Gold coins have been traded as currency for thousands of years, with the first ones created around 560 BC. Just as the designs of gold coins have changed over the years, so have gold coin values. Gold coin values are dependent on many factors, such as number created, age, rarity, and the condition of the coin.

Age Of The Coin

Gold coin values are first determined by the age of the coin. The older the coin, the more value it has. Some coins are classified as antiques and are traded as such. Other coins may be hundreds of years old. Some old coins have been passed down from family member to family member for generations, while others have been found in some of the most unlikely places imaginable. When determining gold coin values based on the age of the coins, tests may be performed to verify authenticity and precise age.

Number Created

The number of the coins created, or "minted", is another indicator for gold coin values. Coins that have millions of copies are worth quite a bit less than coins that only have a couple hundred copies. Gold coins values are also dependent on the year that the coin was created. Recently, a 1933 double eagle gold coin was bought at auction for over $7 million, making it the most valuable coin ever sold.

Coin's Condition

The condition of the coins may also influence gold coin values. Coins that are in excellent or mint condition are much more desirable to collectors than coins that are beat up and weathered. There are a few things to look for, such as the sharpness of the relief on the coin, whether any lettering on the coin has rubbed off, and whether the edges of the coin are symmetrical. The condition of the coin can influence the price of the coin by a large margin, and collectors find that it is much harder to sell a weathered coin than a coin in good condition.

Rarity Of The Coin

The biggest influencer on gold coin values is the rarity of the coin. Coins that may be one of a kind or have less than a dozen left in existence are highly prized by collectors. Coins with the smallest amount of copies left in the world are the most expensive coins in value. Although many may have been minted originally, in some cases the coins have been taken out of circulation and melted down to create new coins. The few coins that survive, either in a collector's case or a child's piggy bank, become more and more valuable as time goes on and the number of copies of the coin dwindles.

There are many determining factors for gold coin values. If you are unsure of the value of a particular coin, there are many references you can use to look up the general value of the coin. There are also coin collector's expos you can attend that will have experts in evaluating the worth of a coin in attendance. Who knows? That coin in your hand may be worth a lot of money.