The Profitable Market Of Coins

pandapoef (49)in #money • 7 years ago (edited)

The Profitable Market Of Coins

There is a chance that you are currently in possession of a coin that is worth 20 times its original value. The value of the coin is determined by its rarity. Usually it grows if the country is small, when the coin is originated from a bigger country the value drops. Collectors often divide the coins by country such as 'Spain, Monaco, France,..' By doing this it’s also easier to create an overview of your inventory.

So the question is which coins should I collect?

If you want to start in this lucrative business/hobby you need to look up the market value of your coins because this is important when you are going to buy and sell them with profit. Luckily for us there is a 'coin grading system' which you can easily look up if you are interested in it. This system is one of the key factors in knowing its value. So it’s very important to understand what we are talking about. The 'grading' itself is based on a few aspects such as the demand of the coin, the melting value, the preserving of the metal but also how much damage did the coin ran into since it was made. And of course the dealer his/her personal stock is also something to keep in mind. In the next part the coin grades are more explained in detail.

Poor (PO-1)	Rims are mostly gone and the date is missing also the surface of the coin will be flat.
Fair (FR-2)	The date should be visible to identify the coin but the rims are most likely gone just as the image.
About Good (AG-3)	Most parts of the coin is heavily worn or outlined. The date is most likely barely visible.
Good (G-4, 6)	Heavily worn but you can still categorize the coin. Most parts of the coin aren’t visible anymore but you should be able to read the date, see the rims and identify the image.
Very Good (VG-8, 10)	Medium wear, but some details like the letters of the coin will still be recognizable.
Fine (F-12, 15)	The design of the coin is intact with moderate wear same goes for the letters and rims of the coin however some parts of it will still have small damage.
Very Fine (VF-20, 25, 30, 35)	The design of the coin is intact, same as Fine. But all letters are included with only difference of containing medium wear on the highest points.
Extremely Fine (XF-40, 45)	Very light wear on the coin almost containing no worn with all the design intact such as the image and letters.
About Uncirculated (AU-50, 53, 55, 58)	The coin has a minimum of 50% of its mint luster present. The wear is very light. Also known as Almost Uncirculated.

Below are some visual examples of the explained grades above.

How to sell your coins?

On this point you are probably asking yourself ‘where can I sell my coins.’ There are various ways to get rid of your coins. However I personally suggest you don’t sell them at pawn shops because they won’t compensate for what it’s actually worth. Instead you should search a decent online auction house or market place specialized in coin trading such as ‘Great Collections’ , ‘Künker’ , ‘Warwick & Warwick’.

http://www.greatcollections.com/
https://www.kuenker.de/en
http://www.warwickandwarwick.com/

Some interesting links

Coin Collecting PDF For Beginners
http://myweb.tiscali.co.uk/westondartsleague/pages/Coin-Collecting-For-Beginners.pdf

10 Rarest and Most Valuable Coins in the World
https://www.thespruce.com/rarest-and-most-valuable-coins-768161

Coin Collecting Guide from A - Z
http://www.silvercoins.com/coin-collecting-guide/#facts

THANK YOU ALL FOR READING I HOPE YOU LIKED IT

#collecting #advice #profit

7 years ago in #money by pandapoef (49)

$3.37

9 votes