Old coins can be fun to collect simply because there are so many unique designs and histories behind each coin. But are they worth anything? Like any type of collection, worth depends on what you have.
Investing in old coins can prove to be very profitable if you get your hands on the more rare coins. If you’re not an expert coin collector, though, you may have no idea where to start. Or, if you were gifted some old coins, you may be wondering if they’re worth keeping.
Here are some ways to determine the potential value of your old coins:
Quality of the coin
Whether or not the coin was heavily circulated or not can have a big impact on the value. If the coin is in “mint condition,” it will obviously carry the highest value. If you have a coin that looks old and worn, that can bring the value down quite a bit. But, if it’s rare, even an old coin in poor condition can be worth a lot.
Type of metal
Finding out what type of precious metal your coin is made of is crucial. There’s always a possibility of counterfeit, so you want to verify a coin’s authenticity.
One of the easiest ways to determine the metal of a coin is a magnet, but there are several different tests for various types of metals.
Range of value
Once you determine the quality and type, you can look at a range of values chart for your specific old coins. This can give you a better idea of whether or not you should insure it and what kind of price range you can negotiate should you choose to sell it.
Here are some other helpful resources on determining the value of a coin:
- How to Determine the Value of a Collectible Coin
- The Collector’s Guide to Coin Grading and Certification
- Differences Between a Coin’s Face Value and Actual Worth
Here at Provident Metals, we offer a wide selection of numismatic coins at a great value! Add one to your collection today!