Insurance Valuation &/or Market valuation

[jgrinz]

I am going through an Insurance audit of my collection and have a few ODD ball coins in which I do not know how to evaluate as there is NO history of such a coin in ANY venue.

 

I am specifically talking about my 1 of 1 coin non finer.

 

1967 SMS Nickel NGC MS69

 

How would go about evaluating this for insurance purposes as at this time there is not an equal and is obviously unreplaceable.

 

Any Ideas.

 

[DC Dawg]

I had the same problem but with more esoteric items. I have some old trade tokens used by New York City establishments, especially during the Depression. Most of these tokens are for bars and for staples, like milk. I contacted the Token and Medals Society for some idea of how to get a valuation for these items. I was told that I was lucky to find many of these pieces because there was a concerted effort to destroy these tokens starting in 1938. Some have value. Some are unknown. I was steered to a dealer to help.

 

The other problem I had was having a 2007-W American Silver Eagle graded MS70 before the pricing guides published prices on these coins. But I had to put some sort of estimate when I updated my coverage (I do this annually). For the ASE, I used the 2006-W prices and added 10-percent--it seem reasonable.

 

The tokens were different. There are some that we think are irreplaceable but do not have a collectors value. Another token and medals dealer said that if I ever sold the set, it could generate interest and sell for higher than I my draft estimate because of the unique nature of the items. For insurance purposes, I used my purchase price, multiplied it by 10, and marked it as "IRREPLACEABLE" on my inventory sheet.

 

Based on my experience, I would see if a dealer would give you a valuation for coin. Or see if a price guide has a value. Once per year, I buy a single issue of the Greysheet and use it for valuation of my other coins. If the coin is not listed (a situation I do not have, unfortunately), take the highest price for a similar coin, figure out what would be a "fair" replacement value, and mark the coin in irreplaceable on your inventory sheet. If there is a question, use the population reports as support.

 

You can also talk with the insurance company for guidance. The insurance company I use was very helpful with me to insure some of this is esoteric stuff.

 

Just my !

 

Good luck!!

 

Scott

[bsshog40]

That would be hard to determine sometimes Mike. Sometimes tracking older auction sales are good. I noticed the 68' on PCGS was $385. (I always figure these to be about actually 33% of this value). I can see PCGS guide taking this Jeff to 10x that amount for the next grade. I have also experienced too, that being in an NGC holder, for some reason takes the coin back down to realistic values.

[jackson64]

you could just give me that one of a kind nickel and save yourself some aggravation....I mean, life is too short to sweat the small stuff, what's a little old nickel to ruin your day or get you banging your head against the wall..I'll take the burden onto myself...hey what are friends for except to help lighten the load, right...I'll PM my address... ...

 

 

[michael]

for me a value of an item is when the seller and buyer come to a reasonable price that both are happy with

 

so again, for me this means what can i sell the item for to an interested collector or dealer that also has the funds to purchase and that there is currently a good demand in the market for this particular item

 

in other words, a market that currently has demand for the item i am trying to sell and that both the collector and dealer buyers are not only interested but have the funds to buy it

 

and what you want for the item is acceptable to an interested buyer then this is what the value of the item is in my minds eye