Whether you have inherited a coin collection, are a collector yourself, or are an estate executor or attorney, the one thing you want to know about the collection is its value. That’s why knowing how to have a coin collection appraised is so important. You want to be sure of the coin collection’s value and know how to get the best offer if you intend to sell the collection.
Find the Right Appraiser
Finding a trusted appraiser is the first step to obtaining a fair coin collection appraisal. You should look for appraisers who are full-time professional numismatists or recognized authorities in the numismatic marketplace.
Additionally, you should look for an appraiser who is a member of the Professional Numismatists Guild (PNG). PNG members, like our own Dave Wnuck, heed to a strict Code of Ethics in the buying and selling of numismatic merchandise.
The appraiser you choose to do business with should have a record of honesty and fair dealing and have the financial resources to pay you what a collection is worth.
Determine the Type of Collection
The goal of most collectors and heirs is ultimately to sell the collection for as much as possible. So, the first step for any appraisal is to determine the type of collection you have. The type of collection you possess often determines the interest level of coin buyers. There are three types of collections:
- A Collector’s Collection: This collection is a group of coins primarily put together from buying coins at auctions or from coin dealers. The collector had a goal and purpose for the collection, and they likely spent serious time and money assembling it.
- A Coin Accumulation or Hoard: This type of collection includes coins gathered from garage sales, antique shops, and flea markets. These collections are usually made up of “interesting-looking” coins and coins pulled from circulation, like silver and other obsolete coins.
- A Collection of US and World Mints (and similar items): This collection includes mint sets, modern commemorative coins, and proof sets. Coins in this type of collection are often still in their original packaging. They can be acquired, for example, from late-night TV show infomercials or from telemarketers.
The type of buyers that you want interested in your coins are looking for a purposeful, well-chosen collection of around 20 – 50 truly rare coins. If your collection consists primarily of proof and mint coin sets, buyers will be less enthusiastic.
Contact Dave Wnuck Today
At Dave Wnuck Numismatics, LLC, we are experts in coin collection appraisals, including US coins and currency collections, rare silver and copper coins, colonial coins & currency, world coins and currency, bullion, and 90% US silver collections.
We have worked with many individuals to help them identify and realize their collection’s greatest value.