Coin collecting is a popular hobby that can pay off in the long run. Many old coins earn high prices from coin dealers. Whether you plan on selling your coins or simply keeping them on display, you may be curious about the value of your old coins. There are a few steps you can take to find out the true value of your coins, and make sure you don't get ripped off when you decide to sell them.
Indetifying coins online
Online guides are a free way to identify and find the value of your coins. Start your search by clicking the type of coin you have, such as a penny, silver dollar or half-dollar. From there, read the description of the coin and match the year and condition your coin is in with the chart on the page. Keep in mind that these charts are only estimates, and you may be offered less for the coin by a dealer. See the Resource Section below for links to websites that price coins.
U.S. Coins Book
"A Guide Book of United States Coins" publishes a yearly pricing guide for coins. This book provides reliable estimates of how much a coin is worth. As with the online guide, the prices are only estimates and may not be the exact price you'll receive if you sell your coin. Search the "Contents" page for the type of coin you wish to price. When you find the right category, such as "Half Cents" or "Double Eagles", turn to that page. A picture of each coin is shown, with a description. The chart lists each make of the coin. Start by identifying your coin, and finding the year and model from the chart. The columns have symbols above them which often stand for what condition the coin is in. The key for these abbreviations is listed at the beginning of the book under the "How to Use This Book" section, and special abbreviations are listed at the beginning of each section they are found in.
Finding a Coin Dealer
A professional coin dealer can determine the value of a coin for you. The problem with coin dealers is finding a reputable source that won't cheat you. It is always a good idea to have an idea of what your coin is worth before you attempt to sell it. If you have had no luck after checking online or a coin guide book, try contacting a professional dealer. A list of professional dealers can be found in the Resources section. This list is from the Professional Coin Grading Service's website. When you find a dealer you'd like to take your coins to, search for their company with the Better Business Bureau. This link can also be found in the Resources section. The Better Business Bureau will provide a rating of how good the business it, and keep a list of customer complaints. Look for a business with few complaints and a high rating. If you know any other coin collectors, ask them which dealers they've had the most luck with.