You May Want to Check the Coins in Your Pocket

May 28, 2012 - PRLog -- People are creatures of habit and that is just the way we are as a group of pre-programmed children to adults, when it comes to dealing with the coins in our pockets. Coin change in our pocket or purse is mere pieces of a dollar that were left over from a purchase and we never really pay any attention to what we have in our pocket.

Rare old coins are always in circulation and laying in unsuspecting places. People who are conscious of this fact are willing to take the time and look at each coin they come in contact with. There are hard core coin collectors willing to do research as to where banks of the 1800’s, civil war battlefields and trading posts were located to use metal detectors to find rare old coins that could be worth a mint.

The general public, you know, those folks like yourself, that think nothing of the coins in your pocket are some of the same folks that spend more time than they care to admit to daydreaming about becoming rich. Heck, these same people will buy a lottery ticket and face incredible odds rather than scan their pockets for odd and unusually old coins.

Coins that have a very high value do not necessarily have to be old or odd looking. The major factor in finding a valuable coin in your pocket is to know what to look for. Some coins had a very small volume of a particular coin minted or they used different metal composition for some of the minted coins. During tough economic times and during war times this was not uncommon.

Coins of value often will not stand out just by scanning the color of the coins in your pocket, although coins with a higher silver content will have a distinctive color difference. Even pennies have gone through several metal content changes over the years and one year there were actually pennies made of lead instead of having any copper content.

There is another myth that you need to be aware of. The higher the coin face value transposes into the higher the coin collector value. The truth is every U.S. coin denomination ever minted has highly sought after coins of high value to coin collectors. It’s much like car enthusiasts, some like Fords, and some like Chevys’.

Do coins gain or lose value over time? The answer is yes definitely. If there is a particular coin that has seen a big drop in the number of coins known to be in circulation, that coin’s value will go up. If there is a sudden sell off of a given coin from collectors, this can cause a drop in that coin’s value.

Coin collectors are like keepers of the coin business and they know what is going on in the coin business and you can learn a lot by talking to your local coin dealers. Anytime you talk to the people who make a living doing anything of interest to you, they will provide you will priceless information that can benefit you tremendously.

To gain some quick insights of what coins and paper money alike to be on the lookout for, you can jump over and get a quick insight on what’s hot right now: http://wealthsmith.com/rare-old-coins-value.htm