Why You Need To Consider Your Coin Collection Value
Jan 28th, 2011 by Aldouspi

Why You Need To Consider Your Coin Collection Value

The coin collection value is the most important aspect of coin collecting for most collectors. Many people regard coin collecting as an investment, so they need to be updated with market demands. In general, the valuation of a particular coin depends on its condition, mint rarity and denomination which is why collectors must build up their knowledge in these areas.

 There are many price guides which are used for referencing by coin collectors. “The Standard Catalog of World Coins” by Chester L. Krause and Clifford Mishler manage to cover coins starting from 1601, all the way down to the present time in five volumes. In the book, coins are identified and their prices are listed.  When trying to determine my coin collection value I have often referred to this publication and can personally recommend it as a good source of information.

A guide book for United States coins called the “Red Book” is published annually and is also a respected authority as a retail price guide. The “Blue Book” and the “Black Book” are also well established price guides to determine the value of a coin and thus the coin collection value. The “Coin Dealer Newsletter”, more popularly known as “the Greysheet”, is a price guide for coin dealers. The Numismatic News publishes prices for dealers, bidders and retailers. There are even online resources which maintain prices of coins like the “NumisMedia” website and a price guide for U.K. coins maintained by Tony Clayton can be found on his personal website.

As a rule rare coins are more expensive but rarity does not necessarily have to do with the age of the coin. Some Chinese coins which might be a thousand years old do not sell at high rates because they are common. The price of the coin also depends on the demand for the coin. If a lot of collectors want a particular coin, its price will get higher.

Collectors must also think about grade when establishing their coin collection value. Coin grading is a method of assessing the condition of the coin – the grade of the coin has a high determination of the eventual valuation of the coin. If a coin has been damaged its price will be reduced. Similarly, bullion also plays a role in determining value – the presence of precious metals like Gold and Silver increase the price of the coins as well. The aesthetical appeal of the coin has an effect on its price as well; it makes the coin more attractive for the collector. The American Numismatic Association has a 1-70 range for assessing coins, where 70 represents a faultless coin. The Numismatic Guarantee Corporation (NGC) and the Professional Coin Grading Service (PCGS) are two organizations that go through the meticulous task of grading coins. Coins that have been certified by these reputable organizations have a higher value as their authenticity is more valid and reliable. ICG, Independent Coin Grading, and ANACS, handled by the American Numismatic Association are two other reliable grading services available.

Many people have accumulated tables of coin values which show coin collectors the values of particular coins – these tables can be built up over the course of a lifetime and can prove invaluable when establishing the coin collecting value; they give the collector the knowledge regarding which coins are worthy to be collected. There are also lists of coins worth collecting available with coins that are scarce ranked considerably higher. For example the 1909-S VDB Lincoln cent would be one of these coins. Items such as the legendary 1913 “V” nickel can be worth over 0,000. These hefty prices show why so many investors are willing to invest in coin collecting and expect high rates of return to their investments.

 

Jamie Singer has been collecting coins for a little over 20 years now. He has built up a large collection containing some of the most rare coins to be found. During this time he has built up a wealth of knowledge which he is now sharing on his website http://www.coincollectingrevealed.com/

For more information on the coin collecting value make sure you visit his website.

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The Perfect Time to Sell Coins
Dec 8th, 2010 by Aldouspi

The Perfect Time to Sell Coins

When is the perfect time to sell coins? This may be a dumb question if asked of a coin collector however timing really does make a difference. There are times when a collector wakes up in the morning and suddenly makes a decision to sell his precious collection of coins. There are also times that a collector needs to give up his coin collections due for personal reasons and the idea of selling his precious coins may be the most difficult part. No matter what the reasons are, it is a fact that this does occur in the life of a coin collector.

There are many reasons why coin collectors sell their coins – there are coin collectors who are dealers at as well. Selling coins is their option and they may use it to generate income so that they can acquire other coins that they like.

Some collectors travel in search of a coin they want and during that travel, they may encounter coins that may not be qualified for their own collection but they buy them anyway. Upon returning home, they sell the coins they have purchased and make use of the money to buy the coins they are looking for.

There are also coin collectors who gather coins not just as their hobbies; these coin collectors use the coins as their source of income. They make a living from selling the coins that they collect. Sometimes they sell the coins to other collectors and price them higher than the usual price of the coins and this is appropriate if the collector owns limited edition or rare coins.

On the other hand, some collectors sell their coins because of other factors. They may sell coins because of personal reasons. Collectors sometimes decide to “give away” their collection because they no longer have any option but sell their coins. This is the most difficult situation for coin collectors as they often value their coins and as much as possible would not want to give them away – the coins may be memorabilia or may have sentimental value to the collector.

Once a collector has decided to sell his coins, he must consider if it is really the right time to sell the coins. Is the collector ready to give away his coins? Is the coin at higher price now? Will it do well and will he benefit from selling his coins? These factors should always be considered.

There are other options available to determine where a coin collector could sell his coins. He may want to sell the coins at auctions. Many people now prefer the option of putting their belongings up for auction and this is not limited to coin collections.

There is also a higher chance of having the coin sold at a higher price since auctions include bidding processes. Buyers may bid for a higher price especially if the coin being sold is of rare quality and has a higher value.

A collector may also want to put up a website to advertise the coins that he would like to sell. The Internet is the easiest way for collectors to search for coins. In addition, putting the coin on the Internet will make the selling an easier task. The collector may put up his own website and place the pictures of his coins and some brief descriptions on it. He should also note how much he is willing sell them for.

There are other options too: the seller may want to do a dealer-to-dealer negotiation. He can go directly to coin dealers and sell his coins. The dealers then can sell the coins that they purchased to other dealers.

It is important to compare prices between one dealer and another as there is always a chance that one dealer may buy the coins at a higher price than other dealer. It is wise to shop for dealers and then decide which you one you want to deal with.

It is also recommended that collectors who decide to sell their coins use a coin grading service. It is very important so that the seller not end up a loser when he sells his coins. By using a grading service, the seller will be able to set a price that is based on the assessment made by the grading service who will determine the actual value of the coins.

Most importantly, coin collector should not clean their coins once they have decided to sell them. If they do, the value of the coins will depreciate.

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