There are ample ways to find out whether a coin you have is a rare one or not. You just need to have some information and presence of mind to search for errors in the coins. Once you have such coins, you become a rare coin collector.
Here are the few tips worthwhile to identify unusual coins:
- Error coins have minor mint made mistakes. The mistakes can be like broad or off-center strikes, indents, double strikes at same place, split or clipped planchets, capped or clashed dies, and blank prints. Some errors may not be of much value, however some errors of print like off metal errors may earn you thousands of dollars.
- Design mistakes on the minted coin earn the coin collector a lot, especially coins with mistakes in casting of die. The popular one among them is the double die coins. This happens when mistakenly every design of the coin gets die twice.
- Try to know the year of the coins you have in hand. Old coins are quite valuable. If it dates decades back, then it may be worth in thousands of dollars. However, all old coins aren’t listed as rare. The old coins worth trying are pennies, nickels, dimes, quarters, half dollars and silver dollars.
- Look for the coins minted by valuable metals like gold and silver. Sometime if it is your lucky day, you may come across gold and silver coins in the exchanged money. Silver has more chances to be seen in circulation rather than the coins minted with precious yellow metal. You need to search out them form place where bags of coins are kept like in bank. This roll searching is done by getting the bank roll in exchange or currency notes.
To watch the errors and the misprint in dies on coins, you need to have special equipment. The tools will make it easier for you to identify the flaws.
The tools are:
- Magnifying glass of power 7X to 10X power.
- Have good lighted lamps like desk lamp to brighten the print on the coin.
- A soft cloth.
- Bank rolls or bag full of coins.
Thoroughly check each coin inscription after rubbing it with the soft cloth to remove the dirt and the grease on the coins. For guidance to search for rare coins you can consult a local coin collector or browse through the sites of coin dealers.