Research Page for actually finding the rough value of a coin
The intention of this page is guiding you to research the value of your coin (or coins).
It’s worth getting multiple opinions, to give you a more thorough idea of the value. So I’ve included 3 different places to check for coin values:
1. The Renniks Annual Guide for coin values
2. Online sales of coins
3. Facebook Groups – ask for help from other collectors
But first, I’m assuming that you know the name or description of your coin. If not, try checking in this book – the Renniks Guide to coin values:
This book is also the first place to check for the current market value of your coin. This book focuses on coins in uncirculated condition, but it will give you a good idea of coin values. There is a chance that the value may have changed since the book was published. They update the book every year, so the link above will give you the latest version of the book with the most up-to-date prices for uncirculated versions of coins.
2. Online Prices:
The next step is to check online prices for your coin. These prices will be more up to date.
Now, it’s important to note that what you’re looking for is coins that have been SOLD, and the price that they sold for.
There may be coins that have high prices, and it’s tempting to see this as a sign that the coin is valuable, but ignore these if they haven’t sold. People often ask crazy prices for a coin (or any collectible), but they often don’t sell at that high price.
All you want to know what people are actually prepared to pay for the coin, and this means you’re looking for confirmed sales.
There are various online auction sites, but eBay makes it really easy to check the price that coins sold for. We’ll use the Australian site (eBay.com.au), as it’s more likely to have people buying Australian coins.
Go to eBay, and type your coin description into the search box, for example:
“2015 remembrance 2 dollar coin”
“2012 year of the dragon coin”
“2016 green Olympic 2 dollar coin”
“2016 5 cent coin”
(Don’t get too specific when typing your search term – you want to see as many listings as possible).
Then turn on “completed listings” – this will show the coins which have sold.
– If you’re using the eBay app on your phone, choose “Filters” at the top of the search results and turn on “Completed Items”:
– If you’re using the eBay website, there should be a tickbox on the left side of the screen where you can tick on “Completed Listings”:
Items that have successfully sold will have their price in green. If there is a coin like yours that has sold, that price is probably a reasonable price for your coin. However, it’s best to check for multiple results – occasionally, people find a way to game the system and make it look like a very common coin sold for a crazy price. If you don’t have a lot of info about your coins, make sure to get multiple sources of sales.
Another important thing to remember is that even a common coin in uncirculated condition will possibly sell for more than face value. If your coin is very circulated, make sure to compare your coin to other coins in similar condition.
3. Facebook Groups:
The third place to get information is a Facebook coins group. These groups contain other collectors who have experience with coin values. Now the challenge here is that you’ll need a good photo of your coin.
It’s also VERY important to remember that if asking for help, approach it in the right way:
1. Follow the rules of the group,
2. Upload a clear photo of your coin
3. Be very polite when asking for help – Here’s an easy script which should get you good results:
“Hello – could you please help me to find the value of this coin? Thank you for any help that you can give me.”
You’ll find that people are happy to help you, and may offer other places to find information on your coin.
I recommend a group called the Gravy Train – this group has experts on Australian and overseas coins, notes and medals. In addition, they can help with both current coins and historical coins. Here is a link to the Gravy Train’s Facebook site.
If you can’t find an answer from these methods, you may need to contact a coin dealer. Go to Step 4 in your copy of the coins guide for these details.