Many of our customers have inherited individual coins or coin collections that belonged to family members or other loved ones and they want to know whether the coins have real value. There are a number of factors that determine whether a coin has value to numismatists – those who study and collect coins, paper money and sometimes medals. Following are the key factors that appraisers use to determine a coin’s value:
Supply and Demand
That tried and true economic theory applies to coins. Obviously, the more demand that there is by coin buyers, particularly when a coin is hard to come by, the more they are usually willing to pay for it. Generally, the rarer a coin is, the more it is worth to collectors. The rarity of a coin is one of the most important factors in determining its value – if not the most.
Demand for particular coin may change over time. Like nearly everything else, coins may fall in and out of favor with collectors over the years. That’s why it may be wise to hold on to an old coin even if it currently has little value. You never know when coin collectors’ tastes will change.
Design and Strike
Many collectors place more value on a coin that has a unique or particularly attractive design than on more traditional ones. Aesthetics are important in how much a coin is worth, particularly when coupled with other factors, like its scarcity.
Strike refers to how the design was stamped on to a coin. A well-struck coin is one in which the design is clear and sharp, with no errors. Of course, there are some exceptions where a strike error may make a coin more valuable, particularly if it was never circulated.
Coins are graded on a 1 to 70 scale. Coins considered to be in mint condition, such as uncirculated coins, are usually in the 65 to 70 range. These are considered the most valuable. Grades are based on a number of factors, including condition and aesthetic appeal. The grade of a coin is among the factors most disputed between coin buyers and sellers.
This isn’t always the significant factor that many people assume it is. While older coins can be more valuable than newer ones, that’s not always the case.
If you have some coins that you believe may have monetary value beyond their face value, bring them in to us. We buy and sell coins as well as gold and silver jewelry, art, antiques and other valuables. Twery’s has built a reputation as a reputable dealer for these items and more. People around South Florida know that they can trust our appraisers to offer them a fair price for their valuables. Call or contact us online or stop by our Greenacres location to find out how we can help you.