What are my coins worth? is the most common first question we get from customers who have inherited coin collections and accumulations from parents or other relatives. They are not collectors themselves, but assume because Dad or Uncle Joe saved these coins, they must be valuable. And they might be right. 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?
Advice on Selling Your Coins
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.
Some of the incorrect assumptions people make about the value of rare coins are:
- Old coins are automatically rare and valuable
- Shiny means excellent condition
- Obsolete means valuable.
What really makes a rare coin valuable:
- Date and mint mark (some are much rarer than others due to mint production)
- Condition and originality (meaning uncleaned – do not clean your coins no matter how dirty!)
- Collector interest in type of coin
- Mint error or variety
- Silver or gold content
We believe lack of knowledge should not mean lack of value for the rare coin owner. Often when selling, buyers will lump all coins of similar type together and pay one price per coin regardless of rarity. When we meet with potential sellers, we look at every coin to identify rare dates, better condition coins, and varieties. We determine which coins are worth more than an average old coin and, while we will buy all your coins, we will pay a premium for those coins with more collector value.
Grand Rapids Coins specializes in helping people who are asking, “Who will buy my coins for the maximum value?” Check out our online reviews to see what others are saying about Grand Rapids Coins.
