Old British coins include the farthing, halfpenny (or ha'penny), crown, shilling, guinea, sovereign, florin and groat. These coins ceased to exist when the United Kingdom switched to a decimalized monetary system in 1971, though some of the terms persist to refer to decimalized amounts of similar value.
Before and after decimalization, British money centered around the pound, which at the time of its introduction by King Henry II was equal to 1 troy pound of sterling silver. Aside from the £1 coin, which the British called a sovereign, money was measured in shillings and guineas. Shillings were one-twentieth of a pound, and guineas were equal to one pound and one shilling. Guineas were considered a more civilized coin, often used as payment between gentlemen.Learn More
The name of ancient Greek coins depends upon the period in which they were made, the region and the type of coin. The drachma was the currency used in Greece during several different periods of its history.Full Answer >
The price of old coins is determined by collector demand, according to the American Numismatic Association. Demand changes from year to year as collectors alter their buying and selling habits. The ANA states promoters, dealers and the U.S. Mint influence prices of coins on a regular basis.Full Answer >
Some old coins with a hole in them are valuable. A hole in a coin can also cause the value of the coin to decrease.Full Answer >
Collectors most often buy and sell old coins at auctions, from coin dealers and at coin collecting conventions. Coin valuation companies offer a third-party estimated value for both coin buyers and sellers.Full Answer >