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