Learn What Makes a Coin Valuable Based on Date, Mintmark, and Condition

If you’re new to coin collection, also known as numismatics, the intricacies of what the factors that determine a coin’s value may seem quite daunting. The good news is that many of these factors can be simplified into some key basics within this coin value guide: , we date, mint mark, eye appeal, and condition. Understanding the basics of what makes a coin valuable will help you build confidence as a collector and this guide provided by the numismatic experts at Archangel Coins is here to help you make heads and tails of it all.

Coin Value Checklist

Here are the core factors of what collectors should focus on when evaluating a coin:

1. Date 
2. Mintmark
3. Eye Appeal
4. Grade/Condition

Date – The date of the coin simply tells us when the coin was made, in the case of a coin with more than one date listed on it, usually the most recent year will be the date of production.  

Mintmark – The mintmark tells us where the coin was made, currently there are four mint facilities that produce coins for the United States: Philadelphia, Denver, San Francisco, and West Point.

Eye Appeal – This is the subjective element of coin value that refers to the color, shine, and how attractive the coin looks overall. 

Grade/Condition –  Coin grading is the level of preservation, from poor to mint,  usually measured on a scale from 1 to 70

Coins are graded on a scale of 1-70.  1 is the lowest grade possible and 70 is the highest and represents perfection.  Anything under the grade of 60 is circulated and anything that is 60 and above is uncirculated.  There are also terms that are used in grading to classify any number of problems that a coin may exhibit such as: damage, cleaning, environmental damage, pvc, corrosion, repaired and other terms.  These quantifying terms are things that affect value negatively.  

Note:This is just addressing the grading scale and not how to determine or approximate the grade.  It takes many years to become proficient across the various designs of coins to accurately grade them.

Mintmarks – Where Was Your Coin Made?

The location of the mint can make a significant difference in the coin’s value. Here’s a quick overview of the mintmarks of the four main U.S mint facilities:

 

(Photo reference) Philadelphia 1792-present: Recognized by the lack of a mintmark or a “P” mintmark.  Philadelphia did not use a mintmark on its production coins until quite recently (in fact the Lincoln cents struck in Philadelphia still do not display a mintmark) and the lack of a mintmark is not an error in circulation strike coins in nearly all cases.

Denver 1906-present:  Recognized by the “D” mintmark

San Francisco 1854-present: recognized by the “S” mintmark.  San Francisco produced circulation coins from 1854-1973.  From 1974-present San Francisco has been responsible primarily to produce “Proof” coins, which are not intended to enter circulation.  The main exception to this is the Washington quarter series 2012-present in which “Business” or Uncirculated strikes bearing the “S” mintmark can be purchased directly from the U.S. mint for a premium.

West Point 1984-present: Recognized by the “W” mintmark.  West Point has been responsible for production of U.S. bullion coins in silver, gold, platinum and palladium.  These coins are stuck in Proof, Burnished, and Uncirculated finishes.  The only notable exception happened in 2019 and 2020 when 2 million of each quarter released in those years (10 designs in total) were struck and intentionally released into circulation.

Coin Grading Scale -Coin Value Letter Grade System  

As the subject of coin grading  is quite extensive, we will focus instead on circulated coins and those that show signs of wear from everyday transactions. 

Many collectors and dealers rely on letter grades as an introduction to evaluating condition and coin value:

• P (Poor) – P1: Heavily worn; most of the design is no longer visible.
• AG (About Good) – AG-3: Major design elements are visible, but wear is heavy.
• G (Good) – G-4 to G-6: Moderate wear with most key details still identifiable.
• VG (Very Good) – VG-8 to VG-10: Light wear; all major design elements are clear.

Uncirculated Coin Grading Scale ( Mint State & MS Grades)

Mint State (MS) coins are uncirculated, meaning they haven’t been used but may have small marks from handling or storage. Here’s how their grades compare:

• MS-63 (Mint State 63)
  The coin must have no wear to any parts of it and should have luster.
  Contact marks from storage with other coins in a mint bag will be abundant.
  Fields and Liberty’s cheek will be cleaner but still have some detracting marks.
• MS-67 (Mint State 67)
  The coin must have no wear to any parts of it and should have luster. Contact marks from storage with other coins in a mint bag are almost nonexistent. Fields have very sparse, non-distracting marks. Liberty’s cheek appears almost devoid of marks.

One of the most collected series of coins, Morgan Silver Dollars. Given that these coins were struck between 1878 and 1921 there are more circulated examples than uncirculated, however, there are many dates & mintmark combinations that are plentiful in uncirculated conditions, it is likely easier to start by working our way from lowest grade to highest grades when evaluating condition

How Mintage, Condition, and Certification Impact Coin Value

The date and mintmark indicate how many of a given coin was struck, called the mintage  The higher the mintage the more common the coin will be, the lower the mintage the scarcer the coin is.

Example: 

Let’s look at two examples from the Morgan Silver Dollar series:

• 1880 S Morgan Silver Dollar-mintage of 8,900,000
• 1893 S Morgan Silver Dollar-mintage of 100,000

Based on the coins mintage the 1893 S is significantly more valuable than the 1880 S. But rarity isn’t everything,  As can be seen from the next chart, which will show how grade affects what makes a coin valuable.Even at lower circulated grades, it holds significant value, but in higher Mint State grades, its price climbs into six and even seven figures! 

 

This example has the added benefit of making clear the point that common coins in spectacular condition can be quite valuable. However, very few coins, regardless of the date and mintmark, achieve grades of MS 67 and higher in older coins.

—–

The coin grading scale we’ve examined is widely used by collectors, dealers, and professional  grading services. For coins that appear to be high grade or rare,  they will likely need to be sent in for certification by PCGS or NGC, the top two recognized grading services.  

Certification does not directly affect value but rather introduces a 3rd party’s (not the seller or buyer) educated opinion of the condition of a coin.  Using the same example of the 1880 S from above consider that a buyer is not going to pay MS-68 money ($3800) for a coin PCGS or NGC may ultimately determine is an MS-67 and worth only $700, this is a case where the coin should be graded, the grading cost is likely to be around $75.  However, if the price difference between potential grades is minimal, certification may not be necessary.

In discussing the topic of “ hat makes a coin valuable,  it would be remiss to not address the topic of price guides.  There are many sources, to name a few:

• The Redbook–  this guide has been published since 1947 and is a great resource for general information.  It does have pricing and cursory text descriptions for grade approximation but is only published once a year, as such pricing reliability is questionable, but the balance of the information supplied for the cheap price of $17.95
• PCGS Retail Price Guide– provided through PCGS.com, for the most part recognized as high end retail prices by the vast majority of collectors and dealers alike
• CDN / Greysheet– widely used by advanced collectors and dealers, monthly publication that is in most cases reasonably  accurate as a fair market valuation.  Lacks basic information that is typically found in the Redbook.
• Phone Apps– sadly we have not found or been informed of any app that contains relatively accurate information.  Be extremely cautious as many of these apps not only are inaccurate but also push incorrect information

Recommend resources:

• The “Red Book” for informational purposes ($17.95)
• CDN / Greysheet for pricing information (single issues are priced at $30 for a digital copy/ $40 for a print copy mailed
• PCGS.com/photograde for more information on grading (free resource.)
• “Making the Grade” Comprehensive Grading Guide for U.S. coins, text descriptions and excellent photos (print book $39.99)
• PCGS.com (grading service)
• NGCcoin.com (grading service)
• CACcoin.com (grading service)
• Money.org (American Numismatic Association)

Ready to Know What Your Coins Are Really Worth?

Don’t leave your coin collection’s value up to chance. Consult the numismatic experts at Archangel Coins in Las Vegas – we’ll help you make “cents” of coin grading.

 

Values from May 2024 “Greysheet”
Mintages from The Official Red Book “A Guide Book of United States Coins (2025)
Photos for grading examples from PCGS.com/photograde