by kd1s

The Parameters Used by Coin Dealers to Ascertain Coin Value

When someone becomes interested in collecting coins they look for places and people who will be able to sell, and in some cases advise them about, coins. The best people to look for when you want to buy coins for a coin collection are coin dealers. These people are also interested in coins but their interest does not necessarily extend into collecting these coins.

A coin dealer will actively look for various types of coins. They will make sure that the quality of all the coins that they are thinking of buying is of a high quality. The grading of coins that is used will be looked into as well before the coin dealers agree to buy any coins. These coin dealers will also buy the coins only at the current market prices as coins are valued at the time of inspection.

When the coin dealers have found the various coins that they feel will be of good value and interest to coin collectors the coin dealers will make sure that they have the information about their new stock noted down. This information will include the country of origin, the year that it was minted, the condition of the coin, the current market price and a brief history of the coins if it can be found.

All of these items are of value to the coin collector because it helps them to understand the value of the various coins that they are interested in buying. Coin dealers usually buy their coins from rare coin auctions, internet coin shops, coin collectors who are interested in selling their coins for a profit and fairs where coins are sold in packets. From these places the coin dealers have a good chance at selecting good value coins that they will be able to sell to coin collectors who are interested in those coin types.

In some cases you can find coin dealers who have specialty coins only. These could be coins from one period of time. For instance you will find coin dealers who stock civil war coins or colonial coins. There will also be coin dealers who have lots of experience in dealing with foreign coins. These coins too will be looked at to make sure that they are in a condition that will invite coin collectors to come and look at the stock.

When you are in need of having your coins valued you will generally want a reputable coin dealer looking at these coins. The knowledgeable coin dealers will be able to give you a fair price for the different coins in your collection unless the coins are worthless, in which case you can just chalk these coins up to a way of learning about coins and how coin dealers rate them. After all with so many coins to collect, you’re bound to find some coins in your collection that aren’t worth as much as you thought they were.

by uhuru1701

What Affects the Value of a Coin ?

When you are just beginning in coin collecting, often a big question is: “What is the value of my coins?

The answer is that the coin will cost as much as you are willing to pay for it and that amount can vary greatly.

For example, a coin dealer’s offer can be considerably less than a coin collector that really wants your coin badly to add in his or her collection.

Here are some factors that go into finding the true value of a coin.

Grade or condition of the coin. Your coin will be worth or valued more, when it is in good condition. When in a perfect or unblemished mint condition, an “uncirculated” coin will be worth many times more than a similar coin that has been in circulation.

The rarity of a coin is the principal basis for a coin’s value. Generally, the rarer that a coin is found to be, the higher it is priced. Do keep in mind that rarity has very little influence on the coins age. Chinese coins are a thousand years old, yet they normally sell for about ten dollars, since there are so many of them.

On the other hand, a “1913 Liberty Head Nickel” can sell for up to or over a million dollars because only five specimens are known to be in existence.

What is the Demand? There are coins that are greatly in demand; meaning they are sought after by many collectors. If a particular coin is in great demand, the price will be even higher. Even comparatively plentiful coins can mandate higher value, when they are popular with coin collectors.

For example, “1916 D dimes” are much more common than the “1798 dimes” yet in spite of this, “1916 D dimes” sell for so much more, because there are many more individuals collecting 20th century dimes than 1700 dimes.

Coin Bullion value. A coin’s precious metal content can help determine its value. A platinum, gold or silver coin will not, in general sell for less than the coins value when melted.

Here’s how you can determine the approximate value of your coin:

Grade your coin based on your thorough observation and examination of its current condition.

Consult coin catalogs for a list of retail prices in the market or estimates of your coin’s retail value. “A Guide Book of United States Coins”, popularly known as “The Red Book” to coin dealers and collectors, provides information on retail coin prices for US coins and is available in libraries, coin shops and bookstores.

“The Standard Catalog of World Coins” (in volumes) is a guide commonly used by coin dealers and collectors as well, to provide information on world coins and is available in many public libraries.

You can also check current coin prices by basing it on the actual dealer coin price found in magazines and newspapers or online auctions such as Yahoo, Coin World, eBay or Teletrade.

Always keep in mind that you are not collecting coins primarily for money; you collect for enjoyment and self gratification, and profit is to be last consideration. The plain fact that a certain coin does not have a large monetary value, does not necessarily suggest that it is no longer interesting or fascinating or that it must not be included in your collection.

Each coin will have a certain interest in itself, regardless of the condition that it is in and regardless of its monetary value. There will always be a certain characteristic that will draw you to that particular coin And when it does, then you should have it in your collection.

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Coin Collecting : How to Determine the Value of a Coin

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