Need help discovering value of coins...

I recently discovered I have an 1836 and an 1838 penny and was wondering if anyone knew if they were of any value? Thanks for looking.

Nitnos

Nitnos,

It's hard to say without seeing the condition, however if they are in "good" condition they are worth +/- $5 if you sold them to a dealer. If you tried to buy them from a dealer you would pay more than that (just like selling or buying a car). If you can post or send me a photo of the coins I can give you a better idea of the value.

Nitnos,
I have an older Red Book from 1999. Just remember my book is 5 years old and coin prices can change like the wind. It just depends on the market for them and what is hot and what is not.
The prices in it are for the following conditions:
1836
Good $12
Very Good $13
Fine $22
Very Fine $50
Extra Fine $100
Uncirculated (MS-60)- $285

1838
G $11
VG $13
F $22
VF $40
EF $90
Uncirculated (MS-60)- $260

The following definitions are out of the Red Book I have:
Good- Heavily worn with design visible but faint in areas. Many details are flat.
Very Good- Well worn with main features clear and bold although rather flat.
Fine- Moderate to considerable even wear. Entire design is bold with overall pleasing appearance.
Very Fine- Shows moderate wear on high points of design. All major details are clear.
Extremely Fine- Design is lightly worn throughout, but all features are sharp and well defined. Traces of luster may show.
Uncirculated(MS-60)- Has no trace of wear but may show a number of contact marks, and surface may be spotted or lack some luster.

There are also About Good, Choice Very Fine, Choice Extremely Fine, About Uncirculated, Choice About Uncirculated, Choice Uncirculated, Perfect Uncirculated, Mint State, and Proof. But the ones I listed above are the only ones with a value in the book.

KartRacer31 can give you a much better idea of the condition I am sure after he has seen the pictures.

Hi guys,

The Red Book is a good guide for pricing coins. However it should be noted that the Red Book is what you will pay for coins (most likely form a dealer). On the other hand, the Blue Book (it's counterpart) is the guide for what you will get for selling coins (again most likely to a dealer). The difference between them is quite often 40-50%.

Unfortunatly, both books are really obsolute by the time they are printed. Coin prices change every day, and so the books are just a rough estimate. Even monthly magazines, such as CoinValues, which has coin buy prices, should still be used as an estimate.

I estimated the +/- $5 value of those coins based on the August 9th, 2004 issue of CoinValues magazine. CoinVlaues lists the buy price (which is the price you would pay if you bought the coin from a dealer), I choose a G-4 condition, which is the lowest condition they list, and basically coinsides with the definition LifeNRA posted above. Then I took 60% off of that, leaving you with a 40% sell price. Which is usually what you would get if you walked into a coin dealer off the streat and knew nothing about coins.

Again, it's just like trading in your car at a dealer, you get less from the dealer than you would from a private collector. The problem for most people would be finding a private collector who wants your exact coin. For most people going to a coin dealer is much easier, and worth the difference in price.

Nitnos, I hope this helps, and if you want to sell the coins let me know, I'll ask a few coin enthusists I know if they want them, that way you'll wind up getting a little more then if you sell them to a dealer.

KartRacer31,
A very good and informative post /ubbthreads/images/graemlins/thumbsup.gif. I have not collected coins in a long time.

LifeNRA,

Thanks /ubbthreads/images/graemlins/smile.gif. Coin collecting is a little side hobby of mine, not as much fun as flashlights of course!

KartRacer - Thank you very much for the information. I received these coins after my grandfather had passed away. That being said, I think I'll hold on to them and hopefully hand them further down the family line, but thank you for offering you help. There is something about holding coins so old and I often find myself wondering of the stories they could tell. Also, I would post pictures, but as of now I do not have a digital camera, since I keep on buying flashlights...

LifeNRA - Thank you for the definitions. As stated before, the prices can change like the wind, but the definitions helped out a lot. Based on those criteria, I would have to say that the 1836 penny is "very good" and the 1838 penny would be "fine."

Again, thank you guys for all of your assistance. It is much appreciated. /ubbthreads/images/graemlins/bowdown.gif

Nitnos

Nitnos,

No problem, glad I could help. /ubbthreads/images/graemlins/smile.gif

Ditto /ubbthreads/images/graemlins/smile.gif