Are you interested in selling old coins? Before you head to the coin shop to sell your coins, you should take a few minutes to look up the coin value. Coin collecting is a great hobby, but not every coin is worth selling at a given time. In some cases, hanging on to a coin for a little longer can lead to a great deal of profit. Here is how to figure out if a coin is worth selling before you head to the coin shop.

Know Your Mint Marks

One of the best ways to figure out if you have a coin worth selling is to become familiar with how coins are rated with mint marks. For example, you may have a coin in your collection with a “D” stamped on it. This is the mint mark. Check the mint mark to ensure you look up the right coin's value. Based on our internal knowledge, a coin can have the right year marked, but the wrong mint mark, which will decrease the coin's value, so it's imperative to take the time to check.

Understand That Old Coins May Just Be Old Coins

A common mistake that novice coin collectors make is thinking that “old coins” are valuable simply because they're old. While it's true most “ancient coins” do have some value, old coins may or may not be considered valuable, so it's important to do the research. According to Coin Week, the first gold coins were minted in Florence, Italy in 1252. If you had a gold coin from this era, it would be highly valuable. If you have a quarter from 1970, don't expect a lot of value.

There are quite a few variables when it comes to building value with a coin collection. One of the most important variables is how rare the coin is. The more common the coin, the lower its value.

Review the Condition of the Coin

According to Work and Money, coins are ranked by condition as well as other factors like age and rarity. The better the condition of the coin, the higher the value. Microscopic scratches and wear devalue the coin. However, if the coin is especially rare and there are few coins in the hands of collectors that can set the standard, it can help to raise the “condition” criteria of the coin.

A trusted coin shop can be a great source of information. Check out Center Gold today to learn more about what to look for when you decide to sell a coin. Our team of professionals will be more than happy to assist you!