Is it Worth Getting Antique Appraisals For Paper Money & Coins?

Over the last few years, there has been an uptick in the coin collection industry. Collectors are wide-ranging, from paper money to war coins and commemoration, so the industry is flourishing. Thanks to the US Mint, there are also limited-edition honorary coins released that will be worth their weight in the future, so new faces are getting antique appraisals thanks to the interest in the history of paper money and coins.

Types of Paper Money & Coins People Collect

  • Commercial Bank Money
  • Fiat Money (Paper Money & Coins)
  • Fiduciary Money (Bank Drafts, Checks, Money Orders)
  • Commodity Money (Goods Bought, Sold, and Traded Including Gold, Silver, Silk, Grains, etc.)
  • Representative Money: (Paper Money, Tokens, Coins, Vouchers, Certificates)

Coins were historically used, so they outnumber the more modern paper currencies available for sale. Coins also tend to be less expensive than paper currency because paper money has face values, unique flaws, and design distinctions that factor into overall valuations. For example, a $2 bill from 1862 to 1918 can be worth between $100 and $10,000 while an 1862 Indian Head Penny is worth $7 and $70.

How Old Does Currency Need to Be to Become Antique?

The standard practice for any type of item is that it becomes an antique when it is has aged over one hundred years after it was made or first purchased in the marketplace. The exact age of an item can be difficult to establish without research but learning about a product or antique type can provide you with enough information to identify pieces for an antique appraiser to authenticate and establish an accurate valuation.

We highly recommend that consumers research or call us to find out about a period or an antique type as it will help you in decision-making.  As a collector, you likely won’t find enough evidence to validate and authenticate whether an item is an antique or not without having access to specialized research databases and tools. This is where the value of working experts to get antique appraisals can be of great worth.

What is the Best Way to Buy and Sell Old Coins?

There is no ‘best’ way to buy and sell currency as every buyer and seller is different. Some collectors work with antique appraisers while others look for sale ads or attend estate or online sales in person or online.

How Do I Find Out What My Coins are Worth?

The easiest and most effective way to find out what your paper money or coins are worth is by having an antique appraisal done. Manzi has over twenty years of experience helping both collectors and those with a personal interest in currency to locate, buy, sell, and build collections. Even if you only are interested in one type or want to collect extensively across multiple facets, Manzi is the appraiser to help you do it.

To learn more about currency collections, antique appraisals, or set an appointment, please call our office at 617-948-2577 or visit our Facebook page at https://www.facebook.com/ManziAppraisers/.