How to Insure Coin Collection

Inventory your collection. Catalogue each coin, noting its providence, condition and the price that you paid for it. Take pictures of the coins individually. Close ups of each side provide the best documentation. Keep the pictures and the list of coins in a separate location from where the collection is stored.

Get an appraisal from a professional coin collector. They should use a Blue Book or Red Book for coin appraisals. You will receive more documents from this process. Keep the original with your important papers, and send a copy of the appraisal to your insurance carrier.

Check with your homeowner's or renters insurance carrier. They can add riders to your policy, which can provide replacement coverage. This also increases your premiums. Rare coins should be listed with their appraised value. Old, irreplaceable coins can be covered under separate riders.

Shop around for insurance. Because of the increasing value that rare coins enjoy, it may get quite expensive to keep them insured. Get quotes on your initial investment, as well as replacement value. See the Resources section for coin insurers. Find out the things you can do to get better rates, such as keeping your coins in a safety deposit box or a fireproof safe.