The Short Answer
Before you need a coin insurance appraisal, check your policy: many homeowners and renters policies cover money, coins and precious metals only up to a low special limit, so a valuable collection usually needs to be listed on a scheduled rider or a separate collectibles policy. Insurers generally want a written appraisal to do that.
An insurance appraisal usually states replacement value, which is what it would cost to buy comparable coins from a dealer. That is higher than fair market value, the figure used for estates, gifts, donations and divorce. The IRS says plainly in Publication 561 that an insured value does not reflect fair market value.
Not tax or legal advice. This guide is general information about federal rules as of November 2026. Tax law changes and every situation is different, so confirm the details with your CPA, tax attorney or estate attorney before you file, sign or transfer anything.
Replacement Value, Fair Market Value and Offers
| Value | What it measures | Used for |
|---|---|---|
| Replacement value | The cost to buy similar coins at retail | Insurance schedules and claims |
| Fair market value | The price between a willing buyer and a willing seller | Estates, gifts, donations, divorce |
| Offer to buy | What a buyer will pay today | Selling |
Using the wrong one causes problems in both directions. An insurance figure on an estate return or a donation overstates value, and a fair market value figure on an insurance schedule can leave you underinsured. If you need a tax value, see our guides to donating coins to charity, gifting coins and coin appraisal for estate tax.
Scheduling Coins on Your Policy
Policies differ, so read yours and ask your agent these questions:
- What is the special limit for money, coins, bullion and precious metals under my current policy?
- Can the coins be scheduled item by item or as a blanket collection limit, and is there a per-item cap?
- Is coverage on an agreed-value basis, or will the insurer pay actual cash value or replacement cost at the time of loss?
- Does the coverage include mysterious disappearance, shipping, coins at a show and coins in a bank safe deposit box?
- Which security or storage requirements apply, and how often must the appraisal be updated?
Contents of a bank safe deposit box are not insured by the FDIC, and the bank usually is not responsible for them, so check how your policy treats coins kept there.
Documentation to Keep
- An itemized written appraisal with each coin’s date, mint mark, denomination, grade and value
- Clear photos of both sides of every valuable coin
- PCGS, NGC and ANACS certification numbers, which can be looked up online and help identify recovered coins
- Purchase invoices and auction receipts
- A copy of everything stored away from the coins, such as in cloud storage or with your attorney
Update the values every few years and whenever gold or silver prices move sharply, since bullion values change with the market. If you ever need to file a claim, the insurer will ask for this file. For tax rules on personal casualty and theft losses, see Publication 547.
Insurance Appraisals Are Not Sale Offers
An insurance appraisal is a paid service, because it is a formal document prepared to support a policy, not an offer to buy. If you are thinking about selling, our appraisal and written offer are free and come with no obligation. Our guide on how to get a coin appraisal explains the types of appraisals and when you need each.
How American Rarities Helps
Founded in 1990, American Rarities has purchased over $400 million in rare coins, bullion and collectibles. We are ANA Life Members, an authorized PCGS, NGC and ANACS dealer, rated A+ by the BBB and 4.7 stars on Google. We can:
- Prepare an itemized insurance appraisal at replacement value, for a fee, with photos and certification numbers.
- Prepare a fair market value appraisal for an estate, gift, donation or divorce, also for a fee when there is no sale.
- Give you a free appraisal and written offer if you decide to sell part of the collection instead of insuring it.
To get started, text photos to 720-600-4740, email staff@americanrarities.com or use the form below.
Four Steps to an Appraisal
Send Photos and/or a List
Send photos or your inventory: text photos to 720-600-4740, email staff@americanrarities.com or use the form below. Tell us whether you need an insurance appraisal, an offer or both.
Free Appraisal and Written Offer
Appraisals are usually done within 24 hours, though larger collections may take longer. If so, we’ll let you know. A formal insurance appraisal is a separate, fee-based document.
Ship or Meet
Ship fully insured at our expense, or meet us in person. We can meet you at your bank. If you decline our offer, we return your items fully insured.
Get Paid
If you accept our offer, you choose how you are paid: cash, check, ACH or wire.
Related Guides
This guide is part of our series for CPAs, attorneys, executors and families. Every estate guide we publish is collected on our coin appraisals for CPAs and estates page.
More Guides in This Series
- Donating Coins to Charity: Form 8283 and Qualified Appraisals
- Gifting Coins: Form 709, the Annual Exclusion and Carryover Basis
- Dividing a Coin Collection in Divorce
- Gold IRA Coins: IRS Rules on Eligible Coins and Collectibles
- Dividing a Coin Collection Among Heirs
- Probate Inventory of Coins: An Executor’s Guide
Related Estate and Tax Guides
Coin Insurance Appraisals: Frequently Asked Questions
Does my homeowners policy cover my coins?
Often only up to a low special limit for money, coins and precious metals. Check your policy and ask your agent about scheduling the collection.
Is the insurance value what a dealer would pay me?
No. Insurance appraisals usually state replacement value, the cost to buy similar coins at retail. An offer to buy is lower.
Can I use an insurance appraisal for taxes or an estate?
No. The IRS says an insured value does not reflect fair market value. Estates, gifts and donations need a fair market value appraisal.
How often should I update a coin insurance appraisal?
Every few years, and whenever gold or silver prices move sharply. Your insurer may set its own schedule.
Do certified coins still need an appraisal?
Yes. A PCGS, NGC or ANACS holder confirms authenticity and grade, but not value. The appraisal adds a current value for each coin.
Is your insurance appraisal free?
No. A formal insurance appraisal is a paid service. If you are considering selling, our appraisal and written offer are free.
Free Appraisal for Your Coin Collection
Email, Text, or Use This Form To Send Us Your Inventory List or Pictures
Email: staff@americanrarities.com | Text: 720-600-4740
