Generally old coins worth money, no matter whether they are made of gold, silver or other precious metal. As for the value of a coin, the price can greatly vary and it goes up as much as one is able to offer. For example, a coin dealer can pay you considerably less than a person who badly wants to add your coin to his collection.
However, there are a few factors that can influence a coin’s value:
1. Coin’s Condition
A coin will value more if it’s preserved in a good condition. If the coin’s condition is perfect, meaning that it has never circulated on the market, it will be worth many times the value of a similar coin which has been in use.
2. The Rarity of the Coin
Generally, the rarer a coin is, the higher it’s price goes. But note, that a coin’s age has little to no influence on it’s rarity. For instance, there are very old chinese coins that sell for only ten dollars because they are available in large quantities, while “1913 Liberty Head Nickel” can easily reach a market value of over 1 million dollars, since there have been only five specimens of it released.
3. Bullion Value
The precious metal of the coin can determine it’s value. A silver, platinum or gold coin will generally not sell for less than the melted coins value.
Some coins are badly wanted by a lot of collectors. If one particular coin has great market demand, it’s price will become higher. Even plentiful coins can increase their value if they are highly demanded by coin collectors. For example, the “1916 D dimes” are very abundant compared to the “1798 dimes” and yet they sell for a higher price compared to the least mentioned ones, due to the fact that a lot of indviduals collect 20th century coins as compared to the 18th century ones.
In order to approximate the value of your coins you should firstly organize and classify them properly and accurately. A “coin price guide” can help you with this task. Then, you have to grade your coin based on a detailed examination of it’s condition. Finally, consult coin catalogues that will give you estimate retail prices of your coins. You could also check the prices in newspapers and online markets like eBay or Yahoo. There is also a book, intitled “World Coins Standard Catalog”, which is used for reference by most collectors and also by coin dealers.
Keep in mind that a coin should not be collected primarily for money, but for one’s self gratification and enjoyment. The fact that a coin doesn’t have a large value in money doesn’t mean that it’s not anymore interesting or fascinating to add to your collection. Those that collect coins for the pleasure of the hobby tend to make most money in the long run.
Every coin will hold a certain interest in itself, in spite of its condition or monetary value. There are certain characteristics which draw the market’s attention, and when this happens you should already have that coin in your collection.