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Money.
Who couldn't use more of it? And what better exemplifies money
than "Coins"!
When
people think of "Coins" they generally think
in terms of "Face Value" coins, but there are
other various forms of coins as well, each having a different
level of desirability and value. This "Michael Ivankovich
Coin Guide" is intended to introduce you to some of the
various forms of "Coins" you may find in any typical
household or estate.
- Face
Value Coins: "Face Value Coins" are basically
"Pocket Change" and value is the legal tender
value that is stated on each coin, e.g., 10 cents, 50 cents,
etc. Coins cannot be worth less than Face Value, but
they can often be worth much more than Face Value.
- Numismatic
Value Coins: "Numismatic Value" is often
used to refer to the value in excess of the coin's "Face
Value". Numismatic Coins are "Collectible
Coins" and Coin Collectors will pay a premium
price over Face Value for certain coins, depending upon
such factors as the Denomination (dime, quarter, half
dollar, dollar), Type (Morgan Silver Dollar, Walking
Liberty Half Dollar), Mint Year (1899, 1910), Mint
Mark (D = Denver, S = San Francisco), Quantity Minted,
Rarity, Condition (Un-circulated, Very Good),
and Certified Professional Grading (PCGS, ANACS, NGC,
etc.). Certain Numismatic Coins are more highly prized
than others with Rarity and Condition having a
significant impact on any coin's value.
 Junk
Silver Coins: Prior to mid-1960's, most U.S. dimes, quarters,
half dollars, and dollars were minted with 90% silver. Regardless
of Face Value and Numismatic Value, and regardless
of Condition, the silver in Junk Silver Coins
makes these coins worth many times their Face Value.
The value of Junk Silver Coins will vary upon the daily
"Spot Price of Silver" (the silver spot price
changes as frequently as the stock market), and the "Percent
of Silver Spot Price" a buyer is willing to pay. Depending
on the current silver spot price, the value of these coins can
be many times face value and the value is often quoted in terms
of "times face value". For example, a junk
silver dime, trading at "12 times face value", would
be worth $1.20. Junk Silver Coins cannot be legally melted
and are often sold to investors by the bag ($500 bags, $1000
bags, etc.). Since there is no "melting" expense,
buyers will often pay a higher percentage of the spot price
for Junk Silver Coins than they will, for example, for
sterling silver flatware, which must be melted and refined before
it can be re-sold. Certain Junk Silver Coins are more
highly prized than others and buyers & investors will pay
a premium price for such coins.
- Gold
Coins: The U.S. Mint issued Gold Coins in various
denominations up through1933. These represent some of the most
highly sought-after U.S. Coins and value will depend upon the
Denomination, Type, Mint Year, Mint
Mark, Quantity Minted, Rarity, Condition,
and Certified Professional Grading. With gold trading
at today's high level, these coins can have substantial value,
especially the rarer coins in un-circulated condition.
- Bullion
Coins: Bullion Coins are not intended for general
circulation but are produced for precious metal investment purposes.
Bullion Coins are typically produced in gold, silver,
or platinum and have a precious metal purity of 99.9%. One troy
ounce is the most frequently found weight, but other weights
are also produced. The U.S. Silver Eagle and the U.S.
Gold American Buffalo are examples of U.S. Bullion Coins.
Many other countries around the world also produce their own
Bullion Coins, with the Canadian "Maple Leaf",
South African "Krugerrand", Chinese "Panda",
and Australian "Kangaroo" being just a few
examples of international Bullion Coins. The value of
these coins will vary with the precious metal spot price and
desirability of the coin.
 Bullion
Bars: Often found with coins are "Bullion Bars".
There bars are usually minted in .999 fineness (99.9% purity),
can be gold or silver, and are typically found in sizes from
1 to 100 troy ounces. Value is based upon the current precious
metal spot price. Engelhard represents one of the most preferred
Silver Bar refineries, but many others will be found as well.
Collectibles companies such as the Franklin Mint also
issued "Collectible" Bullion Bars on
a variety of subjects. Collectible Bullion Bars will
usually be pure .999 silver or sterling silver (92.5% purity),
and 1 troy ounce or 1 avoirdupois ounce, although other purities
and weights will be found. Today's value is almost always based
upon the bar's purity, weight, and precious metal spot price
rather than it's collectible value.
- Foreign
Coins: These are generally the most difficult to evaluate
because of the huge variety of countries, denominations, mint
years, and metallic compositions that must be researched and
evaluated. You should simply understand that there are fewer
Foreign Coin collectors than United States Coin
collectors in this country, and Foreign Coins are generally
less desirable than U.S. Coins. Although some Foreign
Coins include precious metals, most do not.
 Tokens
and Medals: Often mixed in with household and estate
coins are "Tokens" and "Medals",
Tokens can range from Bus Tokens, Train Tokens,
Amusement Park Tokens, and Event Tokens. "Medals"
as defined here do not include Military Medals. Rather
this would include such items as Presentation, Fraternal,
Religious, Commemorative Event, Civic Event,
Business Anniversary, and other similar medals. Value
on Tokens & Medals depends primarily upon collectability,
rarity, condition and precious metal content. While a few can
have significant value, most have only nominal value.
* * * * * * * * * * * * * * * * * * * * * *
In
summary, certain household and estate coins can have substantial
value and you should be very careful never to sell them for less
than they are truly worth, We highly recommend that you learn
the in's and out's of selling your coins and, if you are unsure
of what to do, have your coins evaluated by someone who does not
have a vested interest in purchasing them as cheaply as possible.
If
you are not sure what to do. give us a call. We specialize in
helping clients sell their precious metal items for the most money
possible. We are professional appraisers and we do not buy. Rather
we understand the gold & silver selling process and negotiate
on our client's behalf to help them maximize the amount they will
receive.
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