: Valued for rarity, condition, and historical significance.

: Rarity (low mintage/survival), Condition (grade), Demand, and Historical Significance. 2. Authentication & Grading (Your First Line of Defense)

Never buy expensive rare gold coins that are "raw" (ungraded) unless you are an expert.

: Coins like common-date $20 Saint-Gaudens Double Eagles that carry a small premium over gold content but aren't strictly "rare".

: Valued primarily for metal content (e.g., American Gold Eagle, Canadian Maple Leaf).

: "Buy the book before the coin". Immense value lies in understanding specific niches, such as ancient Roman coins or pre-1933 US gold, before spending capital. Categories of Gold :