Coin collecting is a very popular hobby. Not only are coins a great collectible, they can also be quite valuable as well. What determines the value of a coin? As with most things in life, the law of supply and demand. How do you tell whether your coins are rare, and thus valuable?
Determining the value of a coin can be a difficult task. The best way would be to bring you coin to various coin dealers to be appraised. This is usually free especially if you tell them you want to sell the coin.
Another option would be to send your coins to a professional grading service. Appraisals by these services aren't free, but knowing the true value of your coins may be well worth a small fee.
There are also several publications coin collectors use to find the market price of coins. The publication, the US Coins Red Book is the publication dealers and collectors use most often.
Most guides give coins two different values: the retail and wholesale prices. Dealers or distributors usually use wholesale prices when dealing in large quantities or with other dealers. The retail price is the higher price that dealers charge you, the collector.
As with many other types of collections, coin collections can be incredibly valuable. As a collector, it's crucial for you to know not only the value of your existing collection, but also any coins you may want to add to your collection.
Determining the value of a coin can be a difficult task. The best way would be to bring you coin to various coin dealers to be appraised. This is usually free especially if you tell them you want to sell the coin.
Another option would be to send your coins to a professional grading service. Appraisals by these services aren't free, but knowing the true value of your coins may be well worth a small fee.
There are also several publications coin collectors use to find the market price of coins. The publication, the US Coins Red Book is the publication dealers and collectors use most often.
Most guides give coins two different values: the retail and wholesale prices. Dealers or distributors usually use wholesale prices when dealing in large quantities or with other dealers. The retail price is the higher price that dealers charge you, the collector.
As with many other types of collections, coin collections can be incredibly valuable. As a collector, it's crucial for you to know not only the value of your existing collection, but also any coins you may want to add to your collection.
About the Author:
This post on how to determine coin values was brought to you by Jim Moffett, who's new ebook The Numismatist Guide, introduces you to the wonderful world of collecting coins.
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