What is a numismatist?
A numismatist is a person who studies and understands the coins and currency of civilizations from ancient times to the modern era.
What is a professional, independent numismatic appraiser?
A professional, independent numismatic appraiser is an individual with extensive scholarly expertise in numismatics who is accredited, tested and bound by a written contract — and whose fee is never based on the value of the collection.
Why should I use a professional numismatic appraiser when a local coin dealer can tell me how much my coins are worth?
Coin dealers are interested in one thing: buying low and selling high. Only a professional numismatic appraiser can write a comprehensive written report to the client. These reports can be sent to a third party, such as a lawyer or insurance company. In essence, a professional, independent numismatic appraiser represents his clients, while a coin dealer only represents himself.
How is the appraiser compensated?
The appraiser and the client sign a written contract in which all terms and conditions are clearly spelled out. Under no set of conditions is the appraiser's compensation based upon the value of the collection.
What do the appraisals represent?
An appraisal represents the estimated value of the client's numismatic collection at a given moment in time.
Who is a typical client?
(1) The will or trust of a long-time coin collector states that the coins must be equitably distributed among the heirs, so each coin must be individually appraised and the coins allocated fairly. (2) A numismatic collection will be donated to an established charity, and IRS regulations require that an appraisal be performed for tax purposes. (3) An individual needs a loan and the coin collection will serve as collateral.
Where is the appraisal performed?
The appraisal is always performed where the client's numismatic collection is located. Under no set of circumstances does the client ever lose possession or control of the collection. The professional numismatic appraiser always goes to the client's location to perform the appraisal — no exceptions.
What other services can a professional independent numismatic appraiser perform?
(1) Expert witness in court. (2) Recommend which coins, if any, should be sent to a professional grading service — particularly for coins that are rare or uncirculated. (3) Work with the client in securing a reputable auction house to eventually sell the collection. (4) Perform periodic updates to the appraisal, especially when the collection is insured. (5) Assist the client's lawyer and/or accountant when required, including many areas of estate planning.
Ready to move forward? See all appraisal services or contact Joel J. Forman.