If you have been collecting coins, there will come a time when you think it is the right moment to have your coins appraised. The timing of your appraisal could be down tho market changes, personal situation, or perhaps because you are looking to sell some of your collection. Whatever your reasons are for having the value of your coins assessed, there are some tips which you should be aware of before you go ahead and have it done.
Many companies and individuals will offer a , and you could be sitting on some highly valuable items, before you make the call however, here is what you need to be considering.
Knowing Your Coins
It may sound pretty simple but you really should know as much information about your coins as possible, before they are appraised. You should know what kind of coins you have, where they are from, a rough idea of what they value could be, as well as any other sporting information about the coins. Very often if you are having your coins appraised by someone looking to sell, they may offer you a slightly lower valuation with the interest to buy afterwards, having an idea of price can help you to avoid becoming a victim to such practices.
Separate By Quality
Make this process as smooth as possible by separating your coins based on their quality. Here we are not talking about separating valuable coins from those with less value, it is a given anyway to say that a clean coin will be worth more than a damaged coin, but rather that you should keep the prettier coins separate from the damaged pieces. Naturally you will still want all coins appraised, but doing it in this way can ensure that the process runs easier.
Authentication of Rarities
If you have rare coins in your collection then it is worth investing the time and money to have them authenticated, slabbed and graded, before your appraisal. The reason behind this is that someone appraising a coin may not want to offer a value if the coin has not been fully authenticated, to avoid giving false hope. It is important to remember that coin collecting has been made much harder thanks to the many counterfeits in existence, and so authenticating your coins first can help to ensure that you are given the full value of the piece.
Always Get a Second Opinion
Even if the person appraising your coins tells you that you are sitting on a goldmine, it is always worth getting a second opinion, in order to get the most accurate value for your coin collection. As aforementioned there are some unscrupulous people who will give low valuations so that they can buy later, and there are some who may very well make mistakes. If you are having your coins appraised in order to sell them, definitely make sure that you seek a second opinion.