Advancing the knowledge and enjoyment of numismatics

Author: Tim Bishopric (Page 3 of 5)

August Meeting

The club met online for its August meeting. Club member Frank presented about Fugio coins, the first official coins of the United States. We gave away a few coins and discussed club business. If you are interested in joining us for a future, remote meeting, please get in contact and we can send you the details.

Selling Coin Collections

The Willamette Coin Club is a non-profit, community organization, and we do not provide values for coin collections or buy them. 

Values of coins are based on rarity, coin condition, and market factors of supply and demand. Rarity is established by the production numbers (mintage). The market is determined by the number of collectors wanting to buy a coin versus the number that exist. Coin condition refers to the physical state of the item.

Due to the large numbers of coins and paper money produced globally starting in the 20th century, most coins and notes from that period hold only a nominal collector’s value over the face value amount. If the coin is made of silver, gold or another precious metal, then it may be valued by its intrinsic (bullion) value rather than collector value.

Value can be established by a careful physical examination of the item by an experienced numismatist. We recommend you take your items to a coin dealer who is a member of the American Numismatic Association (ANA). ANA-member dealers are bound by a code of ethics. See resources below for a link to the dealer directory.

You can also do your own research by consulting one of the many published books or website on the topic. The latest editions of books like “A Guide Book of United States Coins” by R. S. Yeoman, “Paper Money of the United States” by Arthur L. and Ira S. Friedberg, as well as the “Standard Catalog of World Coins” and the “Standard Catalog of World Paper Money” (both published by Krause Publications) are available at many libraries and bookstores.

Websites like eBay and Heritage allow you to search their completed sales for similar coins. PCGS and NGC offer price estimates for authenticated and graded coins. To be successful at that, you should be able to identify and name the coin typically by country, denomination, and year.

When coin clubs meet in person, you can sometimes bring your collection and talk to others at the meeting to get rough estimates. If the collection is large or particularly valuable, you may want to hire a professional to inventory and estimate the value or bring them to a nationally recognized auction house.

Resources

ANA member dealers: https://www.coin-dealer-directory.money.org/

Calendar of regional coin events: https://www.pnna.org/calendar.html

“Managing & Settling a Numismatic Estate: How to Preserve or Dispose of a Coin Collection”: https://www.amazon.com/dp/0896370321/ref=cm_sw_em_r_mt_dp_J1NqFbRKCJ10V

ANA Frequently Asked Questions: https://www.money.org/FAQ

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