A seasoned numismatist with more than 50 years of practical experience in the field of rare coins, Kenneth Goldman operates his dealership in Needham, Massachusetts, near the towns of Wellesley, Dedham, Westwood, and Newton. He started his own coin collection at age 6, and became a full-time rare coin dealer when he was 18. Throughout his long career, Kenneth Goldman has handled transactions involving nearly every type of American coin ever minted, and has been used as an expert resource by both the New York State Attorney General’s Office and the Federal Trade Commission.
Some people collect coins for their beauty, others for the sense of history they impart. Many collect, at least in part, as a financial investment. Regardless of why they collect, though, people should have an accurate understanding of their collection’s value. This is important for a broad range of reasons, from financial and estate planning to insurance. Determining a coin’s value, though, can be a challenge, especially with scarcer specimens.
Kenneth Goldman tells the story of buying a coin at an auction in the 1970s — a Bust Dollar, minted during the nation’s early days — for $3,900, and then quickly selling it for $6,500. the next day !! This kind of quick profit in the rare coins field is actually the exception. Most collectors generally acquire their specimens and hold them for long periods of time. Keeping track of the value of most is fairly easy because of the brisk trade in over-the-counter sales, auctions, and coin shows, which also help collectors determine the pricing of private transactions. Coin dealers rely heavily on the Guide Book of United States Coins, commonly called the Redbook, for their own retail pricing.
The rarer the coin, though, the less reliable the price list. This is why collectors should always have their collections appraised by an experienced professional like rare coin dealer Kenneth Goldman, who can be contacted by mail at PO Box 920404, Needham, MA 02492. Alternately, he can be emailed at KenGoldman@aol.com or called at 781-449-0058.
Kenneth M. Goldman, President of Kenneth Goldman Inc. Rare Coin Co. would be pleased to help or assist in any way.