Since the begging of the introduction of currency, coins have always been used for trading goods and marking the historical events. Old coins can worth a lot if someone can find out their actual value. If you have a bunch of coins which you think are worth a fortune, but not sure how much, then the factors below will help you find the true worth of your coins.
The right equipment
You will need to invest in a couple of tools to determine the value of your coins, or you can visit a firm which can do the work for you. Some of the things you will need will include a magnifying glass of 30x or more and a precision scale. This will determine if you coins have any scratches or weight loss due to excess use.
If you do not have authentic coins, you should drop the plan of selling them right here unless someone is interested in buying fake coins. You need to have authentic coins to sell them in numismatics market.
The rarity of a coin can really boost its price if the coin is related to an important event from history. If you can make out how rare your coin is, it will help you find a closer number to its value. Take the help of the experts to find out the rarity of your coins.
Provenance can be your jackpot factor in determining the value if you have coins more than a thousand years old. If you can find out the importance of the coin in the era it was used, it can add up a great point to your coin’s worth.
Another important factor in determining the value of your coin is its composition or its bullion value. The bullion value is the measurement of the gold, silver, copper and other elements used for making a coin. If you have a pure single metal coin, it can have a higher value than the alloyed coins. You can visit a bullion centre to find out what elements are used to make your coin.
If your coin is certified by an agency or an organization, it will increase its value. The sellers are more interested in coins which are certified by professional graders than believing in your words. A certified coin can be trusted more and have higher bids at the auctions.
If you bought a collectable coin, you must have received it is packaging. Collectors believe the true value of the coin is inside the packaging. If the packaging is broken or opened, it lowers down its mint value. Make sure to keep the packaging safe and crisp to make better deals.