How Does a Coin Become Valuable?

Imagine you have a special candy that only one person has. Everyone wants it because they think it's super delicious, and since there are so few of them, people will pay more for it. Coins work the same way: if not many people have them, or if people think they're rare or pretty, then they become valuable.

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Examples

A chocolate bar costs $1, but a special one with gold foil inside could be worth $10 because it’s rare and shiny.
Your little brother has a toy that only one other kid has, everyone wants to trade for it because it's unique.
You found a coin from the year your grandfather was born, and now you think it might be valuable.

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Categories: Economics · coins,value,economics,money