It is a common belief that the older a coin is, the more valuable it is. While the age is a primary factor in determining the value of a coin, this is not the only aspect that needs to be considered. Professional coin collectors know that old coins must be examined closely to decide what their genuine value is. This is often done by an appraiser that has the knowledge and experience necessary to place a monetary value on old coins. These are some of the other factors that determine how much old coins are really worth.
The condition, often referred to as the grade, is often the most important thing to consider when placing a value on an old coin. A special grading system is used and the condition of the coin determines the grade it will have. The more pristine the condition of the coin is, the higher it will be valued.
The rarity of an old coin also plays a role in how much it is valued at. However, there are two different types of rarity that are considered. First there is the condition rarity. If the coin is in excellent condition and receives a higher grade, it may be even more rare. There may be very few coins like it that are in mint condition, but it may be common in poor condition collections.
Absolute rarity is also considered. This factor determines the total rarity of the coin regardless of its condition. If only a few original versions of a certain coin were manufactured, the coin is considered very rare and may also be very valuable.
Supply and Demand
Supply and demand also determine the value of old coins. The supply is determined by how many of a certain type of coin are still available on the market today. Demand determines how popular the coin is among other collectors and how much they have or will pay to get it. If the supply is low and the demand is high, the coin may have a very high value.
In the past, many coins were made of precious metals. These included gold, silver or platinum. If a coin has a high content of any of these precious metals, it may be highly valuable.
You can get an idea of what your old coins are worth by having them appraised. If they are appraised for an amount worthy of reselling them, put them up for sale and see what other coin collectors are willing to give you for them. If you decide to keep them longer, their value may eventually increase.