Determining the worth of coins isn’t as easy as you may think. In order to sell them at their right value, several things have to be considered.
Collectors vs. Dealers
Whenever possible, sell to a collector rather than a dealer. Almost always the true collector will pay more than the dealer.
The drawback is that finding them can be quite difficult. Even when you do, you must sell them something of real value.
A dealer, on the other hand, is more likely to buy even if your coins are not that rare. They are also widely available. But as stated, they’ll buy it for less money.
Factors that Affect the Worth of Coins
The most critical factor is rarity. An Indian head cent (1877) will be worth $300 or more. An 1865 variant will sell for $10. The 1903 type retails for $1.50 or thereabouts.
When judging value, scarcity is the most influential factor. The mint mark or lack thereof can also affect the price. Also, consider that certain sets or variants are more valued than others.
Of course, the condition is important too. If it’s in good shape, it will be worth more.
However, it also boils down to the dealer or collector. If the coin is rare enough, it will still fetch a good price even if its condition is less than ideal.
Circulation is also a factor. The S Quarter (1926) sells for about three dollars. But the uncirculated can fetch $600.
The worth of coins is heavily influenced by circulation. An S-VDB cent (1909) goes for $300 even worn out.
For non-circulated types, the value doubles. Demand will also determine its value.
For example, the D dimes (1916) sell for $1,600, while the 1798 variants sell for $1,000. The reason is mercury dimes are more valued from 1798 coins.
How to Check Its Value
The easiest way is to take the coin to a dealer. Don’t tell them that you’re selling. Just have it appraised. Go to different dealers to get the average value. You can also go to the Web.
There are several sites that can identify the worth of coins. The next step is to grade it. Also, check for mint marks.
These are just average value. The factors mentioned above can drastically alter its price.
1 cent Wheat 1909-1958: 2 cents
5 cent Liberty Nickels 1883-1912: $1
10 cent Barber dimes 1892-1916: $1.25
The 25-cent Barber and Standing Liberty Quarters are worth $3. Silver Washington goes for about $1.15. The 50-cent Walking Liberty is worth $3.
The 1878-1921 Morgan Dollars are worth $7, as are Peace Dollars (1921-35). The Eisenhower dollars from 1971-78 are worth about a dollar and a half.
On the surface, the worth of coins may not seem much unless you’ve got the rare ones. But taken together and with the right buyer, you can get quite a profit.