One of the most common questions we receive from customers is how much their old heirloom coins are worth. There are a lot of people who have old collectible coins in their family, but don’t really have any idea of their value. Whether you’re holding on to them as collectible items or are interested in selling them, you’re going to want to have them appraised to determine their value and make sure you can fetch a good price.
Here’s a quick overview of what you should know about values of old coins in Mill Valley, CA.
Find your coin values
Before we begin, an important disclaimer: not every old coin you find is going to be valuable. In fact, most of the coins you find will still only be worth their face value. There are, however, some coins that are worth quite a bit of money, and people often stumble upon them without realizing what they’ve got in their hands. This is much more likely to happen if you know the coin is an heirloom that’s been passed down for a particular reason through multiple generations in your family.
There are some great online resources that will give you plenty of information about some of the values of common coins. For example, there are 43 pennies that are worth at least a dollar, many nickels that are worth at least 20 cents, dimes that are worth more than a dollar, quarters that are worth more than a dollar, half dollars worth more than $3 and silver dollars worth $15 or more.
There are also a variety of coin books and magazines that you can find online or at bookstores that contain a wealth of information about collectible coins and the ones that are most likely to be worth a significant amount of money. The Handbook of United States Coins, for example, is a veritable bible for collectors.
You can also go to professionals at pawn shops or collector shops, or send photos via email or online portals to professionals. There are people who are able to analyze the coin, determine its age and type and assess its condition, all of which will go into determining its value. If you do wish to have your coin appraised, it’s important you find a reputable dealer in your area. Beyond just searching the web, you can go to specific coin dealer search directories online. There’s a great one maintained by the Professional Numismatists Guild.
Here are a few general rules to remember if you take your coins in for an appraisal:
- Just because it’s old doesn’t mean it’s going to be valuable.
- Cleaning the coins will actually reduce their value. Collectors will take at least half the value off the coins if they’ve been cleaned to look new.
- Coins set in jewelry aren’t going to be worth as much.
- There are some old coins that are counterfeit.
For more information about determining the value of old coins in Mill Valley, CA, contact Collectible Coins & Jewelry today.