Inheriting a coin collection can feel overwhelming—especially if you’re not familiar with the world of numismatics. Whether you’re holding onto a box of old pennies or a carefully curated collection of silver and gold coins, understanding their value is key. If you’re asking yourself how to get an accurate appraisal for your inherited coin collection, this guide will walk you through every step—from organizing your coins to choosing a qualified appraiser.
Getting an accurate coin appraisal ensures you don’t sell for less than your collection is worth and protects you when it comes to taxes, insurance, and estate planning.
Why You Need a Professional Appraisal for Inherited Coins
Many inherited coin collections have been built over decades. Some may include rare or valuable pieces, while others may primarily contain common coins with modest value. Either way, an accurate appraisal helps you:
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Understand the fair market value
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Make informed decisions about selling, keeping, or insuring the collection
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Protect against lowball offers or misinformed advice
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Fulfill legal or tax obligations for estates and inheritances
What Is a Coin Appraisal?
A coin appraisal is a detailed evaluation of a coin or collection’s value, performed by a knowledgeable professional. A proper appraisal will:
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Identify each coin by date, mintmark, and denomination
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Assess the grade (condition) of each coin
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Determine authenticity
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Estimate current market value based on rarity, demand, and condition
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Provide a written report, if requested
Reputable appraisers use industry standards, such as the Sheldon grading scale, and rely on current data from auctions, price guides, and market demand.
How to Get an Accurate Appraisal for Your Inherited Coin Collection
Here’s a step-by-step guide to ensure you get the most accurate, trustworthy evaluation of your coins.
Step 1: Organize Your Collection
Before you approach a professional, take time to sort and organize the coins:
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Group coins by denomination (e.g., pennies, nickels, quarters)
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Separate coins by country and metal type
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Note any coins in special holders, albums, or certified slabs (e.g., PCGS or NGC)
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Avoid cleaning or altering the coins—this can destroy value
This prep work helps the appraiser work more efficiently and can lower your appraisal costs.
Step 2: Do Some Initial Research
You don’t need to be an expert, but some basic knowledge helps:
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Look up common coin values using the Red Book (A Guide Book of United States Coins)
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Use websites like NGC or PCGS Price Guide for current market trends
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Check recent eBay sold listings to get a rough sense of what similar coins sell for
This helps you spot obvious high- or low-value coins and prepares you for pricing conversations.
Step 3: Choose the Right Type of Appraisal
There are two main types of coin appraisals:
Verbal Appraisal
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Usually free or low-cost
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A quick overview of value (ideal for deciding whether to sell or hold)
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Less detailed, no written documentation
Written Appraisal
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Provides a detailed, itemized report
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Useful for legal, tax, or insurance purposes
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Often charged by the hour, per coin, or as a flat fee
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Costs typically range from $50 to $200+, depending on the collection size
Make sure to clarify upfront what type of appraisal you need.
Step 4: Find a Reputable Coin Appraiser
To get a truly accurate appraisal, work only with qualified professionals. Look for:
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Membership in the American Numismatic Association (ANA) or Professional Numismatists Guild (PNG)
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Experience with estate appraisals or inherited collections
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Strong online reviews or referrals
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Transparency about pricing and process
Avoid pawn shops or “cash for gold” stores unless you’re just selling common bullion—they usually don’t have the expertise needed for numismatic value.
Step 5: Request a Transparent Evaluation
A trustworthy appraiser will:
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Explain their evaluation process
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Discuss any coins of particular interest or value
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Identify whether any coins are counterfeit or altered
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Provide a verbal or written estimate with no pressure to sell
Don’t be afraid to ask questions like:
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“What makes this coin valuable?”
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“How did you determine this price?”
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“Would you recommend getting this coin certified?”
People Also Ask
How do I know if my inherited coin collection is valuable?
Look for silver or gold coins, coins from before 1965, proof or uncirculated coins, and coins in original holders or slabs. Rare dates and mintmarks may also indicate value.
Can I get a free coin appraisal?
Yes, many coin dealers offer free verbal appraisals. However, formal written appraisals—required for estate or insurance purposes—often come with a fee.
Should I get my coins graded before selling them?
If you have coins that are in excellent condition or are key dates, grading by PCGS or NGC may significantly increase their value. A professional appraiser can advise you.
Where can I get my inherited coins appraised?
Try local coin shops, numismatic shows, or reputable online dealers. Be sure to choose professionals with coin grading experience and a solid reputation.
Common Mistakes to Avoid When Getting an Appraisal
To protect your collection’s value and ensure you’re treated fairly, avoid these common errors:
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Cleaning the Coins – Cleaning lowers value and can make coins ungradable.
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Rushing to Sell – Take time to get multiple opinions if necessary.
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Selling to the First Offer – Compare offers and appraisers.
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Assuming All Coins Are Valuable – Most collections contain both common and rare coins.
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Ignoring Certified Coins – Slabbed coins (graded by PCGS/NGC) are often more valuable.
Should You Sell or Hold Your Inherited Coins?
Once you know what the coins are worth, you have three main options:
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Sell the Collection – Great if you need immediate cash or don’t have interest in the hobby.
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Keep and Insure It – Ideal if the collection has sentimental or long-term investment value.
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Grade or Add to It – If you’re considering becoming a collector, this is a great starting point.
A professional appraiser can guide you through these choices with an objective perspective.
Final Thoughts: How to Get an Accurate Appraisal for Your Inherited Coin Collection
If you’ve inherited a coin collection, don’t rush into selling it blindly. Learning how to get an accurate appraisal for your inherited coin collection is the first step toward making an informed, confident decision. Whether you plan to keep it, sell it, or pass it on, a trustworthy appraisal helps you understand what you truly have—and what it’s worth.
Need Help Appraising Your Inherited Coins?
Our expert appraisers specialize in inherited and estate coin collections. We offer free consultations, transparent evaluations, and optional written reports—so you can make the right decision with confidence.
Contact us today to schedule your coin appraisal and get the clarity you need.