Selling an inherited coin collection: an honest UK guide

The single most expensive mistake people make is binning the boring-looking bits. Tarnished silver, dirty pennies, worn banknotes and small foreign coins can all be worth real money. Box everything up exactly as you found it. We have repeatedly bought £400 coins out of biscuit tins that were destined for the skip.

Equally — don't clean anything. Cleaning a coin can reduce its value by 80%. Leave even the dirtiest examples exactly as they are.

Make four loose piles: pre-1947 silver (these have intrinsic silver value), gold (sovereigns, half sovereigns, foreign gold), modern UK decimal, and everything else (foreign, copper, banknotes). You don't need to identify anything precisely — a buyer will do that for you.

If there are albums, coin folders or documentation (auction receipts, dealer envelopes, valuation letters), keep them with the coins. Provenance often increases value.

Avoid online 'estimates' from photos — they are guesses at best and lowball offers at worst. The two reliable routes are: a local specialist who comes to the house, or a regional auction house.

An auction will sell the headline lots well but charges 25-35% in combined seller's and buyer's commission, takes 8-12 weeks, and rejects bulk material. A trusted local buyer pays less per headline item but takes everything in one visit, on the day, in cash.

For most families clearing an estate, a respectful in-home visit is the right answer. We do this often — see how we work before deciding.

Ask three things: How long have you been buying locally? Will you itemise your offer? Will you pay today? An honest buyer will say yes to all three. Be wary of anyone who insists on taking the collection away to 'value properly' before quoting — a competent buyer can value most collections on the kitchen table.

If the collection is in South West London or Surrey, we cover most of the area and can usually visit within 24-48 hours.

If you are a beneficiary of an estate, the executor needs a written valuation for probate (HMRC). Most professional buyers will provide this in writing free of charge — it doesn't commit you to selling to them.

Coin sales between private individuals are generally outside CGT for UK legal-tender items (sovereigns, Britannias). Foreign coins and bullion bars may be different — speak to an accountant if the collection is substantial.