Cashing In Donations

Today TaxMama hears from Marie in Texas, with a quick question. “Our church members are donating personal items of jewelry, coins and other valuables.
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What is the best procedure to turn these items into cash?”

Dear Marie,

That’s an interesting question.

Let’s see…here are some ideas:

  • 1) Make arrangements with local jewelry and coin shops to buy them from the church or to accept them on consignment.
  • 2) Do some research to see if any larger, national shops might be willing to give you a better price.
  • 3) If anyone on the church’s Board is up to it, visit jewelry and coin shows and spend some time learning how to get the best price.

    It could be fun.
  • 4) Arrange a semi-annual fund-raising auction.
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    It would be fun, and you’d probably get more money for the items.
  • 5) Put them on eBay or
  • 6) Talk to a major auction house, like Christie’s and see if they will sell them for you.Now, add some ideas of your own and see what happens.

    This could be a fun and lucrative opportunity for the church – and perhaps a great way to get the community involved.

    And remember, you’ll find answers to lots of questions about non-profits and other tax information, free. Where? At

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