Different Types of Rare Coins and Where to Find Them

Filling up your coin collection with the rare coins is a bit difficult, especially for people who don’t know which ones to buy. Coins have been around for thousands of years and were the first forms of currency introduced in the ancient world. Over time, the designs, materials, and styles of coins have changed dramatically. For an ardent coin collector, it is important to find the right pieces to complete a collection. As a collector, you need to know what makes certain coins rarer than others, and you should also know which types of coins that you should always be on the lookout for. Here is some important information from experienced numismatists that you should be aware of when looking for rare coins.

 

The Demand

Most coins are generally worth their face value, especially those that are in circulation. However, some coins are valued at a much higher price than their face value. Just like in any other industry, the one major factor that determines the value of a coin is its demand. Older, rarer coins such as the 1944 Lincoln steel wheat penny will sell for a higher price than the 2007 Lincoln cent. The market demand for various coins constantly changes, so the first factor that determines rarity is the demand.

 

Grade

The coin's aesthetic condition also greatly impacts its market value. Coins generally have grades starting from 1 to 70; coins that are in the best possible condition usually have a grade closer to 70. Coins in mint condition usually have grades between 65 and 70, and you won’t have an issue in selling those mint sets off. The strike of a coin, which is the clarity of the design on the coin, also has a huge impact on its retail price.

 

Intrinsic Content

Another factor that determines a coin’s value is its material composition. Many coins minted before the Great Depression were made out of gold or silver, which means that they will obviously sell for a greater price than coins made out of bronze, steel, or copper.