Are Old Coins Worth More?

There are a number of factors that contribute to the value of coins in addition to its age. Amateur coin collectors are encouraged to seek the opinion of professional coin appraisers when it comes to determining a coin’s true value. Age alone does not determine the value of coins, as exemplified by many ancient Roman coins that are numerous and have relatively little value. The 70-point Sheldon Scale, with one being assigned to coins of little or no value and 70 being assigned to perfect mint condition coins, is the grading system used by the Professional Coin Grading Services and others.

Coins are valued based upon their historical significance, along with the rarity and age of the coin. For example, the 1804 silver dollar was minted with 1803 as the mint date. The only silver dollars with the mint date of 1804 were minted in 1834 and given as gifts to the King of Siam (now Thailand.) Rarity is especially significant to a coins value as exemplified by the 1933 Saint Gaudens Double Eagle coin that is valued near $7 million. There is only one specimen of the Saint Gaudens Double Eagle in existence today and it is the most expensive coin in the world.

Coins are valued according to their physical condition, with scratches and other blemishes degrading an otherwise valuable coin. The texture and luster of a coin is important to a coin’s appeal and, therefore, value. The bullion content of a coin affects its value, so the higher the silver or gold content in a coin adds to its value. Discoloration will either add or subtract to a coins value, depending upon the appeal that results from becoming discolored over time.