Caring for Your Coin Collection | U.S. Mint (2024)

FAQs

Caring for Your Coin Collection | U.S. Mint? ›

Collectors and investors often consider US Mint coins a valuable addition to their portfolios. These pieces hold historical significance, potentially increase in value over time, and offer diversification.

Collectors and investors often consider US Mint coins a valuable addition to their portfolios. These pieces hold historical significance, potentially increase in value over time, and offer diversification.

Reputable coin dealers, Coin Auctions, eBay, and Price Guides are great places to start. If your coins are graded by one of the Top Tier grading services like PCGS or NGC, you can usually get a reasonable value estimate sight-unseen!

Handling Your Collection

Wear soft cotton gloves to protect the coin's surface from fingerprints and the natural oils on your skin, which can be corrosive. While you may be tempted to polish your coins to make them look shiny and new, proceed with caution. Polishing and/or cleaning coins can reduce their value.

Avoid areas of high humidity such as conservatories, cellars/basem*nts, bathrooms, kitchens etc. Don't store against a cold wall. Physical protection should be offered for valuable collections. Valuable collections should be placed into boxes that can be easily stored in a safe.

When it comes to valuable coins, nothing compares to the 1933 Double Eagle. The Double Eagle, the last gold currency struck in the U.S., sold for a whopping $18.9 million in 2021. First minted in 1907, the coin features an image of Lady Liberty on its obverse and an eagle in flight on the reverse, Smithsonian reported.

Coins can last around 30 years in circulation before they're too worn to use. When coins reach the end of their life, the Federal Reserve removes them from circulation. Old coins are melted down and used for other things.

Released in 1976 to commemorate America's 200th anniversary of independence, the Bicentennial Quarter is usually worth no more than its face value. However, a rare variant of this coin, struck in 90% silver and featuring a special mint mark, has been valued at nearly $1 million.

Anthony Silver Dollar in Mint State (MS) is between $2 to $1,450 in the current market.

Is it better to clean old coins or leave them dirty? ›

Should you clean old coins? In almost all situations the answer is no, you should not clean old coins. When a coin is graded, the condition of the coin does not include its cleanliness. Collectors of old coins will fully expect a patina to have developed, and most will appreciate the appearance.

Avoid damaging chemicals. Some cardboard and paper contain sulfur which causes discoloration. And some plastics are made with PVC (polyvinyl chloride), which can ruin coin surfaces and coat them in a sticky, green residue. Keep your coins cool and dry.

Before cleaning old coins, consider that appraisers and coin experts suggest not cleaning collectible coins yourself because the coins may lose their value. Using chemical cleaners or scrubbing the coins can leave behind scratches and marks, easily seen by a skilled coin appraiser.

Soft PVC and cardboard contain sulfur and other acidic or oxidizing materials. For expensive coins that can be tarnished, collectors should avoid using cardboard folders, paper or plastic bags, certain plastic tubes, and any other storage container that is not chemically inert.

Generally, rare coins increase in value over the long term and can provide significant gains in many cases. However, keep in mind that there are no guarantees for how a coin will change in value.

If you decide that the value of your coins is large enough that you worry too much about keeping your coins in your home, and you want them to be somewhere else more secure, the best advice I can give you is to purchase a safety deposit box at your local bank.

Because proof coins are always valuable to collectors and can increase in value over time due to their rarity, they're a great way to build another way to profit into your bullion portfolio.

The ones you are able to find, however, may be worth more than their intended 25 cents. Those that are in mint condition and marked with a D or P (meaning they were produced in Denver or Philadelphia) could be worth as much as $3.50 if they have a certain state design, according to Coin Trackers.

Got some coins lying around? Some may be worth hundreds if not thousands to currency collectors. According to The Spruce Crafts, a site specializing in hobbies and coin collecting, coin collectors are willing to pay up to $25,000 for coins minted with errors such as missing letters, double printing, etc.

People collect coins for many reasons, including historic or artistic value, or to invest in coins for potential long-term profit.