Good wine are better with age.
And a good coin is likely to get more valuable with age,
too… if it is cared for correctly. Proper care of
you collection will protect your old coin values.
You can find out what your old coin’s value is by
looking it up in the Blue Book, which is a book of wholesale
values of US coins. If it’s not a US coin, there is
a Black Book that gives current values of world coins.
There are four main characteristics that give an old coin
value:
1. Condition
The most variable factor in determining an old coin’s
value is its condition. The Sheldon Scale is a 70-point
scale that coin dealers use to evaluate the condition of
a coin. Though it’s still a subjective evaluation,
but at least it is a guideline for determining the condition
and value—of an old coin. These range from mint condition
in which coins are in the best condition, and the worst
condition in which coins that are so worn you can’t
see the date or images.
2. Rarity and demand
The next importance characteristic is the coin’s rarity
and its demand. These factors are fixed characteristics.
If only a few coins were minted, or if a lot of people want
it, an old coin has more value.
3. Historical Value
Historical value is more individual, and your old coin may
have value only to people interested in that particular
historical era. For instance, Civil War buffs may place
a higher value on old coins from the Confederacy than others
will.
Tips On Protecting Your Coins
You can’t always control what condition an
old coin is in when you get it, but you can protect it so
that its condition doesn’t deteriorate while it’s
in your possession.
To maintain an old coin’s value, always handle it
by its edges. Never touch the surface of the coin with your
fingers. The oils and acids on human skin will corrode the
coin and decrease a coin’s value.
Don’t clean your coins. Cleaning exposes them to
chemicals and environmental substances that can corrode
them. Of course, if you dug the coin up out of the ground,
it is all right to wash the dirt off gently with soap and
water. But don’t polish your coin to make it nice
and shiny. That damages it. When in doubt, bring it to an
expert to have it clean up right.
Store your coins correctly. Coins should never be stored
in plastic or acidic paper envelopes or flips. The acid
in paper is corrosive, so if you put coins in an envelope,
make sure the envelope is made of acid-free paper. The PVC
in those little plastic flips will also corrode coins and
give them a greenish coating. Coins need to be protected
as much as possible from light, air, and temperature extremes.
Proper care is essential to retaining an old coin’s
value. Proper handling, no cleaning, and proper storage
will keep your old coin’s condition as good as possible.
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