If you have rare coins you want to sell, the first step is to find out how much they are worth. When faced with the task of finding out the value of a coin collection, most folks have the same four questions:
What do I have?
What is it worth?
Who can I trust to help me understand the value?
If I want to sell, how can I feel confident about an offer?
The resale value of a given coin is determined by evaluating the condition, denomination, and bullion value. Getting your coin graded, that is to say professionally appraised, is highly recommended.
Find the Date, Denomination, and Mint Mark on your Coin.
The date and denomination (face value) of the coin are pretty easy to find at a glance. A mint mark is a small letter on a coin, which identifies where the coin was minted, though not all coins have one. The mint sets are pretty inconspicuous, so if you’re having trouble finding it, you might want to ask an expert for assistance.
Look at Coin-Valuing Guides in Books or Online to Start.
If you live in the United States, the “Guide Book of United States Coins”, commonly called the “Red Book,” is a great option to learn if you have valuable coins. There are also plenty of websites where you look up the type of coin you have and compare it with pictures on the website to get a preliminary evaluation of the coin. The books, “Official ANA Grading Standards for United States Coins” (US Coins) or ”Standard Catalog of World Coins” (World Coins) are also helpful resources.
Consult with a Reputable Professional.
An experienced coin dealer will help you authenticate your coin and currency, and can find the bullion value if the coin is made of precious metal like gold and silver. They can also research comparative prices, and grade the coin’s condition.
Consider working with a member of the Professional Numismatics Guild (PNG) who has extensive training and adhere to a very high standard of ethics.A professional can also help you determine the best way to sell your collection to potential buyers, either through a dealer, coin show, or an auction.
Avoid touching your coins to keep the value high. If your coin isn’t in a holder, only hold it by the edges to avoid getting your finger oils on it. Use white gloves or coin tweezers when working with the coin. It’s best to keep your coins in a plastic coin holder to keep them safe and keep the slabs, or holders, clean to best display your coins.
Don’t clean your coins, because it can reduce their value.
If you suspect that you have a particularly valuable collection, you might want to get it appraised by more than one dealer.
Check with the Better Business Bureau to see if your coin dealer has any unresolved complaints.
Remember that you might not get quite as high a price for the coin that you may see online, simply because dealers take a small percent of the price for transactions they facilitate.
Make sure to document your sales and pay taxes on the profits.
Warning: There are a lot of counterfeits out there, so even if you purchased or inherited a coin from someone who thinks it was a real coin, you should double-check to authenticate it.
For the experienced connoisseur or first-time coin collector, Dave Wnuck Numismatics has a large and distinctive group of rare and valuable U.S and world coins available for purchase.
If you are searching for a specific type of coin or just looking for something interesting to enhance your collection, then contact Dave Wnuck, schedule an in-person consultation (by appointment only), or meet with Dave during one of many regional coin shows and coin auctions held throughout the year.
Here are a few examples of the exceptional coins offered for sale:
1714-Mo J Philip V gold Cob 8 Escudos Gold Coin. Shipwreck – From 1715 Plate Fleet. NGC graded XF45. SOLD