Over the past year, many of us have spent much of our time at home, avoiding public spaces and crowds. While at home, it has given many of us time to reconnect to hobbies that we enjoy, whether it be making or listening to music, cooking or baking, reading or writing, or doing jigsaw puzzles. For others, it might be revisiting a collection that has been ignored for a few years. Some of the most popular items to collect include:
- Stamps
- Coins
- Vinyl Records
- Comic Books
- Wine
- Toys
- Antique Jewelry
- Baseball or other trading cards
If you have ever watched an episode of Antiques Roadshow, American Pickers, or Pawn Stars, you no-doubt know that some collectibles are worthless, while others can be worth thousands of dollars. In fact, just this past week, a 1952 Topps Mickey Mantle baseball card sold at auction for 5.2 million dollars!
If you are an avid collector and believe your collection is worth more than a few dollars, it would be a good idea to talk to your insurance agent. While your homeowners insurance does provide some coverage, it is limited to a few hundred dollars for some items and maybe also be limited to the actual cash value and not an appraised value. For that reason, it is best to talk with your agent about scheduling valuable collections and document your collection with descriptions, photos, and appraisals.
Have fun collecting and give us a call in the event you find out your collection is worth more than you once thought.
