Things You'll Need
Instructions
Coins
Buy recent copies of The Official Whitman Red Book of U.S. Coins and The Standard Catalog of World Coins. There are a few editions of the latter book, all divided up by by century, so buy the appropriate edition or editions for your collection. Both books are considered indispensable for coin collectors and contain thousands of pictures of coins and information regarding pricing, metals used and grades. Prices change constantly, so you'll need to buy new editions each year, but these guides are a good first step toward appraising your collection.
Study your collection and determine the grade of each coin. You may also consider cleaning some of your coins but be very careful when doing so. Some coins are actually worth more with some discoloration and cleaning them can decrease their value; this varies from coin to coin, so consult your guides or a professional coin appraiser before cleaning anything in your collection. There are many subtle grades used to determine the value of a coin, ranging from perfect, mint condition to very worn and scratched, but still identifiable. The differences between some grades can be very minute, so determining grade will take some practice before you can do so with accuracy.
Take your collection to a professional appraiser. Most appraisers will charge a fee for a full appraisal of a collection but if you're sure of the worth of your collection, it will be worth getting a professional opinion to verify your own findings. It is unfortunate, but if you plan on selling your collection to a dealer, it's easy to get scammed if you're unsure of the value of your collection. If you can find a coin show near you, you will be able to have several professionals look over your collection, but take their advice with a grain of salt, particularly if you plan on selling to them.
Paper Money
Buy current copies of the Standard Catalog of United States Money and the appropriate edition or editions of the Standard Catalog of World Money from Krause Publications. These, like their coin-centered counterparts, are considered indispensable by serious paper money collectors. You should buy the newest edition each year to keep up with any changes in pricing. These catalogs contain thousands of pictures of common and rare paper monies from the United States and around the world, respectively.
Review the Heritage Auctions Gallery Currency Grading Tutorial and your books to learn how to grade your paper money. Like with coins, there are many subtle nuances between each grade and determining the grade can be difficult until you train your eye to recognize all of the subtleties and tiny imperfections that can depreciate the value of old currency by hundreds and sometimes thousands of dollars.
Have your collection appraised by a professional currency appraiser. Be prepared to pay a nominal fee for the appraiser's services. Many coin shows will have dealers that work with paper money, so you should plan on attending if one happens to be going on near you. Like with coins, it can be easy to get scammed by unscrupulous dealers at these shows so do not take their appraisals at face value. Be firm in your own appraisal of your collection and get several opinions before making any final decisions.