How to Spot Neglected Change Worth a Tidy Sum - From Date and Grade to Errors and Variations

If you've got a stash of old coins gathering dust, you could be sitting on a fortune. Chris Yang, co-founder of Coins Value, has revealed three key signs

If you've got a stash of old coins gathering dust, you could be sitting on a fortune.

Chris Yang, co-founder of Coins Value, has revealed three key signs that your neglected change could be worth a tidy sum and where to flog them for the best price.

He said: "With some research, you may find that old coins lying around your house have a monetary worth so much higher than their face value.

"To determine if your coins are worth a lot of money, look for the following key factors."

1. Date and mintmark

Firstly, Chris emphasised the importance of identifying when your coins were made, usually indicated by a mintmark.

It might seem obvious, but the oldest coins are typically the most valuable - particularly if they're from before 1900.

However, this isn't always the case. Just recently, a single 1933 coin reportedly sold for a staggering £140,000 as just seven were known to exist in the world. So, it might be worth having a rummage through your grandparents' collections too.

In reference to US currency, Chris added: "Also, there are some mintmarks like CC and S for Carson City and San Francisco. These coins are rarer.

"Mintage—the lower the original number, the more valuable they tend to be. For instance, the 1794 Flowing Hair Silver Dollar had a mintage under 1,800 and can sell for millions."

2. Grade

The 'grade' of a coin refers to its condition. Chris went on: "Coins in perfect 'mint' condition are worth far more than their well-worn, damaged, and poor-condition counterparts.

"Sometimes a minor difference in grade translates to hundreds, maybe thousands in value."

Right now, there are various different ways of assessing grade across the world.

Determining whether a coin is counterfeit comes as part of this too, as fraudsters use a variety of deceptive techniques to make fake money look as real as possible. If a coin is discoloured or damaged, it may add a further challenge in determining its authenticity.

3. Errors and variations

While you may assume that errors would devalue a coin, this isn't the case at all. In fact, those with visible printing mistakes are very valuable in the coin-selling world.

Chris drew to the Double Die Penny as an example of this - a 1955 US cent that appears to have two images instead of one due to manufacturing problems. These are worth more than £1,413 ($1,800).

In the UK, an undated 20p is also popular among collectors. Although it was produced in 2008, there is no date on either side of the coin, adding to its intrigue.

Once you've gathered up your worthy rare coins, you'll probably want to sell them. However, Chris suggests holding on to them until you absolutely need the cash as their selling price will usually go up even further with time.

He went on: "If the coin you own is highly important, the best practice is to hold onto it unless the need to raise money is urgent. The better issues of these important coins gain in value over time.

"The prices of these scarce coins are subject to some uncertainty based on alterations in the overall market and economy.

"When selling, shop around various dealers and obtain the best price. An auction house is considered to achieve the maximum value for really spectacular pieces. Be prepared to pay a 10-20% commission on the selling price.

"In sum, scrutinise your coins, have them identified and graded professionally, and work with experienced numismatists to determine the real value of your coins so that you can sell them for the best price.

"Remember, the thrill of coin collecting isn't always about striking gold; it's about connecting with history and uncovering hidden treasures. Your old coin jar might hold more than just spare change – it could be a portal to a fascinating past."