How to Quickly Catalog and Value a Coin Collection
I know from speaking with our clients, some have collected or inherited large coin collections of various types of currencies over the years and have found difficulty knowing how to catalog it all, as well as how to value their coin collection.
We are about to dive into it in this blog. But first, a bit of background…
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Many have tried appraisals at local coin or jewelry stores and have searched eBay in an attempt to value or sell some of their inventory. This can be a long and arduous process, particularly for something that may be difficult to price and may hold significant sentimental value as well.
What can make coins difficult to value is that they derive their value from two main sources:
The precious metals from which they are made (gold or silver)
The numismatic value which considers a coins condition, rarity, desirability, historical significance, etc.
With the value of gold at all-time highs and the value of silver increasing to prices not seen since 2012, many are dusting off their collections with a renewed interest in valuing their possessions (Goldprice, Silverprice, 2025).
How I valued my personal coin collection
Recently, a relative passed away with a small collection of international coins accumulated from travel abroad. Knowing my interest in foreign currencies, I was tasked with trying to identify some 50+ coins from various countries and time periods including currencies and denominations that no longer exist today. After sitting there wondering, “What are these things, are they valuable, and if so, how much is my coin collection worth”, I began the process of gathering the information I needed for the task.
While it was obvious where some of the coins originated, others were more difficult to identify. After researching on various websites without success, I turned to the App Store to see if there were resources that could help me focus my search. Luckily, I found there were several.
CoinSnap & NoteSnap: a Review
Here is my take on what it was like using CoinSnap and NoteSnap. Please note that these were the only two apps I tried. Depending upon desired features, another choice may be more suitable for your own needs.
I signed up for free trails of both CoinSnap (for coins) and NoteSnap (for bills). These two apps offer subscription services that can help you store and manage your collection digitally. I was impressed with how easy the process was and the export feature that allowed for a list of assets to be created and stored outside of the app for the more casual user.
How They Work
The process was very simple. You take a picture of the front and the back of each coin or bill from within the app. The app then gives you some immediate feedback on the country of origin, year, denomination, rarity, and estimated value based on the images. The app even stores the images of each coin (see URLs below) and will hold them for 60 days without an active subscription.
You can then export your list of data to an excel sheet and store it locally for your records. Below is an image of the data extract.
Source : CoinSnap Collection Export
Practical Uses
While I’m not sure how accurate the coin value estimate is, I think an App like this that can help you reasonably ballpark what a coin might be worth is extremely helpful.
For those with larger collections, using the seven-day free trial (or even purchasing the year subscription) to create this detailed catalog of a collection could be extremely valuable. This list can be kept with the collection so that it can be easily and quickly referenced.
If the collection is too large or too valuable to easily transport, this list can be a great tool to take to a coin appraisal to discuss which coins might be valuable and are worth being viewed and valued in person by an appraiser.
How your coin collection fits into your overall wealth strategy
A coin collection, no matter what the value (big or small) is an asset and a contributor to your net worth. Like a stock, bond, real estate, or any other asset, it has a place in your financial plan. If you are approaching retirement or already retired, it’s a good idea to create a strategy for achieving your financial goals. A financial plan will consider all your assets, your liabilities, and any other factors that may influence your ability to reach the milestone you wish to in life.
We help people who want to retire in La Jolla, California and the area surrounding or anywhere in the United States. If you need help or have any questions, don’t hesitate to reach out to us at Financial Alternatives.
Andrew Hoffarth, CFP® is a Lead Advisor with Financial Alternatives. When he’s not enjoying outdoor activities with his family, he excels at finding solutions for complex financial situations, allowing successful families to focus on what is most important to them. Schedule a time to chat with Andrew.
Sources
Goldprice. https://goldprice.org/spot-gold.html
Silverprice. https://silverprice.org/silver-price-history.html