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If you’ve recently inherited a rare coin collection from a family member or close friend, you may be feeling overwhelmed right now by the task at hand. You did not intentionally become a coin collector and do not plan on pursuing this hobby in the future, so now you have to sell items you know little about. Fortunately, you are not alone. As experienced coin buyers in MA, we can help you organize and value your old estate coin collection. Follow these tips for preparing your coins for sale.

Gather & Organize Your Coins

Before you can get an accurate estimate of the worth of your inherited coin collection, you will need to move the entire collection and any supporting inventory and cataloging documents into one place. Be sure to do this in secrecy to avoid theft and use proper coin collecting supplies to minimize the amount of damage done to the coins during transportation.

Once the coins are all in the same place, you will want to start organizing them. The person you inherited the rare coins from may have already started this process for you.

Separate the collection into similar coins, sets, and paper currency. Then, separate the coins by denomination (ex., separate silver dollars into Trade silver dollars, Peace silver dollars, and Morgan silver dollars). Place any loose coins in coin tubes, folders, or albums. If the coins are already in cases or albums, leave them there because it’ll be easier for a coin shop to price them when they are in the protective case.

Don’t Clean Your Rare Coins

As you are organizing your collection’s coins, resist the urge to clean them, even if they are dirty! Coin collectors highly value the natural patina on the coins. You do not want to alter it in any way. Only handle the coins to organize and identify them.

Identify & Value Your Coin Collection

Now that your estate coin collection is organized, it’s time to figure out which types of coins you have. You will need a resource guide on United States coins to get started. A Guide Book of United States Coins: The Official Red Book is a popular choice among collectors.

As you go through these books identifying your collection, make sure you note or set aside rare and highly valuable coins. In fact, it’s best to create a catalog of the entire collection. You can do this on paper if the collection is under 100 coins. If the collection is substantial, you may want to create a spreadsheet on your computer.

After inventorying your collection, you should estimate how much your coins are worth. Use a pricing guide, like the Red Book mentioned above, to determine each coin’s value. Just remember that the prices listed in these guides are estimated retail prices, so the amount you will receive from a coin buyer will be 30% to 50% less than this price.

Sell Your Coin Collection

Once you have an idea of what your estate coin collection is worth, you can bring your collection to us! We’ll accurately value your collection and give you cash for your rare coins on the same day if you decide our estimation is reasonable. If you’re ready to sell your estate coin collection, turn to our shop today!