The most expensive coin ever sold was worth over $10 million. But it’s not the only valuable coin out there. There are many coins out there that you can collect and earn money with.
Read on for how to start a valuable coin collection.
Examination
Before you collect coins, look at them from every angle using natural light. Make sure there are no signs of damage or wear and tear, such as scratches or cracks in the metal. Examine their rims and see if they’ve been shaved down to make them look more valuable than they actually are.
If you’re just getting started, you’ll want to buy coins that are in good condition.
A coin’s grade is a numeric value based on how much wear and tear it has suffered over the years. The higher the number, the better the quality. For example, an uncirculated coin with a grade of 40 or higher would be considered very nice.
Mint Marks
Mint marks designate the mint that produced a coin. This is valuable information when you’re collecting coins because it helps you determine if your coin is authentic. If a coin is counterfeit, it won’t have the correct mint mark or it may be missing some information altogether.
You can find mint marks on either side of the coin, usually near the date. On rare occasions, they may span across several letters or symbols and split across both sides of the coin.
Start With a Half Dollar
If you’re looking for an affordable way to start coin collecting, look no further than the half dollar. The half dollar is a United States coin minted from 1794 to 1947. These coins are easy to find, with the 1964 half dollar being the most common.
And because they’re so common, they’re also inexpensive. You might be able to find several of these coins for a few hundred dollars.
Find Out How Much the Coin Is Worth
A coin collection guide is a book written by experts on a particular coin. These books will tell you how rare a coin is, its history, and other interesting facts about it. It also lists prices for the coin based on condition, metal type, and where it was minted.
You can also use an online coin value calculator. They’re not the most accurate, but they can give you a general idea of what your coin is worth.
Coin value calculators let you add details about a particular coin, such as its condition rating and metal type. Then, the calculator spits out an estimated price based on those inputs along with current market trends, like supply and demand ratios.
Build Your Coin Collection
The most important thing about starting a coin collection is to have fun. If you take your time and do the research, you’ll be able to build an impressive collection that will earn you a lot of money down the line.
Explore our investment section for even more opportunities to make money.
