CAN EARN YOU A FORTUNE !
FAIR MARKET COIN VALUES
The process of determining coin values in the market have significantly changed over the years. Though only recently introduced to numismatics and collectors, the term “fair market value” has actually been largely used in other businesses and markets for a while. In terms of coin collecting and coin grading, it indicates the amount of money a professional dealer demands for a sample, and normally exceeds the wholesale price. To be able to buy wholesale, as dealers do, you must also be ready and willing to take on similar risks. This could mean setting up your own business, dealing with the insurance and legal complications, finding assistants whom you will, of course, have to pay to determine coin values.
Determining Coin Values
Many dealers have gone to a great deal of trouble to become well-versed in numismatics and detecting coin values. From their point of view, the field is not just a pastime, but as a means to support themselves. Even so, some collectors are far from being mere amateurs because their expertise may rival that of a good dealer.
Moreover, numismatics can be more than just a business whether you are a dealer or a collector. People on both ends of the deal may develop a genuine devotion to this field. When you work with a dealer, evaluate the market and competition, as well as his or her attitude, resources and reputation so you can decide whether dealing with him or her will benefit you.
You may ask how one arrives at coin values which are called fair market. Quite simply, this is what dealers charge after they have marked up the wholesale price for the object. Of course, this begs two questions. Firstly, how does one arrive at a wholesale priced value of coins; and secondly, how does one decide how much to mark up a coin?
The answer to the first question is research. Any competent, fair information source on coin values will have done research in order to find the lowest possible wholesale value of coins. The markup, however, depends on how rare the coin is. The more samples there are of a specific coin of a particular grade type, the more rivalry exists between the dealers that sell and carry that coin. Therefore, they will be competing with each other to see who can offer the lowest and most attractive price. Conversely, the scarcer the coins, the higher the dealer’s profit margin and this is only fair.
Arriving At the Right Coin Values
This is why the many thousands of numismatists around the world still prefer to look at coins themselves. A dealer will only be willing to increase coin values if he likes its appearance and if the dealer’s hypothetical buyer would only be willing to pay a fair market value for coins that look pleasing and valuable to him or her.
If people were not willing to pay these prices, then the listed wholesale and retail prices of coins would have to be lowered in order to make a sale. The fair price value of coins attached by a trusted authority can give a good indication of coin value. This can also convince people that a particular coin is worth a look, especially if they had suspicions or second thoughts about value of coins.
Still, one must be very careful when viewing information about very rare coins, such as those that are one-of-a-kind. In such cases, many dealers simply charge the price they want, since there is little competition. You are advised to look at other similar semi rare coins, to see if the price you are being charged is worth it.
If not, you might want to buy something else. The owner of this site has done a great deal of research in order to post the information here. However, site users must remember that the value of coins and prices posted here fluctuate.
The value of coins goes up and down. We guarantee to have the best value of coins available. Remember that a well-informed clientele keeps dealers competitive, and competition helps to lower prices. The coin information on this site is well-researched, and is easily available to you.
Be aware of them and you cannot lose. Even so, it would benefit you to do some other reading on the services always available to you as a coin collector. Do this in order to take the best advantage of your dealers’ coin values.