old coin – Old Coin Prices – Understanding the Difference Between "Value" and "Price"

Monday, January 25th, 2010 at 9:15 am

In most situations, people use the terms value and price somewhat interchangeably. While the meaning of the words is similar, when you are looking to get accurate old coin prices, you should understand that in many instances, "value" and "price" are not the same. The price of your coin is generally considered to be whatever you paid to obtain the coin. In this instance, price equals your purchase price. The value of your coin, by contrast, is considered to be what you would receive if you sold the coin today. Because coin dealerships are in the market to make money, the price you will receive if you sell is often considerably less than the price you paid to buy. Therefore, the value of your coin collection may be less than the old coin prices paid to amass the collection.

The exception to this rule can be found in bullion coinage. Because bullion is more closely tied to the value of the precious metal, versus the value of the coin for aesthetics, rarity, or other issues, the value of your bullion coins will fluctuate along with the pricing of the precious metal comprising the coinage. For example, as gold prices rise, the value of your gold bullion coins will also rise - typically anywhere from 85% to 95% of the retail price the coin would sell for currently. The downside to this is that when gold prices fall, the value of your bullion will fall as well.

It's important to be realistic when you are gauging price versus value. On the one hand, it can feel like a major coup when you pick up coins for less than the retail price from a dealer or elsewhere. But you must be certain that the coin's value makes the price worthwhile. Buying a coin that has been graded by a reputable coin grading company, for example, will have more value in the long run than purchasing from unofficial sources.

The difference between value and price in the numismatics world is a significant one, and it is in your benefit to research the accurate pricing and valuation of coinage in your collection before you attempt to buy or sell. Understanding the difference between what dealers will pay, versus what they'll expect you to pay when you buy can help you to make wise choices that will increase the value of your collection, while minimizing the costs to you.

Learn the sought-after techniques of avid coin collectors - it's simple when you have the right information at your disposal. Theo Steward has put together an excellent compilation of information on coin collecting for both experienced and novice collectors alike. Learn how to tell the real worth of coins in your collection, and how to accurately determine old coin prices. Subscribe to the free coin collector mini course and discover the secrets that the professional coin collectors use to amass their own collections.

In God We Trust Controversy On Dollar Coins Resolved

In 2007, the United States Mint premiered a new series of dollar coins featuring the former presidents. The golden colored dollar coins would include altering designs with four new releases each year. The series was intended to begin a revitalization of United States coinage design which would return it to its position of aesthetic beauty. Instead, the public focused on the apparent omission of the motto "In God We Trust." After much controversy, next year the issue will finally be put to rest.

The controversy about the Presidential Dollars was a result of the special incused edge lettering used on the coins. In order to provide a larger area for a more dramatic design, certain elements which were traditionally placed on the surfaces of coin were moved to the edges. This included the date, the mint mark, and the two standard mottoes which appear on all circulating US coinage "In God We Trust" and "E Pluribus Unum."

Translated from Latin, the motto "E Pluribus Unum" means "Out of Many, One." This refers to the fact that many states combined to form a single nation. This motto first appear on United States coinage in 1795 and became a mandatory inscription in 1873. The motto "In God We Trust" first appeared on US coinage in 1864. Since 1938, all US coins have included the inscription. It has been the official motto of the United States since 1956.

Shortly after the release of the Presidential Dollar series, there was public controversy about the apparent omission of the "In God We Trust" motto. Some widely circulated chain emails and articles stated that the motto had been removed as an attempt to "phase God out of America." The same emails called for a boycott of the new coins. While the claim was completely untrue, at first glance, many people did not detect the motto and rallied behind the cause.

Others who had knowledge of the motto's appearance on the edge of the coin, felt that the motto had been demoted. Adding to the controversy, a number of error coins were produced without edge lettering. This occurred when a certain number of coins did not reach the second step of the two step minting process which applied the edge lettering. Even though by all accounts the error was inadvertent, many claimed that the US Mint had intentionally created "Godless" dollar coins.
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Possibly in response to such concerns, on December 26, 2007, President Bush signed into law H.R. 2764, which required that the motto "In God We Trust" be moved to the obverse or reverse of Presidential Dollars as soon as practicable. Since it was too late to make any changes to the 2008 Presidential Dollar releases, the US Mint stated that they would comply with the new law starting in 2009.

In February 2009, the first Presidential Dollar with the motto on the front of the coin was issued. This coin honored President William Henry Harrison. At long last the controversy was hopefully settled.

By: Michael Zielinski

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Michael Zielinski is an internet entrepreneur and coin collector. Find more information on Presidential Dollars including coin images, mintages, and coin specifications. Which of the new dollar coins is the rarest? Check the complete Presidential Dollar mintages.