An inherited coin collection: how to sell it without being cheated
What to do in the first weeks, what to watch out for and how to find out what you have is worth
BulgarianCoins editorial team 3 min read
Many collections are sold not by the collector but by their heirs. They usually do not know what they have and do not know the market. That makes them an easy target. Here is how to approach it calmly.
The first weeks: what NOT to do
- Do not clean anything. Even if the coins look dirty. Cleaning is the most expensive mistake – see why.
- Do not sell to the first person who makes an offer. Especially if it is a “friend of the family” or someone who turned up on their own after hearing about the inheritance.
- Do not take the coins out of their capsules and albums. The arrangement often carries information – the collector knew what they were doing.
- Do not split the collection at random among the heirs before you know what is in it.
Find out what you have
Look for notes, notebooks, receipts, BNB certificates. Collectors often keep inventories. Then make your own inventory – coin by coin, using the catalogue. On each page you will find the mintage, metal, photos for comparison, market prices and a rarity score from 1 to 10.
These coins are a signal that the collection has serious value:
- Gold – 10, 20 and 100 leva of 1894 and 1912, BNB gold commemorative coins.
- Silver coins of the Principality – 5 leva of 1884, 1885, 1892 and 1894.
- Coins in PCGS or NGC slabs.
- BNB commemorative coins with small mintages – see which rose the most.
The classic tricks
“These are just old stotinki, I’ll give you 100 leva for the lot.” If someone offers one lump sum without looking at the coins individually, they have probably spotted something valuable.
“These are fake, but I’ll take them.” If the buyer claims the coin is fake but wants to buy it, something is wrong.
“I need to take them for a valuation.” Do not hand over coins without a written inventory and a receipt. Better still – do not hand them over at all, show photos instead.
“You have to decide today.” Pressure for a quick decision is a sure sign that you should wait.
How to find out the approximate value
Set aside the valuable coins and check their prices on the catalogue pages. Get two or three independent opinions – from a shop, from an experienced collector, from an auction house. If all the valuations are close, they are probably realistic. A detailed plan for the sale itself is in How to sell a collection at a fair price.
How to divide the collection fairly
If there are several heirs, you have two fair options:
- Sell and divide the proceeds. The simplest, with no disputes.
- Divide by value. Make an inventory with market values and distribute the coins so that each person receives an equal sum. This helps if one of the heirs wants to keep the collection.
Taxes and documents
Keep the inheritance documents and the inventory. When selling, they show the provenance of the coins. For tax questions, see Taxes on selling coins in Bulgaria or consult an accountant.
Remember
BulgarianCoins does not buy, sell or value coins, so we cannot put a price on a specific collection. But on the site you will find everything you need to know what you have before you talk to a buyer.
