Coin collecting is a fun hobby, but collectors naturally want to know the value of their coins. Either out of curiosity, or because they are interested in the coins for investment purposes. Whatever the reason, start by knowing the type of coin and its condition. After that you can use this information to find a list of values online or in print. If you want to get an accurate value for a particular coin, work with numismatic organizations and professional appraisers.
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Method 1 of 2: Conducting Research
Step 1. Record the date and origin of the coin
To determine the specific value, know the type of coin you are. Modern coins have the date of issue printed on the front or back of the coin. Maybe even the name of the country of origin of the coin was printed on it.
- If the information printed on the coin is in a language you can't understand, look up a website or a world currency reference book. These references also provide pictures that will help you match coins.
- These guides can also be used to help you determine how old the coin is without the minted date.
Step 2. Examine the coin to determine its condition
The value of a coin is greatly affected by its condition. Higher quality coins are usually more valuable than rusty or dirty coins.
- Coins that are never used are called uncirculated.
- Coins are graded from “mint” (perfect) condition, and decreases to “poor” (dirty or damaged) condition.
- If you have coins that you think are rare or valuable, don't try to clean them yourself. Take these coins to an expert for cleaning without damaging and degrading their value.
- If the coin was badly damaged, it might only be worth the metal itself.
Step 3. Check the online coin value list
Many websites display the value of multiple coins. Check for information from professional organizations such as the Professional Numismatics Guild. Search by date and origin of the coin, and you may be able to find its current value.
Several factors (including the current state of the coin and demand) affect the actual selling value of the coin. So, use the values you find online only as a rough idea
Step 4. Look for information in the coin value book
If you can't find the value of a coin online, look up information from references such as the Standard Catalog of World Coins, or the Guide Book of United States Coins. These references are especially useful as they contain several specific coin values:
- “book” value (generally accepted coin price)
- The “buy” value (the price the seller is willing to pay to buy the coin from you)
- Retail value (selling price from seller to buyer)
- Wholesale value (selling price from one seller to another, especially when selling multiple coins at once)
Step 5. Consider specific factors
Coin prices can increase or decrease, because they are influenced by changing interest rates. When many people want to buy a certain type of coin, the price can go up. Rare or unusual good coins are often more valuable than common coins. Lastly, the commensurate coins (special edition) can be very valuable.
Take all of these values into account when calculating the value of your coin. For example, you may have a not-so-rare type of coin. However, if they were in perfect condition, and most of the coins of that type were in poor condition, their value could be higher than the "book" price
Method 2 of 2: Cooperating with an Appraiser
Step 1. Join a numismatic group
The science of coins and other money is known as numismatics. If you work with coins a lot, or have a lot of coins that you want to estimate the price for, consider joining a professional group that specializes in this area. These groups will share a list of values and other specific information that can help you determine the value of your coin.
- Look for a recognized professional group in your area, such as the Indonesian Numismatic Association (if located in Indonesia). If you are in America, join the American Numismatics Association or the Professional Numismatics Guild.
- Websites like Coin Today and Coin World also allow you to register as a member to access special information.
Step 2. Appreciate the coins officially
Professional coin appraisers can provide the most accurate and up-to-date values for your coins. They will base their judgment on the opinion of a numismatist on the condition of the coin. They will also consider the current selling price of similar coins.
Becoming a member of a numismatic group can also give you access to a seller directory so you can find sellers in your area
Step 3. Visit a numismatic trade show
Numismatic associations usually hold regular conventions where sellers can display coins for potential buyers. Sellers can usually also buy coins from visitors. Whether you are interested in selling coins or not, you can use this opportunity to determine the "buy" value of the coin.
