How I Avoided Selling Rare Coins Without Knowing Their True Value (A Step-by-Step Guide)

I’ve been there—and it stings. Here’s how I fixed it for good.

My Painful Experience with Undervalued Coins

As a coin collector, I once bought a batch of UNC silver Libertads. Not my favorite series, so I traded them away quickly.

Then I found out: four were 1991 Libertads. And 1991s have two types.

Type II has reeded edges and lower-case lettering. Only 50,000 were minted. Type I had over a million.

Mine were all Type II.

My heart dropped. I called my friend right away.

He’d already checked. They were worth around $1,000 each—not the $50 I thought. He kindly returned one, but I’d lost three.

That mistake taught me: always verify before you buy or sell.

Step-by-Step Guide to Identifying Rare Coins

Step 1: Research Mintage and Varieties

Don’t guess. Look up every coin.

For Libertads, check the edge, letter case, and year. Use trusted sources like the Red Book or PCGS CoinFacts.

My tip: Make a checklist. Include year, variety, edge, and errors. It takes two minutes and can save you thousands.

Step 2: Use Tech to Your Advantage

Apps like Coinoscope or Numista help a ton.

Now, I take clear photos of every coin. I zoom in on edges and lettering. It caught a doubled die Lincoln cent I almost missed.

Try this: Snap pics, compare online. Don’t rely on memory.

Step 3: Always Check Authenticity

Fakes are everywhere. After my scare, I test everything.

Weigh silver coins. Use a magnet. For big-ticket items, get them graded.

Here’s my simple tracking method:


| Coin | Year | Variety | Weight (g) | Authenticated |
|------------|------|---------|------------|---------------|
| Libertad | 1991 | Type II | 31.1 | Yes |


Common Coin Trading Mistakes—And How to Avoid Them

Overlooking Small Details

It’s easy to miss tiny differences. Like an overdate or a mint mark variation.

Use a magnifier. Check dates and lettering carefully.

My routine: Re-check my collection every few months. New varieties pop up all the time.

Not Keeping Records

Write everything down. Who you bought from, when, what you paid.

It saved me when I realized my Libertads were rare. I could trace them back fast.

Lessons From Other Collectors

A friend found a Close AM error in a proof set he got as a tip. Sold it for $250 instead of $20.

Another turned a $60 VAM into $2,000—but said the hunt was exhausting.

“Patience pays. Verify, then verify again.” — Advice from a longtime collector

Final Thoughts: Don’t Let This Happen to You

Research, use tech, check authenticity, keep records. These steps saved me from more heartache—and helped me spot hidden gems.

In coins, what you don’t know can cost you. Knowledge isn’t just power—it’s profit.

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