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Editor's Notes

• #2: What is often heard on the bourse, on line forums, conversation. Seems like a simple question People don¡¯t want to overpay, or under value when selling. Started to research how the a value / price is placed on a coin. Expected an easy answer But why is the price important ?
• #3: This is the typical cycle of any numismatic item. The financial transaction an exchange of perceived equal value occurs between the relinquish and acquire phase. In between this transaction we show, study, share, present our ¡®treasures¡¯
• #4: Originally I looked at five components that might effect price, but initial research eliminated historical significance as a price component I found little correlation between the significance of the coin and the price. Some very significant coins sell for stunningly low prices These four all seem to have a profound affect at certain points Take a look at each one.
• #6: Example I brought 3 coins with $1 face value, 1998 coin with a of 4.8M, a 2002 coin with a 3.8M and a 1980 with a mintage of 27M. Interestingly in MS65+ these coins all sell for about $25 to $30. But as the you move into circulated grades the 2002, and 1980 coin assume face value, only the 1998 Silver Eagle retains a higher, silver content based value.
• #7: Grade rules are not uniformly applied because they are subjective And the rules change with the grade! Circulated coins are graded on wear, technical and market are equal Un-circulated grading includes: luster, surface condition, eye appeal, Strike These are all individualized
• #8: If I tell you this coin is a rarity R1? What does that mean? Ranges from known extent population of 1 to 1250 Adams & Woodin Sheldon Judd Bowers Reynolds Heikkila Fibonacci Starts with how many were minted, but the surviving number is the critical piece of information. This number varies Scarcity and rarity are different, just because it is the only one Absolute Condition Perceived Can change in both directions As an example I brought two 1939 nickels, modern enough that mintage figures determine rarity. 1939 mintage 120M 1939D mintage 3.5M So the 1939D in VF ¨C EF is about $10 to $20 street price The much nicer near MS 1939 street price $2.
• #9: I am not a trained economist and this is not an economics class, but I conclude that this is the most powerful of all factors in determining a the price of a coin. The intersection of the demand and supply curves, shown as lines for simplicity is the optimal price point. The US Mint claimed at one point that around 100M people were collecting state quarters. This demands explains why a state quarter can sell for many multiples of face value, and marginally circulates when hundreds of millions are available. Really the entire mintage for any state quarter is still available. Similar year nickels, dimes and cents have not experienced similar pricing As an example of the power of demand, lets look at coins A and B
• #12: Originally I looked at five components that might effect price, but initial research eliminated historical significance as a price component I found little correlation between the significance of the coin and the price. Some very significant coins sell for stunningly low prices These four all seem to have a profound affect at certain points Take a look at each one.