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Gold Star Jewelry & Coin Co Buys, Sells and Loans INSTANT CASH
for Gold and Silver Coins
Determining the Value and Price of Coins
There are many factors that go into determining the price and value of a particular coin. First of all you must understand the difference between "price" and "value". To most people these two terms are used interchangeably. To coin collectors they mean different things. The "price" of a coin is what you pay for that coin when you purchase it from a dealer. The "value" of a coin is what a dealer would pay to you for the coin. The coin market is intricate and complex and there are many factors that influence coin prices and values. The following are the major factors that determine values and prices of coins.
The major influence on the value or price of a coin is the supply of that particular coin in a particular grade that is available for people to buy. The total possible supply available to the market is determined by the initial mintage of that coin. For most countries, at the end of a year, the coin dies with that year on it are destroyed and never used again. Hence, once a year is done the supply of that coin for that date is fixed (note: this does not take into account restrikes).
Many factors influence the demand for a particular type and/or date of coin. In the early 1900s coin boards became popular which greatly grew the coin collecting hobby in the United States. Additionally, marketing campaigns by coin dealers have also increased the demand for certain types of coins. For example, during the depression coin dealer B. Max Mehl advertised all over the country that he would pay $50 for any example of a 1913 Liberty Head Nickel. As a result, many people started collecting coins while they were looking for this valuable coin. In recent history, the 50 State Quarters Series by the U.S. Mint started all whole new generation of coin collectors. In 2009, the Lincoln cent was redesigned and many people became interested in collecting Lincoln cents again. All of these factors were in part responsible for increasing demand and driving up prices and values.
3. Melt Value
If a coin is made from a precious metal such as gold or silver, the intrinsic value of the metal contained within the coin can be a major factor in determining the value and price of it. In 1965 the United States began switching the composition of its dime, nickel, and half dollar from 90% silver to a base metal that consisted of copper and nickel. Therefore, well-worn U.S. coins dated 1964 and before are worth more for their silver content than they would be to a collector. Therefore, as the price of gold and silver rises and falls, so to can the prices and values of gold and silver coins rise and fall accordingly.
It goes without saying that coin collectors would like their coins to be in the finest condition possible: uncirculated. In order to obtain coins that look like they just came off the coining press at the mint, somebody must remove them from circulation and store them safely. In the early and mid-1800s, very few people collected coins in the United States and uncirculated examples are rare and more expensive. However, in the 1930s and 1950s coin collecting was popular and many people saved mint state specimens.
We Loan Buy and Sell
Gold Star Jewelry & Coin Co has been buying and selling coins and currency for over 35 years. We specialize in buying rare coins and currency such as gold and silver coins, silver dollars, proof sets, complete collections, and estates, investment holdings, all collector coins as well as US currency from 1934 and earlier. We also offer cash loans against the value of your coins.
Q. What type of coins do you buy?
A. Gold Star Jewelry & Coin Co purchases both US and foreign gold and silver coins, and currency such as:
We also buy foreign coins made of gold, silver and platinum!
Q. What type of paper currency do you buy?
A. We purchase:
A. There are a lot of factors to consider when appraising a coin's value. Some of these factors include: condition, date, circulation and rarity. For your convenience we offer free in-store appraisals of your collections while you watch.
Gold Star Jewelry & Coin Co is open Monday through Saturday 10:00 AM until 6:00 PM. We're located at 7048 N. Clark Street, Chicago IL 60626; Phone: 773.942.6556.
Come in and see us . . . You'll be glad you did!