I Inherited a Collection of Gold and Silver Coins in Gijón, Asturias: What Do I Do Now?
You lost a family member and something unexpected appeared among their belongings: a box of old coins, some gold, others silver, perhaps old banknotes, ingots, or medals. You don’t know if they are worth a lot or a little. You don’t know if someone is trying to cheat you when you ask. You don’t know where to start.
This guide is written exactly for you.
In the next few minutes, you will understand what types of items usually appear in numismatic inheritances, which are the most valuable, what mistakes to avoid before selling, and how to get a fair price for an inherited collection in Asturias without needing to be an expert in anything.
First: Don't Do Anything Yet
Before anything else, there are three things you must not do with an inherited collection:
Do not clean the coins. It is the most costly and most frequent mistake. A gold or silver coin with its natural patina is worth much more than the same coin after being cleaned with water, vinegar, or any product. The patina is a sign of authenticity and age: collectors value it immensely. Cleaning a coin can destroy 70% of its value in seconds.
Do not throw anything away. Even if a box seems full of common coins with no value, it may hide exceptional pieces among the apparently ordinary. Heirs who have thrown away "the ugly or dirty coins" without checking them first have made mistakes that are later impossible to correct.
Do not sell in a rush to the first offer. Inheritances generate emotional and financial urgency that can lead you to accept the first offer you receive without knowing if it is fair. Take the time necessary to get informed. A free appraisal at a specialized numismatics shop like ours in Gijón does not commit you to anything and could make a difference of hundreds or thousands of euros.
What Usually Appears in a Numismatic Inheritance
Inherited collections in Asturias and the rest of Spain usually contain a mix of items that vary greatly in value. These are the most frequent categories:
Gold Coins
These are the items that concentrate the most value by size and weight. In Spanish inheritances, the most common gold coins are:
Mexican Gold Centenarios — The most popular gold coin in Spain for decades. It contains 37.5 grams of pure gold and its value fluctuates between 2,500 and 3,500 euros depending on the current gold price. If you find a large, gold coin with the Mexican coat of arms and the date "1821–1947" or similar, it is likely a Centenario. It is one of the most valuable items that can appear in an inheritance.
Gold Sovereigns — British gold coins with the profile of Queen Victoria, Edward VII, or George V. They contain approximately 7.3 grams of 22-karat gold. Their current value is around 450–600 euros per piece. They are very frequent in Spanish collections from the first half of the 20th century.
Old Spanish Gold Coins — Alfonso XII's 25-peseta gold coins, 19th-century 100-peseta gold coins, and Isabeline coins are pieces that appear with some frequency in Asturian inheritances. Their value combines the price of gold with a significant numismatic premium.
French 20-Franc Gold Coins — 19th and early 20th-century French coins that were widespread in Spain. They contain approximately 5.8 grams of gold. They are worth between 300 and 450 euros depending on condition and date.
South African Krugerrand — If you find a large, gold coin with an antelope and a 20th-century date, it could be a Krugerrand, the best-selling gold investment coin in the world. A full ounce is currently worth around 2,400–2,800 euros.
Silver Coins
Silver coins are the most abundant in Spanish numismatic inheritances. Their value depends both on the silver content and collector interest:
Silver "Duros" — The 5-peseta silver coins of Amadeo I, Alfonso XII, and Alfonso XIII are common pieces in 20th-century inheritances. Depending on the year and condition, they can be worth between 20 and several hundred euros each.
Silver Ounces — If you find large silver coins with the inscription "1 troy ounce" or "999 fine silver," these are pure silver investment coins. Their value is tied to the price of silver, currently between 25 and 40 euros per ounce depending on the piece.
2,000-Peseta Silver Coins — The commemorative 2,000-peseta silver issues minted between 1994 and 2001 appear frequently in recent inheritances. Depending on the issue and condition, they are worth between 15 and 80 euros.
Columnarios and "Reales de a Ocho" — If the inherited collection is old, Spanish colonial silver coins may appear. A "real de a ocho" in good condition can be worth between 100 and several thousand euros depending on the mint and date.
Gold and Silver Ingots
Certified gold or silver ingots are the easiest items to value: their price depends directly on the weight and purity of the metal. A 100-gram gold ingot is currently worth around 7,500–8,000 euros. 1 kg silver ingots are worth between 800 and 1,000 euros. If you find ingots in the inheritance, look for the certificate of authenticity that should accompany them: it increases their value in the resale market.
Medals and Decorations
Military, religious, and commemorative medals can have value both for the metal they contain and for their historical interest. Civil War decorations, colonial-era medals, and certain old religious medals are especially sought after by specialized collectors.
Old Banknotes
It is common for peseta banknotes, foreign banknotes, or even banknotes from countries that no longer exist to appear alongside the coins. Do not discard them without checking: some Spanish Republic banknotes or certain old American dollars can be worth much more than they appear.
How Much Can an Inherited Collection Be Worth?
It is impossible to give a figure without seeing the pieces, but for reference, these are common real-life scenarios in the numismatic inheritances we manage at our numismatics shop in Gijón:
A box with 20 silver "duros" of Alfonso XII in average condition can be worth between 400 and 1,200 euros. If among them there is a rare date or a piece in exceptional condition, the figure can double.
A Mexican Gold Centenario found among old papers is worth between 2,500 and 3,500 euros on its own, regardless of the rest of the collection.
A mixed collection of silver peseta coins, Republic banknotes, and some foreign coins can easily be worth between 500 and 3,000 euros if the pieces are in good condition.
A 10-gram gold ingot found in a family safe is currently worth between 700 and 800 euros.
What these figures illustrate is that a seemingly modest numismatic inheritance can have a value much higher than you imagine. And also, that the difference between selling well and selling poorly can be hundreds or thousands of euros depending on who you go to.
How to Get a Fair Price for an Inherited Collection
These are the steps we recommend following if you have inherited coins, banknotes, or precious metals:
Step 1: Inventory without touching. Make an approximate list of what you have (large gold coins, small silver coins, banknotes, ingots) and photograph each piece on both sides in good light. Do not clean or separate anything yet.
Step 2: Look for documentation. Check if there are certificates of authenticity, purchase invoices, catalogs, or any document that accompanies the pieces. This information can significantly increase the resale value.
Step 3: Consult a specialist before selling. A specialized numismatics shop like ours in Gijón performs free, no-obligation appraisals. You can send us photographs in advance or bring the pieces directly to the shop. In both cases, you will receive an honest valuation based on real market prices.
Step 4: Compare if you need to. If the collection is of high value, there is no problem in asking for a second opinion. A serious professional has no issue with you doing so. What you should avoid is selling to the first person who makes you an offer without knowing the real value of what you have.
Step 5: Sell with peace of mind. Once you know the value of your collection, you can make the decision to sell with all the information. In our shop, payment is immediate and by cash or bank transfer, as you prefer.
Why Choose Us to Manage Your Numismatic Inheritance in Asturias
We know that managing an inheritance is a delicate moment. That is why our approach is always transparency and a human touch:
Free, no-obligation appraisal. We don't charge anything to value your collection, even if you decide not to sell. It is a service we offer because we believe you deserve to know what you have.
Prices based on the real market. Our offers are calculated based on the updated market price of gold and silver and real numismatic market prices, not on what is convenient for us to pay.
Experience with inheritances. We have managed dozens of inherited collections in Asturias. We know how to identify valuable pieces, separate what is worth selling individually from what should be sold for the metal, and explain the entire process clearly.
Total discretion. Inheritances are personal and family matters. We treat every case with the confidentiality and respect it deserves.
Service in Gijón and throughout Asturias. You can visit us at our shop in Gijón or send us photographs from anywhere in Asturias for a preliminary valuation. And if you prefer, we can come to your home for free in any council of Asturias, with no obligation and no minimum number of pieces, after seeing some photos via WhatsApp. We explain this in numismatics at home in Asturias.
Frequently Asked Questions about Inheritances of Coins and Precious Metals
Do I have to declare the inherited gold coins to the Tax Agency?
Inherited coins and precious metals are part of the inheritance estate and must be included in the Inheritance Tax declaration. Their valuation for tax purposes is based on the market value at the date of death. If you sell them later, the difference between the value declared in the inheritance and the sale price can generate a capital gain subject to personal income tax (IRPF). We recommend consulting with a tax advisor for your specific case, as in Asturias there are bonuses in the Inheritance Tax that can significantly reduce the tax burden.
How do I know if a gold coin is authentic?
The authenticity of a gold coin is verified through several non-destructive tests: exact weight on a precision scale, density of the metal (gold has a very specific density that is difficult to forge), XRF analysis of the metal composition, and visual verification of the minting details. In our numismatics shop in Gijón, we have all these means and we verify the authenticity of any coin at no additional cost during the appraisal.
Is it better to sell coins separately or in a lot?
It depends on the type of pieces. Coins of high numismatic value (rare pieces, good condition, scarce dates) should be sold individually to maximize the price. Coins with mainly metallic value (silver or gold bullion in normal condition) can be sold in a lot without losing much value. In our appraisal, we will indicate which pieces are worth separating and which are best grouped.
Can I sell inherited coins even if I don't have the original papers?
Yes, most coins and ingots can be sold without original purchase documentation. In the case of ingots, the certificate of authenticity adds value but is not essential for the sale. For the transfer of precious metals above certain thresholds, there is an obligation to identify the seller (DNI), but it is a simple procedure that we manage.
How long does the appraisal and sale process take?
A standard appraisal of a medium-sized collection (up to 50-100 pieces) is performed on the same day in our shop in Gijón. If you accept the offer, payment is immediate. For larger collections or pieces that require additional research, we may need 24-48 hours to give you a definitive valuation.
What happens if there are fake coins in the collection?
It is more common than it seems to find some reproductions or forgeries in inheritances, especially of very valuable coins like Centenarios or historical gold coins. If we detect inauthentic pieces during the appraisal, we will inform you with total transparency. Reproductions have no numismatic value, but some may have artistic or decorative value. We will never charge you for identifying them.
Do you also buy gold watches or jewelry that come with the collection?
Yes, in addition to numismatics, we buy gold in any form: jewelry, watches, gold teeth, and silver objects. If there are jewelry or watch pieces next to the inherited collection, we can value everything in the same visit so that you do not have to make multiple arrangements.
Visit Us in Gijón or Consult Us from Anywhere in Asturias
If you have inherited gold coins, silver, old banknotes, or ingots and you live in Asturias, we are here to help you. The appraisal is free, the treatment is human, and the price we offer is what your collection is really worth on the current market.
You can come directly to our coin shop in Gijón without an appointment for individual pieces, or call us to schedule an appointment if you are bringing a large collection. We also handle inquiries via photograph for collectors in Oviedo, Avilés, Langreo, Mieres, and any other Asturian municipality.
Don't let a collection with real value end up being sold for too little due to a lack of information. Consult us first: it costs you nothing and can make a very important difference.
Your trusted coin shop in Asturias. We appraise inheritances with transparency, experience, and fair pricing.