Q:

How do you evaluate rare coins?

A:

Quick Answer

There are several different methods available for evaluating rare coins, such as using value charts and albums or professional coin dealers. Use a cross-section of these methods when selling rare coins if you are relatively new to the field.

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Full Answer

  1. Get a rough idea of the value of the coins

    Get a general idea of the value of the coins before consulting a dealer. This allows the seller to immediately weed out dealers who give vastly different evaluations of the same coin.

  2. Find a dealer

    Even if you are confident of the coin's value, it is still a good idea to get a second opinion from a coin dealer. Dealers are more in tune with slight fluctuations in the market and can generally get the best price for a coin at an auction. A directory of dealers can be found through coin catalogs or periodicals, at auctions, online and at other coin events.

  3. Check references

    To see if a coin dealer is reputable, honest and knowledgeable, it is important to look into the experience of the dealer and his reputation among his peers. It is also important to find out whether or not they are members of the Professional Numismatists Guild. Ask for this information, or seek it out through an online source.

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