Looking for a free coin appraisal?
Guide
Sending photos doesn't commit you to sell
Where can I get my coins appraised for free?
A formal, written appraisal for insurance, an estate or a donation comes from a paid appraiser. You can learn a lot about your coins for free.
1. What an appraisal is
An appraisal is an opinion of value, usually given in a signed, written report.
People get one for a purpose, such as insurance, an estate or a charitable donation. A value for insurance may be very different from one for estate taxes.
For many donations of property other than cash, the IRS requires a “qualified appraisal” by a “qualified appraiser”: someone with verifiable education and experience in valuing that kind of property. IRS Publication 561 explains the rules.
Whether you need an appraisal for taxes is a question for a tax adviser or attorney.
A grade is not a price.
2. Who does them and how they charge
Appraisers do. The American Society of Appraisers (ASA) says professional-quality appraisals are not free.
The ASA and the International Society of Appraisers (ISA) have online directories of their members. ASA specialties include coins.
Their guidance on fees:
- Fees are often by the hour or the day, a flat rate or a charge per item.
- The fee should not be a percentage of the appraised value. The ISA's ethics code forbids it, and the IRS rules for donations generally do too.
- Get a fee schedule or an estimate before work begins.
The ASA also tells consumers not to use an appraiser who offers to buy what they appraise.
3. What a grading service does
PCGS and NGC, two major grading services, check that a coin is genuine, grade its condition and seal it in a labeled holder. They charge a fee per coin, set partly by its declared value and how quickly you want it back.
A grade is not a price. It describes condition.
Neither service buys, sells or values coins. NGC says it leaves value to the marketplace.
4. Free ways to learn about your coins
Price guides list approximate prices, grade by grade. Free places to look:
- The Red Book, A Guide Book of United States Coins, the best-known U.S. coin guide. Many libraries have it. Use a recent edition.
- PCGS CoinFacts, free online, with prices, auction records and population reports.
- NGC's online price guides and its Census, also free.
- The American Numismatic Association's website, which answers common questions and lists local coin clubs.
A population report, or census, counts the coins a service has graded, by type and grade.
A guide helps only once you know the grade. The IRS cautions that only a trained grader can tell some grades apart, and that the difference in value between grades can be vast.
5. What we do instead
Looking for a free coin appraisal? Send photos and we'll talk it over, free. If it makes sense to go further, we'll arrange a time and place to see the items in person. Offers are made after inspection. That's an offer to buy, not a written appraisal for insurance or an estate.
Send photos here on our website or on our Facebook Page. Sending photos doesn't commit you to sell, and you can turn down any offer. We pay cash.
