
Drexel Hill Rare Coin
About us
Drexel Hill Rare Coin is a full service Coin Shop where you can buy or sell individual coins to entire collections, we cover all areas such as U.S. and World coins, tokens and medals as well as paper money , stamp collections and collectibles.
Business highlights
Services we offer
Drexel Hill Rare Coin is a full service coin shop that offers many services from buying and selling all types of old coins, gold and silver to providing either written or verbal appraisals for individuals or estates. We routinely help collectors and investors assemble portfolios of rare coins and bullion for investment puposes. We maintain an inventory of quality key date coins for the collector as well as certified coins for the investor., paper money
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When my aunts and uncles found out about my interest they let me go though their and quot;loose changeand quot; jars some of which had been accumulating since the 30's. This is where I found some true treasures.
The collection had been accumulating dust since 1965.
On a lark I decided to find out what it was worth.
Looked for the top ranked coin dealer in the area on Angie's list. Drexel Hill Rare Coin was at the top.
Tony (the owner) looked at every coin, categorized it by type, quality and rarity. He took the time to explain how each coin was categorized. He then told me what he would pay me for them and what he would be able to sell them for. I thought the spread was very reasonable. The process took over two and a half hours.
Because of the way Tony went through the he process and was willing to take the time to explain each step of the process, I felt I could trust him.
I walked out of his store with over $1,500 in my pocket.
This is the second time I have used Angie's list and both experiences have been outstanding.
We brought in probably over 150 -200 different coins including some silver dollars, 50 cent pieces, dimes, nickels and old wheat pennies and un-,circulated sets of coins from different years. And some supposed collector sets of these types of coins as well. Some foreign coin sets were also included. And he also gave us some additional monies for some $2 Dollar bills with a Red Treasury Stamp on them as well as some Silver Certificates.-
For all of these coins and sets we were given a price estimate of their worth of approximately $1,100.00. Which we ultimately accepted and received from him.
While the person seemed honest in the sense that he clearly identified coins by their age which had higher silver content, after we left his place of business, my wife and I found ourselves wondering if we really got the true value of the coins which we and quot;tradedand quot; to him
The main issue which we faced and which many people in today's times face is the question of perceived value of coins and many precious metals in terms of their and quot;rarityand quot; or their age versus the Metallic weight content of these items. And after our visit to him, within the next few weeks, we saw postings on line and print ads discussing coins and their value. And we got to thinking maybe we got ripped off. Buyers Remorse or maybe Sellers Remorse?
So I guess in the long run, while we were in fact paid for what we left the dealer with, I honestly don't know if we got the highest or really good, or even true value for our coins that we could have gotten elsewhere. I think part of the concern that I have now in hindsight is that we did not get other estimates from other coin dealers and appraisers, before accepting his estimate as to perceived value.
And the other issue is that he was a and quot;dealerand quot; as well as a supposed collector. And I suspect if one can find a true collector (only), that they may be inclined to give more value for the age or the antique nature or rarity of a material rather than to its weight content.
For people who are going to get rid of old coins or metal collectibles, I would strongly urge you to do your homework and try and get some sense as to the value of them before hand. And get more than one estimate.
The issue which people face today as I said above is the debate between the value of gold and silver based upon their price per pound versus a perceived value based on the age or rarity of something because its age or classification as an antique.
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And I would consider using his services again, but I would probably get more appraisals from others before accepting a final offer to give him coins, or silver or gold objects. In fairness to him, he did say if he thought a gold or silver object had potential value, he could refer us to someone who handled antiques.
"As you can see by our other reviews from very knowledgeable and satisfied customers....at Drexel Hill Rare Coin we always make sure your buying or selling experience is as comfortable as possible. It is our policy to give explanations of how we arrive at our Buy and Sell prices to our customers using the most up to date resources available. We are very passionate about our craft and enjoy engaging in conversation explaining the different aspects of coins and paper money and their history to our customers during the buying process. Please remember we are a business so in order to stay in business we have to try to make a profit... often times as little as 3 to 5 percent. Certain items like common date low grade silver dollars, 50 cent pieces, dimes, nickels and old wheat pennies common proof and mint sets, $2 Dollar bills with a Red Treasury Stamp on them as well as some Silver Certificates are very low profit items that most collectors already have and therefore tend to take a long time to resell , we routinely buy lots of these items and know the market value . These inexpensive items are the types of things that mail order and internet mass marketers love to try and sell to unsuspecting " usually older" customers for excessive markups usually in fancy plastic cases claiming they are "rare". This in my opinion is unethical and makes for a potentially confusing situation when a potential buyer or seller of coins sees an ad in the Sunday T.V. paper or online for lets say 3 worn out buffalo nickels for $9.99 claiming they are "seldom seen" and "rare" lol , ... well I can sell you the same 3 coins for .15 cents each for a total of .45 cents for the same 3 coins they want $9.99 for . The only difference is I don't have the fancy holder and I won't be sending you coins "on approval" to try to hook you in. So the main issue buyers and sellers of coins face today in this world of mass marketing and information is how to sift through the large amount of information out there. Remember... just because someone asks a certain price for something doesn't mean it's worth that, it's only worth what the last KNOWLEDGEABLE person who knows how to use the available information was willing to pay. I can' t tell you haw many times people come in and say "I saw them selling coins like mine on t.v. for four times book value " and then someone else comes in and says "wow your selling these coins for a quarter of what they were charging on t.v. last night". I guess theres a two tier market in coins.... The small coin shop market where coins are bought and sold for close margins and modest markups giving the buyer and seller a good value.....and then the COMMERCIAL market where only the SELLER benefits from overpriced common merchandise purported to be "rare" I guess my advice to all potential buyers and sellers of coins would be to find a dealer you can talk to as if you were talking to a friend or neighbor , if he is open to give information about his craft he is likely to be honest and fair in his dealings, remember it takes many years to become a "coin expert" a couple of weeks or months casually glancing at the internet or print ads does not make an expert. As I am not afraid to discuss your coins while evaluating them for purchase you should not be afraid to ask questions while selling or buying coins as you will feel better about your experience later on allowing you to evaluate your experience with more accuracy and fairness. Drexel Hill Rare Coin ...Life Member American Numismatic Association"
Tony treated me with respect and provided an education along the way. He did not take the coins, go into the back and then come forward with an estimate. He took his time going coin by coin explaining exactly what I had, why or why not it was of value and finally telling me which coins he would offer the same value as the bank.
When I left, I felt a little smarter and didn't feel like I had been taken advantage of.
I will definitely go back with confidence that I will receive the same treatment again.
Thanks Tony, I appreciated the time you took with me that day.
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