April 30, 2025 | 11:08 pm
TEMPO.CO, Jakarta - Withdrawing old banknotes from circulation is something of a common practice among global states. Even so, not all holders exchange their old banknotes and coins for the new ones, leaving some denominations to become rare collectibles.
Once the exchange period for the withdrawn banknotes has passed, these currencies can no longer be redeemed at banks—but their value often increases among collectors who appreciate their antique appeal.
That brings up the curious question: “How to sell rare coins?” Find the answer about five ways to sell rare coins, as quoted from DetikFinance and OCBC.
How to Sell Rare Coins?
1. Advertise on Social Media
Social media isn't merely a platform to connect with friends and family, but also a powerful tool to sell rare coins. To maximize your reach, be sure to take high-quality photos of the coins and use relevant hashtags to attract collectors and enthusiasts.
2. Showcase It on E-Commerce
With e-commerce now an everyday part of life, selling rare coins through online marketplaces has become one of the most practical and accessible options. Similar to social media, showcasing high-quality photos of your coins can significantly boost your chances of attracting buyers, alongside a detailed description.
3. Join Rare Coin Communities
Another effective method is to connect with rare coin communities, both online and offline. While it may require more effort, it's entirely doable—start by exploring local groups in your city or searching through social media platforms.
4. Directly to Collectors
If you have particularly rare or valuable coins, consider reaching out to individual collectors. You can find them through referrals, online platforms, or collector events. Selling directly to collectors often eliminates middlemen, allowing you to negotiate better prices.
5. Rare Coin Sellers
The last reliable option is selling your rare coins to rare coin sellers. As they usually have a deep understanding of market value, you’ll have no worries about the coins being appraised inaccurately.
Can You Sell Rare Coins to the Bank?
According to OCBC and DetikFinance, you can’t sell rare coins to a bank in Indonesia—at least not if you're expecting a markup or collector’s value. Banks, including Bank Indonesia, only exchange old currency at face value, and only if it's still within the official redemption period.
If the rare coins or banknote denominations you hold are still eligible under this period, you can exchange them for the new circulating currency of the same nominal value.
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