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Coin collecting is a hobby, but collectors often want to know the value of their coins. It could be out of curiosity, or for investment purposes. Whatever your reason for collecting, start by determining exactly what type of coins you have and what condition they are in. You can refer to the information online and the official price list. If you want to know the exact value of a coin, you must work with a coin research organization and a appraiser.
Steps
Conduct research
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Find out the origin and release time of coins. You need to know exactly what type of coin you are collecting to determine its value. New coins will have an issue date printed on the front or back. They will also have the name of the country of issue.
- If the information printed on the coin is in a language you cannot read, look it up on a website or a world coin reference book. These resources have photos attached to help you compare with the coins you have.
- You can also use these guides to determine the age of coins that do not have an issue date printed on the face.
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Look closely to determine the condition of the coins as this significantly affects their value. Coins of good quality will cost more than coins with blemishes or stains. [1] X Research Source
- Coins that are never used are considered out of circulation.
- Coins are rated from “new” (perfect) condition to “bad” (dirty or worn out) condition.
- If you have a coin that you think is rare or valuable, do not try to clean it yourself, have it treated by a professional to avoid damage and decrease the value of the coin.
- If the coin is badly damaged, the value may be calculated only by the price of the metal from which the coin was made.
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Check coin prices online. There are several free coin pricing websites. You can check through a professional organization like the Association of Coin Experts. Using the country and issue date information to look up, you’ll probably see the current price of that coin. [2] X Research Source
- Several factors (including current conditions and demand) can affect the coin’s selling price, so you should only consider the online price as a reference.
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Use a coin price lookup book. If you can’t determine your coin’s price online, check out resources such as the Standard Catalog of World Coins , or the Guide Book of United States Coins. US cents). These references are especially useful because they can list different prices for a particular coin, like: [3] X Research Sources
- The “reference” price (which is the generally accepted price)
- “Buy” price (this is what wholesale buyers will pay to get your coins)
- Retail price (is the price that customers sell to customers)
- Wholesale price (this is the price a customer buys and sells to other merchants, especially when there are many coins traded together)
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Consider any special factors. Coin prices can rise or fall due to concerns about them volatility. When more people want to buy a certain coin, the price will increase. Rare or particularly sharp coins will cost more than common ones. Anniversary Coins (special issue type) are also great value. [4] X Research Sources
- Take these values into account to set a price for your coin. For example, it is possible that the coin you own is not particularly rare, but in the brand new condition that most coins of the same type do not have, its price will be higher than the normal reference price.
Work with an appraiser
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Join our group of coin experts. This group studies coins and other currencies. If you have a lot of coins that need to be appraised or regularly work with money, consider joining a group of experts in the field. They will share coin price lists and other special information that can help you value your coins. [5] X Research Sources
- Find out if there is a well-known group of coin experts where you live, such as the Vietnamese Antiquities Collectors Association or the Professional Coin Research Association.
- You can also sign up at sites like Coin Today and Coin World to look up special information.
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Take the coin to an official appraisal. Expert coin appraisers can give you the most accurate and up-to-date prices. They will rely on expert opinion on the condition of the coin. They also refer to the prices of recently sold coins of the same type. [6] X Research Sources
- As a member of a coin collector, you will have access to a list of coin dealers to find where you live.
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Join the coin trade fair. Coin collectors groups may hold regular meetings, where merchants display coins to interested customers. Whether you really want to sell your coins or not, take this as an opportunity to determine the selling price. [7] X Research Sources
- Talk to the coin dealer. Show them your coins to see if they want to buy them.
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This article is co-authored by a team of editors and trained researchers who confirm the accuracy and completeness of the article.
The wikiHow Content Management team carefully monitors the work of editors to ensure that every article is up to a high standard of quality.
This article has been viewed 19,687 times.
Coin collecting is a hobby, but collectors often want to know the value of their coins. It could be out of curiosity, or for investment purposes. Whatever your reason for collecting, start by determining exactly what type of coins you have and what condition they are in. You can refer to the information online and the official price list. If you want to know the exact value of a coin, you must work with a coin research organization and a appraiser.
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