Pricing Coins

Whether you are looking to start you own coin collection or you just have a few coins lying around that you think may be valuable, you'll find that finding out all about it is much more simple than you might think.  When you are looking to figure out how much your rare coin might be worth, take some time to consider some of the following.

1.Identify it

There are a number of different guides both online and off that can help you get started.  When you are trying to figure out where your coin is from, you are in luck, because most coins will have the country of origin and the date printed on them. Check out these facts, and make sure that you also note details like the denomination of the coin, whether it is an actual coin or a medallion, and what kind of metal it is made from.  This can help you figure out exactly what you are dealing with.

2.Establish the rarity of the coin

Essentially, in this step, you are figuring out exactly how many individual issues o this coin were struck.   It is also important to note at this point whether they were circulated or not.  Uncirculated coins tends to have a higher value as collectors pieces.  There are many books and resources out there that can tell you how many copies of your coin exist.  

3.Find other examples

When you are looking for a good price for your rare coin, find out what out what other coins of the same issue and in comparable condition are sold for.  In many cases, you will find that there has been no recent auction of your coin, and you will need to think about choosing other coins to reference from.  Consider coins that have different mints, and what coins have been worth a grade up and a grad down.  Chances are, you will find that there are plenty of ways for you to pinpoint a good price on your coin.

4.What will the market bear?

This is something that is less precise and requires some familiarity with coin collecting in general.  Is this a coin that is avidly collected? Is there are a lot of demand for coins of this type, or this date?  There are many coins which have followings and you will find that if you have a coin of this type that the price can stand to go higher. There are some issues that are usually in high demand, and if you are looking to  put your coin up for auction, this is an important thing to consider when pricing.

5.Condition and packaging

How mint is the coin?  Is the face clear and are you dealing with a coin that has been presented to you well-preserved?  If so, you can expect the price to go up.  While significantly  rare coins can still be sold for a fair amount of cash, it is worth noting that poor condition can still have a strong impact on the price.