Old and rare coin prices
Rare and Old Coins
What do you do when you find old coins? You can either add them to your collection album, or find out coin prices and sell them to get money. If you're an avid collector of coins, you may not want to sell this precious stuff. But, you can still read this and tell it to your friends who may come across such coins and may want to make some profit. Those who see coins and think of dollars must read on to become a smart seller of coins.
US 1 cent 1793
Dig this: it's a complex thing to calculate old coin prices. You need to take into account various things like: the year of the coin, the number of scratches it contains, the number of mint marks on its surface, and other errors. The older the coins, the more difficult it is to find their value. This is because the rarity, bullion values, demand, and design values have a role to play.
The safest way to find value of ancient coins is to hire an expert collector who is well-versed with the market and has been in this for quite a long time. He or she would know about the coins by looking at them. Such people get an idea of coin prices just by glancing at it. After scrutinization, they can tell you what marks render what value, what years have more value, and what the importance of a particular error is.
Here is a trick: you must not believe what you can pay for the coins. Believe what others would pay. It's common to see people overpricing or underpricing the coins.
Rarity is one thing that most of the experts take into account when dealing with ancient coins. This is because such coins are no longer produced. Besides, an increasing number of such coins get misplaced every year. This further decreases their number in the world and makes them rarer. Although no one on this earth can tell you how many of such coins exist at that moment, but their rarity has much to do with the coin prices. Some of the rarest coins have exorbitant costs.
For example, Chinese coins that are 1000 years old can cost less than rare error coins that are 50 years old. This is because the former are found easily. The value of the latter can be in thousands of American dollars. This is how the rarity factor affects the coin prices, irrespective of how old the coins are.
Owning rare coins is getting common. What an irony! But, looking at the popularity, you must take care while dealing with such coins. This is because when the demand rises, there are bound to be swindlers in the scene. So, when you wish to find out the value of your new found treasure, head straight to a reputed collector or an expert who has been dealing with metal coins for a long time. Never trust anyone other than these people. Most experts would happily provide you information about coins, free of cost.
How To Know An Old Coin's Value?
Coin prices are different. The value of coins is different. But many people mistake it to be the same. As a numismatist (collector of coins), you must know the difference. Only then can you calculate the true value of the treasure you have.
The price of coins depicts the number of dollars you've spent on buying them. On the other hand, the value of coins indicates the price at which you'll be able to sell them.
Log on to the internet and you can find coin collecting prices with ease. With most dealers going online with their quotes and information, knowledge about coins is just a few clicks away.
Price And Value
The retail price of coins refers to the rate at which the dealer would sell you the coins. There are several factors that affect coin prices. The two major factors are the rarity of coins and their current demand. Also, the type and grade of coins affect the price. If you wish to know the price of American coins, refer to the Red Book.
For knowing the value of American coins, you need to refer to the Blue Book. This book has a list of values that a dealer will put on the coins, in case you sell them. This value is generally half the retail price. The dealers strive to make a profit on reselling the coins that you sell them. Hence, they would not like to go lower than half of the coin prices. If you're selling gold coins, you'd find that their value is at a greater proportion to their retail price. It is usually between 75 percent and 85 percent. This high value comes from the gold bullion value.
These coins are different from regular coins, which are sold as "uncirculated." These are the collector's favorite. Proof coins may sometimes enter into normal circulation. But, it happens only when somebody made an error of entering them into the circulation or deliberately did it. They are tailor-made to be collected. They have manufactured in such a way that they display more detail and a highly mirrored surface than the regular circulation coins. This is done by striking them with planchets, particularly designed for this task.
When insuring your collection, you must utilize the coin prices to decide the insurance value. It's the price that you would need to pay while replacing coins in case of any mishap. In a nutshell, when you buy coins and when you buy insurance for them, you must look into the price of coins. When you sell the coins, you must look into their value.
However, you must not be too dependent on the Red Book and Blue Book. The price as well as value of coins is bound to fluctuate depending on the quality of the coins and the dynamic market scenario.
It's good to know coin prices. You cannot be called a good collector, if you do not know the value of your coins.