If you are holding onto a coin collection at home, you will not know its true value unless you schedule a coin appraisal. Whether you are planning to sell or are just curious, use the following guide to prepare for this process.

How Should You Prepare for a Coin Appraisal?

Never clean your coins before taking them to get appraised. Even light brushing could scratch the surface of the metal, permanently damaging them, which will result in a lower appraisal value.

Instead of throwing all your coins into a bag or box, separate them to reduce the risk of surface damage. Many coin collectors choose to keep theirs in a binder with individual, transparent slots, similar to baseball card binders. As you arrange the coins, make two separate groups to bring to the appraiser: those in decent or excellent aesthetic condition, and those with considerable damage. 

What Happens During the Appraisal Process?

When you approach a coin appraiser, let them know what your goals are; for example, are you hoping to sell the coin to a dealer or add it to your insurance policy? In some cases, they may offer to appraise the coin for free if you are interested in selling it to them. If you are requesting a formal appraisal, such as for a will or trust, they may offer a quote for their fee, which you will need to approve.

They will then investigate the minute details of the coin, including when and where it was minted (revealed in the mint mark and the date). They will also assess the coin’s condition.

If any mistakes were made during the minting process, such as the use of a double die, your coin might be worth more than its accurate counterparts. In some cases, the appraiser may suggest hiring a third-party grading service to authenticate more valuable coins.

Once a value is decided, the appraiser may offer additional information on how to care for your coins. If you would like to sell them to another collector, the dealer might be able to help broker the sale. 

If you have been holding onto some rare currency, head to Coins Plus in Cincinnati, OH, for a comprehensive coin appraisal. They have been buying and selling coins since 1972, and they are proud to be the city’s only "National Award Winning and PNG Dealer." Whether you have bullion, jewelry, coins, or furniture, call (513) 621-1996 to discuss your needs with an expert. You can also visit the website to learn more about their services.