Coin collecting is a profitable hobby. You may come across coins that could potentially earn you thousands of dollars and not realize it. Many rare coins are still in circulation, being used at face value only. It is important as a coin collector, or even just as a consumer, to know the value and rarity of different coins. You can get information about the current value of different coins within the coin marketplace on your own, or consult with a coin dealer for specific information about coin series and other properties.

Research Your Coins

Visit Heritage Auction Galleries for some general values of various coins (see resource 1). When you find your coin on the list, read the detailed information carefully before assuming that the price applies to your coin. Many factors will depreciate the values of coins. Circulation is one of those factors.Often, there is a marked difference in the prices between circulated and non-circulated currency. Note that the high end of any price range applies to the most rare coins in that category. There is information in the description about which coins are rare and which are common.

Get An Appraisal

Know your estimated value before visiting a coin dealer. Coin dealers are in business to make money, and they may not be the best source for accurate prices. They could easily pay less than half of market value for a coin from an unaware seller. You could, however, protect yourself from misinformation by explaining to the dealer that you do not intend to sell the coin, and just want to have the coin appraised. Only visit professional coin shops with reputable appraisers. If the dealer asks you to pay for an appraisal, go somewhere else. Most coin appraisers will offer their services for free. They may, however, offer you a price to buy your coin from you. Sell the coin if you want to, but know that the free appraisal does not obligate you to sell.

Source:

Heritage Auction Galleries

Wise Geek

Resource:

Heritage Auction Galleries