About

When Coin Collecting many collectors have come across a particular coin from time to time and wondered whether they had something of great value in their possession. This feature describes the main factors influencing a coin’s value and provides some guidance in obtaining an estimate of such value. Remember, however, that the mere fact that a coin does not have significant monetary value does not mean that it is not interesting or that it should not form part of your collection.

Please Note: There are at least three values of a coin, the Price the owner thinks his coin is worth, the Price the Red Book or a Pricing Guide lists it at and then most important, the Actual Price that you can sell it for to a dealer, buyer, on eBay or at auction.

Factors Influencing Value

The value of a particular coin is influenced or determined primarily by the following four factors:

  1. Scarcity or rarity is a major determinant of value. As a general matter, the rarer a coin the more it is worth. Note that rarity has little to do with the age of a coin. Many one thousand year old Chinese coins often sell for no more than a few dollars because there are a lot of them around, whereas a 1913 Liberty Head Nickel may sell for over $1,000,000 because there are only five known specimens in existence.
  2. The condition or grade of the coin will influence its value. The better the condition a coin is in, the higher will be its assigned grade and the more it will be worth. An uncirculated coin that is in flawless mint state might be worth hundreds times more than the same coin in good condition but which has been circulated.
  3. Many coins have a bullion value determined by the value of the precious metals it contains. A gold, silver or platinum coin does not generally sell for much less than its melt value.
  4. The demand for the particular coin, or how many collectors want it, will also greatly influence coin values. Some coins that are relatively plentiful may command higher prices than scarcer coins because the former are more popular with collectors. For example, there are over 400,000 1916 D dimes in existence as compared to only about 30,000 1798 dimes. However, even though the 1798 dime is much rarer than its 1916D counterpart,  the 1916D coin sells for significantly more. This is because many more people collect early 20th century mercury dimes than dimes from the 1700′s.

Determining a Coin’s Approximate Value

  1. Accurately and properly identify the coin. You can obtain guidance on how to do this by using this site’s Free Coin Pricing Guide
  2. Grade the coin based on your careful observation of its condition. This can be done by referring to this site’s Grading Coins.
  3. Look the coin up in a coin catalog to find listed retail selling prices or estimated retail values for your coin. For United States coins,  use A Guide Book of United States Coins by R.S. Yeoman, commonly called “The Red Book” by collectors and dealers. It provides retail prices for United States coins.  It is available in many public libraries and in major bookstores and coin shops. For World coins, the most widely used guide is a series of volumes called The Standard Catalog of World Coins by Krause and Mishler. These volumes are also available in many public libraries.
  4. For more current prices, based on what dealers are actually selling the particular coin for, you should check coin newspapers and magazines or auction sites such as eBay, Heritage, Coin World or Teletrade. These sites provide price comparison for many U.S. coins and some World coins.
Be Sociable, Share!
 

David Hall PCGS

RSS Twitter / pcgscoin

RSS About.com Coins

  • 2012 Canadian Silver Proof Set Shines Bright
    2012 Proof Silver Penny Image (c) 2012 James Bucki The Royal Canadian Mint has issued their first ever all silver proof set. The set not only includes a silver dollar that commemorates the 200th anniversary of the War of 1812 but also a silver version of every current circulating coin. Normally silver proof sets only include silver coins such as the commemor […]
  • 2012 Commemorative Prices Announced
    The United States Mint has announced the pricing for the 2012 commemorative coins. The two themes for this year commemorate the Star-Spangled Banner and the Infantry Soldier. The 2012 Star-Spangled Banner Commemorative Coins will consist of a five dollar gold coin and a silver dollar while the 2012 Infantry Soldier is honored on a silver dollar. The chart be […]
  • eBay Bans Coin Replicas and Copies
    Last week eBay published a press release announcing that all coin replicas and copies will no longer be able to be sold on eBay after February 20, 2012. eBay is currently working with The PNG (Professional Numismatists Guild), a nonprofit organization comprised of the country's top rare coin dealers, to further refine its standards to ensure that all co […]
  • Grading Buffalo Nickels Made Easy
    Grading Buffalo nickels (a.k.a. Indian Head nickels) is not as difficult as you may think. Yes, it takes a lot of practice. But with persistence over time, you can acquire the knowledge and skill that some of the most experienced dealers and coin collectors possess. This article covers grades ranging from About Good (AG-3) to the ultra-rare Mint State 67 (MS […]
  • Updated Coin Values for 2012
    With the price of gold and silver going up and down daily, these price changes can have a ripple effect even on coins that are not made out of gold or silver. Therefore, I have started to update all the value listings on the coins.about.com website to reflect current market conditions. Two of the most popular coin series that coin collectors assemble are the […]
  • Learn How to Grade Lincoln Wheat Pennies
    One of the factors that determine the value of your coins is the grade or condition of the coin. Lincoln wheat pennies are fairly easy to grade but remember that a coin's grade is only an opinion and not a scientific measurement. However, numismatists, coin dealers and coin collectors have agreed upon certain characteristics that define each grade....Re […]
  • Learn About Coins From the Best in the World
    The American Numismatic Association (ANA) has released its catalog of courses that will be available this summer at its annual Summer Seminar series in Colorado Springs in Colorado. These week long seminars are offered for two weeks beginning at the end of June. I attend in the summer of 2010 and it is an experience that I will never forget. I honed my gradi […]
  • 2012 Presidential $1 Designs Announced
    The United States Mint has released the designs that will appear on the 2012 Presidential $1 coins. The four coins will feature portraits of former Presidents Chester Arthur, Grover Cleveland (first term), Benjamin Harrison and Grover Cleveland (second term). According to the press release by the Mint:...Read Full Post […]
  • Learn How to Grade Color on Copper Coins
    One of the most common elements found in coins is copper. Some of the first coins minted in the United States were made of pure copper. The Bible talks about a widow who used a copper "mite" coin. I will still look at my change when I'm in a store and a brightly colored copper penny will still catches my eye. Most collectors will agree that a […]
  • What Coins Would You Buy with $200 a Month?
    Brett Q. proposed the following query in a recent e-mail, "What would be some good coins for a collector getting back into the collecting game to start with on a $200 a month budget for coin collecting?"...Read Full Post […]
Get Adobe Flash playerPlugin by wpburn.com wordpress themes