The world’s most expensive coin, the Flowing Hair Dollar, went up for auction yesterday. In 2010 it sold for just under $8 million, three years later it set a world record when it sold for over $10 million. It was bought by a collector to add to a unique collection of Early Silver Dollars – including the 1804 Draped Bust Dollar which made headlines when it sold for over $3 million in 2017.
What makes a coin collectable?
It’s incredible to think that a 1 dollar coin could be worth millions today, but there’s several things that determine the numismatic value and collectability of a coin. So we’ve put together a collector’s guide to help you know what to look out for when adding coins to your collection.
Several things determine the numismatic value and collectability of a coin – usually it’s based on the type of coin, the year it was minted, the place it was minted and even its condition or finish. But the biggest factor is probably the mintage of a coin and its rarity.
Mintage and Rarity
It’s the old rule of supply and demand – the less that are made, the more difficult a coin is to source and the more collectable it becomes. There are thought to be less than 150 of the Flowing hair dollars in existence today which contributes to the value of them.
Or take for example the US 2015 Silver Eagle. This had a mintage of just 79,640, making it three times rarer than the second rarest silver Eagle (this year’s COVID Eagle). As these were snapped up by collectors, they have become more and more scarce, and in higher demand than ever, with collectors willing to pay a premium just to add one to their collections.
Year of issue
This doesn’t always mean age of the coin, but the year can play an important factor in determining the value of a coin. Generally you can expect to pay a premium for historic issues but this isn’t always the case. In fact some Roman coins can be picked up for less than £50, but coins from much more recent times, such as Victorian Crowns can sell for hundreds of pounds! Victorian crowns struck in important years, such as the 1887 Jubilee Head crowns are more desirable because of their links to significant events.
The finish of a coin, or the strike, is also an important factor to consider. Proof finished coins are struck several times with specially prepared blanks, which gives the design a particularly sharp edge and shows every detail. Proof finishes are highly desired among collectors, as are coins issued in BU – or brilliant uncirculated finish. This means the coin hasn’t been in circulation so is free from all the scratches you’d find on coins in your change.
Sometimes the mintmark or location of the mint in which a coin was struck can affect the collectability of the coin. The mintmark on a coin tells us where a coin was struck, and from that collectors use historical records to work out just how rare each coin is. For example, the Morgan Dollar was struck in 5 different mints, but the Carson City issues are the most sought after – they were struck for only 13 of the 43 years in which the Morgan Dollar was minted.
Many collectors specialise in some of these areas and build their collections around rare coins, themes and years of issue, or even mintmarks. But demand can and often will change over time and sometimes that means the value someone is willing to pay for a coin will increase over time – just as we’ve seen with the Flowing Hair Dollar.
If you’re interested…
Own the RAREST EVER Silver Eagle: Three times rarer than this year’s “Covid Eagle” we have managed to source a tiny number of these coins straight from the US. Click here to secure yours with a deposit of JUST £19.50 now >>
Back in January, I attended the largest coin show in the world – the World Money Fair. Thousands of collectors and hundreds of dealers and Mints from all over the world attend the annual fair to showcase their new releases and the very latest in minting technology.
I’m always looking for new and unusual coins to offer collectors, whether that be a shape, size or technologically advanced coins that push the limits on what can be achieved in the minting world.
So, ever since I arrived back in the UK, there’s been some incredibly exciting coin news I’ve been wanting to share with you.
But before you read anything else, you need to know that the majority of the range completely SOLD OUT before going on general release so you get the enormity of how big a deal this is!
Introducing Smartminting 2.0
Most collectors are already familiar with Smartminting technology. Only achieved by a small number of mints across the world, the exact techniques used in Smartminting are a fiercely guarded secret, but essentially the state of the art technology allows unprecedented levels of intricate detail and extraordinary high relief while only very slightly increasing the weight.
So what more could Smartminting 2.0 possibly offer I hear you ask?
This new technology (or ‘Smartminting Reloaded’ as it’s been coined in the collecting world) breaks many barriers that were previously considered impossible… Until now.
Take a look at the images I’ve included below, and you’ll see BOTH sides of the coin can now be struck to an incredible high relief proof finish. But that’s not all, the relief levels are 100% higher than what was previously possible!
And if that’s not enough, for the FIRST TIME EVER, Smartminting technology has been applied to a coin made from copper.
You’ll notice the incredible relief of the Eagle’s claws which make it look like they’re literally ripping through the metal and right through the other side of the coin!
Featuring ‘Incuse’ Striking
It also features ‘incuse’ striking. An incuse strike is a relatively new minting process that allows a design to be struck into a coin creating a ‘sunken’ design, as opposed to the standard raised relief. Few mints in the world have attempted Incuse striking as the unique and unusual format makes them more challenging to strike and, therefore highly unusual to come by.
The ‘Incuse’ strike is visible where the depth of the claw marks are left in the surface of the coin.
Also notice how the high relief of the Eagle’s head extends to the edges of the coin instead of just the centre, leveraging the whole surface area of the coin.
This ground-breaking technology has been deployed on a range of Majestic Eagle coins. The design featured was chosen to symbolise strength, leadership and vision and I’m sure you’ll agree it beautifully showcases just what the new Smartminting enhancements are.
However, to fully appreciate this coin, I ask, that you to watch this video. This coin really is an outstanding work of art and this video is the only way to fully appreciate this coin without physically holding it.
If you’re interested…
The Majestic Copper Eagle is strictly limited to JUST 5,000 collectors worldwide and I am delighted to have been able to get hold of an allocation to offer collectors. But they’ve been selling extremely quickly, so you’ll need to pre-order one now to ensure you can add one to your collection. Priced at JUST £55 (+p&p), click here to secure the Majestic Copper Eagle for your collection NOW >>