What Are My Coins Worth?
Determining Coin Value
A coin's worth is determined by whatever someone is willing to pay for it.
I know that is not what you wanted to hear, but coins are just like anything else that you purchase.
The price is set by supply and demand.
However...........To get a good idea of your coin's worth consider the following:
Once you have completed these steps you can use this information to locate your coin in a coin price guide for a good idea of the coin's worth.
Some of these price guides will publish a wholesale price and a retail price. The wholesale price is a price from one dealer to another. The retail price is the price a dealer uses to sell coins to a collector.
Actual prices won't be exact, they may be a little higher or lower than those published. However, if a dealer is buying a coin from a collector, he will usually pay less then wholesale, so bear that in mind.
Recommended Price Guides:
You can also find some price guides Online. Just be sure that the particular site you are using is regularly updated.
Online Price Guides.......
Be aware that it is difficult to break even or make a profit by selling too soon after purchasing a coin or coins.
As stated above, the dealer will sell the coin to a collector at retail price, but he will buy it from the collector at wholesale price.
The reason he does this is because he is in business to make a profit so he must buy it cheap enough so that he can sell it again and make a profit.
Here is the thing to remember:
While it is important to know what your coin is worth, you should buy coins because you like them and intend to keep them.
They may eventually go up in value, and they probably will, but not immediately.
If your only reason for buying them is a quick profit, then you are not really a coin collector, you are considered to be an investor.
For some great deals on Coins and Coin Collecting Supplies visit my friends at Jake's Marketplace, Inc. They have a very comprehensive selection to choose from and give great discounts!
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Eva Sue Duke - R-3147094
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