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What You Need to Know Before Getting Coins Appraised

Every coin collector wants to know the value of their collection.  But getting your coins appraised can be a lot of work.  To make the task less overwhelming, keep these five tips in mind.

coin collection, coin appraisal

1. Know Your Collection

It is worth investing in a standard coin price guide such as the Guide Book of United States Coins.  This reputable guide will inform you which coins are rare, as well as how much they are worth.  To get the most out of your collection, you will want to take the time to know it.  Novice coin collectors are often scammed or unfortunately, never receive their portfolio’s fullest potential for the mere reason that they don’t know a rare coin when they see one!  Doing your research pays off in the end.  No one knows coins better than the staff at Dane C. Olevian Numismatic Rarities in Pittsburgh.  For an honest appraisal or for answers regarding your collection, trust ONR, the city’s finest and most reliable coin dealer.

2. Sort Your Collection

Damaged coins are obviously not going to be worth as much as coins in good condition.  Take the time then to sort through and separate the ones that are damaged from the ones that are of higher quality. You can distinguish higher quality coins based on shape and color.  If a coin is bent or has been cleaned with jewelry cleaner, lemon juice, toothpaste, or other abrasive cleaners, it will be of lesser value than authenticated ones whose finish has not been altered.

3. Authenticate Your Collection

Validating your rare coins is an important step in getting your coins ready for an appraisal.  Experienced coin dealers and numismatists can usually tell a fake coin from an authentic one.  However, even their eyes can sometimes be deceived by counterfeit coins.  This is why most numismatists prefer to buy coins that have already been professionally authorized.   Find a respectable company that will authenticate, grade, and slab your coins.  “Slabbing” refers to placing the coins into a protective piece of plastic.  Doing so will ensure you get the highest appraisal possible for your precious coins.

4. Protect Your Collection

One of the biggest ways to protect your collection is to choose the right coin dealer to appraise your coins.  Oftentimes, the most surefire way to find a trusted dealer is to look for those who have been in the business the longest.  Nothing speaks higher than a company who has been around for more than ten years.  Their longevity proves their knowledge and capabilities.   To make sure a company is knowledgeable and honest, it is always wise to check with the Better Business Bureau.  If any complaints have been registered against the company, the BBB will have a record of it. Taking the time to check with them can save you a hassle and headache later in the appraisal process.  For the best buying/selling and appraisal options in the Pittsburgh area, call ONR at 1-844-667-2646 or fill out their online form to schedule an appraisal.

5. Sell Your Collection

Most people get their coins appraised because they want to know how much they could get for them should they decide to sell them.  It is recommended to always get a second opinion before selling your coins because you could get another figure that’s of higher value than the first appraisal was.