How do You Determine The Value of Your Coin Finds

[dlt123me]

Since a lot of finds are in such bad condition, how does one go about selling them for more than their face value? How do you place a actual value, or worth of your coin finds from hunting? Are there any books out there that will help you determine their value? It would seem that a wheat penny would be worth more than 1 cent, or a mercury dime would be worth more than 10 cents.

Has anyone turned their coin finds in for more than what their face value is and how do you determine just how much your coins are worth? I realize the condition dictates their value, but where can you get an idea of how to realistically determine their worth? Do you take them to a coin shop?

I am hoping there are books that metal detector enthusiasts use to determine how much their finds are worth or help explain how to get the most value out of their finds. Is there?

I found this book for US Coin Collectors... Is this what some use?

Thanks,
Dennis

 

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[AMorgan]

Copper coins fare poorly unless the coin is a key date... Even then the copper coin with corrosion or environmental damage will often sell for less than 10% of the book value of the condition based upon details. Silver coins will usually bring melt value or something close to melt value. The Blue Book (U.S. Coins) will help establish what dealers might pay for a problem free coin... Red Book is more retail value or what a dealer might sell that coin for. Coinflation.com is a website that helps determine silver melt value of coins.

 

[dlt123me]

Copper coins fare poorly unless the coin is a key date... Even then the copper coin with corrosion or environmental damage will often sell for less than 10% of the book value of the condition based upon details. Silver coins will usually bring melt value or something close to melt value. The Blue Book (U.S. Coins) will help establish what dealers might pay for a problem free coin... Red Book is more retail value or what a dealer might sell that coin for. Coinflation.com is a website that helps determine silver melt value of coins.

You mean that the value of most of the sliver coins you find, are worth more melted than face value? That is sad, since it will take from the system the actual coin.

 

[AMorgan]

That is sad, but since silver is worth alot more than $1 per ounce, coins became more valuable for their metal content. There are some key date coins and even common date coins in Mint State grades that should never be considered to be sold for melt value...

 

[david680]

I love the redbook. It is the single handiest info guide on US coins there is. However, pricing is almost always high end retail and your chances of ever seeing that price is slim. I generally figure value by first figuring out whether a coin is basically a bullion coin, or if there is a real numismatic value to it. Bullion is easy. eBay is a good place to see what something is actively selling for, but you have to check the ended auctions to see the actual sales. People can put any price they want on something, its what it actively selling for that matters. You also have to take into account with eBay whether the pictures and item descriptions are detailed and accurate. I don't spend a lot of time pricing my MD'ing finds, they're not for sale anyway.

 

[jeff of pa]

for silver Current Melt Value Of Coins - How Much Is Your Coin Worth?

otherwise what ever someone will offer

Until a number is given it has no value

Once a Price is paid, that is what it was worth

 

[Sandman]

Its worth more to me to know I still have it.

 

[dlt123me]

for silver Current Melt Value Of Coins - How Much Is Your Coin Worth?

otherwise what ever someone will offer

Until a number is given it has no value

Once a Price is paid, that is what it was worth

Wow, many are worth much more in value for their metal than what their face value is worth. Sad.. A lot of coins will disappear from the market of coin collectors, or I should say, probably has already.

 

[MUD(S.W.A.T)]

Coin values are based on a scale from 0-70 zero being crappy and 70 being a perfect coin. It has to do with detail, wear and scratches or dings. It also depends on rarity. Most common silver coins like Rosie's, Mercs or JFK 90% halves are common and most coins like this are worth only silver melt like Jeff mentions. If you have a 1916 D merc. Its based on Grade from 0-70 condition, wear, dings and scratches. You look for details like hair detail or shield detail. Depending on the coin and the high points of the coin. Those area's tend to wear faster than the lower area's. All coins have area's like these and are judged depending on the coin. I suggest you get a Red or Blue book. These are price guides and will give you an idea of how to grade coins and get prices. All the best !!

Keep @ it and HH !!

 

[jfreakofkorn]

also you can look at eBay for recently sold item(s) pertaining the coin(s) you have

to get a current market idea ( unless its a key date coin )

 

[DixieLandMan]

I like the red book to see what it is worth and to see on auction sites to see what they are selling for. There can be a difference but as mentioned above, it is only worth what someone is willing to give you for it.

 

[dlt123me]

Thanks everyone. I now have an idea of what is going on... I will most likely keep all my coins anyway, unless I find something of real value and can be sold to buy my next detector. You have all been very helpful...

 

[bofusmosby]

I highly recommend getting the "Photo Grade" book. Not sure if that is the actual name. In this book, you will find high quality photos of coins in all the standard/basic conditions. This will give you a good idea as to how to grade a coin by it's condition. Also keep in mind that this book does NOT take into account the actual condition of the metal itself. This is just as important as the actual condition. If you clean a coin, then the value drops off. I must dmit, there are times that you will have no other choice, but to clean it. Just remember, all of this is harmful to the metal, to a greater or lesser degree. I remember many years ago I found this green/round object that had to be a coin, but I had no idea as to what coin it was. It was the size of a half dollar. Only after trying to clean it in a number of mild cleaning methods, did I finally have to be more agressive with the cleaning. It turns out that it was an 1825 Bust half Dollar in EF condition. Because of the cleaning, the coin was judged to be in F/VF. In this case, the cleaning was a necessary evil, and increased it's value above what a green/round looking thing was. If you ever find a key date coin in need of cleaning, NEVER try it yourself. Consult a professional.