Get your own unique domain through Ecwid and give your customers an easy way to find you. Learn more →
Everything you need to sell online

Set up an online store in minutes to sell on a website, social media, or marketplaces.

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

11 min read

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

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

How to sell online
Tips from e-commerce experts for small business owners and aspiring entrepreneurs.
Please enter a valid email address

How to Appraise Your Coins Before Selling

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

Prepare your coin for appraisal

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

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

Find yourself a coin appraiser

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

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

Area of expertise

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

Their charges

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

The type of coins you have

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

Coin appraiser bias

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

Contact multiple coin appraisers

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

Charges

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

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

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

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

Appraising your coins get you a fair selling price

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

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

Numismatists know the right selling process

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

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

To assure buyers of coins’ quality

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

How to Sell Your Coins?

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

Local stores

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

Physical auction

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

Ecommerce platforms

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

Final Thoughts

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

 

Table of contents

Sell online

With Ecwid Ecommerce, you can easily sell anywhere, to anyone — across the internet and around the world.

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.

Ecommerce that has your back

So simple to use – even my most technophobic clients can manage. Easy to install, quick to set up. Light years ahead of other shop plugins.
I’m so impressed I’ve recommended it to my website clients and am now using it for my own store along with four others for which I webmaster. Beautiful coding, excellent top-notch support, great documentation, fantastic how-to videos. Thank you so much Ecwid, you rock!
I’ve used Ecwid and I love the platform itself. Everything is so simplified it’s insane. I love how you have different options to choose shipping carriers, to be able to put in so many different variants. It’s a pretty open e-commerce gateway.
Easy to use, affordable (and a free option if starting off). Looks professional, many templates to select from. The App is my favorite feature as I can manage my store right from my phone. Highly recommended 👌👍
I like that Ecwid was easy to start and to use. Even for a person like me, without any technical background. Very well written help articles. And the support team is the best for my opinion.
For everything it has to offer, ECWID is incredibly easy to set up. Highly recommend! I did a lot of research and tried about 3 other competitors. Just try ECWID and you'll be online in no time.

Your ecommerce dreams start here

We use cookies or similar technologies to maintain security, enable user choice and improve our sites. We also set cookies for marketing purposes and to provide personalised content and advertising. You can reject all non-essential cookies by clicking “Reject all.”