market value of that metal.   United States coins made before 1965 may have silver or gold content, but not modern circulating coins.   Let’s take the 40% silver JFK half dollar for example.  The coin’s face value is 50 cents, but since it has silver content, it is actually worth much more than that.  Since the half dollars minted in the (1965 through 1970) were composed of 40% silver, so if the coin weighs 0.37 troy ounces, which is the average weight, and the value of silver today as I’m writing is $38.67 per ounce, that would make the melt value around $14, however if the coin was uncirculated, it would also have additional numismatic value! However, in this particular example, the coins would never physically be melted down, as they are still US currency.  Any value beyond the melt value depends on the coin’s numismatic significance.

Numismatics

Numismatics is the study and collection of coins, paper currency, and related items. A coin’s rarity and condition are the primary factors determining its value. While metal content is part of the equation, a coin’s numismatic value can greatly add to its total worth.

Places NOT recommended to sell gold around Hoffman Estates

• • • Jewelry Stores and Pawn Shops:  They have a very high markup so will only offer the lowest prices.  Also, they usually only understand the precious metal component of gold/silver coin value, and they pay only a small percentage of that price.
    • ebay – Selling coins on ebay is actually quite common, however there is a significant amount of knowledge and time needed to be successful.  If you aren’t knowledgeable in either numismatics or are not already a seller on ebay there are considerable risks involved.   Click here for more information.

Sell gold near me – sell gold locally – Hoffman Estates

Oakton Coins & Collectibles is located near the 94 West (Kennedy) expressway near downtown Evanston, and less than two blocks from the Oakton stop on the Yellow Line CTA (Skokie Swift). It is convenient and close to Arlington Heights, Barrington, Brookfield, Deerfield, Des Plaines, Elmhurst, Elk Grove Village, Evanston, Franklin Park, Forest Glen, Glencoe, Glenview, Highland Park, Hoffman Estates, La Grange, Lake Bluff, Lake Forest, Lincolnwood, Lincolnshire, Lombard, Morton Grove, Naperville, Northbrook, Northfield, Oak Brook, Oak Park, Palatine, Park Ridge, Portage Park, Prospect Heights, Rogers Park, Schaumburg, Skokie, Wheaton, Wheeling, & Winnetka.