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Have A Bunch Of Coins You Need Appraised? Why You Should Separate Them Properly

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If you have been gathering coins for a while now, and just storing them in a safe place, you might wonder how it is that you go about getting them appraised. While you could just bag them up and take them to the appraiser, you could save time and gain more money by separating them. This guide explains which coins you should separate, how you'll save time, and how you can get more money when it comes time to sell them.

Which Coins to Separate

You don't need to know a lot about the coins that you currently have in order to separate them. Place all of your coins on the table and look at each one individually. Designate two spots on the table: one spot for coins that are pristine and another spot for coins that have some damage.

Check each coin individually to see how they appear to the naked eye. Coins that have any of the following issues should go in the damaged pile:

  • bends
  • cracks
  • rust
  • pits

Why Separation Saves Time

Depending on the amount of coins that you have, you could spend a long time at the appraiser's shop in an effort to determine how much the coins are worth. However, separating the coins beforehand allows the appraiser to go over the pristine coins first to provide you with an itemized list of their value.

The appraiser may have an idea of who is looking for specific coins, or they may wish to make you an offer on the spot. Depending on the amount of coins that you have, you'll save time and get your money quicker if the appraiser doesn't have to separate them for you.

Why Separation Can Get You More Money

Once your coin appraiser is finished looking at all of the pristine coins and provided a written estimate of their individual value, he or she will also look over the damaged coins as well.

Keep in mind that just because coins are damaged, it doesn't mean that they have lost all of their value. While you may a harder time selling damaged coins individually, many buyers purchase these coins in a lot, so you can get more cash. Your appraiser can give you a ballpark figure of how much money these damaged coin lots can bring you.

On a final note, be sure to check the current gold and silver prices. Your appraisal should match what the market says gold and silver is going for, depending on which metal your coins are.

If you plan to spend more time collecting and bringing coins in for appraisal, ask the appraiser if there are other ways that they would like you to separate your coins to make the experience easier and more enjoyable for both of you. For more information on coin appraisal, contact a business like Fullerton Coins & Stamps.