Hobbies And Interests
Things You'll Need
Instructions
Examine your gold coins under good lighting and with a magnifying glass. Their value will be affected by scratches, wear and fingerprints. Begin assessing your coin's value by determining its condition.
Match your coin to one of the designated grades.
Look through some coin collecting books at your public library to learn if you have any rare, manufacturing error or high-demand coins. A coin does not need to have a manufacturing error or be in short supply to be valuable or in high demand. The first year of a design change will create added interest, for example.
Visit one of the Internet websites that offers free access to current gold coin prices. One such website is the United States Coin Pricing Guide. This website is easy to navigate and shows closeup photos of each coin along with prices for each grade.
Buy a current coin value book if you have a larg collection or you plan to continue collecting gold coins. Some of the books offer useful information on how to collect coins as well as the most sought-after gold pieces. Although the prices were accurate at the time of printing, they will still give you a good assessment of the value of your collection.
Visit some auction house websites to track the recent selling price of your coins. This will help to establish their current value. Read the descriptions carefully to be certain that the coins sold were of the same year and grade as your own. An Internet search will provide many auction companies that handle gold coins and post the recent selling prices on their website.
Attend your next local coin show. Dealers know the business of collecting coins and can provide an accurate appraisal of your gold. This service may or may not be free depending on how many coins are in your collection. You can note their selling price for coins that are similar to your own.
Stop by your local coin dealer for a professional appraisal. A written appraisal is necessary if you plan to insure your collection. Standard homeowner's insurance policies do not cover coin collections. Expect to pay a fee for this service.