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It’s a common scenario: You inherited a coin collection from a loved one, and now aren’t sure what to do with it. Don’t worry – this guide will explain what to do with an inherited coin collection and go over all your best options.
First things first, comb through the coin collection to see if there is anything that you personally want to keep. Perhaps a specific coin catches your eye, or maybe there’s a medal that holds sentimental value for you.
In most cases, removing an item or two from a collection won’t hurt it’s resale value – that said, try to keep any sets complete.
Next, consider your three main options: Sell, keep, or re-gift to another family member or coin enthusiast.
In any case, your first step should typically be to get an evaluation. This will tell you what you’re working with in terms of value, and provide a great starting point for any next steps.
It’s tough to make an informed decision if you don’t know the value of your collection! A coin collection could be worth less than $100 or over $10,000 — you really don’t know until you get expert eyes on it.
How do you get your coins evaluated? Your local coin shop is a great option, so long as they have a good reputation. Most coin shops will evaluate coins for free, and prepare an offer to buy specific items or even the whole collection. There’s no obligation to sell.
If you’re hoping to sell inherited coins in Seattle or the surrounding area, come into Bellevue Rare Coins. We have convenient locations in Lynnwood, Issaquah, Bellevue and Tacoma.
If you live elsewhere, research reputable coin shops in your area – and call around to see what their process is like.
Depending on how much your inherited coin collection is worth, you can now decide whether it’s worth selling or not. Remember, a coin dealer may want to buy the whole collection, or just individual items from it. You can typically mix-and-match to decide what you want to sell and keep.
If you’re interested in coins yourself, you may want to keep the collection. Or, if you have someone else in the family that may be interested, you may wish to regift your inherited coins to another family member.
If you’re new to coins, there are a few things to keep in mind whether you keep or sell your collection:
Finally, don’t forget to enjoy your coins by examining them, sharing them with loved ones, and researching their unique histories! If you have a genuine interest in coins, it can be fun to attend coin club meetings or coin shows in your area.
