If you have recently found a coffee can of old coins in your deceased grandparent's closet and have set out on a quest to determine if they have any collectable value, then it is important for you to know all that you can about the coil appraisal process. Since coin collecting is a very complex hobby with many nuances, it is not always as simple as consulting a value guide or local auction house to determine a coin's value to collectors.
Follow these tips to find the value of your family's treasure:
Separate the Coins by Quality
If you have found a lot of coins, then you should separate them by their quality. While the visual quality doesn't necessarily determine a coin's value, obvious signs of wear and damage generally devalues coins significantly for collectors. Having coins appraised can also be a fee-per-coin project, so valuing the best coins is generally your best bet if you have to make this tough choice. Ultimately, it is always best to have all of the coins valued and graded if you have the resources to do so.
Have the Nicest Quality Coins Professionally Graded
There are many different firms around the country who you can mail your coins to and they will grade them and then return them to you. Grading refers to the process of determining how much wear coins have and what their condition is to collectors. Once your best coins have been graded, then you can take the collection to a professional coin appraiser to find out its market value.
Have Your Coins Appraised by a Professional
Before you decide to keep or sell your family's coin collection, first you should always have it professionally appraised. While coin appraisals are always a bit of an estimate rather than a solid price, this step will give you a general idea of the value of the collection you have. You can find coin appraisers online and in your local phone directory.
A Final Note About Selling Your Coin Collection
Finally, while it is perfectly acceptable to sell your family's found coins to the person that you have appraise them, before you settle on a price, you should first have a second independent appraisal. While you may need to pay extra for a second opinion, it will assure you that you are getter a fair price for your relative's coins and you will also know for sure exactly what you are selling.
To learn more, contact a company like American Precious Metals Inc.