You may be a new coin collector or you may be a collector that has been in the hobby for some
time. Either way, there will come a time when you may think about insuring your coin collection.
If you haven't already done so maybe now is the time.
Regardless of what you collect and how many coins you have, if your collection were to be lost
due to fire or flood or stolen, how would you feel and could you replace them? As most coins are
very personal and unique in their own way, I suspect most collectors would answer NO.
WHAT DOES INSURANCE COVER
It is always worth checking the detail of your
house and contents insurance cover. Many
conventional policies will already cover art,
collectables and coins as part of the insurance
policy. If in doubt call your insurer to discuss the
If you feel your home insurance is not sufficient,
you can always look into taking out extra
insurance for your coin collection. There are
many insurance companies that provide specialist
insurance for collectables.
It might be worth contacting a specialist coin
Insurance company as they will better understand
your needs and your collection, as opposed to an
insurance company that specialises in books or art.
A specialist insurance company should also be able
to underwrite your collection more easily.
GETTING YOUR COLLECTION VALUED
If you don't know the true value of your coin collection it is essential you have it valued before you sign
up for any insurance policy.
Some coin dealers offer appraisals for the purpose of insurance. Here is a list of UK dealers that are
members of the BNTA (British Numismatic Trade Association): BNTA Dealer list
It is worth contacting one of these dealers or a trustworthy coin dealer near you to ask if they would be
able to appraise your collection for insurance purposes. If you live in a different country you should still
be able to locate a trustworthy dealer that will be able to appraise your collection, just ask around.
Some auction houses will also offer this service and they usually charge from £100 for a collection
brought to them or up to £1000 for a home visit. Always get a quote for the service before committing
yourself and sometimes it is a good idea to get more than one appraisal.
Insuring Your Coin Collection
THE VALUE OF YOUR COLLECTION CAN INCREASE
Like most collectibles, it is worth bearing in mind that the value of your coin collection may increase over
time. Therefore it is advisable that you keep an accurate inventory of your collection and keep an eye
on the market. Some insurance policies, especially standard home insurances have a limit and some
collections can reach a high value very quickly.
If you have your collection accurately catalogued and include the current valuation for each coin,
especially the higher priced single coins, it will be easier to keep track of any gain in value. With this
point in mind it is worth getting your collection professionally appraised every few years, especially if you
feel it may have increased in value quite a bit.
COMPARE INSURANCE QUOTES
After you have done all your checks, if you feel it is in your interest to insure your collection it is always
worth shopping around and comparing insurance quotes to find the best deal for you.