How to value old coins
how do i find the value of old coins? how much my coin worth?
Ancient coins have a great value and that is why many companies or people are interested in buying them. The price, in fact, is not stipulated by regulations, it is very subjective and depends on how much it is valued.
It all depends on the amount you are willing to pay and your valuation. However, there is a trend or guide that is given when valuing currencies.
The valuation of coins is perhaps the price or value that is closest to what it should be. There are many buyers and, if you have an old one, it is important to know how its real value is determined.
Coin appraisal is the process of valuing a coin and requires precision and care. Hence, the necessary requirements must be taken into account. It is the most effective process to know the value of coins or bills.
Coin Appraisal: How Value Is Determined
The first step is to determine the value of the coins and bills. It is important to have a specialized catalog on hand that allows correct identification. Remember that the older the coin, the higher its value.
It is necessary to value to look at the date printed on the coin to establish its age. Of course, dating is a modern process, since for Europeans it began to be used at the beginning of the 17th century.
It is possible that some dates do not agree with the Gregorian calendar. This generally happens with countries like Israel or India, as they use other calendars. It should always be taken into account that some were not minted during the year indicated or printed.
You also have to know the country of origin, as it is a factor that affects the value of the currency. The price or value of an ancient coin is determined by its history, which merits a brief investigation of the country of origin of the coin.
Example of Coin Appraisal
In such an inquiry, the degree of rarity of the coin could be determined. There are pieces that only have a few units. These would obviously be of higher value. Therefore, it is pertinent to take into account that the valuation and rarity of the coins will depend on several factors, among which are:
- The amount that were manufactured, as an example, the 1914D Lincoln penny. It is one of the most sought after, as only 1,193,000 were manufactured. Even test ones are highly sought after.
- The place where the coin was struck. Some factories were in charge of the coin for general circulation, while others were only minted as commemorative ones. One process or another determines a certain value for each coin.
- You should investigate if the design of the coin changed, because it is decisive in the value of the coin. If you have two designs, it means that it was improved and went into circulation.
- The material in which it is made. It should be noted that the oldest were made in silver or bronze.
- Find out if the coin was taken out of circulation. Sometimes some countries took them out of circulation because they had an error. Even one of the countries that did it was the United States when it began to take gold coins out of circulation to melt them.
- If the coin has errors in its elaboration, it generally does not go into circulation, but if due to an error it goes into circulation, these are the most desired by buyers. Therefore its value will increase.
Remember that the interest of collectors is related to the rarity of the coin. It will also depend on the demand that the country presents, as well as the popularity that the currency presented.
The state of conservation in which the coin is found will also affect. If it is well cared for, a collector will pay more for it and raise its value. Status is measured by the Sheldon scale, giving them grades 1 through 70.
Under this scale, 1 is indicated for the lowest grade coin, while 70 is the highest. Such a scale is used worldwide, although some collectors prefer the use of descriptive.
Where to find an online coin appraiser
Appraisers are generally used as a guide for the valuation of coins. In case of using these catalogs it is important to choose the one that is up-to-date, thus working based on updated prices to carry out a better appraisal process of the coins that are had.
Another way to price your coin is by taking it to a certified appraiser. This is because some people who are coin collectors have training to evaluate coins. Therefore these appraisers trained to determine the state in which it is located and consequently its valuation.
For this you must carry out a brief investigation of the professional Numismatists or Professional Coin Sellers Associations. Obtaining accurate results is possible by making use of the internet. The data with addresses and details of the most recommended places will appear.
Once you have chosen the desired appraiser,