Did you inherit a coin collection? Don’t be so quick to assume your collection is just a bunch of junk that should be sold or given away. There can be real money in coin collections.
What is my coin collection worth?
There are many factors which go into determining the worth of your coins. This includes:
- Collector demand, also known as numismatic value.
- The condition of your coins.
- Whether these coins have been graded and validated. If the coins are stored in a clear case with a numbered label do not remove them. You will instantly devalue your coin.
- The coin’s history might play a role as well.
- The coin’s rarity.
If the coin is made out of gold or silver it has value at least equal to the value of the weight of the silver or gold. You can check current prices here. However, don’t assume a mere penny is worthless. A 1972/72 Lincoln Cent Double Die Obverse graded coin could auction for more than $10,000.
Never assume. Much goes into the valuation of coins. Our appraisers spot fakes, grade coins, and research the current collection value before selling them.
Should I clean my coins prior to auction?
Absolutely not. Cleaning your coins destroys their value. Collectors want coins in their natural state. It’s true a bright, shiny coin is more valuable…but only if it’s bright and shiny because it’s rarely been handled and has been protected to maintain that shine throughout its lifespan.
Cleaning also typically scratches the coin, degrading its value all the more.
Don’t think you can fool a serious collector. They will be able to tell.
However, you can and should remove any coins from any PVC sleeves they may be stored in. PVC reacts with coin metals to leave them irreparably damaged. The longer they’re left in the sleeve, the worse the damage. You really are better off having them in a coffee can (though if you really want to protect them you’ll get coin holders or display boxes which have been designed for this specific purpose).
Should I hold a coin-specific auction?
If you have a large collection, asking us to hold a coin-specific auction is a very good idea.
This allows us to appeal to serious collectors and specialists who are willing to pay top dollar. Those collectors often will not travel for an estate sale or estate auction. Because we have held such auctions we know how best to reach these collectors, which will allow you to make top dollar on your sale. We are also a trusted name in the industry, which means you won’t have to work as hard to convince collectors your coins are worth their trouble.
See also: Turning Coins into Dollars at Auction, The Guide to Valuable US Coins, and Gold Coins and Jewelry, or contact us to appraise your collection and prepare it for auction. You don’t want to learn that you gave a $100,000 coffee can full of coins to your 4-year-old nephew!