Now this is the kind of coin that really gets those collector juices flowing. It is an old copper grano (12 cavalli) from the city of Naples, Italy, at a time when Spain ruled the region. The coin in our picture is in beautiful shape without any problems such as scratches, stains, or cleanings, and this makes it very appealing to collectors. Coins found in bad shape, i.e., barely recognizable or harshly damaged, will be worth much, much less than this specimen.

The coin in our picture comes from icollector.com where it sold in a live auction by Artemide Aste in San Marino for 180 euros, about $220 US dollars. Standard coin catalogs indicate prices like this:

worn: $10 US dollars approximate catalog value
average circulated: $35
well preserved: $120

The fact that Artemide's coin sold for much more than catalog value shows that large fluctuations possible in coin pricing. When a collector strongly desires a particular example, he or she ignores catalogs and bids to get the prize.