Whether you’ve been a coin collector for years or are just getting started, you may be wondering what your coins are worth. Coin collecting is a hobby as well as a form of investment. Even if you are not interested in coin collecting to make a profit, it’s still important to know what your coins are worth.
If you have never assessed the value of your collection, or haven’t done so in a while, now is the perfect time to get a coin appraisal in Mill Valley, CA. Here are a few points to keep in mind when determining how much your coin collection is worth.
Supply and demand
Most of the time, the relative rarity of a coin determines its value. If a particular coin is in low supply, its value typically goes up. However, this is not always the case. Even if a coin is in low supply, the demand for that coin is not always high. For example, if collectors are most interested in collecting coins from the 20th century, a 20th century coin may sell for more than, say, a coin from the 1700s, even if the coin from the 1700s is far less common. When determining the value of your coin collection, it’s important that you consider both the supply and the demand for each coin.
Keeping the supply and demand points from the last section in mind, let’s talk about rarity. People often assume that, because a coin is old, it is also rare, but this is not the case. For example, some ancient coins that are over 1,000 years old are not considered rare because there are thousands of them in the market. Meanwhile, other coins that are not even 100 years old have a greater value because so few of them are in existence.
While the denomination of coin is definitely not the deciding factor when determining its value, it is still an important point to consider. Most U.S. coins, and some others as well, typically use a more precious metal for a higher denomination. Silver and gold are typically used for making $1 coins, while copper is used for making pennies. Generally speaking, a gold collector coin is worth more than a copper one, but keep in mind that this is only one way of determining a coin’s value.
If you are selling coins in the U.S., U.S. coins are typically the most valued, as these are what local collectors are interested in buying. Coins from other regions are also valuable here, but the current trend among American buyers is to buy American coins. However, coins from other regions are highly sought after as well, including Canadian, British and French coins.
If you are interested in selling your coin collection or just want to get a better sense of its value, then it’s time to reach out to Collectible Coins & Jewelry, your experts in coin appraisal in Mill Valley, CA. We do our appraisals in house, so you know you are working with an honest and reputable company. To learn more, contact us or stop in today!