Is your coin really as valuable as Google tells you? Is something that someone said on the internet really true? Such a high number it says, now you’re interest is piqued -do you read on?
“Hey I’ve got a 1983 United States of America liberty coin I’ve looked it up and it’s going for 15K”
says a user of the Google search engine. So we Googled too. Where do I go to get the money?
But did you watch the video? Oh wait no? This particular coin touted as worth $15,000 in the headline isn’t quite as it appears. It’s a baited title to get you to watch the video, click on the advertising and they rake in the money from those clicks. As you watch the video you learn that one time, way back (6 years ago now) a near perfect third party graded and encapsulated coin sold for this pricey sum. Since then the market has shifted, populations have changed and run-of-the-mill circulated examples for the same coin fetch just a few dollars. Sorry for the spoiler, did you already book the holiday?
Just recently a news story told of the Australian 1972 5c fetching $200. Oh wow, start the car! Let’s talk about this specific example. 8.3 million coins were minted for circulation which is a low number in circulating coin production statistics so if you find one in change it’s a harder to find year. The Mint manufactured uncirculated coin sets in 1972 and one can be easily picked up for $100. BINGO, a nicer quality coin and all it’s friends too! A single 1972 5c in uncirculated (not scuffed, scratched or toned) can be purchased for around $50. Then in the high end collector market you have the best of the best coins sent to PCGS or NGC to be independently graded, certified and encapsulated and these can fetch $100+, this value is then dependent on how many have been graded that high and how many collectors there are seeking that perfect of perfect coins. So to imply that the coin you’ll find in change that has been circulating for 48 years is going to be worth $200 is again misleading titles and clickbait.
If you think you might have a valuable coin then it’s worth doing your own due diligence which is more than reading the title on a search result. Read thoroughly or watch the video to ensure you are getting truth. The don’t just check asking prices, see what your coin is actually selling for in the marketplace right now (check sold results on eBay). First check that the information is about your coin. Does it have the same mintmark, is it an error or variety -check the details on how to identify accurately, is it the correct year, the correct country, denomination, is it the finest known example of that coin, was it produced in low numbers for that year or only in sets -there are so many small details that can affect the value of a coin.