How to Find and Identify Rare Coins

21 Apr 2020  Tue

The beauty of building a rare coin collection is that many of us have already begun collecting coins without knowing it. It is not uncommon for people to find rare coins in common place locations, including in a pocketful of change, on the street, or in an older family member’s attic. When you come across an unusual-looking coin, the first step you should take is to identify it and figure out its value and quality.

Determining the rarity and value of a coin on your own can be tricky, particularly because there are so many varieties of coins. One way to determine this is by purchasing a book with descriptions and images of rare coinage. Alternatively, you could also book an appointment to show your find directly to a professional coin collector, who could help you identify and value the coin.

As a rule, you might have a rare coin if it looks unusual by comparison to the rupee and paisas you can find in your pocket. If one face of the coin has an unusual pattern or design, the coin appears to be a different shade or colour than you are used to, or the year or grade of the coin pique your interest, these are good signs that you have a rare coin in your possession.

Once you have discovered that you have one or more rare coins, it is time to consider the next steps. Many collectors preserve their rare finds in a coin storage unit, which mitigates the risk of environmental decay or damage to the coin. This also has the advantage of separating your rare coinage from everyday rupees and paisas, preventing the potential of an unfortunate mix-up at the coffee shop. You might also consider starting a rare coin collection, which you can grow through intentional collecting and investing. Once you are at this stage in the process, it is also worth considering valuing the rare coins you already have in order to have a clear sense of the value and variety of specific coins within your growing collection.

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