You may want to think twice before tossing out your loose change — one of your pennies could be worth $7,000.
Serious collectors want all of their coins to be authenticated and graded by a third party that has certified their value, McCarthy says.
Coins are typically graded on a scale of one to 70. A grading of one means the coin is worn to the point of barely being recognizable, while a 70 means the coin is nearly perfect and looks like it was just created.And take note: Experts advise against cleaning any coins you believe may be rare and want to sell.
While many beginners tend to believe that a coin is worth more if it's brighter and shinier, the opposite is true for most coins, McCarthy says. "Collectors want their coins 'original,' which means they don't have any surface impairments and show no signs of cleaning or damage," he explains. Once your coin has been authenticated and graded, it's ready to be put up for auction. Auctioneers, like Stack's Bowers, will let collectors all over the world know that your coin is up for sale — you just wait to see what kind of bids it receives.
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