Exploring the Value of Old Pre-Decimal British Pennies and Where to Sell Them

Have you ever picked up an old pre-decimal British 1d (penny) coin that caught your eye? With the rise in scrap metal prices, these coins might seem like treasures, but are they really worth the effort to sell them? This article will explore the current value of these old pennies, focusing on whether you should try to sell them through eBay or a scrap metal merchant, and highlight the best practices for maximizing their value.

Current Value of Old Pre-Decimal Pennies

Recent news on scrap metal prices has revealed that these old pennies are actually worth approximately 3.7p (pence) per coin. This discovery has sparked curiosity and debate among coin collectors and enthusiasts. However, it’s important to note that this value is based on the copper content within the coin, which has become increasingly valuable due to recycling trends.

Why Selling via eBay Might Be More Beneficial

While the scrap metal price might be intriguing, selling your old pre-decimal pennies on eBay could yield much better results. eBay auctions and marketplaces offer a more realistic valuation of these coins based on their historical and collectible value. The price of 3.7p per coin through scrap metal dealers is often lower than what collectors are willing to pay for them.

Steps to Sell Old Pennies on eBay

Assessment: Evaluate the condition of your pennies. Clean them properly and remove any dirt or rust to make them look better for potential buyers.

Research: Look up similar items being sold on eBay and note the price ranges. This will help you set a competitive price for your pennies.

Create an Auction: Create a detailed listing with clear photos and accurate descriptions of the pennies. Include your contact information and specify the terms of sale.

Listing: Set the duration of your auction and decide whether to offer a reserved price. This can help you secure a better price for your coins.

Promotion: Promote your listing through social media, forums, and other online communities for coin collectors. A strong marketing strategy can increase your chances of securing a good price.

Transaction: Wait for bids. Once you receive a bid that meets or exceeds your expected selling price, complete the transaction.

Alternatives to Selling Through eBay

If you don't want to go through the hassle of setting up an eBay listing, there are other options available:

Local Coins Collectors: Reach out to local coin collectors or dealers in your area. They may be interested in purchasing your pennies for a higher price than scrap metal dealers would offer.

Special Interest Groups: Join online forums or community groups dedicated to coin collecting. These groups often have members who are willing to buy old pennies.

Specialized Websites: Some specialized websites for coin collectors might offer a better price. However, these sites often have their own auctions and listings, so thorough research is required.

Conclusion

While the current scrap metal prices of 3.7p for old pre-decimal British pennies are tempting, you should consider the potential for higher values on eBay or through specialized collectors. The key to maximizing your profit lies in proper assessment, research, and marketing. Whether you decide to sell individually or in bulk, taking the time to do it right can significantly improve your returns.

FAQs

Q: Can I obtain 3.7p for old pre-decimal pennies through scrap metal merchants?
A: Yes, but the price is often lower due to the weight and volume of copper. It’s typically more advantageous to sell through eBay or to collectors.

Q: How long should I wait for bids on eBay?
A: Most eBay auctions are set to last for 7 days. Adjust this depending on demand for your coins.

Q: Are there any risks when selling old coins?
A: There is always a risk of scams, so verify the identity of buyers and sellers. Use secure payment methods to minimize risk.