00:00 - Intro 00:12 - Do you buy silver ? 00:57 - What are the…
5. Why isn’t my coin rare? According to Mr President
At least once a day I get this phone call or online inquiry. I’ve got a i.e. Wheat Penny, Steel Penny, Buffalo Nickel, or the “V” Nickel. We do not purchase any of these coins, there are not precious metals and there are very few exceptions.
First off this is for information purposes, we are here to help you the customer be informed. Thanks to eBay, or some online auction consumers see listing for regular coins at bloated asking prices. Nothing is wrong with asking whatever price you want if someone is willing to pay it but that doesn’t make the coin rare or accurately priced.
This is how the conversation goes ” I saw my coin listed online for (blank price) ” , we then quote a price for said coin. “Sir/Ma’am that’s nowhere near the price I saw for the coin online”.
A couple of things go into why YOUR coin may not be that coin or a rare coin.
- Is your coin graded ? NGC or PCGS are the top grading companies
- Does your coin have the same mintmark or from the same mint ?
- Has your coin been treated of cleaned? Never clean or polish coins
- Is the coin authentic ? Check the weight or if the coin is magnetic
- What is the coin condition ? Heavily circulated coins devalue most coins drastically
For coins to be rare or high value a number of things must align and check out. The most important thing of all still is “You can only get what the market is willing to pay”.