Using email to communicate key messages with your audience is a great way to drive sales.
To further engage with those who may buy from you, you could also consider becoming an active part of online coin-collecting communities such as the American Numismatic Association Members group on Facebook. After all, your store is online and social media is where the attention of your audience will often be focused.ĭoing this is as simple as setting up your own social media accounts and regularly publishing quality content that will be of interest to your audience. Social media should be a go-to marketing method for any online store. There are countless ways to do this, we give you a brief overview of the top and most widely accepted marketing methods below: Social Media In order to generate sales, you will also need to drive traffic to your website. So, you’ve built a fantastic online store to sell your coins. So, this approach is often less profitable than selling directly to the end collector. After all, they need to make a profit themselves. All you need to do is take the coins to the dealer and work out a price you are both willing to accept.Īs coin dealers will typically sell your coins on, it’s likely that they will offer you less than what they can sell them for. Selling to coin dealers can be fantastically lucrative if you have a knack for picking up coins well below market value. Plus, if you do sell you’ll have to pay the auction house a percentage of the amount you sold the coin for. Of course, you do face the risk of the item not meeting the reserve and therefore not selling. This can be a great way to shift stock quickly. When you sell your coins at an online auction you can guarantee that they will sell on the day you auction them, as long as they reach your desired reserve price. This is especially true if your business model is focused on targeting other keen collectors. Specialist and general online auctions can be a great way to sell coins online. It is also important to remember that they “own” your audience and can change the terms of accessing them at any time – such as increasing the amount you need to pay on each sale.
However, online marketplaces tend to charge relatively high commissions which can eat into your profits. The big benefit of this option is that it offers sellers an opportunity to get their coins in front of an already engaged and ready-to-buy audience. Online marketplaces such as eBay are another popular option for selling coins online. Shopify – Best overall online store builder.Given the control that you have over your own website, this is arguably the best place to sell coins online – however, pairing this with other methods can be a smart way to reach more people.īest Online Store Builders to Sell Coins Online Online stores can also help you cut commissions from third-party providers and often offer you the tools you need to grow your business online, such as email marketing and social media scheduling.įor those looking to sell coins online, we strongly recommended checking out Shopify and Wix. This trust is especially important for those selling coins because buyers will need to feel confident that what they’re buying is genuine. When you set up an online store to sell your coins you start to develop a central location where you can develop your brand and generate trust with your audience.
Online stores are the go-to for those looking to sell online – and for good reason. Below we explore these options to give you the insight you need to pick the best one for you. Luckily, there are several places you can sell coins online, each with its own benefits and downsides. So, where is the best place to sell coins online?
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