Coin collecting can be an interesting hobby or business venture. It can be a profitable business if you know how to make good decisions in purchasing rare old coins and highly collectible coins. Collectors are willing to pay reasonable amounts of money for particular rare coins. Prices are often determined when a coin is only available in limited quantity or condition.
Coin prices are determined by value, their available quantity and their popularity. The ones that usually have a higher value and price are those that are hard to find or are in limited quantity. When there is a demand for limited coins, the coin prices will escalate due to the supply and demand logic. If there is a limited supply, then the prices is subject to what a buyer is willing to pay. When available available, the prices are usually lower and the price value is determined on conditions or circulation.
Grading affects the selling price as well. Grading is a means of determining the value of a coin based on condition, rarity, demand, and other factors that will affect the overall value of the coin.
Age is not always an indication of a high valued coin. Some really old ones may not fetch as much as the more recent ones if they are in very poor condition. Collectors vary as much as coins themselves. Some coin collectors will seek out rare coins that have unique markings, mint flaws, and other oddities about the coins. Prices can and do drop and increase depending on its popularity and demand. Speculating investors will purchase coins that they hope will escalate in value over time.
Values are not determined by mere appearance. There are guidelines that estimate value. Guidelines are important in order to accommodate the many collectors from all over the world and this helps to also determine coin values. The two largest factors used to determine coin values are popularity and grade.
Popularity is the foreseen consideration for determining coin values. High in-demand coins affect the price or value and will usually drive up the price. These in-demand coins fetch a high profit if they decide to sell. However when the popularity of a coin dissipates so does the value and price.
The quality of the old coins affects the value. If an old coin's mint date is still visible, this is critical to its value. Age is very important when it comes to value. On the other hand, the overall condition of the old coins also affects the coin's value and selling price.
If you have or plan to make collecting a business, then by all means talk to existing coin collectors to know how to get started. All coins are not created equal nor are their collectability. The art of collecting is fun and can be profitable, but be careful not to over-estimate a given coins value for a long-term investment. Prices and values do change consideringly and you could lose as much as you could gain.