In numismatics, rare coin prices are what a buyer pays for a rare coin from a dealer. The value, or wholesale price, is how much money a dealer would pay for a rare coin from a seller. "Price" and "value" have different meanings in numismatics.
How many coins were minted, how many still exist and are available, the demand, and the melt value all affect rare coin prices. The condition of the coin also determines its value and price, as does the dealer's inventory of that coin.
Some rare coins have high prices because they were only produced in limited quantities in certain years. Other coins gain value because many of them were destroyed or lost over time, making them exceptionally rare. Sometimes, coin collecting trends influence the price of a rare coin, as certain coins become more popular and higher in demand.
Many rare coins are made from precious metals, such as gold or silver. Rare coins are usually valued higher than their melt value. There is a grading system in place that determines the condition of rare coins. Organizations like the Professional Numismatics Guild examine and grade coins, which allows dealers to set fair prices based on professional appraisals.