Rarity and Condition
People have been collecting coins from the time that the first coins were minted in early Greek and Roman times of around 600 BC, both for their face value and also for the added value, which can be due to special characteristics or limited availability.
But how can you determine the value of the rare coins in your collection?
There are many factors that can determine if a coin is valuable, such as limited numbers, obscure variations, metal content, for example gold or silver, and condition. Let's look at these factors in more detail to see what you need to be aware of when evaluating a coin.
A coin expert will follow several basic procedures when evaluating a rare coin. Firstly, the coin should be handled as little as possible to avoid any damage; wearing soft gloves will help you here. Place the coin on a soft, non-abrasive surface such as a jeweler's cloth and if possible arrange a light source above the coin. A magnifying glass, or better still a lamp fitted with a magnifying lens, will help you examine the details more closely.
Take a look at the faces of the coin first. The better the condition of the coin, the more valuable it will be. Make a note of any scratches, deformities or other damage on both sides. Check for the date, the country of origin, and the coin's denomination (face value). This will enable you to look up the coin in a catalog or on the internet to get a basic idea of its rarity and possible value.
Grades for rare coins are defined as fair when the coin is so well worn that identification marks are hard to read. A coin in good condition is still well worn, but lettering and other marks can be seen. If your coin has definition in the identification marks and is lightly worn, it will be classified as a fine coin. To obtain a very fine grade, your coin will still have some light wear. If this light wear is restricted to just the high points of the coin, it can be classified as very fine, while the top of the range grade, mint condition, allows for no wear visible to the naked eye at all.
Evaluating rare coins is not an exact science, but by following these steps you will begin to get an idea of the possible value of your rare coin. Market demand will determine how much your coin is actually worth, so to get a more accurate answer; it's a good idea to seek the help of a reputable coin dealer.
Good luck with your treasure trove!
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Tips on Coins
Save pennies and or coins in a jar and periodically go through them. If your grandparents have coins, ask to go through them after doing your research on collecting rare coins. When you get rolls of coins for whatever reason, always check them. Sometimes, pawn shops and antique stores have good deals on old coins. Always pick up pennies or coins you may find on the ground.
Also, if you are at a yard sale or estate sale you might find rolls of coins that are being sold to get rid of, you can usually buy these for the face value, i.e 50 cents for a roll of 50 pennies. Go through it to check for older or rare coins, whatever is left, you can take to the bank and deposit.
While not exactly germane to the subject of rare coins and their value, this is just a fun novel to read...
The Rare Coin Score: A Parker Novel
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Manufacturer:University Of Chicago Press
Parker, the ruthless antihero of Richard Stark’s eponymous mystery novels, is one of the most unforgettable characters in hardboiled noir. Lauded by critics for his taut realism, unapologetic amorality, and razor-sharp prose style—and adored by fans ...
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Did you know if you invested in rare coins in 1970, you could have made a 7135% return on your investment? There's many tales in which rare coins purchased by savvy investors using only a few thousand dollars, realized hundreds of thousands and even millions of dollars at auction many years later!
In addition, the variety of options are endless. Almost every country in the world has minted coins. You can collect ancient Greek coins or US coins, the choice is up to you. Within each country, coin designs have evolved and changed over the centuries. Some collectors like to collect a single series while others only collect one coin of every "type".
Today the Mint strikes tens of thousands of proof coins a year and sells them to collectors all over the world. In the 19th Century, the Mint struck only a few thousand silver proof coins each year and only a handful of proof gold coins... Proof gold coins are the caviar of the numismatic marketplace... the beachfront property of rare coins. They are expensive, but when they are rare - demand is always sky high in both good and bad markets.
Over $30,000 in Rare Coins & Currency Discovered in Circulation & Coin Roll Hunting
Here's some unbelievable finds from coin roll hunting and circulation finds. Check out some of the chase pieces that treasure seekers long to find. Take a lo...
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