Cash in the Attic? How you could be living amid a potential goldmine of valuable coins…

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Coin enthusiasts around the world are on the lookout for rare and exclusive coins – and for good reason. A rare find can either be added to a collection or possibly even sold for remarkable sums of money

Throughout the year, the media shares breathless reports of people discovering valuable hordes of coins within the home. While incredibly rare, these discoveries may inspire you to consider what treasures may lie in your house. Below are some of the most impressive finds from the past few months and some hints and tips if you plan on looking yourself…

Fantastic heirlooms and where to find them

Heirlooms are often passed through families and can provide great emotional comfort for relatives. While often only providing great memories of past family members, certain lucky people often find huge financial value in these antiques.

This is exactly what happened to a man in Ottawa who decided to look into a bracelet that was handed down to him from his great grandmother. He noticed a gold coin on it and decided to investigate the coin’s worth through trade catalogues. After being unable to source and date the coin he posted a picture of it on a numismatists’ forum where he was alerted to the coin’s rare character. It was determined by a dealer that the coin was from India and was minted in 1605 during the Mughal Empire and the Ottawa local was shocked to get it valued at around $500,000. The coin ended up being sold at auction for an astonishing $504,000!

It goes to show, rare coins can be found in places you would have never thought. Even though this was a one in a million find, family heirlooms can have a secret history and you never know what treasure they may be hiding.

Scour power – cleaning the house

Spring is just around the corner and with this the need for a spring clean. While this often only creates much needed space within a house, for a select few it uncovers long-lost and long-forgotten collectables.

This is exactly what happened when an auctioneer decided to clear up a hoarder’s house in Stroud.  He noticed a gold glint in draws and cupboards when beginning a clear up. He was shocked to have stumbled upon what he called a “pirates grotto,” of precious coins. When all the coins were finally found, the collection went to auction and sold for £80,000.

This auctioneer was of course very lucky as it is unlikely that rare and special coins can be found around a house. If you ever feel like you need to get something valued, then always speak to a reputable coin dealer to check on your valuables.

Pick your own pockets

There are many aspects that contribute to a coin’s value. The number of coins being minted, or accidental defects can increase the value of a coin. This means for certain lucky individuals, the coins kept in their pocket can end up being worth many hundreds of times more valuable than the coin itself.

A 1983 2p coin which has the words “New Pence” instead of “Two Pence” on it has recently been sold for £540. This minting error meant the coins are being sold for huge values across the internet. However unlikely it may be to find this coin, it is always worth checking your pocket, piggy bank or behind your sofa in case you have any error or ”mule” coins. You never know where you might next find some hidden cash.

The reality of finding a rare and valuable coin in amongst your household goods is unfortunately very unlikely. The examples of people stumbling across coins worth thousands of pounds are so rare that they become newsworthy.

We love hearing these good news stories but please do not be disheartened if you don’t find any rare coins. If you need a numismatic pick-me-up, please do contact us on 0333 234 3103.

 

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