- August 18, 2014 -
Recently, our firm was asked to do a coin appraisal for siblings who had inherited a collection from a parent. This family had no idea as to the collection’s value but realized the importance of having it evaluated. As it turned out, much of the collection had nominal value, but there were a few pieces of significant value. It was fortunate that the heirs had the wisdom to have their inheritance appraised. However, that raises the question: how many heirs don’t know the value of an inheritance that includes gold, silver, platinum and collectibles?
To properly divide up an inheritance among heirs or to sell it outright, a fair market appraisal is highly recommended. Here are some basic guidelines to ensure a mutually beneficial transaction.
If you’re the recipient of gold, silver or a coin collection for which there is no documented value, do as our client did…have it appraised. Too many times when a collection is left with no guidance or information as to its value, the recipient may dispose of it for less than its fair market value. At Jack Hunt Gold and Silver, we’re more than happy to provide a free evaluation with no obligation.
If you are the current owner of a collection or estate that you’re planning to pass on to family or friends, do they understand the value of the collection? Probably not. An appraisal ensures that the future recipient understands the full value of the inheritance.
Here’s another often overlooked point to consider: An appraisal can also spell out or clarify who receives what at the time the appraised items are sold or dispersed. Unfortunately, we have witnessed countless disputes among family and friends when the original owner’s plans for distribution are not clearly noted in writing.
At Jack Hunt Gold and Silver, we offer free, no obligation, fair market, verbal evaluations on estates containing coins, jewelry, currency and anything related to precious metals. Appointments are suggested for larger lots. Written evaluations on company letterhead are available for a nominal fee.