Have coins evaluated
After all, you are happy that you got your aunt’s coin collection as a gift. But you would be even happier if you knew what it was worth! At Rarecoin you can have your coins valued quickly and professionally. Within a short time you will receive a fair and objective valuation. This can ultimately serve as a basis for further decisions.
Perhaps you have inherited a collection or received it as a gift as a child. And now this very coin collection has fallen into their hands again. To find out what treasure you have in front of you, you do not have to be an experienced numismatist yourself. No matter if it is a single piece like the Krugerrand coin or a whole collection: As coin specialists, we at Rarecoin are able to objectively determine the value of your coins.
In addition, our comprehensive range of services includes the fair and secure purchase of coins. You do not want to sell your collection, but expand it instead? Then, of course, you can buy coins here.
Determine (have determined) the value of coins: Tips for heirs and coin collectors
Anyone who unexpectedly comes into possession of a coin collection often does not know how to deal with it. Maybe you will start your “career” as a coin collector with the inherited gold coins from China. But perhaps you consider the coins as a form of investment.
But even experienced numismatists can benefit from a professional valuation by an expert. It is enormously important who they hire to appraise your coin collection.
Example: Some time ago, an old five DM coin was offered at an online auction. This was the first commemorative coin of the Federal Republic of Germany. Due to the high collector’s value, the hammer finally fell at a sum of 273.15 euros. An exchange at the Bundesbank would have been at the current exchange rate and would have earned the seller only 2.50 euros.
Thus, the sale of a coin collection requires professional assistance. And trust. So how should you proceed if you have gold coins at home whose value you do not know?
The value of a coin
First of all, it is helpful and also exciting to get to know a little bit about the subject matter yourself. The value of a coin is measured by various factors, such as
- the type of coin: A distinction is made between bullion, collector and circulation coins.
- the condition of the individual specimens.
In addition, the year of mintage, the mint and the motif of the silver, gold or palladium coins can influence their value.
Collector coins, bullion coins and circulation coins: These types of coins exist
Basically, coins can be divided into three main categories:
Course coins or also circulation coins
They are considered the official coin currency of the issuing country. At the current time, they thus serve as an everyday means of payment. Their value corresponds exactly to the stamped nominal value. For this reason, circulation coins are made exclusively from base metals or alloys. Because that way they are not only particularly robust. They would also be too valuable otherwise.
Example: A one-euro coin weighs about 7.5 grams. If the coin were made of pure silver, its material price would be seven times higher than its face value (as of October 2022)
Regular euro coins are issued in a total of eight denominations. In addition, the mints are allowed to mint special commemorative coins no more than twice a year. In principle, these coins can also be used as regular means of payment. But due to high demand, they already exceed their nominal value when purchased. So in this respect they hardly differ from classic collector coins.
Commemorative coins belong to the collector coins, the second of the three categories. They honor special events, people, animals, or are dedicated to other significant topics. Despite their nominal value, they are also not used as a means of payment. Collector coins are also known as numismatic coins and are characterized by strictly limited mintages. As a rule, they are available with a certificate of authenticity in a decorative coin case.
Bullion coins are also recognized as legal tender in their country of issue. They are based on the market price of the materials used. Their value is determined by their fine weight and purity. They are characterized by high editions and mostly recurring motifs. They are also recognized worldwide. Although the price of these coins is highly dependent on the price of commodities, you can get huge returns on investment coins.
Note: As the oldest bullion coin in the world, the South African Krugerrand is already celebrating its 55th birthday this year. Particularly valuable are specimens that were valued and kept separately by the South African Gold Coin Exchange until 1974.
How much is a coin worth? – First clues
Before you have your coin appraised, you should first get an initial overview. Basically, the value of a coin is measured by various factors. They include
- Mint year
- Fine weight
- Manufacturing process
- Conservation status
- Collector demand
1. look closely
Of course, as a layman, you have neither the technical equipment nor the same expertise as long-time coin experts. But you also recognize obvious signs of use. But note that scratches or slight dents do not necessarily have a negative impact on the selling price. In fact, the opposite is often true. For example, a natural patina on antique silver coins is an indicator of the coin’s age. This in turn can have a value-enhancing effect.
2. use the internet
Before you contact a professional coin dealer, it is worth doing some initial Internet research. Because on the Internet you can not only buy gold, but also learn about coins. While basic facts are no substitute for estimating individual one-offs. But you can see if your coin is a limited edition/mintage. In most cases, it is also possible to find out what the average purchase price is.
Besides internet presences of professional organizations and other coin professionals, sales platforms also provide initial clues. However, you should always be a little skeptical of private purchase offers. Due to the respective individual degree of preservation of coins, a pure online valuation is almost impossible, especially for antique specimens. In addition, buyers often bid much less than your collection is worth to make a profit.
3. research in catalogs
In addition, you can look up the value of your coins in the catalog. Online editions are also available, as well as printed copies. Rare coins from Germany, however, are usually listed here only from the founding of the Reich in 1871.
Alternatively, you have the possibility to filter coin collections of museums and universities on the Internet according to desired criteria. This way you can also better estimate what your collection might be worth.
Finally, specialist journals provide information about mints, years of minting or motifs of different collecting areas.
4. get to know technical terms
Another helpful step before getting the value of your coins appraised: Learn the meaning of technical terms. Particularly important in this context are the individual mintages and degrees of preservation. They are strictly demarcated from each other and can cause significant price differences even with a slight deviation:
- Polished Plate: The most complex and expensive machine manufacturing process uses polished punches and polished blushers. This creates a particularly strong contrast between a glossy background and a matte motif. Coins with a PP designation are rare and usually particularly valuable.
- Mirror finish: Polished dies are used for minting here as well, but not polished rounds. Nevertheless, coins with mirror finish resemble the polished plate. If there are corresponding specimens in your collection, this can mean an increase in value compared to identical coins with mint condition.
- Stamp gloss: The majority of all coins are minted in stamp gloss. You should not be able to see any clear flaws here with the naked eye. The manufacturing process does not add value to the coin.
Also part of the common usage of numismatists are adjectives used to define degrees of preservation.
- On a coin graded as excellent, all minting details are clearly visible.
- Very nice are coins with slightly worn details and a motif with easily recognizable contours.
- Among coin enthusiasts, beautiful does not mean “beautiful” in the aesthetic sense. Rather, beautiful coins show clear signs of use. Only the outlines of the embossing are still clearly recognizable.
- Low preservation stands as a euphemism for “not at all collectible”.
Where can you get coins valued?
Of course, you can handle it conveniently and have your coins appraised right in your neighborhood. However, keep in mind that seriousness and experience are important factors to judge coins correctly. Look around on the Internet beforehand here as well. If in doubt, get two separate opinions.
You can also go to a bank to have your coins valued. In addition to the Bundesbank, savings banks are considered the first point of contact here. However, private banks with affiliated coin trading will also be happy to provide you with their knowledge.
A sworn appraiser at a reputable auction house can also determine the value of your coins quite accurately. The Chamber of Industry and Commerce can provide you with an up-to-date list of relevant contact points.
Numismatic clubs are also popular places to go. But not every coin lover is also a coin expert. However, at fairs or coin exchanges you will meet not only collectors, but also professionals. You can usually rely on their fair and objective assessment. An initial assessment is already possible on the basis of submitted photos. For a precise analysis, however, it is necessary to look at the original.
Have coins valued by your coin expert
To have your coins appraised, be sure to consult a trusted coin dealer. You can rely on the expertise and sincerity of Rarecoin. With the highest level of competence, our experts first check your coins for authenticity. In the second step, we assess the quality of the coin. In addition, we inquire how high the demand for the respective coin currently is.
No matter whether the coins are made of gold, silver or other precious metals – such as platinum or palladium: You will receive a precise indication of value at the end. We take into account all the criteria that are decisive for the price of a coin. In addition to the purchase of your collection (optional), we will give you further tips and show you with which valuable coins you can complete it.
All this is not enough for you? No problem! Upon request, Rarecoin will submit your coins to Numismatic Guaranty Company (NGC) or Professional Coin Grading Services (PCGS) for second and third opinions. For decades, the two internationally active service companies have been authenticating and grading coins neutrally and independently.
Appraise coins yourself
Alternatively, you can get a more accurate picture yourself. Because at Rarecoin you can also get the necessary equipment to value your coins yourself:
- With the help of the “eddy current measuring principle”, the Goldanalytix-GoldScreenSensor literally gets to the bottom of the value of the coins. It penetrates the coin material to the deepest layers. In this way, the device detects whether inferior materials have been processed here. Testing itself is quick and easy and can even be done through capsules, blister packs and foil packs.
- The Magnetic Screenscale is also very popular with individuals and retailers. The device detects even minimal inclusions of tungsten. Due to its density and heaviness similar to gold, the white shiny metal is often used for counterfeiting bars and coins. However, this is not visible to the naked eye.
Rarecoin: Your expert for numismatics
You have had your coins appraised – but you do not want to sell them, but enter the world of numismatics immediately?
Then Rarecoin is the right place for you as well. Your specialist from Wiesbaden offers you not only a diverse product range of popular, valuable and rare coins. Here you can also learn everything about your new hobby. You can call up the current daily rate of gold or look up technical terms unknown to you in the lexicon.
And although we are an online store, we are of course also available to you as a personal contact. Use the convenient contact form on our website or our convenient callback service. We are here for you!