What is a coin worth?
June 30, 2026
Coin dealer Erich Cahn coined a famous saying in the 1950s. He said: “A coin has value equal to whatever a fool is willing to pay for it.” Now, those who bought (exceptionally good) coins in the 1950s were certainly no fools. On the contrary. They wisely invested their money for the enjoyment of their descendants. Erich Cahn had no intention whatsoever of discouraging them from buying coins. On the contrary. His statement simply means that coins do not actually have a value that can be quantified. Every price reflects current preferences, expectations, and desires. The higher the price, the clearer this becomes. I would like to illustrate what I mean by this in this article.
From Coin Weekly