Orange County Rare Coin Appraisers: How Vasco Can Get You The Best Value For Collector’s Coins
Tom was planning to set up a small business in Los Angeles but was short of capital by $30,000.
A rare coin collector, Tom had been collecting coins, tokens, medals, and collectible flatware since childhood. His grandpa, who himself was the owner of a large rare coin collection, instilled this passion in him. Tom inherited his grandpa’s collection and was in possession of some of the most desired ancient gold, silver, copper, and bronze coins around, along with a few rare tokens, medals, and other collectibles with historical relevance.
After spending years assembling an impressive collection, Tom decided to sell his coins. However, with little experience in the market, Tom was confused. He went to multiple rare coin appraisers in LA but was disappointed with the low quotes he got. On the other hand, the online market was flooded with rare coins and the commissions were exorbitant.
Tom learned about Vasco from one of his friends who had earlier approached us for a luxury watch appraisal.
Going through Tom’s collection, we realized that he didn’t have to sell all his coins to source the required capital. A few coins and medals from the early 20th century would do the job. Tom was delighted to hear that as he was not ready to give up his entire collection yet.
Coin collection is one of those hobbies that will generate you an incredible amount of money over the years. What begins as fun during childhood becomes a substantial investment that you can turn to during times of emergency. Especially if you have coins with historical significance, like the 1913 Liberty Head Nickel, Hawaii Five-O Star or 1804 Bust Dollar Class I (Dexter-Pogue Specimen). If you are lucky like Tom, you may even get rare coins passed on to you.
Despite the value, they store, rare coins may not sell for the desired price if you are new to the market. Like all collectible markets, it has its own set of pitfalls. Your best bet is to understand how the market works and get your collection valued by a trustworthy rare coin appraiser.
This guide will help you with that.
How to Determine If You Have a Rare Coin to Sell
Do you have a collection of old coins gathering dust in a drawer or tucked away in a forgotten box? Before you dismiss them as insignificant, it’s crucial to consider that some of these coins might hold unexpected value. The world of numismatics, or coin collecting, is replete with rare and valuable coins that can fetch a hefty sum from eager collectors and enthusiasts. If you’re curious about whether you possess a rare coin to sell, here are some essential steps to help you determine its potential worth:
- Research: Start by educating yourself on numismatics. Numerous online resources, books, and forums can provide valuable insights into coin identification, grading, and rarity.
- Inspection: Carefully examine each coin for unique attributes or distinguishing features. Look for mint marks, errors, unusual dates, and variations in design that might indicate rarity.
- Grade Assessment: A coin’s condition, or grade, significantly impacts its value. Grading services and guides can assist you in determining the grade of your coins, ranging from poor to uncirculated.
- Rarity Evaluation: Research the coin’s mintage figures to understand its scarcity. Generally, coins with low mintage numbers are more likely to be rare and valuable.
- Seek Professional Appraisal: If you’re uncertain about a coin’s rarity, consider consulting a reputable coin dealer or professional numismatist. They have the expertise to identify rare coins and provide an accurate valuation.
- Preservation: Until you decide to sell, store your potentially rare coins in protective holders to prevent damage and maintain their condition.
What are the Key Challenges of Selling Rare Coins?
If you are having a hard time selling your rare coin collection for a fair price, worry not. You are not alone. Collectors either get rid of their coins at local pawnshops or hunt for collectors on online platforms only to settle for less than market prices.
That doesn’t have to be the case though.
Let’s take a look at some of the common challenges rare coin sellers face and the ways to tackle them.
1. Sellers Are Unaware of the True Value of Their Coins
Most of the time, collectors don’t know what their coins are worth. The lack of consensus on prices and the ups and downs in the market make it difficult to find relevant data.
One of the oldest collectible sectors, the rare coin market has been a superb inflation hedge and a great store of value since time immemorial. They are also highly liquid, thanks to the growing number of online collectible marketplaces and young collectors. Limited edition coins with extreme grades perform really well at auctions, reaping money because of the increased demand.
That said, an asset brings money only when the collector realizes its true potential regardless of what it sells for in the global market. The numismatic collectible market is fierce; people are vying to get their hands on rare coins for competent prices. The fact remains that your success as a collector is determined by the difference between the buying and selling prices. Online or offline, collectible marketplaces are not necessarily designed to help you get the best price for your assets.
2. Different Markets, Different Prices
As discussed above, there are many collectible markets online and offline today. The prices are determined by the demand and supply in each market. For example, cities like New York see excellent demand as well as supply. As the location becomes a seller’s market, collectors from neighboring places contribute to the supply, eventually bringing down the prices. That is the reason why many previous seller’s markets for collectibles are now saturated. And when it comes to markets with low demand, it would be absurd to wait for the price to go up.
Online marketplaces host collectors from across the globe. However, many are apprehensive about selling and buying online due to security concerns. Online coin appraisals factor in massive commissions that are capable of turning users away.
3. Wrong Appraisals
So how do you know the real value of your coin in the present market?
A professional rare coin appraiser will tell you that. However, the industry is so riddled with fake appraisers that inexperienced collectors are convinced to sell their collections for a fraction of their real worth. When looking for a rare coin appraiser, make sure they are a member of the American Numismatic Association (a nonprofit organization dedicated to educating people about rare coins and collectibles) or a similar organization in your country. These institutes serve up-to-date numismatic information to the academic community, collectors, and the general public.
Due to the rising number of appraisal-related frauds, the numismatic industry has attempted to standardize appraisals through the PCGS (Professional Coin Grading Service). The website lists rare coin appraisers, estimated prices, and auctions. Collectors can look up for appraisers from their area to get their coins valued. You can also get a rough estimate of your coin using the data provided on the website before consulting an expert.
What Factors Affect Rare Coin Appraisal Value?
Some of the key factors that determine the price of a rare coin are as follows.
- Like all assets, demand will drive the price of a collectible coin.
- The next factor is supply, or, in our case, mintage.
- When it comes to antique coin appraisal, circulation supply is a key factor.
- Coins with high intrinsic metal value can command a better price.
- Parameters like attractiveness, color, luster, strike, and state of the coin determine the grade of a coin, which in turn has an impact on the price.
- Coins that have historical significance are valued in the collectible market.
It is important to note that unwarranted activities like cleaning a coin can often reduce its value. Make sure you don’t clean or polish your coin before the appraisal. A numismatic expert will clean the coin on your behalf if required.
Vasco Pays You the Highest Price for your Rare Coins
Vasco Assets is a private international investment firm based in Newport Beach, CA with a global presence in multiple markets. We have a team of some of the best rare coin appraisers in the US. We leverage comprehensive databases and modern technology to give you an accurate coin appraisal. We offer online coin appraisal and sales through our Sure Securing Program, one of the safest ways to get your assets valued from the comfort of home.
For a free online coin appraisal, contact us at 949-679-2300 and book an appointment with our numismatic experts.