Hobbies And Interests
Grades
Numismatists have a grading system for coins that runs from About Good, or AG-3, to perfect Mint State, MS-70. The longer a coin has been in circulation, the more its features tend to become worn. The better the grade, the higher the value.
Mintage
Coins that were produced in smaller quantities are worth more than common issues. A good example is the 1794 dollar coin. It was the first of its kind, and less than 2,000 were produced. The coin brings about $30,000, even in the poorest conditions.
Mint Marks
Over the years, certain mints produced fewer of some types of coins than other mint locations. The mint mark is usually one or two letters on the front or reverse of the coin, such as "D" for Denver or "CC" for Carson City. One example is the 1861 Half Eagle $5 gold coin. Nearly 700,000 were minted in Philadelphia, and those coins in very fine condition tend to sell for $200. Less than 2,000 were produced at the Denver mint that same year, and they can bring $7,000 in the same condition.
Composition
Coins also have certain values based on their metal composition. The U.S. Mint hasn't made gold coins for general circulation since 1933, when the metal became too expensive. It hasn't made general-circulation silver coins since 1964. Older gold and silver coins from early U.S. history are worth more for this reason.
Errors
Some coins have errors such as mis-strikes that make them valuable. A prime example is the 1955 Lincoln penny. Some versions have the date double stamped on the front. This extremely rare error can sell for $3,000 and higher in uncirculated conditions.