How to Tell if You Have a Rare Coin

March 23, 2021 9:37 pm Published by Leave your thoughts

If you’re a budding numismatist, especially one who has recently inherited a coin collection, you’re probably wondering how to tell whether you have anything particularly rare or valuable. Whether you’re interested in simply knowing the material value, or you are considering selling or pawning rare coins in Barberton, OH, there are a few ways to find out if you have a rare coin.

How to tell if a coin is valuable

Determining a coin’s value depends on several different factors. Here’s what a buyer will consider when you try to sell your coins:

  • Grade: Coins are graded by their condition. Grades are determined by a scale of 1 through 70. The higher the number is, the better your grade, and the more valuable the coin will be. Graders consider the coin’s color, luster, the strike (how clearly the design is stamped) and the aesthetic value. They’ll also consider any physical damage, such as corrosion, dents, scratches and residue from improper cleaning techniques. All of these factors will go into your coin’s score. If it’s above 65, it’s likely of interest and valuable to other collectors.
  • Age: Age often factors into a coin’s value, but it’s probably not the determining factor. Some newer coins are much more valuable than old coins, and vice versa. Age is just one part of the whole puzzle.
  • Metal content: What kind of metal does your coin contain? Silver and gold coins are often more valuable simply because of their metal content. After the Great Depression began, coins were minted in steel, nickel, aluminum, copper and bronze, and these coins are much less valuable for the metal content alone.
  • Design: Aesthetic value is another factor that can make your coin more valuable overall. Some coins are prized simply because they have particularly beautiful designs, while in other cases, a beautiful design can make one type of coin more valuable than another with similar grade, age, metal content and relative rarity. This means that sometimes, buying a coin just because of its beauty can really pay off.
  • Rarity: Rarity is probably the most important factor in valuing a coin. After all, the rarer it is, the more likely it is to be in high demand, simply because there aren’t many others out there like it.
  • Demand: Finally, demand factors into the value—how valuable can a coin be if no one is interested in buying it? Demand and rarity often go hand in hand, but not always. The more people who are interested in the coin, the higher the price will go.

Consider having your coins appraised

If you have a coin collection, you should consider having it appraised. This is the best way to find out what your coins are worth and whether you should consider selling or pawning your rare coins in Barberton, OH. Sydmor’s Jewelry and Pawn Shop is happy to help you determine whether you have any particularly worthwhile coins in your collection—we buy them, too. Reach out to us today to get started.

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