Pause Before Going Down the Rabbit Hole: Dealing With Nonsense Online

Two times this past week, I've been contacted by folks who had questions about information they'd seen online about coins. Two times this week, I had to point out that there's a lot of crap on the internet!

The first was from one of the instructors at my gym - he said his daughter had asked him if her coins were worth a lot of money. The poor kid had been given a commemorative 20c and 50c by the tooth fairy and decided to look them up online. She saw one of them being advertised for $800,000, and the other was $3,000! One was a nonsensical YouTube video, the other was an equally nonsensical eBay listing. That Dad then had to share with his daughter that not everything we see on the internet is true - heavy stuff for a 5-year-old!

The second was from a grown man who lumbered into our office yammering about his Malaysian 20 sen coin. I grabbed out our plastic container of Malaysian loose change and showed him one of the same date and denomination, only for him to boldly declare, "No, MINE is the valuable one!"

When I asked him why he thought that was the case, he said "Because I saw it online."

I asked him if he could show me (big mistake) he then showed me a movie he'd recorded with his phone of a YouTube video on his computer. Now this Youtube video showed just a normal Malaysian 20 sen and had a voiceover that was clearly an AI-generated robotic voice.

What I couldn't get my new friend to understand is that the internet is full of exaggerated or outright false claims about coin values. (Just as it is about every other subject under the sun). Whether it’s an inflated eBay listing, a misleading video on YouTube, or clickbait headlines on search engines, navigating truthful information is tricky. These traps can lead to people wasting endless hours chasing a sale or, worse, making decisions based on false data. Nobody wants to waste their time—or their money—on a wild goose chase.

This article is an attempt to help. By introducing a simple, two-step verification approach inspired by tried-and-true military intelligence methods, you will learn how to efficiently determine whether a claim about a coin’s value is BS or not. With this approach, not only can you avoid falling for online hype, but you can also confidently determine whether your discovery is worth further action.

The Problem With Coin Values - Misinformation is Everywhere

It’s shockingly easy to encounter misleading or inaccurate information about coin values online. A quick eBay search might show a common coin listed for hundreds of dollars, or a YouTube video might claim that an ordinary penny could fetch a small fortune. Clickbait articles flood search engines with exaggerated claims, often presenting dramatic titles like “Find THIS coin in your wallet and retire rich!” For novices drawn in by curiosity or hope, these sources can create a false sense of potential wealth.

Why Does It Happen?

The spread of misinformation is often driven by questionable motives.

Novice sellers might list coins at outrageous prices on platforms like eBay, not because the coins hold significant value, but to test what uninformed buyers might pay.

Others use sensational headlines or videos to generate clicks, prioritising advertising revenue over accuracy.

Some content creators may simply lack the expertise, posting information with good intentions but providing little factual basis.

This combination of malice, profit-seeking, and unintentional errors creates a perfect storm of misleading content that thrives across digital platforms, feeding on the inexperience of the audience.

The Cost of Falling for It

Believing misinformation leads to a series of frustrations.

A beginner might invest hours researching a coin’s value only to discover it’s worth no more than its face value.

Some might even attempt to sell their coin, navigating complex seller platforms, only to face disappointment when their listing attracts no interest. Worse, buyers unaware of market realities may overpay for something advertised as a rare treasure, only to later realise they’ve been deceived.

Beyond the wasted time and financial loss, the emotional toll of dashed expectations can discourage aspiring collectors. It’s easy to see why many new to the hobby feel overwhelmed or disillusioned, unsure where to turn for accurate, reliable information.

By understanding the prevalence and root causes of misinformation, and recognising its impact, readers can prepare themselves to approach coin valuation more critically and avoid these pitfalls.

How to Evaluate Coin Values and Avoid BS with a Two-Step Approach

To safeguard yourself from falling for exaggerated claims, it works to have a structured approach. This guide introduces a practical two-step process to help you confidently assess coin values and make informed decisions.

Step 1: Assess the Source

The first and most critical step in your evaluation process is determining whether the source of your information has any credibility at all. Misleading or inaccurate data mainly comes from unreliable or biased sources, so it’s important to run the tape measure over where your information is coming from.

How to Identify A Reputable Source

1. On an Established Platform - Check to see if it is on a well-known website respected by collectors. (eBay auctions and YouTube videos don't count!)
2. By A Professional Association - An expert resource provided by a recognised institution or association in the field of numismatics IS credible. Members of credible organisations often signal reliability.
3. Licensed Dealers and Grading Services - Platforms tied to registered coin dealers or professional grading services are more likely to provide accurate and unbiased information.

Actionable Tip:

Check if the value is being provided by a recognised coin guide or appraisal tool. These sources typically provide clear benchmarks for assessing a coin's value, such as historical significance, rarity, and physical condition.

Red Flags to Watch For

• Information is shared by a random individual or channel without any established reputation in the coin collecting community
• The voiceover in a video sounds like it is AI-generated, this indicates a lack of expertise or authenticity
• The person or channel only posts about astonishing coin prices, focusing exclusively on sensational or unbelievable values
• Overly generic or vague claims, like “worth a fortune” without any specific details
• Website errors like poor grammar, unrelated designs being shown, or broken links—all signs of an unprofessional source

Actionable Tip:

Verify every new source with information from other sources. If a person or channel is the only one making a specific claim, treat the information with caution. If the only high prices you can see for that coin are from random sellers on eBay, take the values with a large grain of salt.

Step 2: Assess the Credibility of the Information

Once you’ve verified the source, the next step is to evaluate the accuracy and credibility of the information they provide. This makes sure you base your conclusions on well-verified details, rather than assumptions or incorrect estimations.

How to Verify Information Credibility

1. Look for Supporting Evidence Elsewhere

• • Quality sources will back up their valuation claims with data, such as auction prices for similar coins or reports from expert evaluations. One asking price alone isn't credible at all if there are many others for similar coins at much lower amounts.

2. Compare Multiple Sources

• • Consistent values across a range of sources strengthen the credibility of the claims. For example, if multiple coin guides and appraisal tools agree within a similar price range, it's likely a fair valuation.

3. Confirm Expert Credentials

• • When advice comes from individuals or channels, verify their expertise. Look for certifications, memberships in professional associations, or years of experience in the field. If they don't provide their name or given any information about their credibility, they're probably shonky!

Actionable Tip:

If the price you've seen is on eBay, check the seller first. If the valuation claim you've seen is in a YouTube video, look to see what other content that channel has posted.

Red Flags to Watch For

• Grandiose claims about a coin’s value without any information backing it up
• Overly positive or broad descriptions that aren't definite
• No sensible explanation of why the coin is valuable is provided

Actionable Tip:

If the information you've seen isn't credible, just disregard it.

Two Simple Steps - Verify the Source, then Check for Credibility

By following this two-step approach, you’ll enhance your ability to steer clear of the drongoes and pelicans that are trying to steal your attention and waste your time.

First - assess the source to make sure it is reputable and has no obvious red flags.

Second - assess the credibility of the information. Verify claims by confirming them elsewhere.

This method not only stops you from wasting time on wacky coin prices but also helps everywhere!