Have you ever wondered how to go about appraising your coin collection?
Whether you just have one old coin or several, someday there will come a time when you want (or need) to find the true value of your coins.
Appraising a coin collection, especially if it contains rare and valuable coins, generally requires you to do a few things:
- Grade your coins
- Don’t clean your coins – that will lower a coin’s value
- Slabbing your coins will provide you a chance of getting the same price for them no matter to what dealer you sell
- Get an idea as to the value of your coins beforehand so you don’t get ripped off
- Get more than one appraisal so you have an “average” estimate — and take the better offer
I cannot overstress the idea of getting a general idea as to the value of your coins before actually getting an appraisal. If you don’t know what your coins are worth — roughly — then you risk getting an appraisal from an unscrupulous coin dealer who will snag away that $1,000 coin for $50.
Check out a current edition of a coin pricing magazine at your local news stand or bookstore to find out more about your coins’ values. Most of these price guides also have a basic guide to grading which will help give you a better idea as to what your coins may be worth.
