APPRAISAL GUIDE FOR COIN COLLECTIONS, CURRENCY, NUMISMATIC ESTATES, AND MONEY RELATED ITEMS
Appraisal Rates: There is no charge for consulting with you to determine if an appraisal of your collection is warranted.
Should an appraisal be necessary, we would give you our best estimate of the time required to complete the appraisal.
Generally it has been our habit to provide free verbal appraisals. However if the magnitude of the material for verbal appraisal is extremely extensive (for example boxes and boxes of material) we would charge our appraisal rate of $95 per hour.
If we purchase the collection no appraisal fee is charged.
Types of Appraisals: We provide verbal and formal written appraisals. Formal written appraisals are sometimes required by a court (usually an estate in probate court), and for insurance purposes, and many other reasons.
Courts generally want a liquidation (wholesale) valuation, whereas an appraisal for insurance purposes require replacement (retail) valuation. Occasionally a client desires an appraisal to determine the value for their own peace of mind and have no intention whatsoever to sell the collection.
General Instructions to Prepare a Collection for Appraisal
1) If coins are in albums, leave the coins in place and do not try to remove them. Some collections may be in 3 ring binders with plastic pages. Organize the pages by type, using the guidelines below.
Under no circumstance should you attempt to clean any coins in any way!
2) If coins are in hard plastic or boxed holders, leave them intact.
3) If coins are in rolls, and are labeled, leave them intact.
4) Organize loose coins by each type of coin by placing each type listed below into plastic baggies with a number count on a label or masking tape on each bag. Do not mix coin types within the bags. Sort as follows:
1) Lincoln, Memorial Reverse
2) Lincoln, Wheat Reserve
3) Indian Cents 1880 to 1909
4) Indian Cents prior to 1880
5) Flying Eagle Cents
6) Large Cents 1793-1857
1) Jefferson Head.
2) Buffalo or Indian Head (Full Date)
3) Buffalo or Indian Head (Partial Date)
4) Buffalo or Indian Head (No Date)
5) Liberty Head or V type
6) Shield Type
1) Roosevelt Head Prior to 1965
2) Lincoln or Mercury Head Dimes
3) Barber Head Dimes
4) Liberty Seated Dimes
5) Bust Dimes
1) Washington Head Quarters prior to 1965
2) Standing Liberty Quarters
3) Walking Liberty Half Dollars
4) Barber Head Quarters
5) Seated Liberty Quarters
E. Half Dollars
1) Kennedy Head Half Dollars prior to 1971
2) Franklin Head Half Dollars
3) Walking Liberty Half Dollars
4) Barber Head Half Dollars
5) Seated Liberty Half Dollars
6) Bust Half Dollars
F. Silver Dollars.
1) Eisenhower Dollars
2) Liberty Head or Peace Dollars
3) Morgan Dollars
4) Seated Liberty Dollars
5) Early Flowing Hair and Bust Dollars
G. World Coins
5) If any World Coins are in hard plastic, cardboard or boxed holders, leave them intact.
6) Organize loose World Coins into the following groups by placing each type listed below into plastic baggies with the number count on a label or masking tape on each bag.
A. Copper, Aluminum and Nickel coins after 1965
B. Copper, Aluminum and Nickel coins after 1900, but before 1965
C. Copper, Aluminum and Nickel coins after 1800, but before 1900
D. Silver coins after 1965
E. Silver coins after 1900, but before 1965
F. Silver coins after 1800, but before 1900
G. All coins dated between 1700 and 1800
H. All coins dated before 1700
I. Gold Coins
J. World Coin Proof sets and boxes should be lift in their original holders
7) All United States Proof, Mint and Commemorative Sets, envelopes and boxes should be left in their original holders, unopened and organized by year.
8) Tokens and Miscellaneous materials should be sorted separately by type.
9) Unfold paper money and place flat in an envelope, ensuring as few bends as possible to the note and its corners. (On very old paper, be very careful.)
10) Put all items that are unknown or unlisted above in a separate container.
11) If not at our office please provide us with a well-lighted, quiet area with a flat work space. Normally a desk, conference or boardroom table is adequate.
12) After the appraisal has been completed, it is best to keep it organized and labeled as we have specified until you make a decision concerning your plans for the collection.
13) Long-term storage can present a problem concerning the types of containers used. Some coin or currency containers will actually cause damage the longer it has contact with an item. We will advise you which storage containers are best and which containers should be discarded.
Whatever your decision is, be sure to secure the collection. It has been estimated that one in three collections will be stolen. Bank safety boxes, if available, are excellent for most valuable items.