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