Coin Collections: How Atlanta Gold & Coin Values Coins Properly

Whether an insurance appraisal is needed, assets are being divided, or a coin collection may be sold, the coins should be evaluated and appraised carefully. Begin with a work area that provides ample space and strong lighting. Keep a magnifying glass nearby to inspect each coin’s fine details. Then review the collection one coin at a time, handling coins by their edges and preferably while wearing an Egyptian cotton glove, and record the following details.

Organize a Gold and Silver Coin Collection Carefully

A collection is generally easier to evaluate after it has first been organize your coin collection. A useful starting point is separating coins into categories by type—such as Lincoln cents, Indian Head pennies, Buffalo nickels, Mercury dimes, or Liberty Head gold coins—or by the metal from which they are made.

After choosing an organizational approach for the collection, catalog the individual characteristics of every coin, including its date of production, mint mark, and grade when it has received professional grading. When coins have not been certified, sorting them by condition can also be useful, with groups such as worn, average-condition, and high-end-condition examples.

Purchasing a magnifying glass or loupe, protective gloves, and other useful coin collecting supplies can simplify the work considerably while helping protect coins against damage.

Consider Professional Grading for Gold and Silver Coin Collections

In addition to rarity, a coin’s condition—or grade—can materially influence its value. When a collection is intended for sale, a dependable coin dealer can help determine whether the time and cost of professional grading are worthwhile.

In many situations, certification does not add enough value to exceed the cost of obtaining it, and it can simply postpone the sale of a coin collection. As an illustration, Atlanta Gold & Coin reported at publication that it purchased hundreds of thousands of coins annually, while submitting only a fraction of one percent of those coins for certification.

There are exceptions to that general approach, particularly for rare coins, error or variety coins, commonly counterfeited coins, and certain early U.S. issues, including those made before 1800. Professional grading may also make sense for a coin near a grading threshold when moving up one grade could add hundreds or thousands of dollars to its value.

Third-party grading services, or TPGS, are plentiful, although the original article identified two as standing apart. If certification and grading were chosen, Atlanta Gold & Coin recommended considering Numismatic Guaranty Corporation (NGC) or Professional Coin Grading Service (PCGS). At publication, the article stated that these firms had operated for roughly 35 years and held solid industry reputations.

The original article noted that many other TPGS were known for overgrading or inconsistent standards, neither of which would increase a coin’s value. Although it may be tempting, coins should not be clean your coins. Leaving them unchanged helps avoid harming the finish or adversely affecting assigned grades.

Have the Coin Collection AppraisedAt publication,

The following step is to obtain an appraisal for the items. When coins have been certified by an organization such as NGC or PCGS, documenting them and sending a spreadsheet to a coin buyer can make a preliminary sight-unseen assessment relatively straightforward. It is important to remember that a coin’s grade represents contact marks or wear, rather than the coin’s overall aesthetic appearance.

For coins whose value is difficult to locate, certification and grading through an independent grading company may be worthwhile. Two widely used choices are the Numismatic Guaranty Company (NGC) and Professional Coin Grading Service (PCGS). The article described both as nationally recognized firms with the expertise to help establish a coin’s or coins’ true value. Certification is not required in every case, but the service may help ensure that particular coins in a collection are valued appropriately.

For instance, a bright-white Morgan silver dollar can carry a different value from a toned or tarnished Morgan silver dollar. The same principle applies to gold coins, especially those struck before 1933. Many such coins have small concerns—including dirt, grease stains, rim dents, and red or brown spots—that can affect their value.

Compare Options Before Selling

When a person has already established a relationship with a local coin dealer, that relationship can provide a sensible starting point. The article advised making use of an existing history with local coin buyers and with dealers whose past transactions had been satisfactory. It suggested that there was no particular reason to expect future dealings to differ.

However, for people who wanted to conduct due diligence by contacting several coin collectors, the article advised checking a dealer’s standing first. It suggested reviewing relevant organizations and online reviews before moving forward. The third-party and recognized industry-standard sources named were the Better Business Bureau, the American Numismatic Association (ANA), and Roundtable Trading, along with the previously mentioned PCGS and NGC.

When this article was originally published, readers interested in selling a coin collection were invited to use these tips and work with an experienced, dependable coin dealer to pursue the strongest return. At that time, Atlanta Gold & Coin Buyers stated that its staff could provide a fair collection appraisal and discuss options for selling coins, bullion, and other items. The original article invited readers to schedule an appointment by completing our contact form that day or calling that day at 404-236-9744!