In our latest post “Beginner’s Guide to Coin Collecting”, we talked about the importance of educating yourself before you start collecting coins. This knowledge will help you determine which coins to collect and what to look for in them – what gives coins value. And in this post that’s exactly what we will discuss.
There are several factors that impact a coin’s value and we are going to go over the key components to consider when evaluating a coin to decide if it’s valuable or not.
This is how many copies of this particular coin were issued. The original number of issued coins can impact the price on a big scale. If the amount is pretty small, the coin becomes somewhat more valuable.
2) Meltdown Value
It is also important to understand what the coin is made out of. Meaning, if the metal used is highly valuable like silver or gold, that increases the value of the coin.
3) Surviving Population
Going back to section 1) Mintage, this also focuses on the number of coins. After years of coins being issued, a lot of them get worn out or lost and are removed from the circulation. If the surviving population of the coin is very low, then the coin has a high value and is worth more.
4) “Place of Birth”
This refers to the location of the mint where the coin was made. It seems like a tiny detail, but actually, some of the same coins from different mints can have dramatically different prices.
The best condition of the coin is called the “holy grail” – these coins look as they were just made. Remember, the longer the coin was in the circulation the worse its condition gets. That’s why the coins that were released to the public but removed to preserve their quality, usually have the highest value.
The last, but not the least component of evaluating the coin is the demand people have for it. If the coin is highly demanded, that tells you that most likely it is valuable. Being in demand can change over time due to factors like marketing, trends, collector preferences, etc.
Taking all of these components in consideration when looking for a coin to buy, will positively affect your purchase!
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