Appraisily

September 29, 2023

Finding Old Currency Appraisal Services Near You: A Comprehensive Guide

Learn how to find reputable old currency appraisal services in your area, understand valuation factors, and get fair prices for your rare coins and paper money.

Vintage coins and paper currency being examined by a professional numismatist during an appraisal session
By Appraisily Team Last updated September 29, 2023

Introduction

Discovering old coins or paper money can be exciting, especially when you suspect they might be valuable. Whether you’ve inherited a collection, found old currency in storage, or are a dedicated collector looking to understand the value of your items, getting a professional appraisal is a crucial step.

Finding a reputable old currency appraisal service near you can be challenging if you don’t know where to start. This comprehensive guide will help you understand how to locate trustworthy numismatists, what to expect during an appraisal, and how to ensure you receive a fair valuation for your rare coins and paper money.

<h2 class="section-header__title"> 
<span>Why Professional Currency Appraisal Matters</span>

</h2>

<div class="section-header__body">Having your old currency professionally appraised provides accurate valuation, authentication of rare pieces, and expert insights into historical significance.</div>

When it comes to old currency, values can range from face value to thousands of dollars depending on rarity, condition, and historical significance. A professional numismatist has the expertise and resources to properly evaluate your items and provide an accurate assessment of their worth.

Professional appraisals offer several key benefits:

Benefits of Professional Currency Appraisal

  • Accurate Valuation: Experts can assess the true market value based on current trends

  • Authentication: Verification that your currency is genuine, not counterfeit

  • Historical Context: Understanding the historical significance of your items

  • Insurance Documentation: Providing proof of value for insurance purposes

  • Selling Guidance: Expert advice if you decide to sell your collection

<h2 class="section-header__title"> 
<span>How to Find Reputable Currency Appraisers Near You</span>

</h2>

<div class="section-header__body">Several reliable resources exist to help you locate qualified numismatists and coin dealers in your area who offer professional appraisal services.</div>

Finding a trustworthy appraiser is crucial to getting an accurate valuation. Here are several proven methods to locate reputable currency appraisal services in your area:

1. Professional Associations and Directories

Several organizations maintain directories of certified numismatists and coin dealers:

  • American Numismatic Association (ANA): The ANA Coin Dealer Directory helps collectors find certified coin dealers across the nation.
  • Professional Numismatists Guild (PNG): Maintains a list of members who adhere to a strict code of ethics.
  • Better Business Bureau: Search the BBB directory for accredited coin dealers with positive ratings.

2. Online Dealer Locators

Many reputable organizations offer dealer locator tools:

  • NGC Dealer Locator: The Numismatic Guaranty Corporation provides a searchable database of coin dealers by location.
  • PCGS Authorized Dealer Directory: Professional Coin Grading Service maintains a list of authorized dealers who can help with appraisals.

3. Local Resources

Don’t overlook these local options:

  • Coin Shows and Expos: These events attract dealers and appraisers from across the region.
  • Auction Houses: Many auction houses specialize in numismatics and offer appraisal services.
  • Local Coin Shops: Established coin shops often provide free or low-cost appraisals.
  • Antique Malls: Some antique centers have dealers who specialize in currency.
<h2 class="section-header__title"> 
<span>What to Look for in a Currency Appraiser</span>

</h2>

<div class="section-header__body">Selecting the right appraiser requires careful consideration of their credentials, experience, and ethical standards to ensure accurate valuations.</div>

Not all currency appraisers offer the same level of expertise or ethical standards. Here are important qualities to look for when selecting an appraiser:

Appraiser Qualification Checklist

Key factors to consider when selecting a currency appraiser

  • Professional certifications from recognized numismatic organizations
  • Membership in professional guilds like PNG or ANA
  • Positive reviews and testimonials from previous clients
  • Years of experience in numismatics
  • Transparent pricing for appraisal services
  • Knowledge of your specific type of currency
  • No pressure to sell during the appraisal process
  • Written appraisal documents provided

Red Flags to Watch For

Be cautious of appraisers who:

  • Offer to buy your items immediately after providing a low appraisal
  • Refuse to put their appraisal in writing
  • Cannot provide references or credentials
  • Use high-pressure sales tactics
  • Charge excessively high fees for basic appraisals
<h2 class="section-header__title"> 
<span>The Currency Appraisal Process</span>

</h2>

<div class="section-header__body">Understanding what happens during a professional appraisal helps you prepare properly and get the most accurate valuation for your old currency.</div>

Knowing what to expect during the appraisal process can help ensure you receive an accurate and fair valuation. Here’s what typically happens:

The Currency Appraisal Process

  1. Step 1

    Initial Contact

    Contact the appraiser to schedule an appointment. Discuss fees, location, and what information you'll need to provide about your collection.
  2. Step 2

    Preparation

    Organize your currency by type, denomination, and era. Keep coins in protective holders if possible, and handle paper money carefully to prevent further damage.
  3. Step 3

    Examination

    The appraiser will carefully examine each piece, noting dates, mint marks, condition, rarity, and other factors that influence value.
  4. Step 4

    Grading

    For coins, the appraiser will assign a grade based on the Sheldon Scale (1-70). Paper money is graded on a similar but distinct scale.
  5. Step 5

    Valuation

    The appraiser will provide current market values based on recent sales, auction results, and reference guides.
  6. Step 6

    Documentation

    You should receive a detailed written appraisal that includes descriptions, grades, and estimated values for insurance or selling purposes.

Tips for a Successful Appraisal

  • Be present during the appraisal when possible
  • Ask questions about how values were determined
  • Request explanations for any terminology you don’t understand
  • Take notes during the appraisal process
  • Consider getting a second opinion for very valuable pieces

Rare coins being examined and graded during professional appraisal

<h2 class="section-header__title"> 
<span>Factors That Affect Currency Value</span>

</h2>

<div class="section-header__body">Several key elements determine the value of old coins and paper money, from condition and rarity to historical significance and current market demand.</div>

Understanding what makes currency valuable can help you better appreciate the appraisal process and the valuation you receive:

For Coins

Key Value Factors for Coins

Elements that significantly impact coin values

  </tbody>
</table>

For Paper Money

Key Value Factors for Paper Currency

Elements that significantly impact paper money values

Category Price Notes
Condition/Grade 20-300% variation Higher grades command premium prices
Rarity 10-1000% premium Low mintage numbers increase value
Mint Marks 10-500% variation Certain mint locations are more valuable
Date Varies widely Key dates command significant premiums
Errors 10-10000% premium Mint errors can be extremely valuable 
  </tbody>
</table>

The collectible currency market fluctuates based on:

  • Collector Demand: Popular series like Morgan dollars often command premium prices
  • Precious Metal Content: Gold and silver coins have intrinsic value beyond collector value
  • Economic Conditions: Uncertain economic times often increase demand for rare currency
  • Media Attention: High-profile auctions can increase interest in specific types of currency
<h2 class="section-header__title"> 
<span>Getting Your Currency Appraised Online</span>

</h2>

<div class="section-header__body">If local options are limited, online appraisal services can provide valuable insights while offering convenience and access to specialized experts.</div>

When in-person appraisals aren’t practical, several online options exist:

Virtual Appraisal Services

Many reputable dealers now offer virtual appraisals through:

  • Video Consultations: Show your items via video call for preliminary assessment
  • High-Resolution Photo Submissions: Send detailed photos for review
  • Online Appraisal Forms: Submit information about your collection for estimate

Online Resources for Self-Assessment

While not a replacement for professional appraisal, these resources can help you get started:

  • CoinAppraiser.com: Offers price guides and valuation tools
  • PCGS CoinFacts: Comprehensive database of coin values and information
  • NGC Coin Explorer: Reference library of coin images, auction prices, and specifications
  • Heritage Auctions Archives: Past auction results provide insight into current values

Collection of historic bank notes displayed for online appraisal

<h2 class="section-header__title"> 
<span>Selling Your Old Currency After Appraisal</span>

</h2>

<div class="section-header__body">If you decide to sell after receiving an appraisal, understanding your options can help maximize your return and ensure a positive experience.</div>

After getting an appraisal, you may decide to sell your old currency. Here are the most common selling options:

Coin Dealers and Currency Specialists

Pros:

  • Immediate payment
  • No selling fees
  • Expertise in valuation

Cons:

  • Typically offer wholesale prices (60-80% of retail value)
  • Limited negotiation opportunity

Auction Houses

Pros:

  • Potential for highest returns
  • Expert marketing to reach collectors
  • Professional handling and documentation

Cons:

  • Commission fees (typically 10-25%)
  • Longer timeframe to receive payment
  • No guarantee of sale price

Online Marketplaces

Pros:

  • Direct access to collectors
  • Potentially higher returns than dealer offers
  • Wider audience reach

Cons:

  • Fees and shipping costs
  • Potential for fraud
  • Time investment in listing and communication

Coin Shows and Conventions

Pros:

  • Multiple buyers to compare offers
  • Immediate payment
  • Opportunity to learn from experts

Cons:

  • Typically requires travel
  • May be intimidating for beginners
  • Seasonal availability

Recent Notable Currency Auction Results

Examples of significant sales that illustrate the potential value of rare currency

Category Price Notes
Condition 20-500% variation Crisp, uncirculated notes are most valuable
Serial Numbers 10-1000% premium Unique, low, or special patterns command premiums
Date/Series Varies widely Older issues often more valuable
Type Varies widely Gold certificates, national bank notes more valuable
Signatures 10-200% premium Rare signature combinations increase value 
  </tbody>
</table>
<h2 class="section-header__title"> 
<span>Tips for Getting Honest Appraisals</span>

</h2>

<div class="section-header__body">Protect yourself from undervaluation or fraudulent practices by following these expert recommendations when seeking currency appraisals.</div>

Getting an honest and accurate appraisal requires some preparation and awareness:

  1. Separate Appraisal from Sales: Consider using an independent appraiser who doesn’t have an incentive to undervalue your items.

  2. Get Multiple Opinions: For valuable collections, consider getting appraisals from 2-3 different sources.

  3. Do Some Research: Familiarize yourself with basic values of your currency before the appraisal.

  4. Document Everything: Take photos of your collection before submitting it for appraisal.

  5. Ask for Explanations: Don’t hesitate to ask why an item is valued at a certain amount.

  6. Review Credentials: Verify the appraiser’s qualifications and professional affiliations.

  7. Get it in Writing: Always request a written appraisal that includes:

    • Detailed descriptions of each item
    • Condition assessments and grades
    • Estimated retail and wholesale values
    • Appraiser’s signature and credentials
    • Date of appraisal

Common Questions About Old Currency Appraisal

How do you appraise old currency? 
Old currency is appraised by examining several key factors:

    

  • Date and mint mark
    • 

  • Condition (grade)
    • 

  • Rarity
    • 

  • Historical significance
    • 

  • Current market demand
    • 



Professional appraisers use reference guides, auction records, and their expert knowledge to determine values. For the most accurate assessment, seek out a professional numismatist or coin dealer with credentials from organizations like the American Numismatic Association or Professional Numismatists Guild.

How do you get coins appraised without getting ripped off? 
To ensure you receive an honest appraisal:

    

  • Choose an independent appraiser who doesn’t also buy coins to avoid conflicts of interest
    • 

  • Keep your coins organized in their original holders when possible
    • 

  • Document your collection with photographs before the appraisal
    • 

  • Request a detailed written report of the appraisal
    • 

  • Be present during the appraisal process
    • 

  • Get multiple opinions for valuable pieces
    • 

  • Research basic values before the appraisal so you have a general idea of worth
    • 



Consider appraisers who charge a flat fee rather than a percentage of the collection’s value.

What is the best way to sell old currency? 
The best method for selling old currency depends on your priorities:

    

  • For convenience and immediate payment: Local coin dealers or currency specialists
    • 

  • For potentially highest returns: Major auction houses or specialized currency auctions
    • 

  • For direct collector access: Online platforms like eBay or dedicated numismatic forums
    • 

  • For multiple offers in one location: Coin shows and conventions
    • 



For valuable or rare items, consider auction houses like Heritage Auctions or Stack’s Bowers that specialize in numismatics. For common items, dealers may offer the most convenient option.

Is my old foreign currency worth anything? 
The value of old foreign currency varies greatly:

    

  • Most modern foreign coins and banknotes are only worth face value or slightly more
    • 

  • Currency older than 100 years can have collector value depending on condition and rarity
    • 

  • Exotic or unusual denominations often attract collector interest
    • 

  • Historical context matters (currency from significant time periods or defunct countries)
    • 

  • Currency made of precious metals has intrinsic value regardless of collector interest
    • 



To determine value, consult with a dealer who specializes in world currency or use reference guides specific to foreign currency.

Are free coin appraisals reliable? 
Free coin appraisals can vary in reliability:

    

  • Many reputable dealers offer free appraisals as a service to attract potential sellers
    • 

  • The quality depends entirely on the dealer’s expertise and integrity
    • 

  • Free appraisals are often less detailed than paid professional appraisals
    • 

  • There may be an expectation that you’ll sell to the appraiser
    • 



For casual collectors or common items, free appraisals can provide useful information. For valuable collections or rare items, consider investing in a formal paid appraisal from a certified numismatist.

What credentials should a currency appraiser have? 
Look for appraisers with these qualifications:

    

  • Membership in the American Numismatic Association (ANA)
    • 

  • Professional Numismatists Guild (PNG) membership
    • 

  • Certified by the International Association of Professional Numismatists (IAPN)
    • 

  • Numismatic Guaranty Corporation (NGC) or Professional Coin Grading Service (PCGS) authorized dealer status
    • 

  • Formal education in numismatics or extensive experience in the field
    • 

  • Good standing with the Better Business Bureau
    • 

  • Positive reviews from previous clients
    • 



These credentials indicate a commitment to professional standards and ethical practices.

External Resources for Currency Appraisal

Conclusion

Finding a reputable old currency appraisal service near you is an essential step in understanding the value of your collection. By following the guidelines in this article, you can locate trustworthy numismatists, prepare for a successful appraisal, and make informed decisions about selling or preserving your old coins and paper money.

Remember that while online resources provide valuable information, nothing replaces the expertise of a professional numismatist for accurately assessing rare or valuable currency. Take time to verify credentials, get multiple opinions for significant items, and always request written documentation for important appraisals.

Whether your old currency turns out to be a valuable treasure or a modest collectible, understanding its true value and historical significance adds a new dimension of appreciation to your collection.

Item Price Date Auction House
1804 Silver Dollar (Class I) $7,680,000 August 2021 Stack's Bowers Galleries
1933 Double Eagle Gold Coin $18,900,000 June 2021 Sotheby's
1890 Treasury Note (Grand Watermelon) $3,290,000 January 2014 Heritage Auctions
1913 Liberty Head Nickel $4,560,000 January 2013 Stack's Bowers Galleries