San Diego Union-Tribune (Sunday)
Coin value depends on metal content and collectibility
Do you have a large collection of U.S. coins? You can get an idea of what its worth by knowing the types of values for coins.
There are three different types of coin values, explained coin expert Alan J. Weiss.
The first is the face value. A coin is always worth at least its denomination, such as 10 cents for a dime.
The second value is the metal value. If a coin has any silver or gold content — and more recently, platinum and palladium — then the coin is worth the current value of that metal content. In the past, U.S. coins were 40 percent, 90 percent or even 100 silver. With metals recently at historic highs, this can bring significant value to otherwise common or worn coins. An analysis of a coins will reveal if it has metal value.
The third value is collector value, which means a coin is desirable enough for someone to want to buy it. This is the most complicated and complex category of the three, because it involves condition, rarity and grading.
The condition can be observed by checking to see if the design of the coin is clear and crisp and if it has scratches, nicks, gouges or other undesirable problems. A coin’s value also depends on if it has been cleaned, polished or otherwise altered.
There are two types of scarcity or rarity: absolute rarity means the coin is rare in any condition or “grade.” Condition rarity means the coin is rare only in higher grades of quality. Both types of rarity command significant premiums.
To get an unbiased opinion about condition and scarcity, coins can be graded by fee-based professional companies. Two companies well known for grading coins are Professional Coin Grading Service (PCGS) and Numismatic Guaranty Corporation (NGC). Professionals agree that it is usually not advisable to pay for the cost of grading unless a coin is expected to be worth $500 or more.
To arrange for an appointment to have your U.S. coins evaluated for possible purchase, contact Alan J. Weiss at (858) 692-5057. Weiss, an Air Force veteran with more than 30 years of local experience working with U.S. coins and worldwide stamps, is planning on retiring soon.