| p>Knowing coin collecting prices is important | | | | factors that affect coin collecting prices. Here are |
| information for the coin collector. This information | | | | some additional variables to consider: |
| is useful for several reasons, including knowing | | | | Identification - country of origin, the face value, |
| what price to pay when buying coins or what | | | | date and mintmark if any, the design. If the coin |
| price you will receive when selling your coins. | | | | has no face value, it may be only a token or |
| There are many variables that determine a coins | | | | medal. |
| value, but ultimately it is determined by what | | | | Authenticity - must be established by an expert |
| someone is will to pay for a given coin. By having | | | | and is mandatory for rare coins. |
| the proper resources and conducting research for | | | | Grade - the overall condition of a coin, whether it |
| specific coins you will be able to determine the | | | | is mintstate (new) or circulated (used.) |
| general price of a coin. | | | | Coin cleaning and other damage - coin must not |
| Most of us begin building our coin collections with | | | | have been tampered by cleaning or polishing, |
| limited resources. We may establish a specific | | | | corroded, scratched or altered |
| budget of what we are willing to spend during a | | | | Bullion value - the value of the precious metals the |
| given period of time, yearly, monthly, or per coin | | | | coin is made of. |
| for example. As we build our collections and start | | | | Where do you find information on prices? Well the |
| purchasing higher value coins knowing the price of | | | | good news is that it is much easier today than it |
| coins becomes very important in order to plan | | | | was in the past. As with most things, the internet |
| our purchase and stay within our budgets. | | | | has reshaped coin collecting pricing making it easier |
| Maybe we are interested in a particular type of | | | | for even the most novice collector to stay up to |
| coin, or building an entire collection centered | | | | date on the latest coin prices. |
| around the coins of a specific country. By knowing | | | | Traditionally Price Guides were used to research |
| the price of coins in advance we will know what | | | | prices, and many are still used today. Price guides |
| we can afford and what we will have to save in | | | | will allow you to determine the typical going prices |
| order to purchase a certain coin. Likewise, there | | | | for a particular coin type or series. There are |
| may come a time that we want to sell our | | | | several coin price publications available. |
| collection, or more likely, sell a specific coin we | | | | - The Standard Catalog of World Coins by |
| have in our collection. Again, having the | | | | Chester L. Krause and Clifford Mishler - consist of |
| information available to us about coin collecting | | | | four volumes, each covering a different century |
| prices will be helpful when we sell. | | | | from 1601 to 2000, identifying and listing prices |
| Like any commodity, coin prices are subject to | | | | for coins from around the world. |
| the law of supply and demand. Supply refers to | | | | - A Guide Book of United States Coins - published |
| how many coins are available in the marketplace, | | | | annually; commonly used retail price guide with a |
| and demand tells us how many coin buyers are in | | | | wealth of other useful information. |
| the marketplace looking for a particular coin. A lot | | | | - Coin World, Coin Prices and Coin Age - contain |
| of rare US coins have a high demand because | | | | frequently published retail prices for U.S. coins |
| many collectors want them as part of their | | | | - Coin Dealer Newsletter - known as "the |
| collection, but there were only a few minted and | | | | Graysheet", the major price guide in dealer to |
| therefore the price for these coins will be very | | | | dealer transaction; |
| high. | | | | - A Handbook of United States Coins - known as |
| During the past year or so the demand for gold | | | | "the Blue Book," is another guide for dealers who |
| has increased as investors look to protect their | | | | buys U.S. coins from the public |
| assets against inflation and the current economic | | | | - Numismatic News publishes prices for all 3 levels |
| crisis. This demand for gold has also pushed the | | | | (dealer buy, bid and retail). |
| prices for gold coins higher...more buyers than | | | | You can find these publications and others that |
| availability. | | | | deal with coin prices in libraries, bookstores and |
| Apart from supply and demand there are other | | | | coin shops. |