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 Replies: 26 / Views: 4,650 |
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Pillar of the Community
 United States
4594 Posts |
The job is called an appraiser and depending on where you live, you will need the appropriate business license, plus insurance and possibly a bond.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Bedrock of the Community
United States
20753 Posts |
And too you should really get to know as much as possible about fakes.
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Pillar of the Community
Canada
1747 Posts |
Lastly, something that has not been mentioned yet, and something that might save you is insurance. I do not know how easy this may be able to attain for this kind of business, so good luck. You need to minimize your exposure to lawsuits, if you sell stolen items, what if you mistake a fake for a real coin? or vice versa? In the USA where its sue first ask questions later mentality you might have issues. as per your question about pricing, I would start with this, free 10 minute appraisal, this would be let me see what you have, and if nothing is of real value then its not a big deal for the client. I would say that 90% of inherited caches will be of junk silver with a few possible key dates etc. |
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Valued Member
United States
70 Posts |
I think it's a great idea, however the key would be making the people feel comfortable with you. To start off, get licensed, and bonded, then I would offer the service right at their home or business, that way they would feel even more comfortable. I realize there is a great deal of time involved based on the quantity, yet I really think this may be the ticket.
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Pillar of the Community
United States
1314 Posts |
I know of one case involving divorce proceedings, where an appraiser charged 10% of the value of a firearms collection.
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Bedrock of the Community
 United States
18706 Posts |
Thanks to all my CCF friends. Great ideas and comments will help me decide an approach and things to watch for. I think I have aviable idea. The details and execution need thought out more
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Pillar of the Community
United States
1314 Posts |
Oh, and photograph everything.
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Pillar of the Community
United States
1795 Posts |
Its an interesting idea. The internet would probably give you the best exposure. Being Bonded would go a long way to assure them that they won't get ripped off. Now if they can't take photo's to send you via e-mail etc. then you would need to have some way they could ship them to you cheaply. I would suggest talking to Postal Service, UPS, etc! Also your charges for the service would need to be reasonable. If you took care of those things there is no reason that it wouldn't work as long as you can control your exspences. Hmmm another thought maybe you could make some deal with 3rd party grading services that would give people some deals if your recommended them to either grader (NGC or PCGS).
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Valued Member
United States
73 Posts |
since you stated you are disabled are you drawing disability? if so you should consider taking a small portion of a graded collection as payment since the face value would be much lower than the true value. I believe people on disability are not allowed to make more than 1k a year in the US.
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Bedrock of the Community
United States
20753 Posts |
Just remember to keep us all posted as to what happens.
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Pillar of the Community
Australia
3831 Posts |
Can always go through small change... not like it would cost extra. Might end up finding some exciting variety or scarce dates. A mundane task but it's not like you lose money on it.
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Bedrock of the Community
United States
18706 Posts |
Good suggestion chute. Ben...not on ssd yet. I'm waiting for a hearing in June or July. You can make up to $1000 mo or so
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Pillar of the Community
United States
2669 Posts |
I do this on a very small basis. Get a membership with the ANA (and make sure to read what they expect from their members). I looked into bonding when I started and I remember it wasn't doable but I don't recall why. I'd have to find my notes again. If you'd like to have some simple business cards handy to give people or to leave places, you can make some at http://us.moo.com - get a google voice number and forward it to your cell, and put the google voice number on the business card. It's usually best to have a separate line for business vs. personal. If you want, you can keep it unforwarded and just answer it on your computer. Lots of good ideas so far. Good luck, and let us know how you do  |
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Valued Member
United States
73 Posts |
panz I dont think its 1k a month, thats right at minimum wage in my state.
never mind apparently you can still work full time and be on disability.
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Pillar of the Community
Germany
1852 Posts |
panzaldi, I think this is a good idea.
Let me say the following: if your sole intention is to evaluate peoples coins and collectibles so as to avoid them getting cheated by unscrupulous buyers, then this is really a good idea and fulfills a market need in my opinion. However, you need to make that clear up front, that you are not a buyer, bur rather an appraiser whose aim is to protect people from making costly mistakes.
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Posted 04/21/2015 12:17 pm
