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?
Appraising the value of a coin is not always easy. Your best bet would be to take the coin around to several different coin dealers to have it appraised. Most dealers will appraise coins for free, especially if they're interested in buying them.
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.
Appraising the value of a coin is not always easy. Your best bet would be to take the coin around to several different coin dealers to have it appraised. Most dealers will appraise coins for free, especially if they're interested in buying them.
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 establish coin values was brought to you by Jim Moffett, who's recent book The Numismatist Guide, introduces you to the wonderful world of collecting coins.
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