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Community Highlights: Meet Wyatt McDonald of Coinfully

Today we’d like to introduce you to Wyatt McDonald.

Hi Wyatt, we’d love for you to start by introducing yourself.
In coins, it usually seems like people are brand new or have been here since they were pups, and I am in the latter group. The gift that started my career was going on the road with my mother, Debbie McDonald, when I was just a kid. Debbie was a top rep for the country’s premier numismatic auction company at the time. Now she works with us. The invaluable experience that started in those early years put me on a fast track to where I am now. Running around polishing display cases at coin shows as a fourteen-year-old in a suit and tie and learning about numismatics is the beginning I wouldn’t trade for anything. In-between then and now, through American Numismatic Association training and extensive work with the public at coin shops, I gained the deep domain expertise needed to launch Coinfully, which offers a painless and convenient way to sell your coins for the highest price online. We are a family business. I run Coinfully with my brother Travis who has also had a storied career in coin dealing – and we strive to extend those family values to our clients. We aim to use our experience to give the public a hassle-free way to value and sell their coins through a simple online appraisal process. We are proud to say that Coinfully is also an official member-dealer in the rigorously vetted ranks of the American Numismatic Association, The Professional Coin Grading Service, and The Numismatic Guarantee Corporation.

Would you say it’s been a smooth road, and what are some of the biggest challenges you’ve faced along the way?
In general, the road has been extraordinarily smooth. Any startup begins with many assumptions about what the business will look like. Beliefs that you are constantly putting to the test and dispatching with if not useful. It became clear that we were correct on one major idea, that the coin-selling public was thirsty for an easier and more profitable way to sell their collections. Just looking at the Coinfully reviews on Trustpilot makes this abundantly clear. I would say the most significant challenge was transitioning from a traditional numismatic career to our unique modern approach to the field, as some rewiring had to occur. In traditional coin companies, you are trained to pay clients as little as possible and keep the coins in your inventory until you find a motivated retail buyer. This results in unhappy sellers and aging inventory sitting in your vault. At Coinfully, our low overhead and tech-enabled processes enable us to make top-of-market offers and sell to eager buyers in a snap. We can move more efficiently than anyone else and pass those savings to our clients.

Great, so let’s talk business. Can you tell our readers more about what you do and what you think sets you apart from others?
Coinfully offers a no-pressure approach to coin dealing, with market-leading offers for your collection via a simple online appraisal. Our family-run business specializes in inherited and large coin collections and operates with complete transparency. Our appraisal process is easier and more lucrative for sellers than the market has ever seen. And that’s what we’re all about, making it as simple as possible for people to get their coins appraised. Let’s say you’ve inherited a coin collection from your grandfather that you’re planning to sell. You know he loved his coins, and you want to give them to someone who will appreciate them as he did. If you go online, you’ll find hundreds of coin appraisers offering top dollar for the collection. But when you get down to it, they might tell you the condition’s not quite what it should be and give you a lowball offer. Some people take that because they don’t want the hassle of finding another appraiser. That’s not what we’re about. We talk customers through the valuation process, so they understand how we’ve arrived at the figure we have. The other major difference between ourselves and some of our competitors is that we do almost everything online. We regularly hear of people hauling their coin collections halfway across the country or sending them off for appraisal, but that risks damaging the coins and causes maximum inconvenience to the customer. We developed a three-step clear appraisal plan to ensure customers get a market-leading price without needing to parcel up their coins and place themselves at the mercy of a postal or courier service or watch their valuable coins roll about in their car trunk as they drive 500 miles for a disappointing offer. Once you accept our offer, your coins are fully insured by Lloyd’s of London while in transit.

With larger collections, we travel to the customer at our own expense and appraise their coins in the comfort of their home. That’s the ultimate hassle-free way of getting your coins appraised. No risk, no need to move your coins. We’ll come along and do everything for you. People don’t know if they should clean the coins or even handle them at all. We’re happy to share our knowledge to guide them and ensure they get the best price for their collection. The problem is people like to jump on the internet and try and value their coins for themselves, and often there’s a lot of bad information out there that’ll confuse them or get their hopes up unnecessarily. So we created an instant value guide that tells them if their collection is valuable in about five minutes. Educating people about coins is a real mission for us. Sharing that knowledge is important in terms of how we operate. We don’t want people to feel like they’re in the dark on appraisals. We want them to enjoy understanding why their collection is worth what it is as we do.

What matters most to you?
Truly, building something that makes people’s lives easier, it’s exhilarating. Coin trading of one kind or another has existed for thousands of years. It’s not hard to create a business to make money off of coins. What compels me is discovering a new way. Our service takes detailed steps to be ethical, efficient, and equitable to sellers, and I am proud of the modern numismatic service we have entered into the field.

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