If you’re a coin collector, you would naturally want to find out the value of the coins that you have. It might be out of curiosity or for investment purposes. You can start by figuring out exactly what type of coins you have and their condition. You can then reference your information against online lists. For a more accurate value of your coins, work with numismatic organizations or professional appraisers.
Here are some steps to find out the value of your rare coins:
1. Do some research
Determine the coin’s origin and date. Modern coins have a date of issue printed on the front or back. Some also have the country of origin and mint mark. If you can’t read the language on the coin, then you can consult a world coin reference book that has images that can match your coin.
Determine its condition. Blemished or dirty coins have less value than higher-quality ones. Unused coins are also known as uncirculated. They can be rated as in mint condition (perfect) until poor (dirty or damaged). Don’t attempt to clean coins yourself. Take it to an expert, as you might damage the coins and lower their value.
Check coin value lists online. There are websites with free values for some coins. You can look up your coin’s date and origin. Use this value as a ballpark figure when selling.
Consult a coin value book. If your coin is not online, you can use the Standard Catalog of World Coins or the Guide Book of United States Coins. They have several values for coins: the book value, the buy value, the retail value, and the wholesale value.
Account for special factors. Coin values are driven by interests, so they can go up or down. Rare coins, especially commemorative ones, are more valuable than common ones.
2. Work with an appraiser
Join a numismatics group. Numismatics is the study of coins and other money. You can join this group if you have a lot of coins that you would like to be appraised. The American Numismatics Association and the Professional Numismatics Guild have price lists and other special information to help you find out the value of your coins. Coin Today and Coin World are websites that also have access to rare information.
Have your coin officially appraised? Professionals will be able to provide you with the most accurate value of your coin. You can go to rare coin auction houses for the same.
Go to a numismatics trade show. They hold regular conventions where sellers display coins to interested buyers.
3. Look for errors
Look for cracks and missing elements. Tilt the coin in the light. Flip the coin from top to bottom. The reverse side should be the right side up. There should be no doubling or missing sections.
4. Look at the mint marks
This will be on the head side of the coin, but older coins have them on the reverse. Where a coin is minted greatly influences its value.
5. Look Out for fakes
Some rare coins are double-headed or double-tailed, so verify if they might be fakes. Two coins that have been joined are also known as magician’s coins.
Rare coin auction house prices are typically the highest. Blackwell Auctions are looking for coin collections that need an estimate. We buy and sell antique or vintage coins and help you obtain the highest possible price. If you are interested in finding out more about consigning or selling to Blackwell Auctions, please contact us at 727.546.0200 or visit blackwellauctions.com.
