Finding the Value of Old Coins and Paper Money

What is Value?

Basically, there are four different types of "value" for coins and bills:

Book value is an average of many dealers' retail prices for a certain coin or bill - in other words, what the average dealer would sell it for. This price is called the "book" value because you would typically find it in a published book such as the Standard Catalog of World Coins.

Buy price is the price that a dealer would be willing to pay you if you sold him or her your coin or bill.

Retail value is the price for which a dealer would sell a coin or bill to you. So, if a dealer wants to stay in business, he or she usually offers lower buy prices than retail prices.

Wholesale value is the price for which a dealer would sell a coin to another dealer.  Wholesale value can also be a discounted price that a dealer would accept from a buyer who is purchasing in large quantities.

Factors That Effect Value

There are several factors that influence the value of a coin or bill:

Rarity involves the number (or "mintage") of coins or bills that were originally produced. Rarity also involves the number of those coins or bills that are still around today.

Demand varies according to the popularity and availability of a coin or bill:

Condition or grade:

If a coin is too damaged to have value as a collectible, its metal content (the amount of gold or silver in the coin) may have a "basal" value. According to Roderick Hughes' Official Know-It-All Guide, Coins, you can find out the value of the metal if you:

Finding Values for World Currency

Before you begin looking for the value of a coin or bill, you need to know:

Once you know the date, country, and issue of a coin or bill, you can look up the value.

If your foreign coin or bill is only worth its "face" value, use OANDA to convert its value to U.S. dollars.

United States coins and bills

Guide Book of United States Coins (also known as the "Red Book"), is considered the standard reference for U.S. coin values.

Here are some other sources of information about U.S. currency:


The Pratt Library cannot appraise coins or bills. Hire a professional appraisers to grade your coins and tell you how much it is worth. The American Society of Appraisers and International Society of Appraisers have searchable directories of professional appraisers.

A dealer might also be able to helpThe American Numismatic Association's list offers a list of dealerships by state. You might also want to try the Professional Numismatists Guild's Dealer Directory, or the Professional Currency Dealer Association.

If you want someone to appraise your paper money, the Society of Paper Money Collectors recommends that you visit a professional currency dealer.

How to learn more about coins and bills


Join a Collectors Club

Before you buy

Visit your local library and read as much about the hobby as you can. There are a lot of scams out there! The Federal Trade Commission offers a helpful article, "Investing in Rare Coins." The American Numismatic Association has a page of Consumer Awareness Resources.

Also, check the reputation of the dealer you are buying from. Though there are no guarantees, a coin dealer's membership in the American Numismatic Association or the Professional Numismatists Guild is a good sign. Both the ANA and the PNG require their members to uphold a strict code of ethics.  The Better Business Bureau (BBB), a nonprofit organization that resolves disputes between customers and businesses. Members of the BBB must adhere to a set of standards. The BBB's Business Reliability Reports can tell you of any disputes that have been reported to the BBB over the last three years.

In Maryland, the Consumer Protection Division of the Attorney General's Office mediates complaints between customers and businesses.

If you need more help

Although the Pratt Library does not appraise coins or bills, we are happy to provide assistance in finding the "book" value for your currency, using print and electronic resources at our library.

As Maryland's State Library Resource Center, the Pratt Library has a broad collection of resources for coin and bill collectors. What we've mentioned in this guide is only the tip of the iceberg. If you've tried these sources, and you still can't find what you're looking for, please email us, call (410) 396-5430, or contact us by mail:

Enoch Pratt Free Library
State Library Resource Center
400 Cathedral Street
Baltimore, MD 21201