Collectors can buy coins from coin dealers, the U.S. Mint, and auction sites such as eBay. When buying coins, knowing how to spot fakes and understanding the wholesale values of different coins will help ensure that collectors get the best value for their money.Continue Reading
Buying coins from a dealer requires purchasers to understand each coin's wholesale value to ensure they don't overspend. Each week, the Coin Dealer Newsletter prints the Grey Sheet, which reflects the current prices of coins. While buyers should expect to pay more than the wholesale value for a coin, using this sheet helps buyers understand each coin's worth.
Another coin resource is eBay, where both experts and novices sell their coins. Coin shoppers on eBay, should avoid coins that sellers claim are rare even though they are widely available across the site. This will reduce the risk of purchasing a fake coin. Paying with a credit card also ensures that the buyer will receive a refund in the event of a coin being fake. Collectors with an interest in the U.S. Mint can purchase directly from them by visiting their official website. The U.S. Mint usually only sells current collections but may occasionally sell coins from the previous year.Learn more about Coins & Currency
Old coins can be sold for cash or other forms of payment to coin collection shops, antique dealers or precious metal purchasers. Individuals can also sell coins directly through online auction sites like eBay.Full Answer >
As of 2014, the coin auction website CataWiki valued 1974 50-cent coins from Kenya in the highest condition at about $1.60, coins in mint condition at $1.08, coins in extremely fine condition at 40 cents and coins in fine condition at 20 cents. The site does not provide the price of coins in fine, very good or good condition.Full Answer >
Determining the value of a rare coin can be accomplished by contacting any number of antique coin dealers, auction houses or by looking online at coin value or grading websites. There are also coin traders who determine value in person at conventions and coin or antique shows, and some who do business on the Internet.Full Answer >
The value of old pennies can be determined by auction houses, collector organizations and coin dealers. The value varies based upon the type of penny, its condition, the year and place of its minting, and its overall rarity. Some organizations use coin-grading services to authenticate and value coins.Full Answer >