Get rich by selling valuable coins? That can work. Often, however, coins and medals are worth much less than you think.
How do you want to invest your money for old age? Quite a few investors rely on gold, among other things. But are medals and coins really good as an investment? What you need to keep in mind so as not to lose money.
Gold can be an addition to the portfolio. (Symbolic image) © McPHOTO/Imago
Are coins worth anything? How you make a profit – and what you don't
Do you inherit your grandmother's coin collection or find a rare two-euro coin – and are now hoping for great wealth? It's not that simple – because there are big differences when it comes to coins. While some let the penny roll, others are absolutely worthless as an investment.
If you want to determine the value of coins, distinguish between:
- Bullion coins are actually made of precious metals – and therefore already have their own material value.
Circulation coins are current or former means of payment. Basically, they have the value as shown. So a one-euro coin is worth one euro. The situation is different with former means of payment: These may have a collector's value.
Commemorative coins are official means of payment that are minted on special occasions. However, they usually do not have much value.
Most coins are not made of precious metal, but of material that does not cost much in itself. If you melt down a euro coin, you wouldn't get much for it. But there are also valuable coins that are made of gold or other precious metals. Their value is based on the daily price of precious metals.
List of valuable coins:
| Coin | Land | Gold Fineness |
| Krugerrand | South Africa | 91,67 % |
| Maple Leaf | Canada | 99,99 % |
| Nugget Kangaroo | Australia | 99,99 % |
| American Gold Eagle | United States | 91,67 % |
| Vienna Philharmonic Orchestra | Austria | 99,99 % |
| Britannia | Great Britain | 99.99% (from 2013), 91.67% (until 2012) |
Source: Wikipedia
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If you want to buy coins, look for reputable sellers. Offers from magazines are not included. Even sellers on eBay often have completely unrealistic ideas. It is best to stick to banks and gold dealers. Stiftung Warentest recommends: "Dealers should be members of the Association of German Coin Dealers or the Professional Association of German Coin Dealers. There are member directories on the websites."
Valuing coins: What you should know if you want to sell coins
If you would like to sell your bullion coins, you must comply with these legal regulations:
- If you own the coin for more than a year, you can resell it tax-free.
Under a year, trading counts as speculation. You have an allowance of 600 euros, above which the sale is taxable.
Also, choose a reputable dealer when selling. Please note that this charges fees on the intrinsic metal value. The smaller the denomination, the more expensive. Therefore, it usually only makes sense to sell coins from one ounce.
The value of circulation coins depends on supply and demand: If many enthusiasts have an interest in it, but there is little to buy, you can make a significant profit. However, it also plays a major role how well the coin is preserved. The spectrum ranges from "beautiful" with clear signs of wear to the flawless "uncirculated". The difference in value between them can be significant, so you should never clean your rare coin yourself, always leave it to a professional. If you have some time, it is advisable to auction the collector's coin at the auction house. Here you have the advantage that it never goes off the counter below value.
Determine medal value: Useless as an investment
Unlike coins, you usually don't even have to have medals appraised. These are usually issued as mass-produced goods on special occasions – and are therefore worthless. Only in rare cases could you get lucky and get hold of an object with collector's value. So it's better to keep your hands off it and provide for your pension in other ways.