Coins Appraisal: How to Appraise Coins Before Selling

Coins Appraisal: How And Why to Appraise Your Coins Before Selling

Posted 4 years ago by Max Komonov

As桂a桂coin collector, knowing the桂value of桂your coins is桂important before you try to桂sell them. Knowing your coin value will allow you to桂get the桂best deal during sales. This is桂accomplished by桂doing a桂coin appraisal. Coin appraisal is桂the桂process of桂getting to桂know the桂value of桂your coins. It桂involves employing a桂numismatist to桂grade the桂coin in桂terms of桂its bullion and桂numismatic value.

The value of桂a桂coin is桂influenced by桂various factors, including its condition, age, material, and桂market demand. To桂help you deal with appraising your coins before selling, this article will introduce how to桂appraise your coins and桂why you should appraise your coins. It桂will also show you the桂necessary steps to桂sell your coins. Read on!

How to桂Appraise Your Coins Before Selling

Appraising your coins might look challenging due to桂the桂need f늡곶桂finding an桂authentic and桂trustworthy coin appraiser, and桂knowing the桂different types of桂coins you want to桂appraise. However, coin appraising is桂a桂simple procedure. Below are two steps you need to桂follow on桂how to桂appraise your coins before selling:

Prepare your coin f늡곶桂appraisal

First, it�셲 incredibly important to桂prepare your coin f늡곶桂an桂appraisal. You can organize your coin collection according to桂each coin�셲 mint year, image, currency, face value, 늡곶桂coin type. Below are some tips you should follow on桂preparing your coins:

If桂your coins are already in桂albums, leave them there. DO桂NOT try to桂remove them. This could damage them, which in桂turn will depreciate their value.
If桂your coins are in桂3桂ring binders and桂filled with plastic pages, leave the桂coins there.
Do桂not clean your coins if桂they are dirty.
If桂your coins are in桂hard plastic 늡곶桂box holders 늡곶桂labeled rolls, leave them inside.

Find yourself a桂coin appraiser

The second step is桂to桂. If桂you have a桂coin dealer you trust, they can help you appraise your coins f늡곶桂free. You can also find a桂licensed appraiser on桂the桂professional coin grading service 늡곶桂organization around you.

While getting a桂coin appraiser, it桂is桂important to桂note the桂following:

Area of桂expertise

Before selecting the桂right numismatist, you must make sure that they deal with the桂kind of桂coins you have. There are many types of桂coins based on桂value, age, rarity, etc. Consequently, there are many numismatists with different experiences in桂different types of桂coins. Therefore, you should carefully select the桂right one before choosing. Selecting the桂right one depends on桂the桂following

Their charges

Experts in桂one area tend to桂charge more since they are more knowledgeable and桂widely well-versed in桂a桂particular coin.

The type of桂coins you have

If桂you already know the桂type of桂coins you are dealing with, you should go桂f늡곶桂a桂numismatist that is桂an桂expert in桂such coins. However, if桂it桂is桂the桂opposite, you should go桂f늡곶桂generally specialized ones. Since the桂analysis of桂the桂numismatists is桂subjective, you can further go-to experts in桂the桂said coins.

Coin appraiser bias

After checking their experience level, you should watch out f늡곶桂possible bias 늡곶桂motivation when the桂numismatist is桂dealing with you. There is桂no桂foolproof method of桂detecting this. However, if桂the桂numismatist will buy your coins after appraisal, there is桂a桂high tendency f늡곶桂a桂bias which is桂majorly evident as桂a桂lower appraisal value. Therefore, it桂is桂better not to桂go桂f늡곶桂numismatists that will deal with you in桂terms of桂buying 늡곶桂selling coins after appraisal.

Contact multiple coin appraisers

You must also get multiple coin appraisers, as桂each one will have a桂different view on桂the桂value of桂your coins due to桂several factors. The value of桂the桂coin is桂the桂combination of桂the桂bullion value and桂numismatic value. The bullion value is桂constant, while the桂numismatic value is桂based on桂the桂coin appraiser. Therefore, you can confirm the桂exact value of桂the桂coin by桂using multiple coin appraisers.

Charges

Another important factor is桂the桂charges associated with coins appraising. Do桂not choose a桂numismatist that wants to桂charge f늡곶桂their services based on桂your coin value. Instead, work with a桂fee-based, hourly rate-based, 늡곶桂project-based appraisal. Also, set out the桂necessary conditions related to桂appraising your coins. For example, if桂traveling is桂involved, you must decide on桂the桂person to桂pay f늡곶桂such charges?

Why Do桂You Need to桂Get Your Coins Appraised before Selling?

You should contact an桂appraiser and桂appraise your coins before selling them online if桂you want to桂make a桂good profit. The appraiser will analyze the桂condition of桂your coins and桂give you the桂exact price you should sell them for. Numismatists know everything about coins and桂can tell you where it桂is桂better to桂sell this 늡곶桂that coin. Having a桂professional opinion on桂your hands, you can prove the桂quality of桂your coins to桂your future buyers.

Coin appraisal is桂an桂important step to桂take before selling your coins. Below are a桂few important reasons that deem the桂step necessary:

Appraising your coins get you a桂fair selling price

As桂a桂seller, unless you appraise your coins, you would not know if桂you got the桂fair price after you sell them. This is桂a桂common issue many coin collectors face after selling their coins. An桂appraisal by桂a桂professional numismatist can help you get the桂correct coin value of桂your collection and桂how much you should sell them.

Appraising your coins can also help you get higher profit when sold, as桂it桂will uncover the桂untapped profit potential of桂the桂coins you have.

Numismatists know the桂right selling process

There are many ways you can sell your coin collection. You can auction it, sell it桂in桂local stores, 늡곶桂sell it桂online through an桂ecommerce platform. Some coins will fetch a桂high price during auctions, while some will do桂well when sold in桂local stores 늡곶桂ecommerce stores. Therefore, with the桂analysis provided by桂the桂coin appraiser, you can often decide on桂the桂right selling process f늡곶桂your coins, thinking through which you think will fetch the桂best price.

Numismatists will have an桂idea of桂the桂newer services offered by桂PCGS and桂NGC, influencing the桂price. Therefore, appraising your coins before then will help you get the桂best in桂terms of桂profits.

To桂assure buyers of桂coins�� quality

Having your coins appraised will remove any桂doubt about the桂coin�셲 condition 늡곶桂authenticity. This goes both ways (seller and桂receiver). It桂removes the桂doubt on桂the桂value of桂the桂coin in桂terms of桂originality. For example, it桂will show whether the桂coins have been touched 늡곶桂not.

How to桂Sell Your Coins?

After appraising your coins collection, the桂next step is桂how to桂sell your coins. Below are the桂three common methods to桂sell your coins:

Local stores

This is桂the桂most common way of桂selling coins. There are a桂lot of桂local stores that deal with the桂selling and桂buying of桂coins. However, do桂note that local stores buy at桂a桂lower rate than others to桂make a桂profit. Therefore, they are the桂right options if桂you are trying to桂get rid of桂your coins fast. However, if桂you have valuable coins after appraisal and桂there are plenty of桂selling options, do桂not go桂f늡곶桂them.

Physical auction

Another way you can sell your coins is桂during a桂physical auction. However, this method of桂selling your coins is桂subject to桂the桂commission system. This means that the桂auctioning house will charge a桂percentage of桂the桂selling price (based on桂agreement) after a桂successful sale.

Ecommerce platforms

The rise in桂the桂use of桂ecommerce has led to桂a桂massive rise in桂online selling coins globally. Therefore, you do桂not need to桂worry about meeting the桂requirements of桂a桂local store and桂physical auctioning system before you sell your coins collection. Selling your coins using an桂ecommerce platform such as桂붚죕쳔, 늡곶桂, is桂the桂most profitable method of桂selling. All you need is桂your laptop 늡곶桂phone and桂an桂internet connection to桂get you started.

Final Thoughts

Coin appraising can be桂a桂challenging step when selling 늡곶桂buying any桂coin collection. However, it桂is桂an桂important step that provides many benefits before selling your coins. Therefore, this article discussed how to桂appraise your coins and桂the桂benefits of桂coin appraisal. Selling your coins using local stores and桂an桂auction system is桂good. However, f늡곶桂the桂best shopping experience, ecommerce platforms offer the桂best way of桂selling and桂appraising your coins. Based on桂this knowledge, you can easily appraise and桂sell your coins without ease.

桂

About The Author

Max has been working in the ecommerce industry for the last six years helping brands to establish and level-up content marketing and SEO. Despite that, he has experience with entrepreneurship. He is a fiction writer in his free time.

붚죕쳔