If you've just inherited a collection, you may be grieving, busy, and unsure where to begin. That's normal. There's no rush. The most important thing you can do right now is not make any decisions you can't undo. This kit walks you through five calm steps.

Most heirs aren't collectors, and many end up selling in a hurry. The American Numismatic Association quotes an expert who observed that heirs who "sell the collection quickly for cash" often get "only a small portion of the potential value" (ANA). A little patience goes a long way.

The five steps

1. Don't clean anything

Please don't polish, wipe, dip or rub anything, and don't remove items from their holders. Cleaning can permanently lower what collectors will pay (NGC). Here's why.

2. Sort gently

Group items by type: coins, paper money, cards, comics, autographs, and other. Keep anything in a plastic holder (a "slab") exactly as it is. Keep any boxes, papers, receipts and notes the owner left; they can be important.

3. Make an inventory

Write down what you have and take photos of the front and back of each item, plus any label. In one court case, the person who handled a collector's coins later admitted "it was a mistake not to inventory the items before the sale" (Karwoski opinion). Use our printable inventory sheet, or start your inventory in the Collector Portal.

4. Get two or three itemized written offers

If you decide to sell, don't sell to the first buyer. Ask for itemized, written offers from two or three different buyers. When CoinWeek tested this with a single coin, the most convenient buyers for a non-collecting family "are the ones that offered me the least money" (CoinWeek).

5. Look for established professionals

Look for dealers who belong to recognized professional organizations, such as the Professional Numismatists Guild (PNG) or the American Numismatic Association (ANA), and who specialize in what you have. The ANA also publishes a guide for families, Managing and Settling a Numismatic Estate (ANA).

While you're at it

Keep it quiet. Don't post photos of the collection online or tell people where it's kept. Collect quietly.
Check insurance. A standard homeowners policy may cover coins only up to a small limit. The $200 surprise.
Talk to the estate's attorney and a CPA before selling, especially if you're the executor. How inherited items are handled for taxes is a question for a tax professional.

Your kit

✅ This five-step checklist
📄 Printable inventory sheet
💻 Start your inventory in the Collector Portal
💬 Talk to us

Want a second set of eyes?

We can help you understand what you have, with no pressure and no obligation to sell to us. See Consultant, or Confidant for estates and private situations. We'll explain any costs before you commit.

Email info@choicecustomcollections.com Serving Lantana, Palm Beach County and nearby areas, by appointment.

Educational only. This is not a certified appraisal, and not insurance, tax, legal or investment advice. Talk to the estate's attorney and a CPA or tax preparer about your situation.

Sources

Start or talk to us

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Inherited a collection? Start here.