Educational only. Not investment, tax or legal advice. Collectibles can lose value; past prices don't predict future ones.

This course explains how the market works so you can make informed decisions with your own advisors. It doesn't tell you what to buy or sell, or when.

Lesson 109.1: How dealers price (bid and ask)

A dealer has two prices: what they'll pay (the bid) and what they'll sell for (the ask). The gap between them is the spread, and it's how a dealer covers costs and earns a living. Dealers offer less than they expect to sell for (PCGS). That's normal. It also means the day you buy, the price you could sell for is usually lower.

Lesson 109.2: Reading sold results

Price guides are a starting point. Completed sales of the same item, grade and grader are closer to reality. "A coin is worth what you can get for it, not what a price guide says" (CoinWeek). See Lesson 108.1.

Lesson 109.3: The costs of selling

Add these up before deciding how to sell:

Grading (membership, tier fee, handling, shipping both ways). See 102.2 and our "Should I grade this?" calculator.
Auction or consignment fees. PCGS notes auction buyer's fees run around 20% (PCGS).
Platform fees, if you sell online.
Shipping and insurance on the way to a buyer.
Time. Finding the right buyer takes contacts and patience (CoinWeek).

Lesson 109.4: Bullion-priced, collector-priced, and sentimental

Describing what you hold helps set expectations:

Bullion-priced: mostly tied to metal content. PCGS notes many collections are "bullion based and not necessarily tied to great scarceness" (PCGS).
Collector-priced: carries a premium for scarcity, condition or demand, which depends on finding the right buyer.
Sentimental: worth most to you and your family.

Timing any market is, in one bullion dealer's words, "nearly impossible" (APMEX).

Lesson 109.5: Record-keeping and tax vocabulary (ask your tax pro)

Good records make every conversation with a tax professional easier:

Keep purchase records. PCGS: "Always keep records on what you paid… Keep records of all shipping receipts in case you have to file a claim" (PCGS).
Know the terms your tax pro may use:
Basis is usually your cost, including commissions (IRS Form 8949 instructions).
Inherited items generally take a basis of fair market value at the date of death (IRS Form 8949 instructions).
Collectibles such as coins have their own federal capital-gains rules. The IRS says "Net capital gains from selling collectibles (such as coins or art) are taxed at a maximum 28% rate," and short-term gains are taxed as ordinary income (IRS Topic 409). Gold and silver coins such as American Eagles are generally treated as collectibles for this purpose (The Tax Adviser).
Valuations "may be required at death to establish fair market value for tax reporting" (THK Law).

Tax rules change and depend on your situation. Use this vocabulary to ask good questions, not to make decisions.

Try it in your portal

Fill in the private purchase-price, date and seller fields, and upload receipts. Only you can see them. Export a dated snapshot when your tax pro asks.

Talk to your own CPA or tax preparer

How any sale is taxed depends on your situation. A CPA or tax preparer is the right person to ask. Choice Custom Collections does not give tax, legal or investment advice, and our consultations are not a certified appraisal.

Educational only. Not investment, tax or legal advice. Collectibles can lose value; past prices don't predict future ones.

Sources

Educational only. Not investment, tax or legal advice. Collectibles can lose value; past prices don't predict future ones.

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Last reviewed 2026-10-28 · Draft

109: How Selling Really Works