In the realm of coins, there are coins that are or were legal tender, and “coins” that are struck as commemorative pieces. In the United States, there were millions of silver dollars, quarters and dimes, and historically many gold coins used as currency. Most of the silver coins are only valuable for their silver weight, though there are plenty of coins that have value that far exceed the cost of the metal.
The same is true with historic gold pieces. Generally, most of the value if a gold coin will be found in their metal, though there are still others that are rare and worth much more than their melt value.
Other coins are interesting as tokens commemorating something, such as a place, a person or event. Some countries will strike coins that are solid silver or gold and embellish them to drive interest from collectors. Generally, these coins are only as valuable as their metal content unless one finds a collector who just has to have that particular coin to round out their collection.
Still other coins are made of a base metal and have a thin coating of precious metal applied. This is a coin “layered” with a precious metal, but is not itself of solid precious metal. Often these coins are two-toned and might even come with a certificate of authenticity. Read these carefully. One example brought to the shop included the words “Guaranteed to be layered in .999% pure silver” which means that there is a thin layer of precious metal. Such a coin may be valuable to a collector interested in the subject matter, but it does not have much value in precious metal.
Jewels On Hampton has experts on staff who can examine a coin and help you determine its value as a collectible and as an item made of precious metal. We are experts in the market for coins and collectibles, and we are experts in identifying the metals used in striking coins. Visit us to learn more about your collectible coins.