Coin Values
Written by Author on September 17th, 2009What Are Factors That Affect The Value Of Coins?
When one is just starting in coin collecting, often the first question is: “What is the value of the coin?” The answer is, the coin will cost as much as you are willing to pay for it and the amount can vary considerably. For instance, a coin dealer’s offer can be much less than a coin collector that definitely wants your coin badly to add in their collection.
The following are factors that can influence the true coins value.
1. Grade or condition of the coin. Your coin will be worth or valued more when it is in good condition. When in a perfect or unblemished mint condition, an “uncirculated” coin will be worth many times more than a similar coin that has been in circulation.
2. The rarity of a coin is the principal basis for a coins value. Generally, the rarer that a coin is found to be, the higher it is priced. Please keep in mind that rarity has very little influence on the coins age. Chinese coins are a thousand years old normally sell for about ten dollars since there are so many of them; while a “1913 Liberty Head Nickel” can sell for up to or over $1 million dollars because only 5 specimens are known to exist.
3. Bullion value. A coin’s precious metal content can also determine its value. A platinum, silver or gold coin will not, in general sell for less than the coins value when melted.
4. Demand. There are coins that are in great demand; sought after by many collectors, and if a particular coin is in huge demand the price will be even higher. Even comparatively plentiful coins can mandate higher value when they are popular amongst coin collectors.
For example, “1916 D dimes” are way more abundant than the “1798 dimes” yet in spite of this, “1916 D dimes” sell for so much more because there are many more people collecting 20th century dimes than 1700 dimes.
So in conclusion coins value fluctuates depending on the state of things in the world of coin collecting. I can’t sleep at times because of the ups and downs. I’ll get over it though. Happy collecting.