Does Age Determine a Coin's Worth

Many people believe that because a coin is old in terms of its date of origin that it is worth more. But many factors determine the value of a coin. For example, the supply of a specific coin often time determines its value. Two examples come to mind; first the 1913 Liberty Head Nickel is valued at over five million dollars because it is believed that only five exist. Second, is the very rare and highly valuable 1955 doubled-die cent. The value of even the most worn of these coins is now approaching $1,000, because of the limited number these coins have great worth. On the other hand, many coins are so numerous that they are almost valueless.

Another important factor in determining the worth of a coin would be the demand for that specific coin. If there is no demand, then the coin will not be worth much. Furthermore, even if the demand is there, a coin in poor condition will not be as valuable as a coin in excellent condition, which is why many collectors protect their coin collections. For some, the worth of a coin is attached to the fact that it is part of a series, such as United States coins. In that case, condition plays a significant role in the value of a coin, even for mint-state coins. An un-circulated coin that is absolutely flawless under magnification might be worth far more than one which is un-circulated, but shows damage of any sort (e.g. holes, edge dents, repairs, cleaning, re-engraving or gouges) can substantially reduce the value of a coin.