Q:

How do you appraise the value of pennies?

A:

Quick Answer

There are several online resources such as AppraiseMyCoins.com that help determine the value of pennies by assisting collectors in determining the standard type and conditions of the coins and offering an estimated value. A value of coins and coin collections can also be obtained through a local coin dealer or by searching sale prices of similar coins online. There are many variations determining the value of pennies and generally an in-person appraisal from a knowledgeable source is often a more accurate valuation versus an online guide or appraisal.

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Full Answer

The value of pennies are determined by a number of factors, including the date, mintmark, variety and grading. AppraiseMyCoins.com offers coin collectors a free online appraisal by entering the type of coin, year, mintmark and condition of the coin. Based on the information given, users receive an estimated value of the penny. For example, selecting a penny from 1909 in very good condition would be worth about $4.00 as of 2015.

The process of appraising the value of pennies can be challenging and working with a professional that has experience in evaluating, appraising and selling coins is recommended advises Appraise My Coins founder Dr. Michael S. Fey.

A list of reputable coin dealers can be found on the American Numismatic Association's website, Money.org.

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