Finding a Valuable Coin is What Coin Collecting Is All About

Coins have been used since the mid-seventh century in countries all around the world. Augustus Caesar was known to be an avid collector of coins. It wasn’t until the 14th century that coin collecting became widespread. Though coin collecting was happening across the globe, it wasn’t a popular hobby as most people simply couldn’t afford to collect. From the 14th century to the mid-19th century, coin collecting was a hobby of the privileged classes. Coin collecting was viewed as on a par with collecting artworks. Coins were valued as much for their intrinsic beauty as they were for their rarity. Beginning in the mid-1800’s, coin collecting became a hobby with the growing middle class as well. Collecting not just rare coins, but also coins that were foreign or exotic became the norm. This coincided with the development of numismatics, or the study of currency, as a discipline.

What Makes Coins Valuable?

Many coins are considered legal tender and have a face value. But value depends on a variety of subjective factors. The least subjective of these is probably the bullion content. Is the coin made of gold or silver? The content of precious metals affects the value.

Coins are marked with the date and the mintmark of the mint at which they were minted. This is known as mintage. Mintage is the total number of coins that were made at a particular mint on a certain date. The lower the mintage number, the higher the value typically.

The population estimate is the number of coins estimated to still exist. Coins can be lost due to fire, wear, melting, burial and more. Even with low population numbers, coins may not be in demand and so, are not of high value.

Condition is a big part of any valuation. Is the wear on the coin excessive? Is the coin damaged in some way? Is the date illegible? Poor condition will reduce value.

Putting Together a Collection of Valuable Coins

To succeed, a person has to know what is valuable. They should familiarize themselves with the coins in circulation that are considered rare. They need to know what he’s looking for. They should go to antique stores, pawn shops, and coin collecting clubs to find coins that are for sale. Buying coins is the easiest way to start a coin collection.

To expand a collection, go to garage sales and flea markets - this can be a good way to find an entire set of coins at a reasonable price! Look through pocket change to find any interesting coins. People have found coins worth thousands doing just this. Ask friends and family if they have coin jars that can be searched or bought. Many people collect coins for years without cashing them in. He can exchange paper currency for rolls of coins at banks. Looking through dozens of coins can sometimes produce a find. Metal detectors are also commonly used everywhere from city parks to beaches.

Specific Coins To Search For

There were only 100 1969-S Lincoln Cent featuring the Doubled Die Obverse made and they are highly prized for their doubling of letters and numbers on the coin. Similarly, the 1955 Doubled Die Penny also shows a doubling of letters and numbers.

State quarters are popular collector coins, but the ones with errors are particularly sought-after. The 1999-P Connecticut Broadstruck Quarter was made when the die was not properly aligned with the quarter. The 2004 Wisconsin State Quarter With Extra Leaf is unique in that the extra ear of corn on the tails side is thought to have been intentionally added by a mint worker. The 2005-P “In God We Rust” Kansas State Quarter was minted as a result of a grease build-up occurring at a particularly interesting place. Some other notable coins to collect are: