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The First Search Engine Result for Coin Values is Almost Never Correct

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The First Search Engine Result for Coin Values is Almost Never Correct

As a high-volume coin dealer, we receive nearly 100 calls a day. One of the most difficult parts of our job is to let some of our customers know that the coin or coins in their possession they believe to be worth hundreds of dollars, if not more, are face value items, or close to it. Inevitably, the response we receive is that “I looked it up online and the internet or Google said that it was a valuable coin.” We routinely share with our customers that the first search engine result is nearly always inaccurate when it comes to their coin value.

There are a couple of reasons for this. When you conduct an online search, the top search engine results are from those companies that have the highest domain authority. This simply means that these are established businesses with websites that generate millions of searches a month. Most of these companies are household names. For instance, with many coin value related searches, you’ll see eBay, Etsy, TikTok, YouTube as the top results. This doesn’t necessarily mean that these sites contain the most accurate information, at least as it relates to coins – simply that they’re large enough to draw a lot of online traffic.

Another point to remember is that anyone can ask any amount that they would like for their coins, and they frequently do. As my Marketing Director frequently likes to share, these sellers are “hoping to find someone with more money than brains” to buy their coins. Asking prices and market prices are completely different, and in many cases, aren’t even in the same stratosphere.  Market prices are prices realized when someone sells a coin. Even then, many of these coins are sold at auction, which means that these aren’t “net prices.” For example, if sold at auction, fees can range from 20% – 30%. These fees need to be factored in to identify what you may be able to sell your coin for.

The best websites to determine values are industry-related websites that publish data on the actual sale of coins. We suggest focusing on actual prices realized versus asking prices. To get even more accurate information, you might want to consider picking up The Blue Book of U.S. Coins or signing up for a subscription to the Coin Dealer Newsletter (CDN). However, it should be noted that the CDN is more reflective of market rates versus wholesale rates.

One more quick note – In general, most free websites or coin apps that publish prices or a price range for coins aren’t very accurate.

If you or anyone you know is looking to sell gold, silver, platinum, and palladium coins, bars, and bullion, check out our What We Pay page to get our current rates (what we pay) for specific items.

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Tony Davis
Tony Davis is the owner of Atlanta Gold & Coin Buyers, a full service Atlanta based coin and bullion dealer specializing in buying, selling and appraising coins and coin collections of all types and sizes. Tony frequently writes on various economic and numismatic related topics affecting the coin and bullion markets and has been published on some of the industry’s leading websites, including Coin Week, the American Numismatic Association, Coin Collector, Coinflation, and Coin Auctions Help, just to name a few. Visit Atlanta Gold & Coin’s website at atlantagoldandcoin.com to obtain additional information on the products, services and educational resources offered by his company. Tony can be reached at sales@atlantagoldandcoin.com or at 404-236-9744

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