How to Know What a Coin Is Worth

Determine how scarce the coin is. A coin that is scarce will be worth more than a coin that is abundant. Check with a mint department to determine how many coins like yours were made. For instance, if attempting to determine how scarce a particular U.S. coin is, http://www.usmint.gov is an excellent resource.

Look for a mint mark. Mint marks tell you where the coin was made. Depending on what the mint mark is, a coin will be more or less valuable than others. For instance, late 19th century dimes that have an "S" mint mark will add considerable value to a coin. Some coins lack mint marks. A U.S. coin that lacks a mint mark, for example, is a sign that the coin came from the Philadelphia mint at a time when coins were made without mint marks. This can also be a sign that the coin is valuable.

Check the condition of the coin. In numismatics, this is often referred to as grading the coin. The grade of a coin can often largely determine what the coin is worth. A coin can be quite rare, but have a poor grade and thus lose much of the value it would have had if it was in better condition.

Familiarize yourself with the various grade levels and their corresponding qualifications. The difference between "Very Fine (VF)" and "Extremely Fine (EF)" is minute, but this can be a significant factor in determining the value of a coin. Furthermore, being able to correctly determine the grade level of a coin yourself can give you leverage when attempting to sell a coin. It is not uncommon for a coin to be appraised and purchased below its actual value as this ensures that a dealer receives a higher profit when he resells the coin.