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