Has one of your older bank-wary relatives recently passed on, leaving you with literal piles and jugs of coins? Are you considering taking the entire collection down to the bank or coin sorting machine and cashing it in? While that may net you some immediate cash, you could be missing out on a substantial amount of money if you do that. Here are some coins that are worth more than their face value and that could be lurking in with the rest:
Silver dollar: Many people started a silver dollar collection as they started to become harder to find. Although they were originally worth only $1, a silver dollar in good condition can be worth almost $20 today. If you find especially old silver dollars, they could turn out to be worth several hundred or a few thousand dollars. Coin appraisals done by professionals will let you know whether or not you have any of the rarer and more expensive silver dollars.
Mercury dimes: Mercury dimes were in circulation from 1916 to 1945. These coins contain no metal mercury, but instead depict the Roman god Mercury on the face. Because they were made for almost 30 years, there is a good chance that an older collection of coins contains at least a few Mercury dimes. In good condition, each Mercury dime is worth $1.50 or more. Some of the older dimes, such as the 1921 edition, can be worth a few hundred dollars apiece. If you have any, professional coin appraisals are necessary to tell you whether your 1921 dime is worth less than $100 or nearly $1,000.
Buffalo nickels: Buffalo nickels are an extremely common coin. You may have even received a buffalo nickel as change during a transaction. Because they are so common, some buffalo nickels may be worth only $0.75. But if coin appraisals tell you that you have one of the rarer buffalo nickels, you could receive $1,000 or more for the find.
Steel penny: Have you ever seen a silver colored penny? During The Second World War, copper was in short supply because it was needed for the war effort. Since pennies still needed to be made, the United States Mint briefly switched to making pennies out of steel instead. While the 1943 steel pennies are relatively common and may be worth just under $0.50, if you happen to find a 1944 steel penny then you've hit the jackpot. These pennies should sell for just under $100,000 each. Unfortunately, there are some unscrupulous people over the years who have coated an ordinary copper penny with zinc to give it the correct appearance. Having your penny appraised is a good way to verify for yourself and potential buyers that the coin is the genuine article.
For more information, contact American Precious Metals Inc. or a similar company.