There are many coin price guides published; weekly, bi-weekly, monthly and annually. They come in the form of magazines, newsprint, ?hot sheets?, and books. All of us have referred to one of these from time to time to ascertain what a particular coin might be worth. Yet, few of us stop to think about what we are getting from any one of these Price Guides, beyond the price or value of a coin. After all, don't price guides, just give you the price? What else is there?
Basic to an understanding of price guides are two things: 1) the Grade of the Coin; and 2) the Foundation of the price guide. Knowing the Grade of the Coin is required before one can begin. Saying so seems to be obvious, but what more does it mean?
Unless the coin is Graded by an appropriate Professional Grading Company, which has designated what Grade and Identity has been assigned to the coin, most of us are making an assumption about the actual Grade. This assumption we make can be very dangerous because of: a) the difficulty in grading a coin; and, b) the different possible outcomes or results that occur. One Grade ?point? or level can make the difference in hundreds or thousands of dollars in the Value of a Coin.
Price Guides assume that YOU already Know the Grade of the Coin. This is why we have the First Rule of Coin Collecting: Know the Grade of Your Coin.
Secondly, ALL Price Guides are founded on the same Principle, which is that the Coin, whose price you are looking up, has been Graded using one Grading Standard. That Grading Standard is set by the ANA ? American Numismatic Association ? and is entitled the Official Grading Standards For US Coins.
Therefore, ALL Price Guides have a ?silent assumption? built in to their guide; which is that the Grade that YOU decide upon, is the True or Accurate, and that such Grade is based on the ANA Standards.
The first difficulty that arises is that most people never know if the Grade that they have decided upon is Accurate. Of course, this difficulty never comes into question, if the coin is Professionally Graded by an appropriate company. There are only four (4) reputable Professional Grading companies that strictly follow the Guidelines set by the ANA, and they are: PCGS, NCG, ICG, and ANACS.
The second difficulty arises because of this ?silent assumption? or Foundation of all price guides is whether or not the Grade has been decided upon using the Guidelines or Standards established by the ANA. If you don't have the skills and training of a professional coin grader, the decision is probably questionable.
Even if you do have the skills and training of a professional coin grader, the decision is still probably questionable. Why? Because even professional coin graders have differing opinions. This is why the reputable professional coin grading companies require the opinions of three (3) professional coin graders to arrive at the ?Grade? designation to be placed on every coin.
The obvious conclusion is that a Serious Coin Collector is going to invest in rare and modern coins that are graded by one of the Top Four reputable Grading companies. It is the only certain way to eliminate the disagreements and arguments about the Grade of Any coin being Bought or Sold! It is the only certain way one can Value their coin collection. It also eliminates ?getting taken? or cheated buying raw coins.
Have fun collecting your Perfect Coins!
Robert L Taylor, JD Copyright 2006, Robert L Taylor, JD
As you well know we used different types of coins everyday. Most of us use those coins to buy goods; others use them in the field of coin collecting. Very often you may encounter a coin you think may be valuable but most of the time those coins have very little value in the eye of a coin collector. There is one type of coins that have garnered interest among coin collectors. Those are Canadian coins. Although finding Canadian coin prices may require more research than you think.
As you probably know coin dealers or coin appraisers use a certain grading process to evaluate the price of a coin. Although it is not an exact science, this process becomes more difficult if the coin is from another country. The best way to get a good idea about Canadian coin prices is to buy a book on the subject. From this book you should then be able to determine the best grading system for Canadian coins.
Once you have found the best grading system to evaluate your coins you should then try to evaluate the Canadian coin prices for your coins. Only then should you seek the advice of a professional coin expert. From the information you have gathered and his professional opinion you should then be able to have a good ideas about the various Canadian coin prices that you can expect to have in your collection.
One significant factor to remember is that the Canadian coin prices changes according to the current coin market so it is a good idea to be mindful of those fluctuations. When looking for an Expert, make sure that he is well-educated in various coins but also try to find one that will help you understand the coin market.
Make sure that the coin trader or numismatist you deal with is willing to answer every question you might have. Also always make sure that the Canadian coin prices you are being told are similar to the ones you find in your book. It is always a good idea to have other appraisals carried out.
Having multiple appraisals carried out will make sure you will get a clear picture of the value of your Canadian coins in your collection. Once you have a good idea of the prices of your coin you can now decide if you want to sell them or keep them. Always make sure you know precisely what the Canadian coin prices for your coins are before selling them.
Of course selling your Canadian coins is not the only option; After all you are a coin collector. You can also think about expanding your coin collection. With so many coins coming on the Coin collecting market you can find some rare Canadian coins to add to your collection. But always make sure you know their value before thinking about selling them.
I hope that the information above was useful to you. Cheers and thank you for reading.
Both Greent47 & Madcore are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Greent47 has sinced written about articles on various topics from Hobbies for the Family. Robert Taylor is a 59 year old retired Lawyer, from Denver, CO, who spent most of his career representing people who could not afford an attorney, and who has had a passion for collecting US coins. Wanting to share his Passion, he created http://www.The. Greent47's top article generates over 1300 views. to your Favourites.
Madcore has sinced written about articles on various topics from Recreation and Sports, Photography and Recreation and Sports. For more information about visit our website at coin-collecting-tips.com. If you liked our article about. Madcore's top article generates over 135000 views. to your Favourites.