ICCA members tour the country, seeking to purchase older metal and paper currency. This week, through Saturday, they will be at Best Western hotel behind Cracker Barrel on Riverstone Parkway in Canton.
“We base the value of the coin on its rarity and condition, precious metal content and whether it’s 1965 or older with a 90 percent silver metal content,” said Brice Lanier, ICCA field manager.
The association’s first local purchase was a Morgan Silver dollar between 1893-1895, valued at $3,000. After buying a coin, the ICCA sends it to Illinois, where the piece is processed. The association then finds a collector for the item. Essentially, they are the middlemen of the rare coin-trading business. But there is a lot of money to be made for both the buyer and the purchaser.
“The most expensive coin I ever bought was $32,000,” Lanier said.
The coin was an 1803 ‘Large Cent’ penny that may have been was worth near $100,000 after being processed. At the event in Canton, the ICCA had a coin from the Ming Dynasty, dating back to the 1400s.
Yet the ICCA is not limited to coins. All manner of memorabilia can be sold. According to their brochure, vintage jewelry will be bought up to $15,000, and costume jewelry can be purchased up to $2,000. Homemade train sets, action figures, comics and even autographed albums are all fair game for selling.
Since 2006, the ICCA has visited hundreds of cities in America and Canada.
Interested sellers attend the show, have items examined by an ICCA member, and are paid on the spot upon agreeing to the price.
The coin show continues today and Friday from 9 a.m. to 6 p.m., and Saturday till 4 p.m.