Well, the first place to look is in a book. If it is a United States coin, use the Red
Book or the Blue Book. But, these may be
wrong, especially with the precious metal coins.
Why do both exist?
One is the value when buying, and the other is the value when
selling. Dealers get sheets with regular
updated prices, but those too change.
Simply put, the coin is worth what another person is willing
to pay. And sites like eBay can help you
determine this. But, how? Well, it takes work, and a little time. Suppose I want to place a value on coin, and
have no clue what it should be. eBay has
a what is it worth button, but that does little with coins. Suppose I want the value of a Perth Mint 2
ounce silver dragon. I enter the
description into eBay, and get a value that picks up series I coins, series II
coins, and even ½ ounce coins. I may
also get some with the 2 in the year.
And, colorized, proof, and gilded coins will also be considered. They all have the description entered. And, refining the description too much will
get too small of a sample.
Instead of using a short cut, watch several coins that are
up for auction. And, watch only those with
several bids. A coin may bid to $60, but
the one starting at $40 may get no action.
People want the one others want, and many people will show interest at
99 cents. Getting a snapshot of prices
is invalid, since prices can change extensively in the last seconds. People will bid to where they are
comfortable. And, do add the final price
and the shipping. While people may miss
the shipping in some categories when bidding, coin buyers are quite astute and
do mentally add the numbers.
One thing that studying coin prices quickly reveals is that
when the price of precious metals drops, people stop selling. With only a few available, you may get a nice
final value, although this is not certain.
It is a case of supply and demand, and items bid on by a large group is
a reasonable indicator in most cases.
I a good sample cannot be obtained because there simply are
too few coins available like the one you want, you may have to simply use the
books and other resources.
A Guide Book of United States Coins 2014 (The Official Red Book)
Handbook of United States Coins 2014: The Official Blue Book (Handbook of United States Coins (Paper))
Black Spaniel Gallery Website
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