Coin Collector Blog

Mullen Coins Collection Blog provides valuable articles and content about coin collections, rare coins, currency, antiquities and interesting reviews of news and events within the numismatic community.

How much is your coin worth? Learn about the coin evaluation process, recent trends in coin prices, and how to get the most from your coin collection.

Introduction to Coin Grading


The ABCs of Coin Grading

 

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Guest — Jade Brunet
My dad loves collecting coins and I want to know more about this passion. I agree that this activity would take time and practice.... Read More
Friday, 02 September 2016 15:23
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Rare Coin Auction Prices Soaring Cardinal Collection Dollar over 10 Million at Auction

Rare Coin Auction Prices Soaring Cardinal Collection Dollar over 10 Million at Auction

 

Record Set by First Year United State Silver Dollar- 1913 Nickel Up Next!

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A Grand Rapids Coin Dealer's Perspective on The Trillion Dollar Coin

Coin collecting intersects with a number of other interests - art and design, history, geography, and politics, to name a few. Lately the "trillion dollar coin" controversy has been the main discussion where politics and collecting collide. Recently the Treasury and the Federal Reserve both have indicated that a trillion dollar coin will not be produced. However, as a Grand Rapids coin dealer, we view this improbable political battle as a chance to delve into the numismatic feasibility of the trillion dollar coin.

For those who may have missed the debate, the short history is that some bloggers advanced an idea that, should Congress refuse to raise the debt ceiling, the president could erase the national debt by authorizing the Treasury to create a trillion dollar coin as legal tender. The idea initially sounded preposterous to many, but the media and politicians began to investigate, and sure enough, there appeared to be a legal loophole that would allow such a banana republic strategy to be enacted.

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Circulated vs. Uncirculated Coins

Circulated vs. Uncirculated Coins

Guest Blogger:     Katherine Mullen came on board in 2012 to manage the business side of Mullen Coins. Pat Mullen is Mullen Coins’ numismatist. Ride along as Katherine learns the basics of numismatics.


I have always known that uncirculated coins are shinier and have fewer scratches than circulated coins.


Because I started with a large pile of quarters, I found all 50 State Quarters in a few short hours. Not even a collector, I was a little bit proud of myself.

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Coin Dealer or Con Dealer

I recently purchased a semi-key date collectable Morgan Dollar for $250, a fair value for the seller. I should be able to sell relatively quickly to a Morgan coin collector looking for a hard-to-find rare date coin.

Here’s the important part: Another coin dealer had offered to pay just $20 (80% of the value of silver content) for the very same coin!

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Quality and Rarity Drive Values for US Coins, Ancient Coins, and US Currency

$10 National Bank Note – The Old Grand Rapids National Bank
1879-CC Morgan Dollar
Arsinoe II, Wife of Ptolemy One-Mina Piece

“Buy the best you can afford” is a sound strategy for collectors of nearly any rarity, but is particularly important with US coins, ancient coins and US currency.   Also, as simple as it sounds, never forget that rarity is of critical importance to long-term value.

Since 2008, the coin market has done well compared to other financial markets.   However, the increase in value of common coins has been driven almost entirely by the increase in gold and silver values.   Common copper and nickel coins have languished or decreased in value while rare coins of high quality have skyrocketed in value.

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Pay Attention to Fundamentals When Considering a “Hot Coin” Purchase

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Like all collectibles, certain types of coins tend to get “hot” and are in high demand for a period of time and then they cool off.  What drives these trends?  Pure rarity, trade publication articles, publicity of particular series (Washington Quarter became “hot” when the Statehood Quarter program began), and increase in gold and silver prices.   However, too often “hot” coins are the product of ambitious telemarketers… prices increase short-term and then retreat to pre-promotion prices when the promotion is over.  Read on to learn how Grand Rapids coin collectors can avoid these schemes.


Have you ever watched a coin television show?  Very professional production techniques and a slick pitchman will promote “highly collectable” coins at “bargain prices” that are certain to go up in value as the public recognizes how rare they are.    Unsuspecting collectors looking for quick profits are usually disappointed.  Too often, these “bargain prices” are nearly double the base collector market retail prices.  A buyer, later seeking to sell such items, might find the value to be just 40%-60% of what they paid.   

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Characteristics of rare, collectable, and valuable coins

In this blog post we discuss the key elements that make a coin rare, collectable, and valuable.

  • Precious Metal – Gold/Silver/Platinum

  • Specific Dates and Mint Mark (a letter indicating where the coin was made)

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Sell your high value coins | Coin Collection Selling Tips | Grand Rapids Coin Dealer Mullen Coins

What are my coins worth?" is the most common first question I get from people who have inherited coin collections and accumulations from relatives. They are not collectors themselves, but assume because Dad or Uncle Joe saved these coins, they must be valuable. And, they could be.  However, because coin values are determined by a wide variety of factors, there is no simple answer. A better question to ask would be, “Who can help me sell my coins for the maximum value?”

Selling a rare coin is akin to selling an antique or fine art. Knowledge is power. A fine antique in original condition and in excellent shape can be very valuable… often many times the value of a lesser condition refinished piece. But if you’re a novice, how do you know if it is original? How do you know what defines “excellent shape?” An expert would need to help you by rendering a professional opinion about your antiques or fine art. Coins are very similar.

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PCGS NGC Michigan State Numismatic Society 

Mullen Coins, LLC, Coin Dealers, Supplies, Grand Rapids, MI

 PMG Authorized DealerWest Michigan Coin Club