How do I find out what my old coin is worth?
Step 1: Identify the Coin
Start by determining exactly what you have: country, denomination, year, mint mark (a small letter like 'D' or 'S' on U.S. coins), and any major variety. Use a coin catalog, such as the 'Red Book' for U.S. coins, or online resources like PCGS CoinFacts. If you can't read the date or mint mark, try a magnifying glass and good lighting.
- Look for date, mint mark, and any inscriptions.
- Note the design type (e.g., Lincoln Wheat cent, Morgan dollar).
- Check for errors like doubled dies or off-center strikes.
- Use a coin identification app or forum for help.
Step 2: Grade the Condition
Coin grade runs from Poor (P-1) to Perfect Uncirculated (MS-70). Most old coins are in circulated grades like Good (G-4) or Very Fine (VF-20). Grade affects value dramatically: a coin worth $10 in Fine might be worth $100 in Mint State. Learn grading basics from books or online guides, or ask a dealer for an opinion.
- Check for wear on high points (cheek, hair, wreath).
- Look for scratches, cleaning, or damage.
- Compare to grading images on PCGS or NGC websites.
- When in doubt, assume a lower grade.
Step 3: Check Sold Prices
Use recent auction results, not asking prices. eBay 'sold listings' and Heritage Auctions archives are good free sources. Price guides like the 'Red Book' give retail values, but actual sale prices can vary by 20-50% or more. For common coins, values may be just a few dollars; for rare ones, thousands.
- Search eBay for your coin and filter by 'sold items'.
- Check Heritage Auctions or Stack's Bowers archives.
- Use PCGS or NGC price guides for graded coins.
- Consider a professional appraisal for coins worth over $100.
Common mistakes
- Assuming a coin is valuable just because it's old—many old coins are common and worth only face value or a few dollars.
- Cleaning a coin to make it shiny, which actually reduces its value by removing original surface.
- Relying on asking prices rather than actual sold prices, which can be much lower.
