Where to Get a Coin Appraisal

You may have been looking through your pocket change, and you noticed a coin that looked weird. When you looked at it more carefully, perhaps you discovered that it had a picture of a Roman on it. You did a little investigating, and discovered that you are now the owner of an ancient Roman coin. You assume it’s valuable, but you don’t know how valuable, so where do you go to get a coin appraisal?

Do Some Research

You want to get an honest coin appraisal, and if you’re a novice you don’t have any idea who would give you one. You can begin to get an idea of what your coin is worth by doing a little investigation on your own. Go to the library and check out a book on Roman coins, and find one that is similar to yours. Get on the Internet, check out websites, and find out what price people are asking for similar coins. That will give you a rough estimate of your coin’s value.

Before you get a coin appraisal, however, you need to know that you will get two different appraisals. The appraisals will tell you what the coin would cost to buy and what the coin is worth, and those two values are not the same thing. Another way to look at it is you need an appraisal of its worth, or what you would get if you sell it, and you need a coin appraisal of its replacement value, or what it would cost you to replace it. The replacement value will be higher—maybe twice as high—as the worth.

A Coin’s Value

A coin’s value is determined by its scarcity, the demand for it, and its condition. Coin collectors use the Sheldon Scale to determine condition, and it is a subjective scale. There are seventy points on the Sheldon Scale. When you get your coin appraisal, the value will be based primarily on scarcity and demand, but there is a range of values that depend on the condition of the coin.

Getting A Coin Appraisal

The best place to get a coin appraisal is at a coin shop. If possible, find a dealer who is a member of the Professional Numismatists’ Guild. Professional guilds have ethical standards for their members, and you are likely to get an honest coin appraisal from a member dealer.

You already should have an idea of how much your coin is worth, but it is still a good idea to get two or three coin appraisals. That way you will know how much to sell it for or, if you are keeping the coin, how much to insure it for.

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