Frequently Asked Questions
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The following table lists answers to common questions many beginners have on the topic of coin collecting. One of the best resources for answering questions is your local coin club, but if you don't have access to one (or even if you do) another option is to review the discussions and post your questions on the usenet newsgroup: rec.collecting.coins. You'll need a newsreader for this, and your ISP should have given you access to a news server.

Have a question that's not addressed below? Email me and I'll do my best to directly answer you, plus I'll add it to the list for the next person who may need it.

Table of Contents

  1. Why is it important to have a state level organization like the NASC?
  2. How does the NASC function?
  3. How do I get involved with the NASC as a volunteer?
  4. Can I attend NASC Board Meetings to see how it all works?
  5. I have a coin—how much is it worth?
  6. I have a coin—can you help me sell it?

Why is it important to have a state level organization like the NASC?

At the state level we have access to resources most local coin clubs don't have, such as a visual education library, experts in organizing show and educational activities, and a membership base that contains people involved in every aspect of the hobby. Plus, we act as a central collection point for publishing numerous member articles and distributing information of interest for the region. Our financial resources also allow us to undertake projects broader in scope than most clubs could easily handle.

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How does the NASC function?

In accordance with bylaws, rules and regulations. You can see from the officers list that we have many experienced volunteers, each of whom is involved with their own member clubs, in some cases many clubs. As such we represent the interests of a wide variety of people, with different backgrounds and preferences. The governing board meets several times per year (and those meetings are open to the membership), and there are various other committees, functions, and activities sprinkled here and there on the calendar.

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How do I get involved with the NASC as a volunteer?

Goodness, we thought you'd never ask! It's pretty simple...just attend one of the meetings, make contact by correspondence or email, or ask at your own local coin club (hopefully you already belong to one)—there's often an NASC Representative at your club that can help you get involved.

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Can I attend NASC Board Meetings to see how it all works?

Everyone is welcome to attend the NASC Board Meetings. General business is carried on in the open, and the diversity of topics will make for an enjoyable morning or afternoon. Most meetings last two or three hours at most. Contact us by email or check the Calendar page if you're interested in attending the next meeting.

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I have a coin—how much is it worth?

Tough question without seeing the coin. The value of a coin is dependent on two primary factors: 1) demand versus scarcity, and 2) condition. Most coins people come across are not very scarce, so condition plays a very important role. Most beginners (and quite a few experienced collectors) tend to over grade their coins; this is a natural optimistic tendency, and one that can be overcome with discipline and experience. One website that has a price list for US coins is CoinClub. Remember, this listing (or any other) is simply a guide to value. If you're a seller and looking for a buyer, you can probably expect to get a bit less than this. For lower priced coins (say under $100), the discount is pretty stiff (maybe as much as 50%); for higher priced coins you might only give up 10% or so. It all depends on the coin, how badly the person you're talking to wants it, and your negotiating skills.

Local coin clubs and coin stores are also an excellent source of information on coin values. The club members will be flattered that you're consulting them, and are likely to be more impartial in their estimations, even if they may not have the pricing experience of dealers.

Another excellent way to get a good idea of the true price you coin should bring upon sale is to search eBay for the same coin in similar condition. If you can find it there, look at the closed auction results to see what people are really willing to pay for that piece. Be careful to pay close attention to the condition, and any varieties or mint marks that may be different from the coin you have. Just a minor difference can give you the wrong information.

Here's a few books your local library may have that will also help to determine coin values:

bulletA Guide Book of United States Coins—R.S. Yeoman. Known as "the Red Book", this is an annual publication that's considered a hobby standard for US coins. They have retail pricing, but because of the logistics of print publishing they're often quite a bit out of date (a year or so).
bulletStandard Catalog of World Coins—C.L. Krause and C. Mishler. Just as the Red Book is the standard for US coins, this publication (it looks like a thick telephone book) is the standard for world coins. It has an identification guide to help you attribute your coin, as well as approximate retail values. Since this is not published annually, the prices are generally out of date; though world coin prices are nowhere near as volatile as US coin prices.
bulletThe Cherrypicker's Guide to Rare Die Varieties—B. Fivaz and J.T. Stanton. This book specializes in a very narrowly-collected area: die varieties. The book covers general values for coins struck from doubled dies, repunched mint marks, and other unusual die conditions that some people highly prize.
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I have a coin—can you help me sell it?

The NASC doesn't deal in coins, but there's many options out there for someone who wants to sell. You should remember that there's generally a trade-off between the ease of sale and the amount you can expect to receive. Here's three options that are popular with a lot of folks:

bulletAuction—As a seller, you'll generally do best by putting the coin up for auction on eBay or some other popular auction site. If you get a good scan or digital photo of the coin, put it up with no reserve and a low starting bid (like 99 cents), you can pretty much count on getting good action...and that equals the most efficient market you can hope for. The drawbacks are: you have to get a digital picture; you have to take someone's check; need I say it...POSTOFFICE LINES, and other shipping headaches. Then there's the pain of someone deciding they really didn't want it, or they never send you a check, or...I could go on and on, but you get the idea. You end up suffering a little more in exchange for what is only possibly the best price.
bulletDealer—most dealers will make an offer on your coin, but if they aren't actively seeking that particular one, the offer will likely be very low. Of course, this is the most painless way to sell it; you just walk in with the coin and out with the cash. Some dealers will run auctions (these are good for dealers known for a specific specialty, like certain tokens or coin varieties) or take your coin on consignment. Some dealers run a "Bid Board", a kind of auction where people write their bids on a paper attached to the coin (which is usually hung on the wall along with hundreds of other coins). The bid board ends at a specific time, and the highest recorded bid gets the coin. Not as immediate as an outright sale, but usually a better price than what the dealer would have given you.
bulletPrivate Collector—like selling to a dealer, this approach can have rather spotty success. If the collector especially wants the specific coin you have, you may do rather well, but since there's little competition (after all, you're only face to face with the one person) you're not likely to get top dollar. Of course, if what you have is a very narrowly collected specialty (like Canadian bank tokens of the 1830's), this may be a preferable approach. Places to find private collectors include: local coin clubs, newspaper ads (some of them place "buy" ads in the local classifieds), and referral by others in the hobby.
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Contacting us...
e-mail:         vicekid2@earthlink.net
snail-mail:   Harold Katzman
                    NASC
                    P.O. Box 3382
                   
Tustin, CA 92781

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