Coin Collection Appraisal: Preparation Tips

Coin collections are a popular way to invest time and money. In fact, coin collections can prove to be highly valuable if you know what to invest in. However, once you have a coin collection of any kind, you need to know the value of what you have. That starts with an appraisal. Here are a few things that you need to do with your coin collection as you get ready for that appraisal. 

Familiarize Yourself With Your Collection

If you don't know what you have, you will have no way to objectively assess the appraisal for accuracy. Before you take your coin collection to an appraiser, you need to take the time to go through it yourself.

If necessary, invest in a book to help you reference the coins. This way, you can easily spot anything of particular value in your collection. Price guides are available from many sources.

Sort Your Coins

The next step, once you know what you have, is to organize your coins accordingly. Sort out the highly valuable coins into one pile, the lowest value coins into another pile, and the mid-range coins into a third pile.

The highly valuable coins should be appraised individually because that is how you will likely sell them. The lowest value coins should be appraised as a lot. You will likely have to sell them that way to get any significant profit.

Authenticate The Valuable Ones

If you want to get the most possible from the higher value coins, you should have them authenticated. If you can show documentation of the authentication, including proof of ownership, condition assessment, and more, that pedigree will ensure that you get top dollar for the coins in question. 

Most collectors want to see certificates of authenticity for anything of marked value. And, getting this documentation can also give you some reassurance of the validity of your collection.

Gather All Of Your Records

The final step of preparing for your coin collection appraisal is to gather the paperwork for your entire collection. Any sales documentation, receipts, and other records you have for your coins will be important for chain of custody validation. 

These are some of the basic things that you need to do before your coin collection appraisal. Talk to a local appraiser today for more help and information. They can help you with the necessary preparation to ensure accurate assessments of each coin you have invested in as well as of your collection as a whole.