A Coin Is Worth More Than A Coin
Coin collectors, old and new, have always wondered whether the coin or coins they have in their possession are worth more than the face value today - or in the foreseeable future.
Even though that a coin which has little or no value monetarily is not necessarily one would not keep or make part of one’s coin collection.
The following are basic factors which could influence a coin’s value.
How rare or un-rare is it?
Generally, the concept that everyone knows and follows is this: the rarer a coin the higher the coin’s worth. This rule is true in some cases and – fortunately or unfortunately – false on the others.
There was a situation where a Chinese coin, a thousand years old, sold for only a few of dollars because there were many of the thousand-year-old Chinese available. Compare this to a coin made only in 1913, a nickel specifically called a Liberty Head, which could sell for (hold your breath) one million dollars! It is known that only five of these coins exist, consequently the enormous monetary value.
Is the coin in good condition?
The better the condition of the coin, the better the price that it would bring on the market, because the grade of the coin would match its condition. A coin that is in mint condition - add to this that it is basically an uncirculated coin – is actually worth one hundred times more than a similar coin that is just in average circulated condition.
Demand and supply
Sometimes, when the demand for a specific coin is high, that coin’s worth – despite the number of them available – is just as high. Take the example of the coin dated 1916-D, and compare it to the value of a coin dated 1798. Many people prefer to collect coins of the 20th century rather than those that are from the 1700’s. The 1916-D dimes sell higher than the much older 1798 coins. The fact that there are more (approximately four hundred thousand) 1916-D coins than there are dimes from the year 1798 (only about thirty thousand), does little to affect the price of each.
It is best to have a professional coin dealer grade the coin(s) and determine the value of any coin(s) you may own. Who knows, it could be worth more (or less) than what you think.
Articles compliments of skaDoogle
Other Interesting Articles
Coin collecting has been a very popular hobby to many people of all ages. The marketing of coins has expanded widely and because of this wide the market prices of coins has varied immen... [Read more]Do's And Don’ts Of Coin Collecting
Coin collecting is something that takes time to learn. The most important thing to remember is that you are doing it for the right reason - if it is a passion, then it is something worth purs... [Read more]Coin Buying 101
There are various sources where those “special coins” can be purchased. The following are the basic methods and starting places to obtain the coin(s) you have long wa... [Read more]Software For Coin Collecting: The Smarter Way To Collect Coins
It is a common coin collecting problem: too many coins, not enough information on what kinds of coins to collect, or a disorganized group of collecti... [Read more]All About Coin Collecting: Grade Coins With Ease!
Coin collection is not just about having as many coins as possible. More important than the number of coins is the quality of those coins. This quality is measured by the coins’ grade and the grade is measured using a scale from zero to seventy (seventy being the highest point grade). Doctor William Shelby introduced this point scale in his work “Penny Whi... [Read more]
|Error: It's not possible to reach 'http://news.google.com/news?hl=en&ned=us&q=Coins&ie=UTF-8&output=rss' RSS file...|