Coin collecting is a fun hobby, but people who collect coins want to know what their coins are worth. This can be because they are interested or because they want to invest in coins. No matter why you are collecting, you should start by figuring out what kind of coin you have and how good it is. You can then look up this information on online or printed lists of values. Work with a numismatics group and a professional appraiser if you want to know the exact value of your coin(s).
What You Need to Know About Old Coins
- Find out how old the coin is, where it came from, and what its condition is. You can find out how much your coin is worth by looking it up online or in a book about coin values.
- The value of a coin is based on how much people want it. Common coins are worth less than coins that are rare, in mint condition, or made to honor something.
- Join a numismatics group to find out the value online, or go to an appraiser or a coin trade show to have it looked at and valued in person.
- You can sell old coins online on GKExam which is one of the best please you where you can find the best price of your old coins.
Research on Old Cons
Find out where and when the coin came from
To know the exact value of a coin, you'll need to know what kind of coin it is. On the front or back of most modern coins, you can find the date it was made. Most likely, they will also say where the item came from. Some also have other useful info, like a mint mark (a tiny letter printed somewhere on the coin that indicates where it was minted).
Inspect the coin to determine its condition
The state of a coin has a big effect on how much it's worth. Most of the time, coins that are better made and cleaner are worth more than ones that are damaged or dirty. Uncirculated coins are ones that have never been used.
The best condition for a coin is "mint," and the worst is "poor" (dirty or damaged).
Don't try to clean a coin yourself if you think it might be rare or valuable. Take it to a professional to clean it so that it doesn't get broken or lose its value. What counts is not how things look.
If a coin is very broken, it might only be worth what it is made of.
Check coin value lists online
If you can't find the value of your coin online, check a book like the Standard Catalog of World Coins or the Guide Book of United States Coins. These sources are especially helpful because they may give more than one value to a coin.
- The value on paper (a generally accepted value of the coin)
- The value to "buy" (what a dealer would pay to buy the coin from you)
- The price in stores (what a dealer would sell a coin to a customer for)
- The price for a whole lot (what a dealer might sell the coin to another dealer for, especially when several coins are sold together)
Think about any unique factors
The value of coins can go up and down because they are based on changing interests. When a lot of people want to buy a certain type of coin, the price may go up. Most of the time, rare coins or coins in really good shape are worth more than common ones. Last but not least, commemorative coins may also be very valuable.
Think about these numbers when you figure out how much your coin is worth. For example, you might have a type of coin that isn't very rare. But if it is in mint condition, which is rare for coins of that type, it may be worth more than the "book" value.
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