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How to Value a Coin

The first basic rule of coins is that they are worth whatever someone will pay you for them. Coin collectors want the coin for their own collection and will pay more than a dealer who is interested in what they can sell the coin for. Before you sell your coin, check multiple references and markets to get the most accurate value possible.

Things You'll Need

Coin magnifier (capable of 8x magnification)
Coin Grading Guide

Instructions

- 1
  Use a coin magnifier capable of 8x magnification to examine the coin for the date it was minted and any imperfections. Coins are graded on the Sheldon Scale. It runs from P-1 (Poor), meaning that the coin has a date and a mint mark, but is otherwise unidentifiable, to MS-70 (Mint State Perfect). MS-70 means there are no flaws, the design is sharp, and the coin retains its mint luster.
- 2
  Consult a coin grading guide to help determine the coin's rating on the Sheldon Scale. Such guides include books like "How to Grade U.S. Coins" by James L. Halperin, and websites like CoinResource.com.
- 3
  Find the mint mark. Located in different places on different coins, the mint mark is a small letter indicating the mint at which the coin was struck. Rare mint marks can increase the value of the coin. If you can't find the mint mark on your coin it was probably minted in Philadelphia.
- 4
  Check any local shops, coin shows, auctions, and online auctions sites like Bowers, eBay, Heritage, Merena, and Stacks to see how many coins like yours--or similar to yours--are being offered for sale.
- 5
  Check your coin for differences between it and the coins that are being sold. If your coin is a higher grade than what is on the market, or if it has a rarer mint mark, it's worth is at least as much, if not more, than the other coin.

Coin Collecting