Not all old coins have universal value to them. Some coins have value only in a specific place, or for a specific time. If you're the owner of a coin collection or just have some coins you think can make you a profit, it's worth it to figure out the worth of your coins. Here's how to get started with that.
Start with a Little Coin Research
There's a tremendous amount of resources online for coin collectors and those who want to research specific coins. In fact, you can even just type in a few of the coin's identifying characteristics into a search engine, then start to narrow down the possibilities from there.
For those with larger coin collections, you can separate them by those identifying characteristics so you can focus on one group of coins at a time. If you have many disparate coins, you will have to research them one by one.
Tips for Determining Coin Value
Like most things people consider collectible, the value of coins can change, sometimes frequently. No matter what value you find for your coins, you will have to determine if your particular coin is in a good enough condition to demand that value.
Quite a few things can decrease or increase the value of a coin. Even if you have some of the same coins in your collection, some may hold more or less value than others. Various coin characteristics can affect value.
Is the coin rare? If the coin came from a limited run, or if it's exceedingly hard to find, then its value will increase. Keep in mind an old coin isn't necessarily a rare one.
Is the coin in good condition? A coin in pristine condition will demand a higher price than a coin that looks abused. The complexities of official coin grading systems may seem daunting to those unfamiliar with it, but it's worth it to learn a little about it.
Is the coin in demand? No matter how rare or perfect a coin you have, it's practically worthless if no one wants it. Popularity drives value. If you find your coin has many people looking for it, you can price it higher than otherwise.
What is the coin made of? If you have a coin that contains precious metals, then it will have an inherent value from the metal on top of its value as a rare or highly sought after coin.
Does your coin have a mistake? Some of the most valuable coins out there are ones with typos or minting mistakes. Often, they're the rarest of the rare.
Selling Your Coins
Finding buyers isn't a simple task. Finding buyers, such as Harlan J. Berk, LTD, willing to pay the amount you would like can take some effort. Because of this, it's sometimes easier to come up with a value you can work with, then looking for auction representation to sell your coin collection.
Many of the coin resources you find will give you information on how you can sell them. You can attempt to sell the coins yourself. But know that coin selling, especially through auction, comes with many challenges to those unfamiliar with the process.