Coin value: How do I know what my coins are worth?
Over the years, almost everyone has put together a collection of old, foreign or found coins in some drawer, and sometimes you can find a box of old coins in the grandparents attic. One is then quickly curious to see if there is not perhaps one of greater value among the coins. But how do you find out quickly and easily whether the coin is worth something?
The valuation of older coins
The coinage of very old coins is sometimes not easy at all, because the coinage is often worn out or the coin is in a bad condition due to corrosion. However, if you can find dates with a magnifying glass, often also in Latin numerals, or references to a king or prince, this helps with the age estimation, which can be a first indication of the value. In addition, the material can also be valuable because many old coins were made of silver or gold. More detailed information about the value of such coins can be found in museums, for example, where you can also find current coin catalogues.
Coin rating for newer coins
Age is only one possible factor in determining the coin value. Another factor, especially for the coin trade among collectors, is the rarity of the coin. For example, many DM coins, but also some euro coins can already be worth many times their coin value on the collector's market. This applies in particular to incorrect embossing, of which there are often only individual specimens that are traded at a correspondingly high price. Incorrect embossing of this kind is caused by errors in the production process and is relatively easy to recognize, as the embossing is mirror-inverted or incomplete, for example. Even special coins, which are minted in limited editions, often quickly increase in value: you can find the current price in catalogues, as well as for the incorrect minting. This price depends not only on the rarity but also on how much collectors want the coin.
What can I do with valuable coins?
Once you have found a coin that seems to be valuable, you can either keep it and wait for further appreciation or sell it. Collector coins and other current coins can be bought and sold in many banks, for example. For older coins in particular, however, it is also possible to contact coin dealers who are also a point of contact for collectors. If you know the value of the coin, you can sell it directly to collectors in an online auction, for example.