The 1804 silver dollar is worth around $10.1 million. There are about four other coins valued above $5 million. There are plenty of other coins worth millions if not hundreds of thousands. What makes them so special? How can you make sure that you are holding on to these kinds of coins for the future? While it is hard to say that the quarter in your pocket right now will ever be worth anything more than a quarter, there are plenty of other ways that you can determine whether a coin is a collectible coin or not.
There are some definite signs you should look for when you are trying to find out if you should collect a coin or not. First of all, a collectible coin will not be something that you see every day. Another way that a coin becomes instantly collectible is when it is not distributed to the public. Better still is when you find coins which come from a unique background which has caused it to be rare in the common day. Remember, the better the condition that these coins are in now, the better the chance you have that they will be worth something in the future.
Seldom Seen Coins
Something like the Wheat Penny is something which is still circulated and as such does not have any real value. When you take into consideration how often you see one of these, you will get the idea that this is something that you should hold on to when you find one. Many people will pay attention to the U.S. Mint to find out when they are pulling certain coins from circulation. They seize the opportunity to get as many of the coins as they can before they disappear.
Undistributed Coins
There are some coins which are never supposed to see the light of day. These coins may have been struck incorrectly. They may have also have been intended simply as commemorative coins. Remember that not every collectible coin will increase in value like you hope to. In fact, some of the commemorative coins actually decreased in value because they were simply not popular with the coin collecting crowd. This might have been for the art or it might simply have been that it was a recreation of another coin which was more valuable as the original.
Rare Coins
Coins can become rare because of circumstances. They can also become rare because they were not treasured by those who used them every day. Something like the Morgan Silver Dollar was despised by those who carried it every day as legal tender. Today, that same collectible coin is highly sought after because it is rare to find. Those who had them did not want them and could not wait to turn them in so that they could get the easier to carry paper currency. Remarkably, the paper currency is not nearly as valuable in the modern age of collectibles.
Photo Credits: Navarr
Originally posted 2010-09-06 09:37:11. Republished by Blog Post Promoter
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