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How to Figure Out the Value of a Coin

September 16th, 2011 Coins

While you could simply take a coin to a professional to be appraised, it's often easy and fun to figure out how much it's worth yourself. The market is always changing, so while there are no specific set values for coins, there are plenty of ways to figure out how much you can get for a certain kind.

When you're determining the value of a coin, you're really figuring out what someone will pay you for it. For example, a dealer will probably be willing to part with less cash for a coin than a collector who is personally interested in having it in his or her collection. Because of this, you are going to want to find the person who is most invested in acquiring your precious token.

Coin prices are determined by scarcity, demand and condition. The age of the coin doesn't often matter as much as its rarity. If your piece is one-of-a-kind, there is a better chance that you'll find someone who wants it. Mint marks are important factors in determining the rarity, as some facilities don't produce many coins or make certain mistakes on particular types.

Coins that are in good condition are worth more than those that aren't. Sometimes a small mark or difference can determine whether or not your coin is valuable. For example, an uncirculated coin is often worth a lot more than one that was actually used. If more people collect a certain type of coin, it could be more valuable than a piece that isn't widely collected, even if there were more of them made.

When you get a coin, identify what kind it is and look it up either online or at your local library. Look around for similar tokens and see what they're selling for on the market. It won't be long before you'll have a good idea of how much you can get for your shiny prized possession.