Appraisals for Coin and Currency Collections
United States Coins and Currency:
Your appraisal will be based upon current wholesale dealer prices. We obtain these prices through weekly published prices for United States coins and currency. Appraisals can be done at several locations including your home, bank vault room, or office. Prior to the appraisal being conducted, we will verify your home or business address through the telephone directory. In the event you have an extensive or extremely valuable collection, we can conduct the appraisal at a bank location in a private room.
World and Ancient Coins:
We appraise these types of coins and currency based upon our experienced opinions. In some cases there may need to be further research conducted to determine current value. These types of appraisals can be done at your home or office, provided that the address can be verified by the telephone directory.
Books, Antiques and War Memorabilia Items:
We have extensive knowledge in Coins and War memorabilia and will assist you in determining the values of these items. We also have expertise when it comes to appraising your antiques. However in the event we need to call in an expert, we do have other associates who work in specialized areas that can assist us with appraising your items at current market values. This research may require additional time.
Most collections of United States Proof, Mint or circulated coins can normally be done within one to two hours, providing they have been organized and sorted and organized as per our general instructions.
Our rate is $75 an hour for verbal appraisals and $175 an hour for detailed written appraisals and certified estate appraisals. There is a minimum charge of $175 for all written appraisals. Most collections of United States Proof, Mint or circulated coins can normally be appraised within one to two hours, provided they have been organized and sorted according to our general instructions.
Travel is billed at $ .58 per mile, to and from Palatine, Illinois, plus any tolls and parking. Armed escort service is available at $250 an hour, plus travel costs. If air-travel is required, we bill for Business Class Travel and moderate hotel expenses. If we can drive within in 1 hour to do an appraisal, travel costs billing to you would be minimal.
Selling Your Collection:
Once we have completed your appraisal, if you are interested, we will be happy to make you a fair offer for your collection. This offer would include the whole collection or just part of it. Unlike most appraisers who will make an offer for only the most popular items, we will make an offer to purchase the entire collection. Payment is normally made by check, drawn on US funds. When necessary, payment can also be made in cash, if prior arrangements have been confirmed and appropriate IRS requirements have been met.
If you decide to accept our offer for your collection within 180 days of our appraisal, you will be given full credit for the fee charged for the inventory and appraisal of the coins. However, travel time and expenses still apply.
If you would prefer to consign certain items, we can make recommendations on which items we would be willing to take on a consignment basis. Our consignment commission rate is 20%. We are insured in excess of $500,000 in the event of any loss. Once the items sell, full payment is made to you within 45 days. We can also suggest, based upon our opinion, any items that would benefit you by a third party certified grading service. We are authorized dealers for all certified grading services, PCGS, NGC, and PMG.
If you have extremely rare items, we can recommend the best auction source for the type of material you possess. We have close working arrangements with most major auction firms. We can also negotiate a favorable consignment rate and establish the proper reserve on your behalf for a nominal 5% fee, based on the “hammer” price.
The Decision to Selling your Families Collection:
In most cases, spouses or children will sell a parent’s or grandparent’s life-long coin collection to a pawnshop or estate liquidator for a fraction of its worth. While trust officers, estate planners and attorneys are experts in financial instruments and real estate, almost none of them have expertise in collectables. I have personally overheard numerous times a less than desirable outcome, or an unethical ethical dealer boast how they “scored” or “ripped-off” some great coins from a grieving relative. With our help, you will be far better prepared than most people facing the disposal of an estate that includes a coin or currency collection.
Most collectors enjoy their hobby so much that they plan to leave their collections to children, grandchildren or other relatives as part of their estate. That’s a great idea—IF the recipient is already a coin collector or at least, has minimal interest and knowledge in this area. Otherwise, it may be better to leave them a vintage automobile (even that may not be appreciated as much as it was by the original owner.) Unfortunately most collections are liquidated at a fraction of their value unless detailed instructions are left.
Coin collecting is a hobby; and only provides a marginal investment for most coin and currency collectors. If purchased at a fair market price, properly graded for condition, stored carefully in inert containers and left without being cleaned or chemically treated, most coins have averaged about a 4.5% increase a year during the previous twenty years.
Whether your decision is to keep the collection, or to prepare it for sale, please make sure to keep the collection safe and secure. It’s estimated that one in three collections can and will be stolen. If you have access to a bank safety deposit box, we suggest you store the collection in it, while you decide what you will do with it.