If you have collection of UK coins, whether it’s your own small change, discovered bags of coins, or a serious numismatic collection - perhaps inherited - you are probably asking yourself if it has any value.
We’re here to help you get started, though, if it is a valuable collection you will probably want - and be rewarded with - specialist advice.
A great condition, silver coin from the reign of Queen Anne promises good value. Click the image to find out more.
But beginners can start to make checks for themselves.
Let’s take a look.
1 - Be careful with your coins
Whatever the end result of this process and however they come to you, the first thing you can do is make sure your coins don’t receive any further damage while in your hands.
But this almost certainly means - with a few exceptions - not cleaning them.
Cleaning can damage coins, particularly valuable ones, and should only be done by people who know what they’re doing and after deciding it is the best thing for the coin.
Don’t let your coins sit in a bag. “Bag marks” are a specific damage term in the coin collecting lexicon, so let’s get them out of danger.
If you can store your coins singly, in a dry, dark place you’re making a good start.
Very valuable coins should be stored securely, of course, and in some sort of specialist, acid-free medium. The best coins are sealed into fully labelled capsules that record their condition while preserving it.
Most coins are worth very little. Image by Mike Bird at Pexels.
2 - Your coins are probably not worth very much
People go into haystacks looking for needles because needles are sometimes found in haystacks.
But rarely.
Like stamps, coins were mass produced in enormous numbers for everyday use.
And coins are much more durable than stamps, so even old issues - and this can mean many centuries old - are likely to be relatively common.
3 - But it’s worth checking
But on the bright side, it is always worth checking your coins.
And even recent issues can have rarity value and carry big price tags among collectors.
There’s very little downside to going through a pile of change looking for precious, low-mintage and desirable coins like the 2009 50p. It could return you several thousand pounds.
The 2009 Kew Gardens 50p is a favourite for change-checkers and there are plenty still out in circulation.
4 - What makes a coin valuable?
Value in coins follows a pattern familiar to most collectors.
5 - Is your coin old?
Older things tend to be rarer (though we know coins last very well).
This is Alfred the Great, on a famous penny from his reign, and it's pretty obvious that this is no modern, machine-made piece. Tap the image for more.
Older coins are also more likely to contain precious metals that might give it some intrinsic value.
Gold sovereigns were circulating coins until the start of World War I.
And silver was used in a high purity in crowns, half-crowns, double-florins, florins, shillings, threepenny bits and shillings until 1920, and at about 50% purity from then until 1946.
So, any of these coins will have some intrinsic value.
6 - Is your coin in good condition?
For coins to have value as a collector’s item rather than a chunk of valuable metal they really need to be in good condition.
Only the very rarest items will have buyer-appeal without a shining lustre, a good strike, and fine edges.
This coin looks great, and its excellent condition adds to its value and desirability.
So, have a look for the best quality items in your collection.
There are numerous coin grading scales, but in the UK, the most common one is a word-described hierarchy from “poor” (you can tell what the coin is but not much more can be seen) to “proof”, a test strike that is the finest possible state for any coin.
For beginners with a newly discovered collection, a simple grading by eye to pick out your best looking pieces is a good way to find a shortcut to value.
7 - Is your coin obviously wrong?
Condition is one thing. But is your coin a standard issue?
If you can spot an error it is worth examining more closely.
Not all errors are immediately apparent to non-expert, naked eyes.
But some are.
And coins are designed to be sharp, easy to read, regular items.
Deviations from that basic pattern may mean an error.
Some errors are design issues that get removed in production,
Others are production problems, like double strikes that add a shadow image to a coin face.
Errors can be tiny and affect only a small area of a coin and you may need expect help to find them.
8 - Is your coin rare and is your coin in demand?
Now we’re entering the realms of specialist knowledge or some decent research if you’re working from scratch as a beginner.
A sovereign stands out. It is made of gold. It’s heavy. And the design is special - it has always been a jewel in the crown of the Royal Mint.
1879 was a low-mintage year and its historical echoes make this coin very popular with collectors.
But, would you know that an 1879 sovereign is particularly rare?
In 1933 only six pennies were struck.
Almost all of the 1917 issue of sovereigns (the very tail end of circulating gold coinage) were melted down and sent to America to pay off war debt.
Mintage numbers can vary for a variety of economic and political reasons and the sharp-eyed or knowledgeable collector can pick out the good years - even of recent 50p and £2 coins - and cash in on the premium value.
While rarity adds value, usually, it is nothing without demand.
To look at that 1879 sovereign again. Collectors treasure it. It’s an early issue in the much-loved combination of engravings of the Victoria Young Head backed with George and the Dragon. And 1879 was the year of the Battle of Rorke’s Drift, one of the most hallowed actions in British military history. And, for some reason - presumably the happy coincidence of imperial derring do and imperial imagery on the coin - drives demand.
Such things are fickle of course, and may change for all sorts of reasons. Certainly, coins that are considered attractive or well-designed (and not all are by any means) may attract more collector interest and higher prices. First issues of designs or monarchs or denominations give a similar boost to buyer interest.
This silver penny from the reign of Henry I is a particular design type, pellets in quatrefoil, that collectors like. Click the image to find out more.
9 - Specialist advice on the value of rare UK coins
You can now do a lot of your own research on rare UK coins.
The hobby of numismatics supports many thriving, specialist communities where you may find advice for free.
It’s never been easier to do your own selling online too.
And, on the basis, that a coin is worth what you can get for it, that may be your best bet.
But, in order to find the right buyers for the best coins you will probably need to find a specialist coins and collectible dealers.
Buying and selling rare UK coins today
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