Receiving a collection of old coins is a fantastic inheritance. There’s a rich history behind each of these collectibles that can be fascinating to learn about. But if you don’t plan on keeping the collection, you can sell it for cash. Rather than turning your inheritance over to the first buyer, use these helpful do’s and don’ts to maximize your return.

Do:

Create an inventory.

Creating a detailed inventory makes appraising and selling the collection much easier. Make a spreadsheet that contains the year, mintmark, and denomination of each coin inherited. Sharing this with potential buyers will enable them to make realistic offers for the collection.

Store them safely.

Old coins need to be kept in a dry, cool area with steady humidity to avoid degradation. For additional protection, keep them in specialized containers, such as foldable 2x2 cardboard holders, which are scored down the middle to wrap around the coin.

Get multiple appraisals.

The value of collectible coins varies, so have multiple appraisers assess your collection to get the best price when selling. Conduct preliminary research online for a basic idea, then take the coins to a couple of certified appraisers. Compare the valuations to decide on a fair listing price.

Don’t:

Handle them too much.

The slightest damage will lower a coin’s value, so avoid handling the collection. If you have to move the coins, don’t touch them on their face. The natural oil and dirt on your skin will tarnish their surfaces. Hold them by the rim with your thumb and index finger, preferably with gloves.

Clean the coins.

A collectible coin should never be cleaned unless it’s by a trained expert. Doing so damages the face and removes the patina, or the sheen developed because of age and wear, which drastically reduces the coin’s value.

Set unrealistic expectations.

There’s plenty of misinformation regarding the value of collectible coins online. Even professional appraisals are simply what the estate coins are valued at and not what buyers have to pay for them. Keep this in mind when selling the collection.

If you want to sell your inherited coin collection, take it to the experts at Hawaiian Islands Stamp & Coin in Honolulu. For almost 50 years, these trusted collectors have bought and sold gold, silver, and collectible old coins. They’ll perform a professional valuation of your collection and pay you in cash. Call (808) 531-6251 to make an appointment, or visit them online for more information on their services.