how coins are valued

The grading of a coin is one of the major factors to the value of a coin.

You can read more about grading here but the main point is that a coin of higher quality will have a higher asking price. Proof coins are the highest grade of coin, followed by BUNC, AUC, EF, VF, F and G.

The amount of coins from a denomination and year made has an impact on value. A good example is the 2023 Salmon 50p coin. There were only 200,000 of the circulation version of this coin minted, That may sound a lot, but there are over 7.5 billion 50p coins estimated to be in circulation, And 200,000 coins works out at approximately 68.35 million, so there is only one of these coins per 34,145 people in the UK.

There are coins out there that that have a higher mintage number bit are sought after by coin collectors. The 2011 Offside Rule (Football) 50p coin was part of the 2011 Olympics range of coins. There were 1,125,500 of these minted, but because it is the lowest minted coin from the Olympics range, it is more desirable to collectors. 

This might sound obvious but there are some variations to this. Prior to 1921, the silver coloured coins in the UK were made from .925 silver, then from 1921 to 1947 they were made with 50% silver, 1947 onwards they were made from a copper and nickel mix, otherwise known as CuproNickel. The more the silver content in a coin, the higher the scrap value, so a poor (G) quality 1902 shilling is worth more than a 1970 Proof shilling,

All of the above factors can have an impact on each other. For example the 2023 Salmon 50p is a desirable coin. The circulated version (The one without the privy mark next to King Charles Head) is the lowest minted circulating coin but is only available in grades of AUC or lower. The Privy Mark version in Proof or BUNC condition is worth less than the circulating coin.

One way is to look on eBay. But don't rely on the price someone is asking for the coin. Always filter your coin search to 'Sold Items'. Look down the list at coins that have sold via auction and this will give you a better understanding of the value of the coin you have, but keep in mind all the points above as these will impact the coins value. And remember, if you are selling to a dealer, you are very unlikely to get the price you have seen elsewhere. Remember, we have costs to pay, and profit to make and this will impact an offer value,