Every coin has a certain face value, provided that it represents a currency that is still in existence. Ancient Roman coins would be an example of coins whose face value doesn't have much meaning today. For more recent coins, the face value will usually represent the minimum that the coin is worth. However, many coins have value above and beyond their face value. No matter what type of coins you are interested in, it's essential to acquire some knowledge about value and price as they can be an excellent investment. Read on to learn a few factors that contribute to the value of a coin.
The condition of a coin is extremely important when determining its value. Coins are often graded on a scale from “poor” to “extremely fine.” Another scale that is sometimes used is the Sheldon Scale, which rates coins on a grade between one and 70, with 70 being the highest grade. A coin in good condition will have no scratches or blurry areas and all of the information will be easy to read. The date of the coin is one of the major factors affecting value. In general, older coins tend to be worth more than newer ones.
Gold or silver coins have a certain value based on their weight. This will vary, depending on the current price of silver or gold. This is one factor that makes investing in coins speculative, as it's impossible to predict the future of these markets.
Some coins have value because of their rarity. This may be due to the government that minted them only creating a limited number. You can often tell how rare a coin is by a certain letter that appears after the date, which indicates the mint. You should also look for coins that have errors, such as words, numbers, letters or symbols out of place. Certain extremely rare coins were recalled, meaning that there are only a small number in circulation.
One of the best ways to find valuable coins is through online auctions. When you are ready to make a bid on a collectible coin, visit U.S. Auction Online. Or you can register to view winning bids to get an idea of the value of items that you already possess.