Chile Coins: What to Consider
You may be an experienced collector or you may be a beginner looking for the perfect first find. Whatever the case, a variety of new and used Republic of Chile coins are available on eBay. Read the following points to learn more about your options and what to consider before you purchase.
What are valuable Chile coins composed of?Whatever your collecting experience level, you'll have a choice between the some of the following compositions:
- Silver
- Gold
- Copper-nickel
- Aluminum-bronze
- Copper
One form of certification that you will likely want to look for is NGC. NGC stands for Numismatic Guarantee Corporation.The other form of certification to look for in a Chile coin is PCGS certification. This stands for Professional Coin Grading Service. The value of a coin may also be influenced by whether this coin is certified by one or both entities.
Pay attention to the description of each coin as the certification type will likely be displayed in the item title or description. If your goal is to collect coins at a lower cost, you may want to look at uncertified coins.
Factors that determine a coin's value
The year from which a Chile coin came is another aspect of a coin that helps to determine its value. Value tends to go up as the coin's origin dates further back, but rarity of the coin and its condition also factor heavily in determining the price. While current denominations are worth their face value at the current market rate, coins that are no longer negotiable are valued differently.
What kinds of coins are from Chile?When you browse the reasonably priced Chile coins, you'll find a variety of values to choose from. The current Chilean currency is the peso, which is divided into centavos. This replaced the escudo currency in 1975. While outdated coins worth 1, 5, 10, and 50 centavos exist, the currency has inflated to the point where centavos are too small to be relevant; the mint stopped making them in the 1980s. Peso coins include versions with 1-, 5-, 10-, 50-, 100-, and 500-peso values. The Chilean mint stopped making 1- and 5-peso coins in 2017 and began an exchange program to remove them and replace them with coins of a higher value. eBay carries both currently negotiable and outdated coins.
What coin grades are used for Chile coins?A few examples of coin grading systems you'll see are PCGS, NGC, CAC, and ANACS. PCGS stands for Professional Coin Grading Service. NGC stands for Numismatic Guaranty Corporation. CAC stands for Certified Acceptance Corporation. ANACS stands for American Numismatic Association Certification. Some coins may even be ungraded; in which case, you'll see a lack of these labels in the title or description of the coin you're interested in.
Content provided for informational purposes only and does not constitute investment advice.