Some Considerations When Buying And Selling U.S. Coins
Posted on: 23 October 2015
Throughout history, U.S. coins have been made of gold, silver, copper and trace amounts of other metals. If you want to buy or sell U.S. coins, you must research what metals they contain, their current appraised value, and their rarity. It is also helpful to know how the U.S. Mint categorized the coins when they issued them.
Coin Sets Issued by the U.S. Mint
The U.S. Mint produces coins as currency, coins as collectors items, and coins for investment. Depending on condition and rarity, all U.S. coins are inherently valuable and some are collectible. U.S. coins are produced in the following sets:
- Proof Coins - These coins are produced to check the coin dies for archival purposes and come with a certificate of authenticity.
- Circulated Coins - These coins are produced as currency and have been circulated.
- Uncirculated Coins - These coins are produced as currency but have been held back from circulation.
- Commemorative Coins - These limited edition coins are produced as collectors items.
Buyers and Sellers of U.S. Coins
Many individuals and companies regularly buy and sell U.S. coins. Some have extensive collections of a wide variety of coins and some have more focused collections. Here are some of them:
- Bullion and Precious Metal Dealers - These dealers buy and sell circulated, uncirculated, and proof sets of U.S. coins.
- Coin Shops - These shops vary in what they have in stock for sale and what they will purchase.
- Private Collectors - These collectors have a wide variety of coins and some exhibit their collections in galleries.
- Coin Show Dealers - These dealers have U.S. coins of various conditions and values.
- Numismatists - These scholars collect many different kinds of U.S. coins and may sell them and buy others.
- Antique Stores - These stores buy and sell U.S. coins and might have coin collections that were acquired in estate sales.
- Pawn Shops - These shops may have valuable coins taken as collateral on loans and be interested in selling them.
- Garage Sales and Flea Markets - You might find valuable coins here, but you must thoroughly research them.
U.S. coins can be successfully bought and sold online and in person. To research U.S. coins online, check for professional coin grading service websites. These websites can tell you the metals contained in specific U.S. coins and verify their current appraised value. It is also best to know the current spot prices of precious metals on the commodities market. This changes daily and can influence the purchase and sale price of U.S. coins. With careful research and due diligence, you can be well prepared to recognize the value and rarity of U.S. coins. Click here for additional reading.
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