Collectors and investors alike choose to purchase gold coins. They are like a piece of history that boasts the beauty of a country and tends to hold its value over time. Traditionally, rare gold coins have a higher value than those which are unremarkable and easily accessible. It can sometimes be difficult to know if you have a truly rare coin without having it professionally graded by a third-party service. The most popular grading services are the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC).
When they grade a coin, they include it in Population Reports that track coins’ value and scarcity. The Population Reports help determine the quality of a coin compared to similar ones as well as whether a coin is Common, Semi-Rare, or Rare. They help keep track of collectible and investment coinage. Here is a helpful guide to assessing rare gold coins you may come across going forward, but you should probably still have them graded by an independent third party.
How Coins are Graded
There are multiple factors that go into a coin’s grade when a professional third party looks at it and assigns a value. They look at the strike of the coin along with its overall quality. The strike clarity and an accidental double strike directly impact a coin’s value. How well a coin has been preserved will also affect its value. Circulating coins typically degrade them because they collect small impurities and lose luster during the handling process. A coin’s color and luster are also considered when a grade is provided.
Why Get Coins Graded
Getting coins graded helps authenticate them as true government issues. It also helps preserve their value by ensuring they are not counterfeit replicas of the genuine article. Coins are assigned a serial number or barcode when they are graded, which can help you prove ownership if they are lost or stolen. Graded coins are also included in population reports and sealed in a protective case after being assigned a value, which helps protect the coin from damage.
How to Tell if You Have a Rare Coin
The easiest way to tell if you have a rare coin without getting it graded is to check the mint mark, die rotation, and date. The older a coin is, the rarer it likely is. Many times, the date or mint mark may be re-punched or over-punched, creating a rarity. It is important to inspect coins when they are clean and pay special attention to any rarities. The die rotation should also be even on both sides of the coin, matching up when you flip the coin over. Odd die rotations can also indicate a rare coin.
Call an Authorized Dealer
If you have rare gold coins in your collection, call a reputable and trusted dealer today. An established dealer can help you determine exactly how much your rare coin is worth and if you should consider having it professionally graded to protect its value. Look at the coin’s mint mark, date, and die rotation closely and set aside any oddities. Then call a trusted authorized dealer who can help you determine the best next steps for dealing with your rare gold coins.