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Collecting Rare Coins from Around the World

Collecting Rare Coins from Around the World

William Youngerman is a rare gold coin dealer in Boca Raton, Florida that just may have the rare Israeli or Cuban coin you have been hunting down for decades. Coins available in this Boca Raton rare coin shop are from all over the world and many different centuries. Commonly in stock, are rare coins from Hungary, coins from Belgium, gold US coins, and so much more. Gold and silver coins can be purchased from our online shop, or you can set up an appointment to see them in person. We always encourage you to complete extensive research on the value of the rare coins you are considering buying or selling. Understanding the value, as well any backstory of the coins you invest in brings more joy to the hobby of collecting them.

A Brief History of Money

During the early history of man, bartering was used to buy goods that were needed. From livestock to clothing, almost everything functioned as money. The first known currency was created in 600BC and featured a lion roaring. As money has evolved to bank notes, dollar bills, credit cards, and now even bitcoin cryptocurrency, the metal coin has yet to disappear. Metal coins will probably never totally lose value because of the fact that the substances they are made of have value in themselves. Additionally, as fewer coins are made, the rarest coins become highly valuable to collectors.

How Dealers Grade Coins

Grading a rare coin can be subjective. The best way to avoid a difference in grade when buying or selling a rare coin is by working with only the most selective dealers. However, remember that the grade is only one factor in determining the price of a coin. One rare gold Cuban coin may look very different from another coin but will have the same grade. Study grading materials by the Professional Coin Grading Service and Numismatic Guaranty Corporation to educate yourself on the process. Educating yourself will prevent someone from taking advantage of you when buying or selling coins from your collection. Luckily, collectors and admirers of rare coins have been working to unify grading systems and third-party grading services are now more secure than ever.

Factors in Appraising a Rare Coin

  • First and foremost, contact American Rarities Rare Coin Company and have a qualified numismatic expert evaluate your rare coins and give you a no-obligation offer on your coin collection.
  • Inventory your coins and list the rare coins of importance individually. Grouping certain coin types together are okay, because many collectible coins tend to have similar values. You can always break down the groups further if necessary.
  • As a general rule, silver and gold coins are almost always worth more than their face value. However, their value also fluctuates a lot based on the current value of gold and silver. Mint mistakes like mis-struck or double struck coins raise a coin’s value, and designer’s initials and certain mint marks often increase the coin’s value.
  • Any reputable coin dealer should have credentials from the American Numismatic Association (ANA) and the Better Business Bureau (BBB). Work with these dealers.
  • Study coins similar to your own that are for sale in rare coin magazines, rare coin shops, and rare coin auctions.
  • Look for rare coin books covering the coin types your have. A good book to start with is the “Red Book”, A Guide Book Of United State Coins. This book provides generalized information on most US coins and gives an indication as to rarity.
  • Online resources can be very useful. Many reliable resources provide a Rare Coin Retail Price Guide. Keep in mind that prices paid by coin collectors are always below these “List Prices,” meaning that the real “liquid value” of your rare coins will be less.
  • The rare coin grading system can be rather arbitrary, but understanding it can be immensely valuable. Coin grades run from Poor-1 to Mint State- or Proof-70, but many factors contribute to a coin’s grade. Luster, strike, contact marks, and overall eye appeal is the most important elements.
  • Remember that rare coin prices are determined by scarcity, demand, and condition. Another factor is the current prevailing numismatic market conditions.
  • Get your Coins Appraised by a Rare Coin Dealer, such as William Youngerman. Some coin dealers charge for an appraisal, so ask first if the dealer thinks it’s worth it.

No matter if you are a Boca Raton local that inherited a robust coin collection from a family member, or you have been traveling the world building your own collection, knowing what you have is key. Conduct extensive research on every coin prior to buying or selling it and work with experienced and qualified gold coin dealers like William Youngerman. If you are on the lookout for a place to sell rare cuban coins or you want to buy another exciting rare Spanish coin, give Mr. Youngerman a call today (800)327-5010!

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