Collecting Coins and Knowing The Value of Rare Coins
Coin collecting is a hobby enjoyed by numerous people. Those who like to collect rare coins and other forms of minted legal tender are called numismatists, and they usually acquire their coins from the National Collector’s Mint. This company has garnered respect worldwide due the high quality metal it uses to produce coins and commemoratives.
Coins are classified as rare when they have circulated for a brief time only or if they have mint errors. Uniquely beautiful coins and pieces that have historic significance are also classified as rare coins. If you have started to collect coins recently, but are not sure of rare coins value, you should find out what they are worth.
Knowing how much your coins are worth will give you an accurate picture of the value of your entire collection. It is important to know your rare coins value even though you do not have any intention of selling them. Finding out the value of your coin collection will keep you informed; thus, letting you store and care for them in the appropriate manner.
In order for you to know the a coins value, you should examine your coins and determine their condition. Coins are actually graded on a 70 to 0 scale, with 70 being the highest and 0 being the lowest. 70 is given to coins that are in pristine condition while 0 is given to coins in bad condition.
You should realize that the value of rare coins can depend on a variety of factors; and one of these is the amount of surface wear. You can use a magnifying glass to check out the back and front surfaces of the coins. You should pay attention to the mint stamp and date on the coins if they are visible.
After you have examined the coins, you should compare them to the available samples. You can check out photos of coins of different grades. Rare coins value can be poor, fair, about good, good, very good, fine, very fine, extremely fine, almost uncirculated, and mint state. If you still cannot determine the condition of the coins, you can have them appraised by a professional.
At present, the coin with the highest value at twenty million dollars is the 1849 Double Eagle. This extremely rare coin was created by the United States Mint in Philadelphia during the beginning of the California gold rush. The very first 1849 Double Eagle is currently displayed at the Smithsonian Institute’s National Numismatic Collection.
The next most valuable coin is the 1877 Half Union. It currently has a rare coin value of fifteen million dollars. The Smithsonian actually holds two kinds of this coin. One of them has the pattern of J-1548 and the other one has the pattern of J-1546. The 1877 Half Union was initially released in denominations of fifty dollars, and it has an estimated grade of Proof 67.
Another very valuable coin is the 1933 Double Eagle. It is worth $7.59 million, and was produced and discontinued in 1933. There were four hundred and forty five thousand and five hundred Double Eagle coins but all of them were never circulated. The government had every one of them melted down. Some pieces have been saved, though.
Valued at six million dollars, the 1822 Half Eagle is also one of the rarest and most expensive coins in the world. It was initially released in five-dollar denominations, and currently has an estimated grade of Extremely Fine 45. At present, there are only three pieces of this coin and two of them are in the Smithsonian collection.
The 1794 Silver Dollar, which values at $7.85 million, is believed to be the United States Mint’s first silver dollar. It is also popularly referred to as the Flowing Hair dollar because its design features the side profile of Lady Liberty with her hair flowing back behind her. It is extremely rare, and is owned by a private collector.
There are actually plenty of other valuable coins you can collect if money is not a problem for you and you have lots of resources. Owning some of the rarest coins in the world can give you a great feeling. After all, these coins are part of history. You can even pass on your coin collection to your children and grandchildren like a legacy. If you like this information on coin collecting that you should visit AmericanCoinValues.net they have a great deal of info on numismatics.
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