Everyone, Trying to get a handle on this. Do coins have these value possibilities? Did I miss anything? Face value, Numismatic value, Intrinsic metal value, Sentimental value. Face value is pretty straight forward. Intrinsic metal value is based on market parameters. Numismatic values can change with the whims of society. Sentimental value has so many characteristics that it defies definition. Just trying to sharpen my mind. Thanks,
Hate to say it, but "scammable value" popped into my head. Coin has something you can convince someone else is valuable, or has something valuable when it doesn't. Very cynical category, I know.
Maybe an example I am familiar with would help. I'm looking to buy a 1908 No-Motto Wells Fargo in 2023. The coin will probably cost me about $4,000 give-or-take. Let's use $4,000. The face value is $20. No, I will be using Andy Jackson instead of the coin to buy things. With gold at about $1,800 that's the metal or MELT value. With $1,800 in metal/melt value, right now it has $2,200 in numismatic value. Sentimental value is not something I have heard mentioned before, but I guess it's the amount you would pay above and beyond FMV for a coin given a particular coin's pedigree (maybe also holder, lineage, past sales, etc.). So if a 1908 NM WF costs $4,000 and I find one with a particular sales history that appeals to me, maybe I am willing to pay $4,200 for it. Things like OGH and CAC will add to the numismatic value. Sentimental or personal value are things particular to you and you alone.
I perceive that as value to you and no one else, other than someone with the same personal connection (relative, close friend). Only a handful of people care if it was my grandfather's coin. Good point though, "Provenance Value" could be on the list. Perhaps it's a subset of numismatic value.
You forgot my value, his value, her value, and your own value. With my value being at the top! "In the eye of the beholder."
There is also historical, or one might say, cultural, value. Those have overlapping definitions where they can mean the same thing or different things. Both of those also overlap with numismatic value which is also concerned with historical and cultural values. Cultural values also overlap with artistic values which also overlaps with numismatic values.
Intrinsic value = the value of the base precious metal or the face value which ever.is higher. Extrinsic valve = numismatic value, intrinsic metal value, sentimental value, scammable value, market value, wholesale value, personal value, provenance value historical value, cultural value, or any other value that adds to the intrinsic value.
