What Should I Do with an Inherited Coin Collection?

When you inherit a coin collection but don’t know anything about coins yourself, it can be hard to decide what to do with them. Are they of mere sentimental value—or could they be worth significantly more? Determining the true value of a coin collection takes both knowledge of coins themselves as well as an understanding of what the current market will bear. Luckily, the coin collecting market has nowhere near the turnover that others (tech, for example) do, so you have plenty of time to arrange for a coin appraisal in Mill Valley, CA.

Who can appraise my coins?

Anyone can claim to be able to tell you what your coins are worth, but can you trust them? It’s important to choose the right appraiser—you need someone honest and trustworthy, and who has a good reputation in the numismatic community.

A good way to find a reputable appraiser is to check listings in professional coin collecting organizations, such as the American Numismatic Association or the Professional Numismatists Guild. Once you’ve located several dealers, check their online reviews (such as those found on Google and Yelp), as well as their rating with the Better Business Bureau.

Be sure to get several quotes so you have a better picture of your collection’s true value. Quotes can vary from dealer to dealer depending on their need as well as what they can afford to pay, but a good rule of thumb is that the more silver and gold content your coins possess, the more they will be worth. However, those prices will fluctuate daily depending on the current prices in the precious metals market.

If you’ve lucked out and you have some very rare or valuable coins in your collection, you’ll want to get them graded. That means the appraiser will evaluate the coins and assign them a grade based on industry standards.

Once you have names, grades and other information about your coins, you can start researching how much they sell for. Places like eBay are a good first stop to see what similar items may be selling for, but your appraiser will likely be able to give you an idea, too.

Finally, you could always choose to keep the coins. Whether you’re sitting on a goldmine or just the sentimental value of someone’s lifetime hobby, coin collecting is a satisfying endeavor for many. As you learn about your coins’ values, origins and other interesting facts, you may find that you’ll become a numismatic hobbyist yourself.

Get a coin appraisal in Mill Valley, CA

If you are interested in getting a better sense of your coin collection’s value, or want to sell it to a trusted authority, be sure to reach out to Collectible Coins & Jewelry. We are your local experts in coin appraisal in Mill Valley, CA. We conduct our appraisals in house, so you can rest assured that you are working with an honest and reputable company. To learn more, reach out to us or stop in today.

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