When it comes buying and selling old coins, different people end up paying different amounts. The actual value of the coin is rarely how much the coin sells for. So how does a collector decide what old coin prices are acceptable?
Investing Versus Collecting
Old coin prices mean different things to different people. For instance, an avid coin collector might spend months searching for the best price on a sought after coin. Perhaps he will attend trade shows, consult with friends that are into coin collecting, or even search the many auctions for the best possible old coin prices.
On the other hand, someone who is buying old coins as an investment opportunity might not be so patient. Many coin investors will pay higher old coin prices because the value added to their investment portfolio will negate the extra cost of the particular coin. Investors also want to start making returns on their investment right away. If that means paying steeper old coin prices to have the coin today instead of later in the year, then so be it.
Old Coin Prices And The Art Of Haggling
Haggling over old coin prices is certainly acceptable. Most dealers will mark their coins up 100% or more so it is good to know what the coin is really worth. There are two pieces of info you need to know about old coin prices. You need to learn the wholesale price and you want to know the consumer old coin prices. Check the Blue Book and Red Book values, respectively, for this info.
Once you are armed with this knowledge then you are ready to get the best possible old coin prices. The key is to offer above the wholesale value but bellow the commercial value. This way you get a good deal and the dealer will sell.
This is true when buying coins at trade shows or auctions too. Knowing how much that coin is worth to a dealer and a consumer will ensure that you get a great deal every time. You will notice that many collectors don't know enough about old coin prices and so you will be in a position to get some great deals.
Making Money On Your Coin
Similarly a little knowledge goes a long way when selling your coin. By knowing the various old coin prices for your coin you will be able to sell it at a price that buyers can resist while still making a tidy profit.
Investing Versus Collecting
Old coin prices mean different things to different people. For instance, an avid coin collector might spend months searching for the best price on a sought after coin. Perhaps he will attend trade shows, consult with friends that are into coin collecting, or even search the many auctions for the best possible old coin prices.
On the other hand, someone who is buying old coins as an investment opportunity might not be so patient. Many coin investors will pay higher old coin prices because the value added to their investment portfolio will negate the extra cost of the particular coin. Investors also want to start making returns on their investment right away. If that means paying steeper old coin prices to have the coin today instead of later in the year, then so be it.
Old Coin Prices And The Art Of Haggling
Haggling over old coin prices is certainly acceptable. Most dealers will mark their coins up 100% or more so it is good to know what the coin is really worth. There are two pieces of info you need to know about old coin prices. You need to learn the wholesale price and you want to know the consumer old coin prices. Check the Blue Book and Red Book values, respectively, for this info.
Once you are armed with this knowledge then you are ready to get the best possible old coin prices. The key is to offer above the wholesale value but bellow the commercial value. This way you get a good deal and the dealer will sell.
This is true when buying coins at trade shows or auctions too. Knowing how much that coin is worth to a dealer and a consumer will ensure that you get a great deal every time. You will notice that many collectors don't know enough about old coin prices and so you will be in a position to get some great deals.
Making Money On Your Coin
Similarly a little knowledge goes a long way when selling your coin. By knowing the various old coin prices for your coin you will be able to sell it at a price that buyers can resist while still making a tidy profit.
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You can find plenty of information about coin collecting online. For additional information checkout this website on old coin prices.
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