Coin appraisal - an important part of coin collecting

The art of coin appraisal is a large part of coin collecting itself. While valuers and dealers can provide approximate valuations, self-appraisal is an enjoyable and educational skill to possess.

There are a number of books available to help the amateur and professional collector with their coin appraisal. Highly recommended is the Official Red Book of US Coins by R.S. Yeoman, often referred to as the ‘Red Book’. Long considered the benchmark in the retail value of American coins, the Red Book has been published since 1946. Its companion, The Official Blue Book of US Coins, indicates wholesale coin values. The Standard Catalog of World Coins by Krause and Mishler is recommended for appraisal of old and new coins worldwide.

Coin appraisal - accuracy relies on two points: identification and condition

Determining the value of a coin collection is reliant on two points: accurately and properly identifying the coin at hand, and grading that coin on an observation of its condition. Coins are graded on a specific 0-70 point scale devised by Dr William Shelby, and the higher the grade of a coin the better its quality and the higher its value to collectors. Assessing coins on these grades takes practice, but is possible even for a casual collector.

Identifying the coin to be appraised is equally as important as its condition. This can be started by answering the questions below.

• When and where was the coin issued?
• What is its primary metal composition?
• What is its diameter?
• Does it have any unusual qualities?

Catalogues and reference books are invaluable tools for successfully identifying mystery foreign and domestic coins, and dealers, clubs and online newsgroups can also be of assistance.

The value of a coin is influenced by a number of factors, including a coin’s rarity, authenticity, condition and the demand for it by collectors. A thorough physical examination is important, and these factors can all be assessed accurately with correct coin appraisal.

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© The Pink Fridge Online Magazine 2011 - Coin Collecting UK

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