Are You Looking for an Appraisal on Your Silver Coins or Silver Bars?
Silver coin and silver bar appraisals are very important to ensure that you know the accurate and true value of your silver portfolio, especially if your silver coins and bars are rare or unusual.
First, ff you have a significant silver collection a regular appraisal is important for insurance purposes. You must report your collection to your insurance carrier at the time of any renewal. This will allow your agent to make sure you have proper coverage.
A loss via a fire or burglary can be devastating both financially as well as emotionally. While insurance cannot compensate for the emotional loss, at least it can compensate you for the financial loss you may suffer - if you are properly covered. Therefore it is quite important that a proper appraisal of your silver, and indeed, any other valuables you may have, is completed regularly to establish the true value of your collection.
So, how do you get an accurate appraisal on your silver? The Antique Roadshow cannot be everywhere so you will need to take your collection to a professional coin dealer. This precious metals firm should be a member of a respected coin association in your country of residence. Some companies like GMRgold.com can perform virtual appraisals via zoom or other similar software.
Generally, you will have to pay for an appraisal service, but the small amount you pay is worth it to get a proper assessment of the value on your collection. You will need to ensure that you get a written statement that fully describes each piece along with the estimated value as of the appraisal date. Some precious metals firms will appraise your collection for free. GMRgold.com often provides regular appraisal reports for their clients.
Appraisals often hinge on the condition and quality of the collection. Silver coins and bars are graded according to a specific system and your coin or bar will fall somewhere on that grading system. This system is easily found on the internet.
Lastly, keep in mind that coins in sets and proof coins generally are worth more than single coins. Your appraiser will give you guidance on these factors when evaluating your portfolio.
It pays to choose wisely when engaging an appraiser. It could mean the difference in mountains of money.