Are Old Coins Worth More?

You would think that the older the coin, the pricier it would be. Although it’s exciting to find old coins dating back 50 or 100 years, this does not necessarily make them more valuable. The rarity of a coin seems to be what determines the value of a coin. Of course, if the coin is in good condition that does make its value increase.

There are numerous books available with information about how to grade a coin and determine its condition and value. These books can also tell where it was minted and the composition of the coin. Sometimes a collector will pay a higher price for a specific coin simply because they need it to complete a series in their collection and not because of its actual value. This is bad news for someone who has found some old coins, maybe 50 to 100 years old, and is expecting to retire with the proceeds. However, it is good news for collectors who need these specific coins to complete their collection.

It is very difficult to evaluate coins from photographs. It is recommended to have a personal evaluation done by a reputable coin specialist. People with this specialty are called numismatists. The standard for judging a coins value was changed in 1965. Pryor to this date, a silver dollar, for instance, contained a dollar’s worth of silver and nickel. The older coins which then contained more precious metal than their newer counterparts were worth more than the newer minted coins. Since they were more valuable, these coins were then melted and sold for their unprocessed value. Hence came the term melted value. All in all, the value of a coin really comes down to supply and demand.