Rare Coins Worth Money: A Quick Guide

Original article: https://bullionsharks.com/blog/rare-coins-worth-money/

One of the biggest joys of coin collecting is acquiring a rare coin worth money.

Coin collectors and numismatic enthusiasts see beyond the face value of coinage. When they look at rare classic coins, they see the opportunity to hold and preserve history.

What Makes a Coin Rare??

Several factors can contribute to a coin being harder to acquire than others. Factors such as a coin’s age, historical significance, scarcity, condition, and?minting errors can make it a rare coin worth money.

Rare Coins Due to Scarcity

Mintage plays a huge role in determining what rare coins are worth money. If only?a small number of a particular coin was minted, it’s more likely to be rare than a coin that was produced in large numbers.

Uncirculated Coins

A coin’s condition is another key factor that affects its rarity.?Uncirculated coins that are in excellent condition can be difficult to find, which makes them more valuable than those that are worn, scratched, or damaged.

Error Coins

The United States Mint does not make mistakes often. Therefore,?minting errors are relatively rare. Coins that were produced with design flaws or incorrect dates are considered rare and worth money.

Ancient Coins

Ancient coins are extra rare because of their age. Old coins have had more time to become lost, damaged, or destroyed while in circulation or wherever they were being preserved. Ancient coins also had more precious metal content compared to modern coins, as well as incredible historical value. So, their composition as well as condition make them rare and worth money.

Coins Made From Precious Metals

Coins with a high silver or?gold metal content tend to be rare because of their melt value. At different times throughout history, the spot price of precious metals has gone up in value, which has made melting coins for bullion more desirable.

What Are the Rarest Coins Worth Money?

As we all know, the?rarest coins in the world are typically worth the most money.

A large number of rare coins are not available to the public because they’re housed in museums or other private coin collections. Rare coinage sold in auctions can see their values skyrocket as coin collectors compete against each other for that next “perfect piece.”

Let’s take a closer look at some of the rarest coins worth money in the world:

The 1933 Double Eagle

Image credit:?PCGS

The 1933 Double Eagle gold coin is undoubtedly one of the rarest U.S. coins, as the last gold currency struck in the United States.

Almost 500,000 of these $20 gold pieces were minted in 1933. However, they were recalled by President Roosevelt in 1934. A small number of these rare coins escaped the Mint’s vault, even though they were never officially issued.

One of these rare gold coins set a record as the?world’s most valuable coin, selling for an astounding $18.9 million.

The 1794 Flowing Hair?Silver Dollar

Image credit: PCGS

The 1794?Flowing Hair Silver Dollar is a famous numismatic rarity in all grades. With a mintage of just 1,758 pieces, this rare old coin is legendary among coin collectors.

This stunning coin was minted just two years after the U.S. Mint first opened. It’s believed there are only around 130 known examples still in existence.

In January 2013, a 1794 Flowing Hair Silver Dollar graded PCGS SP66 sold at a Stack’s Bowers auction for a record price of $10,016,875. This was the first coin to ever sell at an auction for more than $10 million.

The 1787 Brasher Doubloon

Image credit: PCGS

Another rare coin worth money is not even an official piece of US currency! This coin was produced before the United States Mint had begun operations. In fact, it’s rumored to be the first gold coin minted in the United States.

It was minted by silversmith Ephraim Brasher. He was a prominent citizen of New York who submitted a proposal to mint copper coinage for the state. Although the state decided not to begin minting coins, Brasher still pressed forward and produced a few gold coins known as the Brasher?Doubloons.

There are only seven known examples of this coin still in existence. One of them sold for $7.4 million by Blanchard & Co. in 2011, making it the third highest-priced U.S. coin.

The 1913 Liberty Nickel

Image credit: PCGS

There are only five known examples of the 1913?Liberty Head nickel, making it one of the most well-known numismatic rarities. This is a? somewhat controversial rare coin worth money in that none of these five-cent coins struck in 1913 were authorized.

The 1913 Liberty Nickel has been setting records for many years, the latest being the Eliasberg specimen, graded PCGS PF66, which sold for $4.5 million in 2018.

The 723 Umayyad Gold Dinar

Image credit: Morton & Eden

This is an extremely?old and rare coin that is rich in historical significance. The 723 Umayyad Gold Dinar features an inscription in Arabic, the first coin to mention a location in the Kingdom of Saudi Arabia.

It’s not only one of the rarest Islamic gold coins: It’s believed to be one of the most expensive world coins ever sold at an auction.

The 1343 Edward III Florin

Image credit: OpenSea

The 1343 Edward III Florin is a silver coin that was minted during the reign of King Edward III of England. It circulated throughout medieval England and is considered one of the oldest and rarest coins in the world.

This coin is sometimes referred to as the Double Leopard. Only three examples are known to exist, with one selling for $6 million in 2006.

How Can You Tell If a Coin Is Authentic?

There are several ways you can verify if a?rare coin is authentic. Start by researching the size and dimensions the coin should be. Look closely for any design elements that are out of the ordinary.

The most common way that everyday coin collectors check a coin’s authenticity is the sound it makes on a hard surface and whether or not it’s magnetic.

Talk to a Numismatist

If you want to confirm that a particular coin is authentic, you can try?consulting with a numismatist. Numismatic experts are terrific resources because they have a true passion for all things related to coinage and their different characteristics, and can without a doubt tell you if your rare coin is worth money.?

Do Your Research Online

You can find a plethora of information online about a coin’s design specifications, mint marks, and other details. Use a trusted resource such as the official site of the United States Mint, the American Numismatic Association (ANA), or our detailed coin guides we have?available here at Bullion Shark.

Buy From an Authentic Coin Dealer

When buying or selling rare coins worth money, it’s imperative to use an?authentic coin dealer you can trust. Not all coin dealers are created equal.

The vast majority of coin dealers are doing the right thing so they can ensure future business. However, there are always a few bad apples in every genre of business.

Researching coin dealers to confirm they have a good transaction history is critical. Most of the larger coin dealers belong to organizations, such as the Professional Numismatists Guild, that require them to subscribe to a Code of Ethics.

Have the Coin Professionally Graded

If you've done your due diligence and believe you have a rare coin worth money, it would be wise to have it?professionally graded. In most cases, having a coin certified will make it more desirable and valuable because future buyers can be confident in its authenticity.

Start Your Coin Collection Today

If you enjoy learning about the most expensive coins, you can get started on your own coin collection today.

At Bullion Shark, we have Buffalo nickels, Washington quarters, and other valuable pennies that are perfect for any coin collection.

Sources:

The World’s Most Valuable Coin Sells at Auction for $18.9 Million | Smithsonian Magazine

1794 $1 (Special Strike) Flowing Hair Dollar | PCGS CoinFacts.

Brasher doubloon brings nearly $7.4 million | Coin World

1913 Liberty Head Nickel. Proof-66 (PCGS). CAC., PR66 | PCGS

The Most Expensive Islamic Coin | CoinsWeekly