I Asked ChatGPT To Explain How To Make Money on Valuable Coins Like I’m 12 — Here’s What It Said

ChatGPT remains the most famous of all generative AI LLMs (large language models), now capable of also creating high-quality images — sometimes with an extra hand, leg, finger or toe as the kinks continue to be worked out — and video clips, the latter provided via OpenAI’s Sona model. Its functions can be used in a variety of ways to make money.

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Those interested in coin collecting, or simply in identifying potentially rare coins in the wild or in your change purse, may be interested to know how ChatGPT might offer advice to beginning numismatists, a fancy word for coin bugs.

So, GOBankingRates asked ChatGPT: “Explain how to make money on valuable coins like I’m 12.” Here’s what it had to say.

‘Learn What Makes a Coin Valuable’

The first step provided by the AI model was to ensure one familiarizes themselves with the basics of coin value, with ChatGPT providing a brief breakdown of four distinct themes to be aware of.

ChatGPT noted that not all coins are worth anything more than face value, but common reasons why they might be are listed below:

• They’re really old: a factor which often increases desirability for buyers, as well as scarcity due to odds of the example’s survival
• They have mistakes: This separates the common variety of a mintage from what are frequently termed as error coins.
• They were only made for a short time: insinuating a limited mintage.
• They are made of valuable metal, like silver: This holds true in general, with gold and silver coinage being worth at least its weight and purity in melt value.

Consider This: Check Your $2 Bills — They Could Be Worth a Ton

‘Start Looking Through Coins,’ But Not Before Using a ‘Coin Guide or App’

ChatGPT, keeping in mind — or, rather, in its circuitry — that it was ostensibly speaking to a preteen, then advised the hypothetical questioner to begin searching through coins at home, in their piggy bank, at a coin shop or at a coin vendor’s booth at a flea market.

But, as the AI agent cautioned, it’s best to arm yourself with a reputable coin guide — it mentioned the red book, or the latest revision of the “Official Guide to United States Coins,” which is probably an AI-mistitle of “A Guide Book of United States Coins” by Jeff Garrett — or a coin app, with PCGS CoinFacts being brought to the fore, before doing so.

A common refrain in the hobby of coin collecting — “buy the book before the coin” — was cited by ChatGPT, linking to comments made by John McFarland for the American Numismatic Association.

Story Continues## ‘Sell Your Coins,’ but Be Sure To Compare Markets

Keeping things simple here, ChatGPT advised enterprising young coin slingers to consider selling their valuable coins online via eBay or elsewhere, at a coin shop, or at a coin show if they’re feeling particularly brave — and have supporting parents or guardians.

“Always check multiple places before you sell, so you don’t get ripped off!” the AI model quipped, before concluding with a few solid pieces of broader advice.

Never clean old coins, as it diminishes their value; keep all rare or desirable coins in capsules or soft plastic cases; and “be patient. Finding valuable coins is a game of luck and smarts!”

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This article originally appeared on GOBankingRates.com: I Asked ChatGPT To Explain How To Make Money on Valuable Coins Like I’m 12 — Here’s What It Said

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