People have been collecting coins for a very long long time. It is considered to be the earliest hobby in the world!
Let’s take a trip “Back in the Future” to a period in the event the Romans ruled the recognized world. One of Rome’s famous emperors, Caesar Augustus, gathered coins of all types. Old gold coins, silver coins and foreign coins from over and above his rule. In fact, he prized his coins so much he often gave them away as gifts!
Of these eras individuals gathered coins for various reasons. Perhaps it was because the coin was ancient? Possibly it had been because the coin was from a different land? Maybe they obtained all the coins that have been produced in their area throughout their lifetime.
A good example will be a collection of 70 odd coins excavated and dated to the Roman period. Not one coin was exactly the same which leaves experts to think the individual collected each different coin that was created throughout the Roman rule of that town.
What ever the reason they gathered the coins… It was not for which the coin might be worth as as a collectible coin. Nope. The value of a coin long ago was particular – it’s weight in gold or silver.
Sure, they loved their coins even as we do these days, but in the past they weren’t as refined in their collecting coins as we are right now. These days we have some guidelines in which we confirm a coin’s value… A value beyond the personal value we put on the coin. A value beyond the coins weight in precious metal. This is a price of the particular worth of the coin.
Look at this example. You come with an American Silver Eagle coin. You want to find out it’s value. The spot expense of silver may be $35. Consequently, you realize it’s value at least that! But, your silver is within the form of a bullion coin… So, you receive a small premium on that. Right now your Silver Eagle will be worth around $45 to $50.
What about other factors? The rim is great. There are no apparent nor hairline marks on the obverse or reverse. The coin has a perfect strike, and has never been dealt with by human palms. It’s regarded as a Brilliant Uncirculated coin. But it’s a lot better than BU! It’s graded.
Now gets into certified coins. This is really a modern day invention. Almost, a certified coin by a reputable company helps coin lovers to add a value of worth to their valued coins.
There are amount of reputable companies out there that will bring your coin and approve it authentic and give it a level. The greatest grade a coin will get is MS70.
Therefore, while using instance above: You are taking your Brilliant Uncirculated American Silver Eagle and also you send it to a organization just like PCGS. PCGS takes your coin and provides it a grade. Let’s say your grade was MS70 – fantastic.
Now, that gives you some power if you are able to sell the coin. Figuring out it’s spot silver price, it’s rarity (how many were minted plus in circulation), and it’s certified grade… You will be ready to connect a worldly monetary value to your coin.
Offering coins could be a difficult job, but certified coins tend to be much easier to sell. How come? Simply because those believe in grading companies like PCGS. And you are able to approve just about any kind of coin: uncirculated coins, bullion coins, commemorative coins, ancient coins and the like.