Don't spend money collect them


Understanding Coin Price Guides

There are many coin price guides published;that the Grade that YOU decide upon, is the
weekly, bi-weekly, monthly and annually.True or Accurate, and that such Grade is
They come in the form of magazines,based  on  the  ANA  Standards.
newsprint, "hot sheets", and books. All of
us have referred to one of these from time toThe first difficulty that arises is that most
time to ascertain what a particular coinpeople never know if the Grade that they have
might be worth. Yet, few of us stop to thinkdecided upon is Accurate. Of course, this
about what we are getting from any one ofdifficulty never comes into question, if the
these Price Guides, beyond the price or valuecoin is Professionally Graded by an
of a coin. After all, don't price guides,appropriate company. There are only four (4)
just  give you the price? What else is there?reputable Professional Grading companies that
strictly follow the Guidelines set by the
Basic to an understanding of price guides areANA, and they are: PCGS, NCG, ICG, and ANACS.
two things: 1) the Grade of the Coin; and 2)
the Foundation of the price guide. KnowingThe second difficulty arises because of this
the Grade of the Coin is required before one"silent assumption" or Foundation of all
can begin. Saying so seems to be obvious, butprice guides is whether or not the Grade has
what  more  does  it  mean?been decided upon using the Guidelines or
Standards established by the ANA. If you
Unless the coin is Graded by an appropriatedon't have the skills and training of a
Professional Grading Company, which hasprofessional coin grader, the decision is
designated what Grade and Identity has beenprobably  questionable.
assigned to the coin, most of us are making
an assumption about the actual Grade. ThisEven if you do have the skills and training
assumption we make can be very dangerousof a professional coin grader, the decision
because of: a) the difficulty in grading ais still probably questionable. Why? Because
coin; and, b) the different possible outcomeseven professional coin graders have differing
or results that occur. One Grade "point" oropinions. This is why the reputable
level can make the difference in hundreds orprofessional coin grading companies require
thousands  of dollars in the Value of a Coin.the opinions of three (3) professional coin
graders to arrive at the "Grade" designation
Price Guides assume that YOU already Know theto  be  placed  on  every  coin.
Grade of the Coin. This is why we have the
First Rule of Coin Collecting: Know the GradeThe obvious conclusion is that a Serious Coin
of  Your  Coin.Collector is going to invest in rare and
modern coins that are graded by one of the
Secondly, ALL Price Guides are founded on theTop Four reputable Grading companies. It is
same Principle, which is that the Coin, whosethe only certain way to eliminate the
price you are looking up, has been Gradeddisagreements and arguments about the Grade
using one Grading Standard. That Gradingof Any coin being Bought or Sold! It is the
Standard is set by the ANA - Americanonly certain way one can Value their coin
Numismatic Association - and is entitled thecollection. It also eliminates "getting
Official  Grading  Standards  For  US  Coins.taken"  or  cheated  buying  raw  coins.
Therefore, ALL Price Guides have a "silentHave fun collecting your Perfect Coins!
assumption" built in to their guide; which is



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