Learning How to Determine Old Coin Value

Learning How to Determine Old Coin Value

Learning How to Determine Old Coin Value

We all understand that the value of the currency, be it paper or coin, lies in it's denomination. The face value of a coin, however, may be many times the denomination stamped on its surface. Old coins can be surprisingly valuable and it can pay to be able to recognize that value should one of these coins find its way into your pocket.

Of course, collectors of coins are more skilled at evaluating their worth. Often times, it is this skill that non-collectors rely on when having a coin appraised. Non-experts, however, can use alternative methods to get a rough idea as to a coin's value.

The first place such a person should look is online. The internet has provided all of us with a seemingly endless supply of information from around the world. Not all of this information is accurate of course and researching old coin value online is best approached cautiously. Still, the ability to easily access so much targeted information very quickly makes the internet the best place to start your search for old coin values. Try searching for online forums, blogs or discussion groups who talk about coins. There are many of these and the people there are absolutely passionate about numismatics, or the study and collection of different types of currency. One forum in particular, the coincommunity forum, is a rich source of information and experts on the subject. If you can photograph the coin in question, upload it to a forum post where you ask about its value.

Next, try searching out local coin collecting clubs or swap meets. Enthusiastic coin collectors are everywhere and are usually happy to take a look at any old coin you might have. They can be a valuable resource in helping determine old coin values. You can take a coin to a coin dealer, but depending on the type of business he is running, the results you get may vary. Be aware that unscrupulous dealers may undervalue your coin in the hopes that you will part with it easily when, in fact, it might be quite valuable.

If you visit your local library, you should be able to find books about old coin values. Notably, the Official Red Book is a coin collector's guide that is widely accepted as a trustworthy and accurate resource. It is updated each year and includes a wealth of information including pictures and history. There are many other books published each year, many of which are equally valuable. Some of this type of material is available online as well.

Finally, you can get a rough idea of a coin's value by checking out similar coins for sale in the marketplace. Don't overlook Ebay or other online auction sites. Searching through these can provide you with a starting point from which to establish the value of your coin.

Armed with this knowledge, you will hopefully be in a position to learn to recognize and evaluate old coin value. The handful of change you receive from the market or convenience store may contain a rare coin that is worth many times its face value. It is fun and interesting to look for these hidden treasures that are still in circulation, maybe even profitable!

Jack D Carmichael is a writer, golfer, blogger, coin collector and snorkeler.

http://www.aiawestern.com

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