Whether you’ve just started collecting coins or have been a collector for many years, we all hope that on the hunt there will be one or more that you can sell for big bucks! Or if you’ve been lucky enough to inherit a large collection or discover some old coins in an attic or an estate sale and believe some of the coins are highly valuable.
You’re probably wondering how you can tell which coins are worth money? And, once you do find a valuable coin, how do you sell it?
Consulting the Coin Books and Magazines
If you’re new to coin collecting, you will want to educate yourself on all things coins. To learn more about the value of certain coins you own, pick up the “Blue Book,” an annually printed Guide Book of United States Coins.
The values in the Blue Book are a bit closer to the selling prices. The Red Book usually posts higher retail values that most dealers and coin buyers will pay.
Inside you’ll find listings of the average wholesale/retail price of every United States coin, based on coin grading. This is a great starting point for you to begin understanding the value of your collection. Low mintage and rare mintmark are two of the key factors in determining rarity.
Determining the Value
There are three primary variables that help determine the value of a coin.
- Initial Mintage Number. This refers to how many of the coins were originally minted and available in the market.
- Coin Grade. The better condition your coin is in, the more valuable it can be.
- Demand. The more desirable the coin is to buyers will increase the price.