It's a fact that old coins are very collectible; in fact some people will even collect new coins from various different years because it is simply an affordable (how much does a ten cent piece cost?) and accessible collection to start. However, it is also a fact that there are some very collectible coins and some not so collectible coins; determined by a number of factors although they all boil down to rarity. The more rare a coin is the more collectible it is, as with any collecting of any item. Different people have different ideas on exactly what makes collectible coins though and you may find that you have a preference for the coins that are more readily available and, therefore, more expensive whereas another collector may only be interested in rare Double Eagle gold coins that can literally cost millions if they are at all attainable.
Availability of Coins
In certain eras of history, coins have been created that for one reason or another were never handed out to the general public. Whether this is because they were originally created for private bullion depositors or for other reasons, the fact that these coins are quite difficult to get hold of makes them highly collectible. For instance, in 1933 there were over 400,000 Double Eagle gold coins produced but the President of the time, Franklin Roosevelt, ordered all but two of them destroyed in order to try and help alleviate the pressures of an under nourished gold stock. Not all of them were destroyed and a small number were taken. 20 of these have cropped up since then and all have been either voluntarily returned or confiscated by the American government. In 2002 one such coin was put up to auction by the government and fetched a staggering 7 million dollars. This is a truly unique piece because America has no plans to ever auction off any of these coins again essentially making it one of a kind.
Error coins
Sometimes coins are created that simply aren't correct and these are also rare. The mistake is normally spotted after a few thousand have been minted and the problem is rectified. This means that the coins with errors on them become very collectible coins indeed. Other factors still surround the overall price of them, but the fact that they are rare can never be ignored. This fact often leads to some ridiculous rumors. For instance, in the UK there was a rumor that a very modern 2-pound coin was produced in error that showed the Queen without her necklace. The rumor stated that this was already such a collectible coin that if you had one you could receive fifteen pounds plus the face value of the coin in question. It has unfortunately been proven that this coin simply isn't rare at all, and the Queen is wearing no necklace because the stamped image is from the neck up and not the shoulders up.
Mint Condition Coins
The condition of a coin is as important as the condition of an antique. If a coin is in near mint condition then it is certainly a collectible coin. Coins were created because they are durable and very difficult to break or damage to such an extent that they lose their worth. They do, however, scuff quite easily especially when in a pocket or wallet with other coins. A collectible coin needs to be in mint condition and any potential buyers will probably check very closely for even the smallest of scratches if you are trying to sell it as mint condition. If there are obvious scratches you will probably still find a buyer for your collectible coins but they will not be willing to pay as high a price.
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