Before you sell, insure, or settle an estate, you need to know what your coins are worth. Here's how coin appraisals work, what they should cost, and how to find someone you can trust.
A coin appraisal is an informed opinion of value — an expert examines your coins and tells you what they're worth in the current market. That's it. It is not a promise that anyone will pay that figure, and it is not the same as an offer to buy.
This distinction matters. An appraisal reflects market value. An offer to buy is what a specific dealer will pay you today, and it's always lower, because the dealer has to resell the coin at a margin to stay in business. Both numbers are useful, but they answer different questions. If someone tells you a coin is "worth $500" and then offers you $500 for it, ask which number they actually mean.
Appraisals also come in two forms. A verbal appraisal is a quick spoken estimate — fine for deciding whether to sell. A written appraisal is a formal document listing each coin and its value, and it's what you need for insurance, estates, donations, or anything legal.
Not every coin needs a formal appraisal. Here's when one is genuinely worth getting.
Before selling a collection. An appraisal tells you the realistic value so you can recognize a fair offer and reject a lowball one. For anything beyond a few common coins, it pays for itself.
For insurance. To add a coin collection to a homeowner's or specialty policy, insurers want a current written appraisal with replacement values.
For an estate or probate. When a collection passes to heirs, a written appraisal establishes a value for tax purposes and for the estate's records.
To divide an inheritance fairly. If several heirs are splitting a collection, an appraisal gives everyone an objective number to work from instead of guesses.
For a charitable donation. Donating coins to a museum or charity above a certain value generally requires a qualified written appraisal for the tax deduction.
Appraisal pricing varies, and the way an appraiser charges tells you a lot about whether to trust them.
| Type | How it's charged | Best for |
|---|---|---|
| Free verbal estimate | No charge — often offered by a coin shop, especially if you may sell to them | Deciding whether a collection is worth selling |
| Flat-fee written appraisal | A set price for the job, or per coin for certified pieces | Small to mid-size collections needing documentation |
| Hourly written appraisal | An hourly rate for the appraiser's time | Large or complex collections that take real time to value |
| Percentage of value | A fee based on the total appraised value | Avoid — it rewards the appraiser for inflating the number |
Start with an established local coin shop. A long-running shop with a real storefront, regular hours, and reviews has a reputation to protect. Many will give a free verbal estimate, and some offer formal written appraisals for a fee. Browsing local coin shops and reading their reviews is the fastest way to find one.
Look for professional credentials. Membership in the American Numismatic Association (ANA) or the Professional Numismatists Guild (PNG) signals that a dealer has agreed to a code of ethics. For formal written appraisals, some appraisers also hold credentials from general appraisal bodies.
Get more than one opinion for anything valuable. If a single coin or collection seems significant, a second appraisal is cheap insurance against an honest mistake or a dishonest one.
Watch for red flags. Be cautious of anyone who pressures you to sell immediately, refuses to explain how they reached a value, charges a percentage of value, or gives a number so far above or below other estimates that it doesn't add up.
It's common — and perfectly reasonable — to get a free estimate at a coin shop and then sell to that same shop. There's nothing wrong with it. Just understand the incentive: when the appraiser is also the buyer, the figure naturally reflects what they would pay, not the top of the market.
That's exactly why getting estimates from two or three shops works so well. If you want a value that's independent of any sale, pay for a written appraisal from someone who isn't buying. For everyday selling decisions, a couple of free estimates and a little comparison shopping usually does the job.
Browse verified coin shops across the US and Canada. Look for listings tagged Appraisals to find one that values collections.
Find an appraiser near you →How much does a coin appraisal cost? It depends on the type. Many coin shops give a free verbal estimate, especially if you may sell to them. A formal written appraisal — the kind used for insurance or an estate — usually costs a flat fee or an hourly rate. Be cautious of any appraiser who charges a percentage of the collection's value, as that creates an incentive to inflate the number.
Is a free appraisal at a coin shop trustworthy? A free verbal appraisal from a reputable coin shop is genuinely useful for deciding whether to sell. Just remember the shop may also want to buy, so the figure reflects what they would pay. For insurance or estate purposes, get an independent written appraisal, and for selling, get estimates from more than one shop.
What's the difference between an appraisal and an offer to buy? An appraisal is an opinion of value — what a coin is worth in the market. An offer to buy is what a specific dealer will pay you today, which is lower because the dealer needs a margin to resell. Both are useful, but they're not the same number, and a good buyer will explain the gap.
Do I need a coin appraisal for insurance? Yes. To insure a coin collection, most insurers want a current written appraisal listing the coins and their replacement values. Appraised values drift as the market moves, so plan to refresh the appraisal every few years.
How should I prepare my coins for an appraisal? Don't clean anything. Bring the whole collection, including paper currency and items you think are worthless, since value often hides in overlooked pieces. Keep coins in their existing holders, and bring any paperwork, grading slabs, or purchase records you have.