If you own a classic head half cent, then you probably want to know how much it is worth. Grade and condition are the main factors used for determining value. Five factors are used for determining grade, attractiveness, color, luster, preservation and strike. However, determining value is a little more complicated. Here are three things to consider when selling your half cent.
Understand the Coin Market
It really helps to understand how the coin market works. Coins are distribute on certain dates, which means it has a year attached to it. For example, a half cent made in 1811 is more valuable than one made in 1990.
If a dealer, such as Penny Pincher Coins & Jewelry, wants a half cent for a specific year, then he has to buy it from other sellers or dealers. Current coins are not being made for past years. They are being made for the present and future years to come.
When a dealer purchase[s] a coin from you, he is buying it wholesale price. If you want to purchase the same coin from the dealer, then you have to buy it at retail price.
Circulated and Uncirculated
There are two main types of half cents, which are circulated and uncirculated. Circulated means your coin has been purchased or damaged.
A coin starts off as uncirculated when it is made. In order to label a half cent as uncirculated, there must not be any signs of previous owners. You can tell this by the luster and it should have no signs of wear. Uncirculated coins are more valuable than circulated one.
Invest in Handbooks
It is important to not walk into a transaction with a dealer without knowing the value of your coins. Knowing the price can help with bargaining and prevents you from being disappointed. An example of resources you should study are Numismatic News, Coin World and the Handbook of United States Coins: The Official Blue Book. These resources use date of coin, circulated value and uncirculated value to help you with determining the value of your half cent.
Some people think they can increase value of their coins by cleaning them. This is not true. Cleaning your coins can lower the value. An experienced dealer can easily recognize when a coin has been cleaned. If you want to get the best value for your classic head half cent, then it helps to be knowledgeable on the subject and to deal with qualified dealers.