The short version: Bullion coins are priced on their metal. Collectible (numismatic) coins are priced on rarity and condition, and can be worth far more than their metal.
Two coins can contain the same metal and still be worth very different amounts. The difference is whether the market values them as bullion or as collectibles.
Bullion coins
Modern bullion coins are made in large numbers and bought for their metal. Their price follows the spot price plus a premium. Condition matters a little, but rarity does not.
Collectible (numismatic) coins
Older or scarce coins are valued by collectors for their date, mint mark, rarity, history and condition. Their price can be many times their melt value, and it depends on the collector market more than on spot.
What grading means
Independent services such as PCGS and NGC grade a coin's condition on a 70-point scale and seal it in a tamper-evident plastic holder. A grade from a respected service makes a coin easier to value and to sell. Grading costs money, so it is usually worth it only for coins where a high grade adds real value.
Why it matters when you sell
A collectible coin sold for its metal can mean leaving money on the table. Bring coins in as they are, uncleaned and in any holders, and we will tell you which ones should be priced as collectibles.
This guide is general information, not investment advice.
Questions about your pieces?
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