How to Be Coins and Stamps Appraiser - Job Description, Skills, and Interview Questions

Sep 18, 2020 / 5 Minutes Read / By Albert

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The demand for coins and stamps appraisers has been steadily increasing due to the rising interest in collecting coins and stamps. As a result, more and more people are seeking out certified appraisers to assist in the valuation of their collectibles. Coin and stamp appraisers need to possess a deep knowledge of the hobby as well as an expansive understanding of the history and current market trends associated with coins and stamps.

Furthermore, they must be able to identify rare or valuable pieces from a vast array of collectibles. With their expertise, these appraisers are in high demand, allowing them to make a good living while helping others realize the true value and potential of their coins and stamps.

Steps How to Become

Pursue a college degree in coins and stamps. A degree in coin or stamp collecting, or a related field such as history, finance, or numismatics, will give you a broad foundation of knowledge to draw upon in your career.
Obtain certification. Though not required, professional certification as a coin or stamp appraiser can help you stand out from the competition. The Professional Numismatists Guild and the American Stamp Dealers Association both offer certification programs. You must meet certain criteria in order to qualify.
Gain experience. As with any career, experience is invaluable when it comes to becoming a coin or stamp appraiser. Participate in local and national coin and stamp shows, build a network of contacts, and volunteer your services to museums and other organizations.
Develop your appraisal skills. Familiarize yourself with the different grading scales for coins and stamps, learn how to identify counterfeits, and read up on the latest industry news and trends.
Start your own business. Once youve established yourself as an expert in the field, you can start your own coin and stamp appraisal business. Consider advertising your services in local newspapers and magazines, as well as online.

The success of a coins and stamps appraiser relies on many factors, including their knowledge, experience, and resources. An ideal appraiser should have an extensive knowledge of coins and stamps, as well as an understanding of the current market values. It is also important that they have access to the necessary resources, such as catalogues, databases, and auction websites.

Furthermore, a competent appraiser should be able to accurately identify coins and stamps, assess their condition, and provide an accurate assessment of their value. With the right knowledge, resources, and experience, a coins and stamps appraiser can provide an accurate assessment of the value of a collection.

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Job Description

Coins and Stamps Appraiser: Responsible for accurately assessing the value of coins and stamps. Must have a good knowledge of coin and stamp collecting, as well as an understanding of current market prices.
Research Assistant: Assist the Coins and Stamps Appraiser with researching the value of coins and stamps. Responsible for gathering pricing information and providing detailed reports.
Auctioneer: Responsible for selling coins and stamps during auctions. Must know how to accurately appraise the items being sold and be able to provide customers with detailed information about them.
Customer Service Representative: Responsible for helping customers with their coin and stamp collecting needs. Must be knowledgeable about the products being sold and be able to answer customer questions in a friendly, professional manner.
Inventory Manager: Responsible for managing the inventory of coins and stamps. Must be organized and able to keep accurate records of stock levels and prices.

Skills and Competencies to Have

Extensive knowledge and experience with coins and stamps from all periods, countries, and eras.
In-depth understanding of the value of coins and stamps in the current market.
Ability to properly evaluate the condition and rarity of coins and stamps.
Expertise in researching and authenticating coins and stamps.
Excellent communication skills to explain appraisals to clients.
Professionalism and integrity.
Ability to maintain accurate records and documentation of appraisals.
Excellent organizational and time management skills.
Knowledge of auction houses and other sales channels for coins and stamps.
Ability to stay up-to-date on market trends, laws, and regulations related to coins and stamps.

Having an expert knowledge of coins and stamps is essential for any coins and stamps appraiser. Being able to accurately identify and assess the condition, rarity and value of coins and stamps is key to providing an accurate appraisal. In addition to being knowledgeable in the field, coins and stamps appraisers must also have excellent research and analytical skills in order to be able to properly evaluate the market value of a particular item.

They must also be able to accurately and quickly spot counterfeits, replicas, and altered items. Professional coins and stamps appraisers must also possess strong communication skills to be able to explain their findings to clients in a clear and concise manner. Finally, coins and stamps appraisers must keep up with current trends in the field, as this is essential for providing accurate appraisals.

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Frequent Interview Questions

What experience do you have appraising coins and stamps?
What methods do you use to evaluate the condition of coins and stamps?
How do you determine the value of coins and stamps?
What resources do you use to research the market value of coins and stamps?
Are you familiar with any grading services for coins or stamps?
How often do you update your knowledge of coins and stamps?
How do you stay informed about trends in the coin and stamp markets?
Describe a time when you had to make a difficult decision regarding the appraisal of a coin or stamp.
What strategies do you use to ensure accuracy in your appraisals?
How would you handle a customer who disagrees with your appraisal of a coin or stamp?

Common Tools in Industry

Magnifying Glass. Used to closely examine coins and stamps for details and condition. (eg: 10x magnifying glass)
Reference Books. Used to look up information and compare coins and stamps to determine value. (eg: Krause Standard Catalog of World Coins)
Price Guide. Used to determine the current market value of coins and stamps. (eg: The Official Red Book of United States Coins)
Calipers. Used to measure the diameter and thickness of coins and stamps. (eg: digital calipers)
Scales. Used to weigh coins and determine the metal content. (eg: digital scales)
Photography Equipment. Used to capture images of coins and stamps for documentation and sale purposes. (eg: digital camera)
Computer Software. Used to help with research, cataloguing, and pricing. (eg: CoinManage Software)

Professional Organizations to Know

American Philatelic Society (APS)
American Numismatic Association (ANA)
Professional Numismatists Guild (PNG)
International Association of Professional Numismatists (IAPN)
International Bank Note Society (IBNS)
International Association of Professional Coin Graders (IAPCG)
International Association of Currency Affairs (IACA)
American Stamp Dealers Association (ASDA)
American Topical Association (ATA)

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Common Important Terms

Numismatics. The study or collection of coins, paper currency, and related objects.
Philately. The study and collection of stamps, envelopes, and related items.
Grade. A numerical designation assigned to coins and stamps to indicate their condition and value.
Rarity. A measure of the scarcity of a coin or stamp and its collecting value.
Authentication. The process of verifying the genuineness and authenticity of a coin or stamp.
Cataloguing. The process of systematically organizing coins and stamps according to their type, issuing country, and other factors.
Grading Scale. A system of numerical designators used to indicate the condition of coins and stamps.
Market Value. The amount that a particular coin or stamp is worth at a particular time on the open market.
Investment Grade. A numerical designation assigned to coins and stamps based on their rarity and desirability.
Pedigree. A term used to identify coins or stamps that have been in a particular collection or family since the time they were originally issued.

Frequently Asked Questions

What is a stamp appraiser?

A stamp appraiser is an expert who evaluates the value of postage stamps and other philatelic items.

What qualifications does a coins and stamps appraiser need?

To become a coins and stamps appraiser, you need to have an in-depth knowledge of the coins, stamps and philatelic items, as well as their history and market value. You also need to have experience in evaluating them and providing accurate appraisals.

How much does a coins and stamps appraiser typically charge?

Coins and stamps appraisers will typically charge an hourly fee for their services, which can vary depending on their level of expertise.

Are coins and stamps appraisals are recognized by insurance companies?

Yes, many insurance companies will accept coins and stamps appraisals in order to provide coverage for these valuable items.

What is the difference between a coins and stamps appraiser and a numismatist?

A coins and stamps appraiser is an expert who evaluates the value of coins, stamps and other philatelic items, while a numismatist is an expert in the study or collection of coins or currency.