Did You Inherit Your Late Spouse's Coins? 3 Tips To Get Started On Selling The Collection
Your spouse loved coin collecting, and you remember them spending hours searching for new ones and admiring their collection. Now that your spouse has passed away, you have the monumental task of trying to figure out how to sell the coins for what they are worth. Although determining the value of coins does get complicated, you can use these tips to get through the first steps of figuring out how to sell your coin collection.
Sort and Organize the Collection
The first thing you must do is figure out exactly which coins you have in your possession along with how many are in the collection. Coin collectors typically store their collections in several different places such as safety deposit boxes, vaults, and household safes. For this reason, you will want to do a thorough check of your property to make sure that you do not miss any coins. Once you are sure you have them all, you can sort them according to the denomination and year. Keep in mind that coins that your spouse already knew were valuable may be in special cases, and these should be left as they are.
Resist the Temptation to Clean the Coins
When you are wondering how to sell your collection, you may be thinking that it's best to make the coins really shine. However, cleaning the coins can actually lower the value since it may disrupt the surface and alter the color or the printing. Instead, wear clean, cotton gloves as you handle the coins, and be prepared to take them as they are when you are ready to have them professionally assessed.
Understand How The Value of Coins Is Determined
Naturally, you are wondering what your coin is worth, and the truth is that only professionals in the coin business know how to properly determine the value of a coin. Coins are typically valued according to several factors. For instance, a coin's mintage affects how many are still in circulation as well as its age. The grade or condition of the coin also makes a difference in the value, which is why you never want to clean them. Finally, certain coins are considered valuable because they are rare or have errors on them that make them unique. For this reason, you should always have coins with misprinted dates or double heads appraised.
When your spouse was alive, they loved putting together a legacy that they knew you could use later for its value. By knowing how to get started with selling the collection, you can feel good knowing that you received what the coins were worth.