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SIMPLE STEPS TO A SAFER COIN BIDDING & PURCHASE

by: booksandcoins( 134Feedback score is 100 to 499)
8 out of 11 people found this guide helpful.
Guide viewed: 952 times Tags: coins | gold coins | numismatics | grading | buying guide


There are many places to buy coins, the brick-and-mortar stores, auction houses, by catalogues, on eBay is the most exciting if you know how

by booksandcoins and (The) Books and Coins StoreMy Store

Any experienced numismatist would tell you to be watchful where you purchase your coins, even on less expensive coins. The important thing is to research the person or business you are purchasing your desired coin(s) from.  I have well over 40 years of experience and still have to take a step back and take a closer look to what I am buying specially over the internet. The danger of always exists no matter the name of the store of eBay ID name.

You have probably heard the words, location, location, location, they apply to numismatics also, the following simple steps will help you have a very pleasant experience, but for sure will certainly make it safer.

On this guide I am going to refer mostly to eBay, although it applies to all others also.

First, _we get taken by the excitement of the auction, fast paced, and the appearance of trustworthiness, all look a like. You couldn't be more wrong!!!.

Before you start bidding on a coin, find out as much as you can about it, research books, numismatics publications, join a club, attend one of the many ANA classes nationwide in counterfeiting, and grading, among others.

Next, _after you have selected and researched your coin, start with check out the many eBay vendors, not all listings are the same, most eBay sellers are honest and want your experience to be a good one. However, the few that aren't, research what they have sold in the past, and compare it to what they are selling now, check their ebay Feedbacks, some have eBay stores, some have brick and mortar stores or both, The better the seller the more satisfying your experience will be, check for experience, lots of sell may not mean expertise or good customer service, look for the vendor that will share expertise with you, will answer your questions in a reasonable time, and  preferably someone that has been doing this for a period of time with at least 25 items sold, shipped, and buyers satisfied, you can go to the different chat boards, above all ask.

If you are not sure about a coin, and the seller haas a good record shipping the goods, bid on "slabbed" coins, these are coins that have been authenticated, and professionally graded by reputable third party grading companies, like NGC, PCGS, ICG, ANACS, and others like NNC, NTC.

Lastly, try bidding and/or purchasing your coins from ANA members, the American Numismatist Association members must adhere to the ANA  By-laws and mediation program. Even if you pay a little more fore that coin is better than been disillusioned.

Happy bidding, and good luck winning that high grade, high quality coin.

* This guide is for reference use only, use your common sense, I am not responsible for any losses you may have, when using this guide to purchase coins, numismatics is a very volatile investment, and there are no guarantees of profits, or retention of value on some or all of your purchases.


Guide ID: 10000000000795922Guide created: 03/15/06 (updated 05/04/08)

 
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