How to Become a Rare Coin Appraiser

Rare coin appraisers can tell you if you have a coin that was highly circulated or not.

If you are an avid coin collector, or numismatic hobbyist, you may have considered becoming a rare coin appraiser. Rare coin appraisers must be knowledgeable in coin types, grades, their scarcity, values and have the ability to spot tokens and fake coins. A career in rare coin appraising will keep you busy as you must follow the latest trends in rare coin purchases, be constantly aware of the changing value of the metal within rare coins and offer your services to coin collectors, shops and trade shows.

Instructions

1. Familiarize yourself with different coin types. Rare coins, particularly international coins, come in a variety of shapes and sizes. In addition, the wording on manyare not written in the Roman alphabet. Learning which countries have uniquely-shaped rare coins or specific images can help you recognize their origin with greater ease.

2. Learn to grade coins. When you grade coins, you describe the condition of the coin. A grading term, for example, is "VF," which means a coin is "Very Fine" because it has minimal wear and the details on the coin are visible, according to the U.S. Coins Values Advisor. Other terms to grade coins include words used to describe their coloration, strikes and the different parts of the coin.

3. Study the history of the rare coins. Coins always have a background story, which matches the history of its country of origin.

4. Know market trends, the price of metals and how much coins similar to the ones being appraised have sold for recently. This information is available printed coin periodicals and professional numismatic websites.

5. Receive training in rare coin appraisal. Appraiser societies and numismatic organizations offer opportunities to gain accreditation as a rare coin appraiser. Having accreditation or a license in this field will increase your credibility as a rare coin numismatic professional, especially since there are no coin appraising licensing requirements in the U.S., according to Alan Herbert with "Coins Magazine."

Tips & Warnings

• The US Coins Values Advisor suggests paying attention to how other professionals describe their coins, in person or online, when it comes to grading them. These are good examples of the information clients seek.

• If you use coin appraisal books, always make sure they are the current year's edition.

References

• US Coins Values Advisor: Coin Collecting Guide to Jargon
• Numismaster: To Deal Coins or Not

Resources

• PGN: Membership Requirements