If you are in possession of rare coins, you should be aware of their value. A coin appraisal is a valuable tool for collectors and sellers alike. When considering an appraisal, you might have some questions about the process and benefits. Here are the answers to some of the most common questions about getting your coins appraised.

A Guide to Coin Appraisals

Why should I have my coins appraised?

A professional coin appraisal tells you the current market value of your coin. This information can be used for a variety of reasons. If you are insuring your coins in the event of theft, your insurance company will cover the costs of replacement with physical proof of value. 

Those who wish to sell their coins will be more likely to get the best deal possible. Being knowledgeable about your collection is essential for those interested in trading as well. If you inherited a rare coin or are passing it down the family line, you might want to know what it is worth.

How do I find a reliable coin appraiser?

When having a coin appraisal done, it is critical that you go to the right person. Look for a coin dealer and numismatic expert with a good reputation and positive online reviews. They must be open to providing client testimonials, answering questions about their experience, and respectful of your choice to shop around. A professional will never pressure you into selling the coin or try to make a deal with you before the appraisal. They should also be able to provide an explanation of how they arrived at the price they quoted you.

What factors do appraisers look for?

The value of a coin is determined by several factors, including mintage, condition, material, the year it was produced, and market demand. In most cases, the rarer the coin, the higher the value. 

Perhaps the most important influencing factor is the mintage of the coin. If there was a small initial supply, your coin will be worth much more. Uncirculated and undamaged coins are considered more valuable than circulated coins, but defects such as off-center strikes and misspellings will get you a significantly higher quote. Highly sought-after base metals such as gold, silver, and copper can also increase value.

What can I expect from the process?

Once you choose a reputable coin dealer, they will thoroughly examine your piece or collection. In order to make the process easier, try to organize like coins and create separate groups for especially rare or valuable pieces. The appraiser will look for the year and ensure the inscriptions and design are easy to read. When they arrive at a quote, they will record the year, name, and value of the coin for your records.
 

For professional coin appraisals from award-winning numismatists, come to Coins Plus of Cincinnati, OH. Since 1972, these trusted coin dealers have proven themselves to be experts in their field. They regularly contribute to Redbook and Bluebook publications and attend major national shows, so you can rest assured they will arrive at the most accurate, fair value. Visit their website to learn more about their experience with coin appraisals. To schedule an appointment, call (513) 621-1996.