Collecting coins is considered one of the ancient hobbies in the world and it is often referred to as numismatics. Coins have become a centre of attraction for collectors not because of the precious metals they’re composed of but because of their intriguing history and because various coins depict a thing or two about the culture or art of their nation.
Collectors usually adopt a primeval approach when it comes to collecting coins. They will either collect coins of all prominent personalities, of a particular era or time or coins of the same metals like gold, silver, or platinum.
Gold coins are usually 99.999% pure gold and they’re the most valuable type, followed by 24 karat coins which are 99.99% pure. Silver coins are usually 99.99% pure silver.
Some of the most valuable collectible coins (gold and silver) to this date are:
The Lincoln Cent (1909), Lincoln Cent (1914), Doubled Die Lincoln Cent (1955), St. Gaudens Arabic Numerals No Motto (1908), etc.
Peace Dollar (1921), Morgan Silver Dollar (1878), Mercury Dime (1916), Standing Liberty Quarter (1917), Washington Quarter (1932), etc.
Some of the most talked-about and relatively “harmless” methods of cleaning collectible coins include cleaning with pure water, soaking them in vinegar for a brief moment, or ketchup/ tomato paste. However, no matter how “dirty” or “old” the coins look it is advisable to not try to clean them in any way. Sometimes cleaning them will do more harm than good. Their original color will lighten and they might lose their original shine or a certain amount of metal might wither away from the coin. Practices like cleaning coins with toothpaste or baking soda do loads of harm to the surface of coins. This is why cleaned coins value less than “original” or uncleaned coins. Experts ask collectors to think of their coins as wine, the older they get and the more “vintage” they appear to be, the more their value elevates. Old and apparently rustic coins capture the true essence of their antiquity, thus adding to their value. However, if one still chose to clean their collector coins, their coins will lose their “collectors’ value” and their value will reduce to the value of the gold or silver they are made of.
The value of gold and silver coins can be estimated by its condition, how scarce it is, its demand, and grade. Grading is considered to be the most crucial and integral factor when it comes to estimating a collector coin’s value. For full price values on world gold and silver collectors’ coins, please visit the Gold News Australia website.
Grading basically helps with judging the coin’s actual physical condition. Coins can be, on the lower end, poor- withered and worn out- or they can be perfectly uncirculated- in an immaculate condition- on the higher end. If a collector coin has circulated for a short period and is in great condition it will be graded as ‘about circulated’ and so on. The better the condition of the collector coin, the higher its grade.
In conclusion, it is always wise to keep your collector coin in a safe space and avoid cleaning them at all costs.