We’ve addressed in the past how to determine the value or price of your coins, but we’ve received a number of phone calls and e-mails recently from individuals that have old coins available for sale who have asked us this question, so we thought that it was time to review the major factors in determining the value of your coins.
First and foremost, what is the metal composition of your coins? Â If your coin is composed of gold, silver, platinum, or palladium, whether it’s a U.S. or foreign coin, you can be assured that the coin will have some value. Â Over the past few years, platinum has led the precious metals pack, but more recently, gold has taken the lead. Â In order of value, from highest to lowest, are gold coins, platinum coins, palladium coins, and silver coins. Â Typically speaking, U.S. or domestic coins composed of precious metals sell more than their foreign counterparts.
The mintage of the coin is a primary factor in determining the value of your coin. Â In fact, the number of a particular coin minted can far surpass the precious metals value of a coin. Some coins, composed of other metals, such as copper and nickel, can sell for substantially more than gold, platinum, palladium or silver coins. Â You can research the mintage of your particular online or consult with a local coin dealer.
The condition of a coin can add or subtract value from the item. Â On a positive note, if you have a coin that is composed of precious metals, the coin is always going to have a decent value, regardless of the condition. Â If the coin is not composed of precious metals, unless it’s an extremely rare coin, the condition is going to have a substantial impact on the value of the coin. Â Low mintage coins in high end condition nearly always sell at a premium. Furthermore, some coins that are made of gold, silver, platinum, or palladium, if in uncirculated condition, may sell at an additional premium above their precious metals value; although, this isn’t always the case.
Another factor is the local demand or desirability of the coin. Â You may have an old coin and rare coin fromÂ Kazakhstan, but such a coin is likely to attract very few collectors. Â On the other hand, there are U.S. minted coins, such as an 1895 proof Morgan silver dollar, a 1909 VDB-S Lincoln cent, an 1877 Indian Head penny, a 1916-D Mercury dime, and a 1932-D&S Washington quarter, which are all rare and low mintage coins that are in high demand. The greater the demand, the higher the price you can expect to receive for the coin.
The last major factor determining the value or price of your coin is if it’s in raw ungraded condition or graded condition. Â Typically speaking, professionally graded coins, such as those from PCGS or NGC, carry a premium over raw or ungraded coins in the same condition. Â This is because a third party unbiased company that is held in high regard by coin collectors the world over, has provided a professional opinion of the condition of the coin. Â Most professionally graded coins are encapsulated in plastic holders.
We hope that you’ve found this post to be helpful and welcome anyone who has questions to contact Atlanta Gold and Coin Buyers at 404-236-9744 for a free appraisal and evaluation of your coins. Â We look forward to hearing from you and earning your business!