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?
Finding out what your coins are worth isn't always an easy undertaking. The easiest method would be to take your coin to a few different dealers and have them appraise your coin or collection. Many dealers will gladly appraise coins for free, because they're usually eager to buy valuable coins.
Another good method is to ship your coins out to a professional grading service. Having these services appraise your coins will almost always come at a cost, but having an accurate value for your coins or collection may be well worth it.
A third, but slightly less reliable method of pricing your coins is to turn to a price guide. The most famous pricing guide used is the US Coins Red Book .
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.
Finding out what your coins are worth isn't always an easy undertaking. The easiest method would be to take your coin to a few different dealers and have them appraise your coin or collection. Many dealers will gladly appraise coins for free, because they're usually eager to buy valuable coins.
Another good method is to ship your coins out to a professional grading service. Having these services appraise your coins will almost always come at a cost, but having an accurate value for your coins or collection may be well worth it.
A third, but slightly less reliable method of pricing your coins is to turn to a price guide. The most famous pricing guide used is the US Coins Red Book .
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 establish collectible coin values was brought to you by Jim Moffett, who's recent ebook The Numismatist Guide, introduces you to the hobby of coin collecting.
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