Coin collecting has been a hobby among many history, art and antique fans for thousands of years, beginning with ancient kings and slowly becoming a passion for everyday individuals. At Sol’s Jewelry & Loan, we often see collectors from all over the map, stopping in to browse our vast inventory or to thin out the collection they’ve been keeping safe.
There are quite a few methods to determine the value of a coin, and many aspects that go into that value. Price is largely determined by the market, or what a buyer is willing to pay, the scarcity, or how rare the coin is, and the condition of the coin upon sale.
If you have coins and are unsure of their value, here are a few tips to determine what they might be worth:
Type of Coin
In the U.S., the major coins being collected range from pennies to half dollars. Commemorative coins and those rich in history often see a greater value. Error coins also tend to be worth more. Gold and silver coins are always worth more than their face value, offering a sure return on the time and effort it takes to preserve a collection.
Age of the Coin
As you might expect, the older the coin, the more it should be worth. Of course, it needs to be in good condition to truly add to its value, but, generally, coins that have less of a role in modern circulation make a collection all the more valuable.
Condition of the Coin
A valuable coin needs to be kept clean and safe to maintain its worth. Finding a beat-up coin in your pocket can often mean a lessened value; but those bright and shiny, dated pieces are really what makes the hunt worth it.
If you notice that a coin has a number missing, a letter missing, a double stamp or a mistakenly altered appearance, it’s safe to assume that it’s worth a bit more. Adding age and historic relevance to a mint mistake is a rare find, worth much more.
Do the Research
The easiest way to determine the value of your coins is to find similar coins online and see what they’re selling for. This is not always accurate depending on the age and condition of the coin in your collection, but it’s generally in the same ballpark. It’s also helpful to pick up a coin blue book, which serves as a guide when it comes to coin value.
To learn more, visit the U.S. Mint or stop into Sol's Jewelry & Loan in Omaha, NE for an appraisal
. Our honest professionals would be happy to take a look at your collection and work with you to determine the fairest price. We hope to see you soon!