| When one is just starting in coin collecting, often the | | | | classify your coin, and know the to place value on |
| first question is: "What is the value of the coin?: and | | | | that coin. You can do this successfully by examining |
| the answer is that the coin will cost as much as you | | | | your coin in a catalogue or online with the "coin price |
| are willing to pay for it and the amount can vary | | | | guide"; this will give you an idea of the going rate and |
| considerably. For instance, a coin dealer's offer can be | | | | price of your particular coin and you can determine |
| much less than a coin collector that certainly wants | | | | the approximate value of your coin. |
| your coin badly to add in his collection. | | | | Everyday coin values are changing; so you need to |
| The following are factors that can influence the true | | | | use a "coin price guide" that is updated on a daily |
| value of a coin. | | | | basis to obtain the current coin value. Look at online |
| 1. Grade or condition of the coin. Your coin will be | | | | sites that offer step by step guidance on how to |
| worth or valued more when it is in good condition. | | | | recognize your coin the proper way. |
| When in a perfect or unblemished mint condition, an | | | | 2. Grade your coin based on your thorough |
| "uncirculated" coin will be worth many times more | | | | observation and examination of its current condition. |
| than a similar coin that has been in circulation. | | | | 3. Consult coin catalogues for a list of retail prices in |
| 2. The rarity of a coin is the principal basis for a coins | | | | or estimates of your coins retail value. "A Guide Book |
| value. Generally, the rarer that a coin is found to be, | | | | of United States Coins", popularly known as "The |
| the higher it is priced. Do keep in mind that rarity has | | | | Red Book" to coin dealers and collectors, provides |
| very little influence on the coins age. Chinese coins | | | | information on retail coin prices for US coins and is |
| are a thousand years old normally sell for about ten | | | | available in libraries, coin shops and bookstores. "The |
| dollars since there are so many of them; while a | | | | Standard Catalog of World Coins" (in volumes) is a |
| "1913 Liberty Head Nickel" can sell for up to or over a | | | | guide commonly used by coin dealers and collectors |
| million dollars because only five specimens are known | | | | as well, to provide information on world coins and is |
| to be in existence. | | | | available in many public libraries. |
| 3. Bullion value. A coin's precious metal content can | | | | You can also check current coin prices by basing it on |
| determine its value. A platinum, silver or gold coin will | | | | the actual dealer coin price found in magazines and |
| not, in general sell for less than the coins value when | | | | newspapers or online auctions such as Yahoo, Coin |
| melted. | | | | World, eBay or Teletrade. |
| 4. Demand. There are coins that are greatly in | | | | Always keep in mind that you are not collecting coins |
| demand; sought after by many collectors, and if that | | | | primarily for money; you collect for enjoyment and |
| a particular coin is in great demand the price will be | | | | self gratification, and profit is to be last consideration. |
| even higher. Even comparatively plentiful coins can | | | | The plain fact that a certain coin does not have a |
| mandate higher value when they are popular with | | | | large monetary value, does not necessarily suggest |
| coin collectors. | | | | that it is no longer interesting or fascinating or that it |
| For instance, "1916 D dimes" are much more | | | | must not be included in your collection. |
| abundant than the "1798 dimes" yet in spite of this, | | | | Each coin will have a certain interest in itself, |
| "1916 D dimes" sell for so much more because there | | | | regardless of the condition that it is in and regardless |
| are many more individuals collecting 20th century | | | | of its monetary value. There will always be a certain |
| dimes than 1700 dimes. | | | | characteristic that will draw you to that particular |
| Here's how you can determine the approximate value | | | | coin; so when it does, then you should have it in your |
| of your coin: | | | | collection. Have fun! |
| 1. Properly, accurately, and correctly recognize and | | | | |