5 Places To Look for Rare Coins Worth A Lot of Money

D-Keine / iStock.com

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

Coin collecting can be a fascinating and potentially lucrative hobby. While some may think that finding valuable coins is a matter of luck, there are specific places where you can increase your chances of discovering rare and valuable pieces. Here’s a list of five prime spots to start your treasure hunt for coins that could be worth a fortune.

1. Antique Stores and Estate Sales

If you are browsing or selling coins, according to the Atlanta Gold and Coin website, when referring to advice for estate sales, “you may want to consider having the coin professionally graded or certified. A coin’s mintage and grade are primary factors that determine its value, and most grading companies will charge you based on the estimated value of the coin.”

• The Opportunity: Antique stores and estate sales are treasure troves for rare coins. People often overlook the value of old coins in these settings, selling them as part of larger collections or estate items.
• Tip for Success: Research in advance and arrive early to get the first pick of available items. Knowledge of coin history and rarity can give you an edge in spotting valuable pieces.

2. Flea Markets and Garage Sales

In June 2018, a man bought a coin for 55 cents, thinking it was just an interesting looking coin, only to find out later after getting the coin graded that the man had just purchased a 1776 continental dollar worth to be over $100,000, Fox News reported.

• Why They’re Ideal: Sellers at flea markets and garage sales may not be aware of the true value of coins they possess. This lack of knowledge can lead to rare coins being sold for far less than their worth.
• Strategy: Patience and a keen eye are key. Sift through coin collections and loose coins, and don’t hesitate to haggle to get the best deal.

3. Online Auctions

Before buying coins online, it’s important to do your research on the coin first. Check at its current scarcity status, get advice from a professional coin grader, and check the seller to make sure they’re legit. Many coin experts do their shopping online, with some coins online going and worth from cent to hundreds of thousands of dollars.

• The Potential: Online auction sites like eBay often have rare coins up for bid. Some sellers may not fully understand the value of what they have, setting lower starting bids.
• How to Win: Keep an eye on auctions with poor descriptions or unclear images, as these can be hidden gems. Set alerts for specific coin types you’re interested in.

4. Bank Coin Rolls

In 2017, reported by Coin World and CNBC, coin enthusiast Megan Green visited her local bank to acquire 50 rolls of pennies. Among these, she discovered a 1969-S Doubled Die Obverse — a rare and valuable coin, estimated to be worth around $24,000.

• What to Do: Purchase rolls of coins from banks and search through them for rare pieces. Occasionally, rare coins can end up back in circulation and be acquired this way.
• Remember: This method requires patience and a bit of luck. After searching, you can return non-valuable coins to the bank, making this a low-risk option.

5. Coin Shows and Expos

Coin shows are a great place to find the rarest of the rare of coins, as experts and collectors get to flaunt and sell their rarities–some reaching hundreds of thousands of dollars. Find coins shows coming up to see if any are in your area here.

• Why Attend: Coin shows attract enthusiasts and experts alike and can be an excellent source for rare finds. Networking with fellow collectors can lead to tips about available rare coins.
• Networking Tip: Build relationships with dealers and collectors. Being a known face in the community can lead to dealers offering you first dibs on new arrivals.

Conclusion

Finding rare coins worth a lot of money is part luck, part knowledge, and part perseverance. Whether you’re rummaging through a flea market or scrolling through online auctions, the key is to stay informed and patient. With a keen eye and a bit of research, you might just stumble upon a coin that turns your hobby into a highly rewarding venture. Remember, every coin has a story, and the next one you find could be both historically significant and valuable.

Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.

Share This Article: