Coin valuations are an important part of getting an accurate assessment of what your coins are worth. There are a number of factors which need to be considered when getting a coin valued, but the bottom line is that your coin is worth whatever the amount you can get someone to pay for it.
Rarity of a coin can strongly influence its value but often has little to do with age. For example, old Greek and Roman coins are prized by ancient coin collectors but are extremely common. If only four or five specimens of a coin exist then it’s not unusual for its value to be in six or seven figures.
The condition a coin is in is an important factor in determining its value. There may be plenty of a particular coin but if only a handful is in pristine condition then they will be the ones with a particularly high value. Coins are graded on a specific scale and this can be done properly by professional coin graders or dealers.
Trends come and go with coins the same way they do with cars, food, clothes and shoes. Naturally if demand for a coin is sky high its worth will rise accordingly; if no-one wants to buy it then it’s not going to sell for a lot. Some coins will always sell for more because they are popular with collectors, even if there are rare coins available to buy.
Coin valuations can be done in a variety of ways, but some are more a guide than a definitive figure. For proper and accurate valuation a coin must be examined physically, and by a professional.
Coin price guides can help. Each year there are books printed which list coin values and features which will raise or lower their prices accordingly. A benchmark in coin valuation is the Official Red Book of US Coins by R.S. Yeoman, referred to as the ‘Red Book’. Online price guides have the advantage of regular updates and are accessible for free. Price guides will save you appraiser’s charges and visits to dealerships.
Trawl the web and you won’t have to go very far to find newsgroups or online bulletin boards with subscribers who will help you try and establish a value for your coin collection. These people will have a wealth of information but will need a very accurate description of the coin.