Understanding Coin Price Guides

Price Guides are nice instruments that give us with a lot of wanted data. The Price or Value of any coin being traded, or in a prized assortment is critically necessary. Knowing the True and Accurate Grade of Your Coin, and understanding that the ANA Price Guidelines are the Foundation of All Price Guides will make it easier to gather higher coins.
There are many coin price guides printed; weekly,Guest Posting bi-weekly, month-to-month, and yearly. They come in the type of magazines, newsprint, “hot sheets”, and books. All of us have referred to one of those every so often to establish what a specific coin is likely to be price. Yet, few of us cease to consider what we’re getting from any one of those Price Guides, past the price or value of a coin. After all, don’t price guides, simply provide the price? What else is there?
Basic to an understanding of price guides are two issues: 1) the Grade of the Coin; and a pair of) the Foundation of the price information. Knowing the Grade of the Coin is required earlier than one can start. Saying so appears to be apparent, however, what extra does it imply?
Unless the coin is Graded by an applicable Professional Grading Company, which has designated what Grade and Identity has been assigned to the coin, most of us are making an assumption in regards to the precise Grade. This assumption we make may be very harmful due to: a) the problem in grading a coin; and, b) the completely different potential outcomes or outcomes that happen. One Grade “point” or degree could make the distinction in a whole lot or hundreds of {dollars} within the Value of a Coin.This is why we’ve got the First Rule of Coin Collecting: Know the Grade of Your Coin.
Secondly, ALL Price Guides are based on the identical Principle, which is that the Coin, whose price you’re looking up, has been Graded utilizing one Grading Standard. That Grading Standard is ready by the ANA – American Numismatic Association – and is entitled the Official Grading Standards For US Coins.
Therefore, ALL Price Guides have a “silent assumption” inbuilt to their information; which is that the Grade that YOU determine upon, is True or Accurate and that such Grade relies on the ANA Standards.
The first issue that arises is that most individuals by no means know if the Grade that they’ve determined upon is Accurate. Of course, this issue by no means comes into query, if the coin is Professionally Graded by an applicable firm. There are solely 4 (4) respected Professional Grading corporations that strictly comply with the guidelines set by the ANA, and they’re PCGS, NCG, ICG, and ANACS.
The second issue that arises due to this “silent assumption” or Foundation of all price guides is whether or not or not the Grade has been determined upon utilizing the Guidelines or Standards established by the ANA. If you don’t have the abilities and coaching of a professional coin grader, the choice might be questionable.
Even in the event, you do have the abilities and coaching of a professional coin grader, the choice remains to be most likely questionable. Why? Because even professional coin graders have differing opinions. This is why the respected professional coin grading corporations require the opinions of three (3) professional coin graders to reach on the “Grade” designation to be positioned on each coin.
The apparent conclusion is {that a} Serious Coin Collector goes to spend money on uncommon and trendy coins which can be graded by one of the Top Four respected Grading corporations. It is the one sure approach to eradicate the disagreements and arguments in regards to the Grade of Any coin being Bought or Sold! It is the one sure approach one can Value their coin assortment. It additionally eliminates “getting taken” or cheated shopping for uncooked coins.