Many people collect coins as a hobby. Then there are those who just save one or two random coins they think look interesting. If you have any old coins, you may eventually want to know what they are worth. Despite how many types and years of coins there are, it can be quite easy to find out if your coin is worth something.
- Skill level:
Examine your coin. Before you even start researching, it is important to know exactly what you have. Dust off your coin, but never put it in any type of solution to clean it further. Write down the year, the wording, a description of the image on the coin and any other possible information. Take a close picture of the front and back, as some people may be able to help you more if they can actually see what the coin looks like.
Look through "The Official Red Book: A Guide Book of United States Coins" by R. S. Yeoman. This year marks the 62nd edition of the book. It is filled with hundreds of pages and gives you up-to-date information on how much your coin is really worth. You can purchase this book at a bookstore or borrow it from your local library.
Speak to a coin dealer. There are coin dealers with stores in almost every area. They can give you an estimate of how much your coin is worth and may even make an offer to buy it from you. Make sure you do your own research before you go to ensure that the person is not trying to scam you.
Post your question on a coin forum. Coin forums have enthusiasts and experts that can give you information on what you have. You may want to post your question and description on several forums in order to get information from various sources.
Tips and warnings
- Whatever information you receive regarding your coin, print the information out to keep for reference. It is also helpful in case someone tries to buy it from you for much less than what the coin is actually worth. After you have your information, you can get a rough estimate of what your coin is worth. While all the opinions may not be the same, you will be able to get a roundabout dollar amount and, if nothing else, a great history lesson about your coin.