Coin Identification

SEARCH

When buying or selling coins, identifying the coin is the first and most important consideration.

While coin identification is a very significant aspect of coin selling, it must be combined with other equally important factors that play a critical role in the identification process and, ultimately, the overall success of the activity.

For a better view and understanding, click on any of the links below to view finer details of consideration.

How well you have stored your coin and how well you have cleaned it eventually determines how high it will be graded and valued.

Identifying a coin is crucial because it determines whether you are engaging in a meaningful and successful activity.

It is crucial to verify the validity or authenticity of a coin to properly gauge its marketability and, yes, its value too.

How To Identify Valid Coins :-

Once you have acquired a coin of interest, the steps shown below are recommended to assist you in identifying and assessing the validity and authenticity of your coin and whether it meets the threshold of being eligible for immediate payment.

1. Confirm Denomination: A coin normally has its face value indicated on it. These can be used to distinguish a coin of interest.
2. Confirm Date: The date indicated on a coin is a point of consideration, as it enables you to zero in on a coin of interest. Note that some coins may use a different calendar system for dating, e.g., the Islamic or Orthodox calendar.
3. Note The Shape: Coins are minted in different shapes depending on their creators’ tastes. These shapes can be used to zero in on a particular coin of interest.
4. Note The Size: Knowing a coin’s diameter, thickness, or weight can be crucial.
5. Confirm Colour: These can be a great indicator of a coin’s metallic composition, though it is not an absolute determinant of its content. Colour may be used together with other techniques to establish the authenticity of a particular coin of interest.
6. Image On The Coin: These can be used to identify the origin, age, or the ruler in power under whom it was minted. Also, the coin’s image can be used to identify the socio-economic activities of the community in which it circulated.
7. Inscriptions On The Coin: These are the observable writings on a coin and can be a great pointer to a valid coin. These can also be a pointer to the language of the society in which the coin circulated.
8. Mint Mark: Some coin creators usually placed a special mark on their coins as a sign of prestige and ownership. These marks are at times cleverly hidden on the coin, so you may require prior knowledge to identify and spot the mark.
9. Reference Catalogue:  Established coin collectors and enthusiasts have gone an extra mile and created coin catalogues, coin identification apps, and a wide range of references, from which this information can be used to identify a coin of interest.
10. Ask An Expert: After considering all the above points, you may still be unable to fully pinpoint a coin’s validity. You may need to consult experienced coin collectors and coin dealers for expert opinion and advice.

Once all these factors of Coin Identification have been taken into account and have been fully exhausted, then you are assured of selling a coin that has a great potential of earning big money in the coin market.

Identifying a coin of interest is crucial to coin selling.

Interestingly, it is just a small fraction of the whole journey of buying and selling coins.

Coin Cleaning :-

Coins originate from extremely different backgrounds and regions.

Apart from that, they also experience a wide range of environmental conditions and situations during their day-to-day circulation.

Whether you are an amateur, an experienced coin seller or even a scholar, one way or the other, you will definitely come across a coin that is not so appealing to the eye due to its dirty-looking surface.

You will definitely, eventually, reach a point where you consider how to clean and remove dirt or grime from your coin.

If you need your coins to be always good looking, then the best form of cleaning is by protecting them from the need of being cleaned.

These can be achieved by exercising good coin handling practices, which, if properly taken into account, can be of great assistance regardless of the type of coins you are dealing with.

Take your time and check out our professional cleaning guide as outlined below.

How To Handle Coins :-

The way you handle your coins will greatly impact and determine their eventual appearance and eye appeal, which will, in turn, better position them in the coin market.

• Coin Handling: Always handle coins between your index finger and thumb. This ensures you don’t transfer your body fat, sweat or prints onto the coin.
• Use Gloves: Soft cotton or latex gloves are a great idea when handling coins.
• Get A Mask: Talking while handling coins may expose them to your saliva droplets, which contain chemicals that can harm them. A mask may come in handy to save the situation.
• Soft Cotton Cloth: This acts as a soft pad that cushions coins from hitting each other and during accidental falls.
• Keep Foods And Drinks Away: When handling coins, always keep them away from foodstuffs and drinks, as droplets from them may interfere with a coin’s surface.

Coins with some kind of tarnish are highly appreciated as an indicator of age and authenticity. So be aware that cleaning coins may wash away their value.

Although you should never clean your coins, since cleaning devalues them, there comes a time when you may need to clean them.

Below are some basics that can help you in doing it properly and effectively.

Procedure Of Cleaning Coins :-

1. Start by assembling all your cleaning materials to avoid moving around once you start, so the process is continuous from start to finish.
2. Wash your hands thoroughly with soap to ensure they are clean. You can opt to use latex gloves for the best results.
3. Place a soft towel around your cleaning area to serve as a soft landing and drying spot.
4. Prepare a foamy soapy bath by filling a plastic container with warm water.
5. Squeeze a proportional amount of mild dish detergent. Avoid using glass or metallic containers to minimise dents or scratches on the coins.
6. Prepare the final rinse using another plastic container filled with distilled water, which is best for this step. Normal water contains fluoride, which may affect the coin’s surface.
7. Start cleaning your coins one by one to prevent them from knocking against each other.
8. Gently rub the coin with your fingers. You may use a very soft brush to avoid scratching the coin’s surface.
9. Rinse your coin thoroughly with running water until no soap residue remains on its surface.
10. Complete the final rinse with the distilled water previously prepared. These will remove any chemicals present in normal water and soap.
11. Soak the cleaned coin in a vinegar or lemon juice sitz bath for about an hour.
12. Complete the process by carefully drying the coin with the soft towel until it is completely dry.
13. Repeat the full process and steps for all the other coins.
14. Store the coins safely in a cool, dry place to prevent them from developing moisture.

It is never time for cleaning your coins. No matter how dirty, worn out or tarnished they are, the filth is part of their beauty and market value.

Depending on a coin’s metal composition, cleaning techniques may vary because different metals respond differently to cleaning agents.

Below are some crucial metal-specific cleaning tips.

• Copper Coins: Combine a tablespoon of salt and vinegar to make a thick paste. Apply the paste to the coin and allow a short time before rinsing it.
• Bronze Coins: Substitute the soapy water with commercial olive oil. Carefully and lightly wash the coin.
• Silver Coins: Soak the coin in lemon juice before drying to keep it looking fresh and shiny.
• Gold Coins: Only use warm, soapy distilled water, then dry the coin with a gold cleaning cloth.

Various cleaning techniques can be employed to address different types and forms of grime.

It is beneficial to know how to properly clean different types of coin stains to avoid causing further harm to your coins.

Types Of Coin Stains :-

Take into account the tips below, depending on the type of stain you are trying to remove.

• Lacquer: This is a loose, unnatural covering on a coin’s surface. Use a prolonged sitz bath of acetone or alcohol to remove these unwanted coverings from a coin.
• PVC Film:  Polyvinyl chloride (PVC) is a plastic-like material that can occur on a coin’s surface. To clean this type of grime, soak the coin in acetone for twelve hours.
• Tarnish: This is a form of corrosion resulting from exposure to moisture and usually causes dullness or loss of brightness on a coin. Be careful when handling this type of stain. Never use an abrasive cleaner. Use a mild dish detergent mixed with salt and vinegar. Rub gently with an extremely soft brush to avoid making hairlines on your coin.
• Dirt: If your coin has excessive dirt, soak it in olive oil, vinegar, or natural lemon juice for a considerable period, then use a soft brush to gently wash it off.

Always carefully check your coin to confirm the type of stain on its surface so you can properly determine how to clean it.

Coin Cleaning Accessories :-

A serious coin seller wishing to clean their coins may be at an advantage to always have various cleaning agents and accessories nearby.

These may include :-

• Salt is an excellent additive when combined with other cleaning agents. It helps in removing rust, though it should be used in a dissolved form so as to avoid scratching your coin.
• Vinegar, which contains mild acetic acid, is essential as it helps reduce and remove coin corrosion.
• Tomato Ketchup contains citric acid, which is useful in dissolving oxides that have settled on a coin’s surface.
• Cokes and Colas are sure additives that easily cut through the grime that has settled on a coin’s surface.
• Lemon juice is a great accompaniment that easily removes tarnish from coins.
• Always use a soft brush, latex gloves, plastic containers and soft towels when cleaning coins.

Certain general coin-cleaning tips are essential to sum up.

These include making sure you avoid strong or excessive scrubbing, which essentially gives your coin a brilliant and shiny look but, in fact, removes the much sought-after lustre on the coin.

Once this lustre is removed, it then plays a big part in lowering your coin’s value and acceptability in the coin market.

Tap water contains chlorine, which can adversely affect your coins.

Endeavour always to use vinegar and iodised salt combined with distilled water.

Using this procedure is the best non-destructive way of cleaning your coins.

Coin Storage :-

Once you have a particular coin of interest, you may find you need to hold on to it for a while as you wait for the right time to enter the market.

As a serious coin seller, there are two main considerations that you may have to keep in mind.

Any type of container or holder is great for storing low-value coins.

Air-tight containers made of inert materials are best for high-quality, rare and valuable coins.

Coins are made from different types of metals or combinations of metals, though they may not be as strong as the metals in their natural form.

So they have to be properly maintained more than if they were in their normal metallic form.

Likely Causes Of Coin Damage :-

• Incorrect Handling: Always handle coins with extreme care. Handle coins using your index finger and thumb, or even opt to use latex gloves. Be aware of dropping or scratching them and avoid abrasive surfaces and materials.
• Air Pollution: Various environmental conditions can harm your coins. Urban settings may have industrial fumes, whereas rural settings may expose your coins to moist conditions.
• Acidity: Items that we normally use in coin collecting mostly contain various types of acids. The cleaning soaps, the containers used, and other items are made from materials that contain acids.
• Heat and Cold: Too much heat can enlarge or distort your coins. Kitchen areas, for example, may be too hot or too cold due to fridges, freezers, ovens and other appliances.
• Humidity: Metals react heavily when exposed to water. Keeping water away from your coins is very easy, except that water in vapour form can penetrate even the best-sealed environments, which can harm your coins.

Always choose your storage location carefully to avoid putting your coins at risk.

Be aware that any slight disfiguration appearing on your coins greatly reduces their value and appeal in the coin market.

Best Places To Store Coins :-

When choosing where to store your coins, always consider places that ensure they are secure from theft and protected from conditions that can cause damage.

Another crucial factor to consider is the number of coins you intend to store and how often you will wish to access them.

Home Storage :-

Storing your coins at home is the most inexpensive way to ensure they are well protected from damage, and they are also easily accessible whenever you are in need of them.

Depending on their quantity and also how often you need to access and show them off to potential business partners, you may need to make a small investment to obtain a few coin storage accessories that include, but are not limited to:-

• Coin Tubes: These are great for storing coins of the same size. They are air-tight with a lid, thus keeping out humidity. A disadvantage of coin tubes is that coins rub against each other, which can cause scratches.
• Coin Flips: These usually offer effortless storage, keeping a coin free from humidity in a transparent housing that allows easy observation.
• Coin Albums: These are used to store a slightly larger collection of coins of different sizes and shapes. They have the advantage of adding a brief written description of the coins and also facilitating easy viewing, free from damage.
• Coin Boxes and Coin Chests: These are advisable for large collections. They offer added security, but they need to be combined with other coin storage accessories to ensure your coins are safe and protected from damage or loss.
• Coin Slabs: These are the best and most recommended forms of coin storage. They offer a well-protected and sealed environment free from unexpected or accidental damage. They also allow for easy viewing at all times. They are used for storing certified, high-value and rare coins only.

Third Party Storage :-

At times, security may be more important than all other forms of damage.

In such a case, you have to consider storing your coins in a more secure environment than in your home.

Approaching a bank or security installation to rent a safe deposit box to store your coins is a good starting point.

This method is a great add-on if you have high-value coins.

A disadvantage of this form of storage is that you might miss the chance to have easy access to your coins.

Similarly, the vault’s environmental conditions might not be the best for your coins.

Coin Grading :-

Coin grading is the process of determining the condition of a coin of which this condition is used to determine the approximate or actual value of the coin in the coin’s market.

Coin grading is a crucial and delicate part of coin selling, as it is the point at which a seller determines the actual or approximate value of their coin.

The process of grading a coin requires a lot of experience and expertise to correctly make a fair, informed and honest valuation of how much you can pay for or earn from a particular coin of interest.

Coin grading is done by an experienced coin collector, coin dealer, or expert/professional appraiser.

Once you have acquired a particular coin of interest, you may find it advisable to first grade it yourself so that you have an overall view and a sense of what to expect after taking it to an expert for professional grading.

How To Grade Coins :-

Grading coins is not an easy task, as it requires a lot of practice, experience, and tactics.

You will need a strong magnifying glass to get a clear view of your coin.

A strong, bright light source will also be very helpful during this activity.

Once you have set yourself up for the activity, you may then be in a good position to know what you are looking for on your coin.

Below is what you are required to keep an eye on and look out for on your coin when grading.

• Contact Marks: Check for Hairlines, which are minute scratches on the coin’s surface caused by contact with abrasive materials. Scrutinise the coin’s rim, edge and surface for any cuts, nicks, notches or any other form of wear.
• Preservation: Check the coin for any visible signs of excessive polishing, cleaning, poor storage, or alterations.
• Lustre: This is the sheen or soft shine on the surface of a newly minted coin. When the coin is rotated under a single light source, the light’s reflection will spin and dance across the coin’s surface. Be extra vigilant to observe whether the coins’ lustre is still bright or has dulled.
• Eye Appeal: This is the overall look and feel of the coin. It is how all the aspects of a coin come together to give it an eye-popping, breathtaking look that carries away a coin collector’s mind and heart.

Once you have checked and rechecked your coin, then the other fact to keep in mind is to be aware of where to place your coin on the grading ladder.

Coin collecting is a universal activity that has participants from all walks of life worldwide.

Due to this fact, professional coin collectors, scholars and researchers led by Dr. William H. Sheldon came up with an idea to unify the grading systems of different collectors.

The Sheldon Coin Grading Scale :-

As a way of achieving common ground and agreement among worldwide coin collectors, the Sheldon Scale was adopted to universalise the assessment of a coin’s condition, which is a key indicator of a coin’s value and eventual price in the coin market.

The Sheldon Coin Grading Scale is a 70-point scale that describes the condition of coins from the poorest to the best available condition.

Below is a shortened version indicating the main grades of the scale.

• Poor – 1 :- Coin is barely identifiable.
• Fair – 2 :- Coin is fairly and thinly identifiable.
• Good – 4 :- Most details on the coin are worn flat. Most inscriptions are not visible if not clearly clear.
• Very Good – 8 :- Design is worn out but has some visible detail and it is not flat. Legends are a bit clearer.
• Fine – 12 :- While wear is noticeable, most legends are still clear. This is the first grade typically considered as pleasant to look at if not desirable.
• Very Fine – 20 :- The wear on the coin begins receding to higher finer points. Most of the low-level details are intact.
• Extremely / Extra Fine – 40 :- Coin still has light wear but all details and writings are sharp and clear. This is the first grade that coins still have a Lustre on them.
• About Uncirculated – 50 :- At this level of grading, wear is basically a trace element. Other grading criteria, like Lustre, take over. The lustre here is half visible.
• Uncirculated – 60 :- All Lustre is fully visible and available.
• Perfect Uncirculated – 70 :- This is the epitome of coin collecting. Also called Mint State with no wear and having full Lustre.

The Sheldon Coin Grading Scale is a very important and helpful tool, as it provides a level playing field for all coin collectors when assessing the value of a particular coin of interest.

Generally speaking, depending on the market demand of a particular coin, it is safe to say that a grade 70 coin will be seventy times more worth than a grade 1 coin on the Sheldon Coin Grading Scale.

Coin Valuation :-

Coin Valuation is the process of attaching a payable monetary value to a particular coin of interest.

This process is carried out by a person of high integrity, called an Appraiser.

Generally, basically and honestly speaking, a coin is only worth as much as someone interested in it is willing to pay, and the seller is willing to accept that payment.

The value of a coin depends on three factors, and each plays a pivotal role in determining a fair price agreeable to both the buyer and the seller.

These factors are :-

• Scarcity / Rarity :- This is the commonness of a coin in the market. The more people have the same coin of interest, the less it is valued.
• Popularity: Some coins attract significant attention and interest from collectors due to their informational or historical significance. The more significant a coins is, the more popular it gets and ultimately the more in value it is valued.
• Condition :- The overall condition/grade of a coin is crucial when it is being valued. The more higher a coin appears on The Sheldon Coin Grading Scale the higher in value it is valued.

As all other markets worldwide the simple rule that applies everywhere is that the higher the supply, the lower the price. The higher the demand the higher the price.

The only guaranteed value of a coin is it’s face value. Beyond that then the desires of a collector will vastly influence how much a coin is really worth.

At times some coins may be in very high supply but very low in supply of high-grade coins that the demand requires.

Therefore it is safe to say that demand is the ultimate determining factor of a coin’s eventual value.

Types Of Coin Valuations :-

Valuing coins can be done in several ways, depending on the reasons for the valuation and on who is doing it.

At the end of the day, the value is correct if it is agreed upon by the seller and buyer.

• Book Value :- This is the generally accepted value of a coin
• Buy Value :- This is the value a dealer will pay a collector. These can also be called the Numismatic value.
• Retail Value :- This is the value that a dealer would sell a coin for to a collector.
• Wholesale Value :- This is the value that a dealer would sell a coin for to another dealer.
• Appraised Value :- This is the value of a coin after grading and appraisal from a recognized and professional coin appraiser.
• Bullion / Intrinsic Value :- This is the value of a coin that is determined by the current price of the metal that it was minted from.
• Nostalgic Value :- This is the value of a coin derived from its popularity.

As a wise coin seller, always have your coins appraised by a professional coin appraiser, as this is the surest way to achieve the best value for your coins.

A professional coin appraiser will give you an accurate and up-to-date value of your coin.

They will base their valuation on their expert opinion of your coin’s condition and also take into account what similar coins have been selling for of late.

At our company, we have experienced and expert coin appraisers who are grounded in integrity.

They are always ready to serve all our company clients and ensure you get the best prices for your coins at all times.