Hobbies And Interests
Things You'll Need
Instructions
Determine the grade of the coin. Numismatists tend to grade coins between good (G-4) and choice uncirculated (MS-63) with several grades in between, including very good (VG-8), fine (F-12), very fine (F-20), extremely fine (VF-40), about uncirculated (AU-50) and uncirculated (MS-60). In general, a coin with no wear and a good luster will grade near the top end of the range while a coin with well-worn features and many contact marks will grade near the bottom. Use a guide such as "Whitman's Red Book" to determine the grade for an individual coin.
Use a price guide to determine the value. After you grade the coin look in a price guide to determine what your coin is worth. Prices for most coins do not fluctuate much from year to year unless they are made from a precious metal such as gold, whose value can rise and fall greatly based on the economy.
Look for rare error coins as you search your United States coins. Over the years, the U.S. Mint has produced coins with double dies--meaning they were stamped twice--or corrected dates, with one number stamper over another. A 1955 Lincoln penny with a double stamped date can be worth more than $1,200 in VF-20 condition, while a 1942 Mercury dime with a "1" stamped over the "2" in the last digit of the date is often valued at more than $500 in an F-12 grade.
Protect your most valuable coins. Invest in some cardboard sleeves with cellophane cutouts for the coins or snap-tight plastic holders. Fold the sleeve over the coin and staple it together to protect it. Place the coin in the harder plastic holder and snap it together to keep it in pristine condition.