When it comes to collecting and investing in rare coins, it is always important to find the best coins available on the market. This is because a wildly successful coin collection in based heavily upon the rare silver and gold coins that the collection contains. It is an important skill to be able to identify old coins so that coin collectors can only add valuable ones to their prized collections.
Some characteristics of old coins enable people to identify them more easily than others. If a rare coin includes the origin of what nation, especially the United States of America, it came from on it, along with its demonization and the year it was minted, a coin collector can easily establish its age, along with its value. If it came from a foreign country, one must be somewhat familiar with currency and numismatic jargon from other nations, such as pounds, francs, rubles, pesos or rupees. As a coin collector, you will gain more knowledge the longer you keep on collecting and educating yourself about coins, and will gradually pick up these different terminologies over time. You can also use different numismatic books, periodicals and websites to learn about coin and currency terms.
The items you will need when it comes to identifying the age of a coin include a magnifying glass and a magnet, as well as a quiet and well lit place to work that is free from outside distractions.
The very first thing that you will need to do is to find out what nation the coin was minted in. you can determine this by identifying the language on the front or back of the rare coin. While some coins from different countries are printed in English, other inscriptions will include what country it is in the coin’s native language.
Also check the date on the coin and if it is easy to read. You may have to use your magnifying glass to see it clearly. Take note if there are any other letters located beneath the date or anywhere else on the coin. If the date cannot be read, the coin’s value will significantly decrease and should not be purchased.
Scrutinize the images on the coin, including the profile or scene depicted on both sides of the rare coin. There may also be script included below the images which can provide you with more info on where and when the coin was minted.
Finding out what type of precious metal the coin includes is also critical when trying to establish how old the rare coin is. If the coin does include a significant amount of precious metal, this can greatly raise its price. Precious metals that rare coins may contain include silver, gold, brass and copper. Use your magnet to check is the coin has any of these precious metals in it.
If the rare coin has an inexpensive metal in it, such as zinc or tin, you will be unable to pick it up with your magnet. People can sometimes mistake cheap event coins, such as car wash tokens, bus tokens or even game tokens as expensive and rare coins. These tokens will not be attracted to your magnet.
Look up your coin on different numismatic websites or books, such as The World Coin Gallery website or “The Office Red Book,” written by R.S. Yeoman and Kenneth Bressett.
It is important for you to learn how to identify how old your coin is so that you can sell or trade it for a good price, and know that it is worthy to add to your collection.