Numismedia Question

Thanks, oih82 for the quick reply.

The reason for my question is, a friend has asked me to look at a collection that they had inherited. They have no interest in the collection but would like a value amount for insurance purposes. It is a rather large collection with mainly coins and paper money from the U.S and Canada. There is also some silver bars and foreign coins. I'm far from being an expert but I thought it would be interesting to do. Now I'm not sure if I am in over my head. The coins range from proof sets, Ike dollar sets,
Merc. dimes, all sorts of Canadian coins in other words a lot of different coins.
My first task was to organize them. (they were sitting in an attic for the last 10 years.) and try to identify some of the ones I have never seen, ( a British Trade dollar 1910 neat!). I'm sure I will be sending photo's to help Id. Then to put a value on them wow, here is where I may be lost.
question 1 Do I grade each coin based on FMV?
question 2 Do I value the silver bars at current spot price? They are more than just bars one is Old Ironside 1oz, a Lincoln 1oz from the Madison Mint.
I have been looking at prices on ebay, and help to id some. There is no rush to get this done and they just want a fair idea of value to split them for their kids.
Hope I'm in the right direction. Thanks. Hope to meet all in Philadelphia!

Thanks BadThad. I did tell them their insurance rates would probably go up and I suggested to buy a large enough safe. They are totally clueless of what they have but trust me enough to go through with it. This way they feel they can go to a professional with some idea of what they have. Again I believe they just want to be able to split the coins evenly with their kids. Lol I am doing this for free. Wish I was one of their kids!