Golden Rule Coins: Frequently Asked Questions

What are my coins worth?
From a distance, its hard to say. Value is determined by the economic factors of Supply & Demand. How many of a certain type of coin were made? How many have survived? How many people care? On top of that, condition plays a great role in determining a coin’s value. Being older doesn’t necessarily mean a coin is more valuable. I have a coin from 100 A.D. in my collection that’s worth only $10. Another coin minted in 2005 is currently worth several hundred dollars. Depending upon what you have, there are different approaches to determining value. Contact me and I’ll help you out.

Will my coins go up in value? – What coins are good investments?
Sorry, I don’t have a crystal ball. I have no idea which coins will be worth more down the road any more than I can tell you with certainty which stocks will be worth more. I generally advise people to not invest in coins. They don’t pay interest. They don’t pay dividends. You have to make-up a 20-25% buy/sell spread before you’re even in the black. While some coins have proven to be tremendous investments, many more coins barely move in value at all (Some go down!). My advice is to collect coins if you like them for their beauty or history. If they appreciate, it’s a bonus.

How can I clean my coins?
In a word—Don’t. Cleaning can destroy the natural patina that collectors prefer. I have seen valuable coins that have lost half of their value because they were cleaned. Rubbing imparts light scratches onto coins. Cleaning with polish or dipping in a chemical can subdue a coin’s natural luster and lower its value. If the coins are dirty, and you just can’t resist the urge, you might use a little mild liquid dish soap and water. Gently use your fingers to remove the crud, rinse well, and pat (don’t rub) dry.

Is old currency worth anything?
Like coins, most of it is ordinary and worth just face value or slightly more. The most commonly seen silver certificates and notes with red seals on them fall into that category. On the other hand, some other notes are quite valuable. If you have notes from 1928 and earlier, including large size notes, contact me and I’ll help you to determine the value.

How do I sell my collection?
Well, the best way to sell depends upon the nature of the collection. There are really too many options to consider in this small space. My best advice is to find a trustworthy dealer to advise you. That can be tricky. Don’t just pick-up the Yellow Pages. Ask for a referral from someone that you know is an active collector. If such a referral is not available, then get two or three offers before selling. In that case, I have two caveats: (1) Don’t let the coins out of your possession (2) Don’t be cherry-picked. That is don’t let them buy only the better coins, leaving you with the rest. Most dealers will require you to bring your coins to them. Some, like Golden Rule Coins, make house calls.

Can I buy coins from you?
Most coins that I purchase go directly to long-time customers of mine. I maintain very little inventory. If you’re looking for something specific, let me know and I may be able to find it or help you to find it.