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For knowing coin prices, there are a large number of price guides available. They may be published once a week, twice a week, every month, or may be an annual publication. You can get them in various forms, including magazines, "hot sheets", newsprint, and books. A collector of coins may have referred to any one of these guides at least once in his or her lifetime. But, do you really understand these guides? Can you get more than just the price and value from them?
In order to understand price guides of coins, you need to know two things:
A Professional Grading Company must grade your coins. Such a body designates the grade as well as the identity given to the coin. Without this, you're simply assuming the grade of your coins. You could be wrong. You could be right. And this can be detrimental for determining coin prices and value. There are two reasons for this:
Some of you might think it to be a trivial matter to differ in results. Dig this: just One Grade level or point can create a difference of hundreds or thousands of dollars in your coin's value!
The problem with price guides is that they assume you are already aware of your coin's grade. Hence, the thumb rule of numismatics is: know the grade of your coins.
Next, the foundation of price guides lies on the same principle - that the coins are graded through one grading standard. These standards are established by American Numismatic Association (ANA) and are rendered Official Grading Standards for American coins.
Hence, all price guides assume to their very core that the grade you determine is accurate. It also assumes that this grade is based on standards fixed by ANA. Therefore, when you use such guides for checking out coin prices, you must remember these things.
Now you realize why such emphasis is laid on grading your coins through the ANA before determining coin prices. You must never assume grades on your own. The only four renowned companies that are into professional grading of coins are PCGS, ICG, NCG, and ANACS. Only these four follow the ANA guidelines strictly.
There are many people who may have the skill for grading coins. They may prefer to grade their coins on their own, rather than contact a professional body. However, even their grading may have doubts. That is the reason why companies take the opinion of three professional graders before they come to a conclusion about the final grade of coins.
So, if you're serious about American coin prices and your collection of coins, you must grade your coins by any one of the top four companies. This is the sole way of removing all doubts and disagreements about the grade of coins. It is also the only way of knowing the right coin prices.
The global economic setback did one good thing. It turned the attention of investors to coin prices. Suddenly, the precious metals became more precious and everyone wanted to own a few coins. Inflation, too, is the culprit behind the climbing gold and silver price. Inflation created a mass phobia in people for investing in stocks and bonds. At this time, gold and silver acted as the Pied Piper and drew a major chunk of investors towards them.
Silver coins have been manufactured in America since 1793. You can find interesting names like Capped Bust, Flowing Hair, Morgan, Silver Eagle, Sitting Liberty, Trade, Eisenhower, and Peace silver coins. They are minted at New Orleans, Philadelphia, San Francisco, Carson City, West Point, and Denver.
The most popular coins in America are:
These coins are relatively less costly. This explains their huge demand. Rare coins in good condition can demand a substantial amount of money. In the last four decades, the coin prices of Peace and Morgan has shown a consistent upward curve in the price graph.
May 2009 was the peak when it came to dollar coin prices. If you missed it, don't worry. The beginning of 2010, that is now, has good news for you. According to analysts, you can anticipate gold and silver price to be the eye candy. Some analysts are of the view that in the long duration, silver will outshine gold in the market. This is predicted to happen next year, in 2011, or in 2012. Thus, you can expect more shift in coin prices.
For a long period, the availability ratio of silver to gold had been 12:1. This ratio means that for every 12 ounces of silver present on the earth, just 1 ounce of gold could be found. At present, this ratio is 8:1. This means that for every 8 ounces of silver on the earth, you can get 1 ounce of gold. Do you know what it actually means? Well, it shows that silver, which was regarded a less precious metal, is getting scarce!
Today, the ratio of price of gold and silver is 50:1. It has drastically narrowed down. Analysts believe this narrowing will continue. Therefore, it is a smart option to invest in silver coins now. This is relatively an inexpensive investment and has greater liquidity than that of gold. Also, you can exchange it for staples in times of crisis.
Even if you wish to be pessimistic with regard to coin prices, there is some more good news. In case the price of silver does not meet the expectations or does not beat gold, the value of silver coins will still climb due to its numismatic worth.
Every dark cloud has a silver lining. How true!