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COIN PURSE | Nashville Coin Dealer | Since 1968 (615) 269-6700 Contact Us

Below are commonly asked questions. We hope they will assist you.

How do you determine the value of a coin?

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.

How old does a coin have to be for it to be worth something?

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.

What is the best way to clean coins?

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.

I am starting a collection, what are the best coins to collect?

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!

Do you buy coins?

Yes. We are always 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.

Do old coins go up in value every year?

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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