Hobbies And Interests
Determination of Coin Values
There are five main categories that determine a coin's worth; condition, rarity, supply, demand and age. The condition of a coin is determined using a 70-point grading system. This grading system helps to determine if the coin has been circulated and touched by many hands, or is in "proof" condition. The rarity of a coin is determined by how many of those specific coins were made and how many have survived throughout time. Supply is simply how popular that specific coin is. The more people that want the coin, the more it is worth. Demand runs hand in hand with supply in that it is determined by how many coins are available. If 1,000 people want 1,200 coins, then those coins will not be worth much. However, if 8 million people want three coins, then those three coins still get top dollar. The last category is age, and believe it or not, it is not important. Age can come into play depending on the other four categories. If the coin has a determined worth because of the other categories, then age may make it worth a little more.
Proper Handling of Coins
The most minuscule scratch can diminish the worth of a coin. If you have a coin appraised by an expert, you can count on him using a magnifying glass to find the slightest flaw. Here are a few pointers to avoid scratches, daylight or moisture.
Wash your hands before handling the coin. The oils from your hands can cause a chemical reaction and can damage the coin. Also for this reason only hold the coin on the thin sides. Never hold it in a way that your fingerprints can cover the surface of the coin. If need be, wear gloves to help prevent this. Do not have food or drinks around the coin. Even just a particle of salt can damage your coin greatly. Wear a mask if you're a mouth breather. I know this sounds weird, but the moisture from your mouth is damaging to the coin. If you are a nose breather, then this is not necessary. Keep the coin in a dark place to avoid light.