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Buying coins at auctions without understanding its real value are can be a mistake. Coins can be modern or classic where the US World War II coins, Peace dollars, Standing Liberty quarters or medieval coins are rare and are highly valued. Experts in coin collection can earn significantly from the sale of finest coins. Auctions of US coins held in June midweek in California earned $18.1 million from auctions where the 19the century specimen (1804 dollar) –the sample of King of American coin was sold for $2.64 million.
The billionaire coin collectors – Dell Loy Hansen of Utah spent $2.64 million to get the 1804 specimen. The 1804 dollars are believed to be one of the eight coins which are professionally graded-62. These are silvers coins sold at Heritage auctions for greater than $3 million dollars. Hansen has more than 10,000 such rare coins.
Coin collectors should be aware of the drawbacks of poor handling of coins – cleaning it with baking soda or acid can degrade its value. Coins should be stored as a treasure and handled carefully. The collection of the earliest 650 BC named the Tyrants of Tigris and Euphrates are some of the earliest coins, and metallurgical advancement led to creation of gold and silver coin which are mentioned in the Old Testament. A 1793, China cent was sold for $990,000 and the finest certified 1909 Indian Half eagle was sold for $168,000 at an auction.
Collectors seek the hammered gold –silver coin of era from Edward III to Charles II. Coin collectors grab coins depicting historical figures such as Hitler and England’s Henry VIII. Some get the ancient coins which have notations of ex Sir Arthur Evans, and some of these coins are introduced in the market with the name Sunrise collection or the Prospero collection.
Modern coin collector need to know a lot more about global coins and do research to identify the real coins. Some of the coins in markets can be worth 13,000 pounds e.g. The Lancaster bomber 50 pounds is made up of 22 carat gold and only nineteen of the coins were released as the part of Defence of the Skies collection. The price of modern gold coin can increase, or decrease depending upon the change in gold price.
Experts believe such collections should be sold, if one gets a buyer. The rare 50p coin has been auctioned for 500 pounds on online websites, and it’s getting more than 800 pounds from the buyers (as per the reports by Mirror Online).
Many buy coins from the secondary market and these coins are auctioned for millions. The Kiangnan coin by the Numismatic Guaranty Corporation was auctioned in the range of $25,000 to $300,000 where the bid went up to $312,000. In the non-Chinese coins, the Korean Kuang Mu is one of the most expensive that was sold for $24,000.
Coin collectors need to know online auctions can be ambiguous like the ones sold as a tribute to Princes Diana to collectors for $20 to $45 are difficult to sell.
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