Collecting coins is an incredibly popular, and historic hobby. Coins naturally make great collectibles, but can also be very valuable too. But what makes a coin valuable? The law of supply and demand. The rarer the coin, the more valuable. How do you determine what your coins are worth?
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 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.
There are certain publications that a coin enthusiast can use to know how much coins generally are in the market. A good reference that both the dealer and collector can use is the US Coin Redbook.
In most guides coins are grouped into two price categories: retail and wholesale prices. Naturally, dealers tend to use wholesale prices when dealing in bulk or with one another. Retail, as you probably know is a higher price dealers charge collectors.
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 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.
There are certain publications that a coin enthusiast can use to know how much coins generally are in the market. A good reference that both the dealer and collector can use is the US Coin Redbook.
In most guides coins are grouped into two price categories: retail and wholesale prices. Naturally, dealers tend to use wholesale prices when dealing in bulk or with one another. Retail, as you probably know is a higher price dealers charge collectors.
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 article on how to establish coin values was brought to you by Jim Moffett, who's recent ebook The Numismatist Guide, introduces you to the hobby of collecting coins.
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