 Below
are commonly asked questions.
We hope they will assist you.
Q. How do you determine the value of a coin?
A. A coin is valued according to its
condition, rarity and consumer demand. It is a combination
of all the above that will determine its value but
ultimately consumer demand is the overriding factor.
For instance, a coin may be scarce and in mint condition
but if there is no demand for the coin its value will
be at negligible. On the other hand, a coin may have
a high mintage and be of low quality, but because of
consumer demand it may bring a substantial premium.
We sell two books that will help get you under way.
First, A Guide Book to U.S. Coins, also called “The
Red Book” is a price guide. Second, the Official
A.N.A Grading Standards for U.S. Coins is an excellent
book to help you determine a coins quality. Both books
are available under our coin supply link.
Q. How old does a coin have to be for it to be
worth something?
A. Age is not a factor.You may purchase
an ancient Roman coin for only a few dollars (there
are an infinite number available) however, a modern
coin with a low mintage may cost several hundred dollars.
Q. What is the best way to clean coins?
A. I highly recommend you leave your
kitchen cleansers under the sink! There are many “home
remedies” for cleaning coins. Unfortunately,
most attempts at cleaning coins result in decreasing
their value. There are a few “coin cleaners” on
the market, and used correctly, under the right circumstances
can help to preserve some coins. Our advice is not
to try. Someone once told me “We do not own the
coins in our collections, we are only preserving them
for future generations.” Let’s do just
that.
Q. I am starting a collection, what are the best
coins to collect?
A. Coin collecting is an individual
process. What I may consider as a prized coin, someone
else may not be so impressed. My suggestion is to look
for a coin that is appealing to you. There are no rules
to collecting. Collect what you like!
Q. Do you buy coins?
A. Yes. We are always aggressively
buying all U.S. and foreign coins and currency. If
you have material you are interested in selling, contact
us by e-mail, fax or telephone and we will discuss
the details with you.
Q. Do old coins go up in value every year?
A. Not necessarily. The prices of
coins sometimes decrease. Rising prices often occur
during times when the economy is inflationary. Sometimes
prices can rise because of an increase in demand. If
that demand reflects an increase in the number of collectors,
one can expect a consequent increase in prices. However,
increased demand comes from an influx of investors
into the market, be careful. Investor driven markets
eventually collapse, causing prices to fall rapidly.
Coin Collecting is better viewed as what it is, a hobby.
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