For new coin collectors, price tags on individual pieces may seem unpredictable or even arbitrary. However, a number of factors go into determining coin value, and dealers put plenty of thought into choosing the right number. To learn more about what influences the value of gold and silver coins and where you can find trustworthy resources, take advantage of the following guide. 

What Factors Affect a Coin’s Value?

First, appraisers will consider the metal the coin is made out of. For example, gold is worth more than silver, while both are valued higher than nickel and copper.

Beyond their melt value, appraisers consider the number of coins in existence, or the rarity of that particular piece of currency. The fewer there are, the more expensive the coin will be. Similarly, appraisers will consider demand—the more coin collectors that want one, the higher the price can be set.

While coins of the same type all have similar values, factors can affect individual pieces. For example, if two pennies were made at the same mint in the same year, but one features a rare die error, it will be valued higher.

The coin’s condition and whether it has been altered over time also matters. Coins in good condition that have retained their natural patina will be worth more than those someone tried to scrub clean.

Where Can You Find Value Information?

To find out the exact value of a coin in your collection, you will need to visit a qualified appraiser. An excellent mark of knowledge is a long-standing PNG membership, or involvement in the Professional Numismatic Guild.

However, if you are looking for a ballpark figure while you wait to speak with an expert, you can peruse online resources. Search for your coin on the PCGS Price Guide or scan authentic auction sites to see what it has sold for in the past.

To find out what your coins are truly worth, visit Coins Plus of Cincinnati, OH. They are known as the city’s only "National Award Winning and PNG Dealer,” so you can trust their appraisals will be fair and accurate. They have served local coin collectors since 1972, and one of their partners is a regular contributor to the Redbook and Bluebook. Learn more about their appraisal services online, or call (513) 621-1996 to chat with a coin expert.