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Factors that Dictate the Value of Coins

Posted on July 16th, 2017 by JoeG

Circulated

Circulated coins are released into circulation after they have been minted. Some coins are reclaimed by the United States Treasury because their face value is lower than their intrinsic metal value. This has happened to many coins over time, and the coins that have remained in the hands of people and coin collectors are the surviving coins. If the survival rate is a low number, this could give your coin more value.

Demand

The Demand for specific coins and collections has varied for decades. For example, during the great depression a coin dealer named B. Max Mehl was offering $50 per every 1913 Liberty Head Nickel. This caused a high demand of this coin at the time. Understanding the demand of certain coins takes close attention to the coin industry.

Melt Value

The composition of your coins could be very valuable to a Chicago coin buyer. If your coins are made from precious metals like gold and silver, your common date coinage will rise and fall with the gold and silver markets. Even if it is not a precious metal, something like copper or nickel, can be very valuable depending on the date, mint, mark, and condition.

Condition/Grade

The finest possible Uncirculated or Proof condition is always best for your coin to have a high value. Coins taken out of circulation are stored for collection are highly sought after for their original pristine condition. It is important to note that “good condition” is one of the worst condition grades and people misuse this term to try to describe what they feel are high grade coins. It also does not mean a newly cleaned and polished coin is something that collectors want. That being said–you should never clean your coin! A Chicago coin buyer at Chicago Gold Gallery will prefer your coins to be as close to it’s original and natural state. Cleaning your coins will not increase their value, it always decreases their value.

If you are ready to sell your coins to a Chicago coin buyer, consult with Chicago Gold Gallery. Our Chicago coin buyer is a knowledgable numismatist in the industry, helpful, and passionate about coins and other precious metals. Visit us at Chicago Gold Gallery today.

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