Coin collecting may be both a hobby and a good way to make a little money by reselling it in the future. Depending on what the coins are made from, they may retain their current value or even appreciate. How can a buyer tell if a coin has the potential to appreciate in value?
What Is the Coin Made From?
Typically, a coin derives its value from the material that it is made from. Therefore, if a coin contains an ounce of gold, it will appreciate in value if gold appreciates in value. If the coin is made from silver, the coin will appreciate in value if silver prices go up.
What’s the Condition of the Coin?
A coin that is in good condition will be worth more than a coin that is in bad condition. Prior to making a purchase, you should request proof of the coin’s grade. In the United States, grades range from 0 to 70 with 0 being the lowest score and 70 indicating a coin that is likely in mint condition.
How Rare is the Coin?
Rare coins are generally worth more than a coin that is heavily in circulation. Just like there is a grade for condition, there is a grade for rarity. The Sheldon rarity scale ranges from R1 to R8 with R1 indicating a common coin and R8 indicating a unique or almost unique item.
Ready To Start?
When done correctly, coin collecting can be a fun and profitable hobby. Rare coins, coins made from silver or gold and coins that are in good condition can appreciate in perpetuity. And when you are ready to make a bid or purchase an item on consignment, visit U.S. Auction Online. Or you can register to view winning bids to get an idea of the value of items that you already possess.