Collectible coins are categorized based on historical significance, rarity, condition, and demand among collectors. The Sommer Islands, known today as Bermuda, issued coins in the early 17th century, with the 1616 coinage being among the first European currency minted in the New World. The coins from this period, including the 3P denomination, are valued for their historical context and craft, representing an important era in the development of colonial currency in the United States and beyond. Collectors often seek these coins for their unique designs and contributions to numismatic history.