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What are some myths about the value of rare coins?

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Quick Answer

Several myths concerning the value of rare coins include the belief that limited edition minted coins are highly valuable and that all ancient coins are rare and expensive. Another myth is that natural-toned silver coins are worth less than standard silver coins.

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Full Answer

Limited edition minted coins from the U.S. government and private entities are sold in a limited quantity before the mold is broken. They often carry high grades and are sold with beautiful packaging. However, the fact that they are built as collector's coins means that every buyer purchases his coin for this purpose, while natural rare coins are only kept in good condition or saved by chance. Because few limited edition coins are lost, ruined or spent, they are always easy for collectors to find and purchase, detracting from their value.

Although ancient coins issued by famous figures, such as Nero and Julius Cesar, are valuable and highly sought after, coins that were mass-produced along with raw, unidentifiable ancient coins are often worth only a few dollars. These include the bronze coins produced by the Roman Empire during the era of Constantine the Great. Although some collectors hold that rare silver coins with toning are damaged goods, National News Today confirms that this toning protects the surface of the coin, enhancing its value.

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