Should I sell an inherited coin collection

Wyatt McDonald

Oct 1st, 2023 · 3 min read

It can be the most confusing of times. You’ve inherited a precious coin collection. Now what?

The options are seemingly endless. Do you keep it, store it, buy, sell, trade? Scour websites for the nearest coin dealer and check out for the first price they give you? Email 50 coin collectors across the U.S. and see who gives you the best price for your bullion coins?

These are just part of the series of questions faced by thousands of people regarding their collections every year. And not just those who have no idea what their coin collections are worth.

They’re more than just pieces of metal

Inherited coins mean more to most people than just an auction lot or something you haul to a coin show. There’s an emotional attachment and a story that goes beyond the types of coin, their pricing, grade, or quality.

It can be traumatic to see the Lincoln cent collection, quarters, dollars, or dimes reduced to items on a list or lined up for some anonymous grading service.

Here’s the thing – while everybody’s circumstances are different, there are several elements that every person has in common when reaching a decision.

At Coinfully, we want to make that decision-making process as simple as possible. And so here’s some quick tips to the main factors that will influence your decision.

  • Financial goals: Are you looking to make a cash profit from selling your collection? If so, you should research the current market value of your pieces and determine whether the potential sale price of your coins aligns with your financial objectives.
  • Market trends: Some coins appreciate over time, while others can head in the opposite direction. Making the effort to understand the coin market can help you predict whether your collection’s value is likely to increase or decrease. Know exactly what’s in your inventory and keep an eye on the gold, silver, and other metal markets to weigh up the best time to sell.
  • Condition and rarity: Well-preserved, rare items tend to command higher prices. If your collection includes those types of coins, it might be worth holding on to them for their antique value. A rare example is only likely to go up in value. The American Numismatic Association website has a wealth of information that can help you.
  • Timing: Crucial in any market, if you’re aware of any upcoming coin collecting events, trends or news developments that could affect the value of your coins, you might want to consider waiting or selling at a particular time. Is it a good time for a seller or is it a good market for buyers? It could just be that a collector is looking to make an investment in the right place at just the right time. Luck can often play a part!
  • Diversification: If a significant portion of your net worth is tied up in your coin collection, it might be worth diversifying your investments. Selling to a coin collector could give you the chance to get capital to invest in other assets.
  • Financial need: Consider your current financial situation. Are you facing a financial need that selling your collection could address? How much do you need the money? Are things that bad, are you out of options? Be cautious not to approach coin dealers out of necessity without thoroughly weighing the potential consequences as lowball values and a quick transaction might look more attractive to you.
  • Long-term vs short-term: Are you looking for short-term gains, or do you have an interest in holding onto your collection for the long-term? Your timeline can influence your decision.
  • Emotional attachment: Do the coins hold sentimental value for you? If your collection has personal significance or represents a cherished hobby, you might want to think twice about selling it. Sentimental value can often be worth more than monetary value. Selling to dealers or collectors can lead to future regrets.

What to do if you inherit coins

Joseph Bumgarner found himself facing that conundrum after inheriting coins from his late father. Here’s what Joseph had to say in a recent TrustPilot review:

“I inherited some gold coins from my father’s estate and needed to sell them. After reading reviews online, I decided to get an online appraisal from Coinfully, and I also took them to a reputable local dealer for a 2nd appraisal. Coinfully appraised my coins at a considerably higher value than the local dealer. Per instructions, I shipped my coins to Coinfully, and I had an electronic check in my email the day they received them. The whole process was super easy and stress-free, and their communication with me at each step of the process was extremely prompt. I have recommended them to my sisters who also inherited coins from our father.”

It comes down to a personal decision

Ultimately, the decision to sell your coin collection is a personal one. If uncertain, it’s certainly wise to consult with professionals in the numismatic field and take your time to weigh up every factor before making a final decision.

A numismatic expert will provide a range of valuable insight and understanding for every piece of your collection – a bridge to making the right choice. Armed with the relevant advice, you can happily take the next step – which might include:

  • Doing nothing. Store the coin collection safely and look at it again when you have more time.
  • Giving the collection to someone who would appreciate it.
  • Keeping the collection and adding to the content yourself.
  • Selling it for the right offer to the right buyer.

If you take the latter option, then look no further than ourselves. A free coin appraisal from Coinfully couldn’t be simpler, involving a friendly and informative discussion between you and one of Coinfully’s vastly experienced numismatic experts.

They will talk you through the details of your collection, equipped not only with thorough knowledge and experience of the value of what you have in your hand, but also precise knowledge of up-to-date market changes.

We’ve got the knowledge you need to make the right decision

We’ll answer any question on history, the marketplace, demand, the best real world opportunity to sell and the bottom line for your collection. Whether you’ve got a bag full of hundreds of old pennies, boxes of rare half dimes or unidentified silver coins, our process really couldn’t be easier.

Having weighed up all the relevant advice – there’s lots of online articles, information, and books out there – if you do then wish to sell, you simply ship your coins directly to Coinfully for a one-day turnaround – collection, validation, and payment dispatch.

Bear in mind as well that in some cases, and depending on the size of your collection, Coinfully will provide a concierge in-person coin appraisal service where they’ll travel to you to appraise your coins at your home.

We are here to help you every step of the way. Contact us now and GET A FREE APPRAISAL

Wyatt McDonald President & Co-Founder of Coinfully. A student of numismatics and trained in the ANA Seminar in Denver, Wyatt is the face of Coinfully and a true expert. After spending a decade buying coins over the counter at a coin shop, he knew there had to be a better way, for everyone involved.

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