Whether you have a Lincoln Cent collection worth hundreds of dollars or have inherited a Bust dollar collection worth thousands, the question remains the same – What is my coin collection worth? What most clients really are asking is what can I get for it? A wholesale or retail valuation is what a knowledgeable buyer will pay.
So how is the coin valuation determined?
The process is as follows:
1) Inspecting and determining the grade of the coins.
In 1984, after 19 years buying and selling U.S. coins, I collaborated with other leading numismatists in setting up a grading standard for the industry by grading for a newly formed third party grading company (PCGS). Those standards since has been applied and expanded through the years. I personally grade every important coin in your collection to begin the appraisal process.
2) Determining the market value.
Today’s market information is replete with pricing information. That can be overwhelming. So how do I arrive at the valuation? I have had many clients bemoan the fact they have seen their coin on the internet for sale for $10.00 and another for $1000.00.
“Which is it?,” they ask. My reply is, “Probably neither.”
Once I have established the grades the valuation becomes narrowed. While establishing the grade narrows the pricing structure the exact value is not yet determined.
3.) Deciphering all the pricing information available.
I review the current pricing charts, auction records (where applicable) and known dealer to dealer trading. Coins with high gold content are influenced by the spot metals price. (Usually ½ ounce to one ounce U.S. gold coins) Gathering all this information guides me to the present day valuation. In some rare cases I may contact a specialty dealer. (One who trades regularly in only one type of U.S. coin series. ) This dealer can provide me with the current real time trading valuation. Combing all these resources I arrive at your collections worth in the market.
So to answer the question, “What is my coin collection worth?” The answer is your coin collection is worth what a detailed examination of the grading, the market pricing and real time sales have shown.