Best steps to insure a top value for your coin collection
Determining the value of your rare coins is no simple matter. Here are 10 simple steps that can help in this process.
- Inventory the coins you have, and list rare coins of importance individually. It’s OK to group certain coin types together, as many collectible coins tend to have similar values. You can always break down the groups further if necessary.
- Keep some general rules in mind. Silver and gold coins are almost always worth more than their face value. Mint mistakes like mis-struck or double struck coins, will raise a coin’s value, and designer’s initials and certain mint marks can also increase the coin value.
- Look for a rare coin dealer who belongs to the American Numismatic Association (ANA) and the Better Business Bureau (BBB). Any reputable coin dealer should have these credentials.
- Check out rare coin books covering the coin types your have. A key book is the “Red Book”, A Guide Book Of United State Coins. This will provide generalized information on most US coins and give an indication as to rarity.
- Online resources can be very useful. For example, check out PCGS.com and NGCcoin.com, both of whom provide a Rare Coin Retail Price Guide. Keep in mind that prices paid by coin collectors are always below these “List Prices,” meaning that the real “liquid value” of your rare coins will be less.
- Keep in mind that rare coin prices are determined by demand, scarcity and condition. The current prevailing numismatic market conditions will factor in as well.
- Understand the rare coin grading system, but keep in mind that it can be rather arbitrary. Coin grades run from Poor-1 to Mint State- or Proof-70. Many factors contribute to a coin’s grade. Strike, luster, contact marks, and overall eye appeal being the most important elements.
- Study coins similar to your own that are for sale in rare coin magazines, rare coin shops and rare coin auctions.
- Take your coins in to a Rare Coin Dealer for an appraisal. Some coin dealers charge for an appraisal, so ask first if the dealer thinks it’s worth it.
- This is the most important step: contact American Rarities so that we can have a qualified numismatic expert evaluate your rare coins and give you a no-obligation offer on your coin collection.
As you can see, it is no easy process to value rare coins accurately yourself. You need the expertise and honesty that American Rarities Coin Company offers.
Get the most for your rare coin collection now. Contact us today! Call us toll-free at 1-800-622-5680 to request your free rare coin appraisal and offer.
