Poll On What Your Collection Is Worth.

I'm toward the top of the poll (the lower dollar amount) but I guess I'm still a young collector.

Not very much but I will say at a minimun it is atleast Face value.

Total Face Value of Collection: $500
Total Numismatic and Precious Metal Value: $25,000-$30,000

***** And as many might think, being 17 years old it would seem this is my parent's money buying the collection, but every single penny has been earned by me*******
I have been to many shows where dealers look at me and chuckle (as I ask them to see double eagles, etc.) then look back at my Dad and make a remark that I happened to choose an expensive hobby for him to fund.

Tim Stroud wrote:




Not to hijack this thread but I would like to know more about the insurance side of this.

Tim, did you get an appraisal before your rider went into effect? Or did your adjuster just use your estimation?

I would like to know. (I'm a bit concerned about my collection not being insured...)

(JGFindring: if you would like I can start another thread so we can discuss my topic. You can PM me or just let me know on this one. I'll understand either way...)

Moe, I'm interested in finding out more on the insurance issue myself. Called my company. they said to get it appraised. Local coin shop says they won't do that, takes too much time and I should just give insurance guy a list of what I have and a copy of Coin Values.

Well guys I just took pics of everything and and gave to insurance company those with an "estimated" value and my agent wrote a rider policy up on whole thing. I did take my Dansco dollar album in so that he could look at it. In it was a half way complete date set of Morgans, and a complete date set of Peace and Ike's, 45 coins total. When saw them he thought they were worth a mint, no pun intended. Only a few of these are worth a good premium. I also took in a Red Book and showed him some examples of coin prices then we went across the street to the bank where my safe deposit box is and viewed the good stuff. Took less than an hour. that was three years ago. Although I have added to my collection since I have felt no need to raise the amount insurance I have yet.

All depends on the insurance agents and/or the company itself. Some will take the photos as proof of what you have, some will take your private listings, many will require a statistacle statement from a reputable apraser.
Just a word of warning. If you take your collection to someone for an apprasal, now there is one more individual or company that has your personal property in their computers. Then the insurance company, their agents and many others how also have that information. All such information today is entered into a computer and is usually available to almost anyone in the company. And not all such employees are permanent either. The more you tell any company of your personal life and property, the more people have access to that information.
There have been numerous home invasions where coins were the target and no one can really explain how the robbers knew what exactly was there.
Think about this. Identity thefts, bogus credit card scams, bank statements suddenly gone empty and all due to computers.
The best insurance for your coins is to keep your mouth shut.