Have you always been fascinated by rare coins? Are you always on the lookout for rare coins to add to your collection? Collecting unique or uncommon coins is not only a fun hobby, it can be a great way to grow your wealth and secure your financial future. But, if you’re just getting started in the world of rare coins, you probably have a lot of questions. Below are some of the most frequent ones we hear. If you have additional questions or would like to learn how to get started investing in rare coins, contact Austin Rare Coins & Bullion.

 

 

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What Makes a Coin “Rare”?

A rare coin is one that is in good condition and known to exist in very limited quantities. Many people often think that because they have coins in their possession that are over 100 years old that they must be rare. Unfortunately, this usually isn’t the case. Some modern-day coins are considered rare because, although there were many of them made, some of them had errors. Most printing errors are recycled, but in some instances, they enter circulation and become collectibles.

 

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How Is a Rare Coin’s Value Determined?

A coin’s value is determined using the Sheldon coin grading scale that assigns coins a number from 1 to 70 and a descriptive word of either mint, very fine, good, or poor. The rating is based on factors such as how well the coin was made, how much wear it’s developed, and the luster. Third-party grading services such as the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS) are two of the most well-known and respected coin grading companies. They keep strict records of how many coins from a given date and denomination have been certified.

 

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How Do I Find Out What My Old Coins Are Worth?

It’s common for people to hold on to old coins they come across and sometimes they’ll even inherit old coin collections from family members who have passed. The best way to determine if your old or rare coins hold any value is to have them appraised by a reputable coin dealer. They will usually want to see your coins in person to determine a fair market estimate. If you don’t want to head to an appraiser just yet, but would rather do some research on your own, the Red Book of Rare Coin Prices has been the trusted coin value reference guide for over 70 years.

 

 

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How Do I Sell My Rare Coins?

If you have a rare coin or rare coin collection that you would like to sell, there are a few ways that you can do it. The most widely used method is through a rare coin company or coin dealer. You can also sell them on an internet auction site, but keep in mind that you will usually have to pay a pretty sizable fee to the auction company. Finally, you can also work with a rare coin broker who will sell your coins for you.

 

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If you have a rare coin collection that is worth at least $5,000 and you are interested in selling it, contact Austin Rare Coins & Bullion. Once we understand your holdings, we can give you bids based on current market conditions.

Looking to add to your rare coin collection? Shop our large and ever-changing offerings of rare coins certified by the PCGS and NGC.