Hello to all my fellow coin collectors on eBay, and thank you for taking the time to read my guide.   I have written several guides prior to this one and I have decided to try to consolidate all my knowledge into a single cover-all guide.  This guide is written with Canadian collectors in mind, but most of the information I'm sharing is universal to the hobby and can be used by anyone.

1.  Buy the book; it'll tell you what you've got, what it's worth, and what to get next.  A good book will save you the pain of paying too much for a coin, buying something other than what you hoped for, or buying an outright counterfeit.   Price guides may also alert you to a variety that the seller has missed, and can allow you to buy a valuable piece at a bargain price.  Good price guides can be had for under $30, and are essential tools to anyone with a desire to collect.  For Canadian collectors I recommend the Charlton Standard Catalogue, and for American coins Red Book is the consensus for many collectors.

2.  Buy a magnifier, it's the best way to view your coins and it will help detect the small varieties that make a big difference in price.  When you buy a magnifier, buy a glass one, the clarity of glass is significantly better than anything plastic can do for you.

3. Know your seller.  Before you decide to bid take a look at their feedback, pay attention to their location and read the fine print.  Some sellers make their money -- and avoid eBay fees -- through inflated shipping prices. A good seller will have a full refund policy, will state shipping and handling costs up front and makes an honest assessment of the coins they are selling.  Too often buyers will buy a F-12 coin at excessive prices because a crooked seller has listed it as uncirculated.  When it comes to bidders in exotic locatons, my advice is simple; NEVER buy rare coins from China, they're either fakes, or they won't come at all.  If you are unsure about an item, ask.  A good seller will answer your questions in a timely and honest fashion while a dishonest seller with be brief and generally unhelpful if they respond at all.
 
4.  If you want to make money in the hobby, you will rarely do it in a few short months.  Hold onto your coins, they take time to appreciate in value, and that means years,  not months.  If you are looking for a get-rich-quick scheme, you're in the wrong hobby; if you're willing to wait, you have the potential to see a nice return on your investment.

5.  High grades and key dates appreciate in value more than low grades and common coins.  Don't take my word for it, compare this years' prices to the ones listed in last year's price guide.  You'll find the same thing I did,  it's predominantly the MS65s and MS64s and the key dates that have increased in value.  

6.  Buy the best example you can.  Given the choice of a handful of nice coins or a single great coin, I would buy the great one every time.  You won't build a massive collection, but you will have a collection that will hold up well through the ups and downs of the coin collecting market.  I would rather have a collection of a few dozen high grade keys and semi keys than a collection of thousands of coins in average condition.  If they're worth the same value now,  mine stands a far greater chance of being worth more ten years from now. Of course, money isn't everything, and if you desire a wide variety to your collection, go ahead.  You may find that you have greater enjoyment from a massive pile of coins than you would from a single top quality piece.

7.  This next piece of advice is intended for the collectors who would like to profit from their collection in the future.  When it comes to damaged coins, my advice is don't buy them.  They are hard to sell, and are do not command the prices of an undamaged piece.  If you have a choice between a Fine coin that has been damaged, or a problem free Very Good example of the same coin, I recommend buying the lower grade.  Undamaged coins are easier to sell, and they have the originality that most collectors want. 

8.  Coin collecting doesn't necessarily mean buying hundred year old coins for hundreds of dollars.  There are some great opportunities to find valuable coins in your pocket change.  The best way to do this is to read the books, and familiarize yourself with the varieties out there.  Learn to recognize the 1965 Large bead nickel, o the cent varieties from the reign of George VI -- the 1949 A points and 1948 A between can still be found occasionally.  The 1973 Large Bust Quarter is in high demand in any condition, as is the 1991 quarter.  The average citizen doesn't look close enough at their change to notice these small differences, so these haven't all been picked out of your change.  If you do happen to find one of these circulating varieties, you can sell it and use the profits to purchase a coin you really want.  Banks are my favorite way to search for varieties. All you need to do is ask for rolls of coins,  and search through the roll pulling out coins of interest.  Replace them with common coins, and you've got an instant collection.  Take these back to the bank and repeat the process.  If you're patient, and thorough, you can make a lot of money with minimal effort. 

9.  When you are buying coins in higher grades (or key dates),  the best guarantee of the quality of your coins comes from a professional grading service.  In Canada the ICCS and CCCS are the most trusted grading services.  The consensus number one in the USA is PCGS.  These companies guarantee the coin is genuine, they note the grade and condition of the coin,  as well as any significant features.  Best of all, they protect the coin to ensure that its condition does not change in the future.  The average collector can make a reasonable grading estimate for most mid grade coins,  but tend to lose accuracy in the higher grades where a single point can mean hundreds or thousands of dollars difference.  If you don't want to risk losing hundreds of dollars on a coin that has been over-graded by the seller, buy a professionally graded example. 

10.  Another key with graded coins is to know the difference between Mint State and Proof Like (or Numismatic BU for newer coins).  Just because the holder says 65 doesn't mean the coin matches the price in the guide.  In Canada a PL-65 is generally worth much less than the same coin in MS-65.  The difference is simple,  MS coins came from circulation while PL came sealed from the mint and never had the chance to be handled by the public.  Knowing the difference can prevent you from spending big dollars on a coin that isn't what you thought it was.

11.  A small warning needs to be mentioned about modern high grade coins.  High grade coins get their value from the scarcity of coins in like condition.  An 1858 large cent in MS-65 won't have many equals,  and you certainly won't be likely to find any.  A 2007 cent in MS-67 also won't have many equals,  but there is still the potential to find one. The 2007 coin you buy as the solo highest known could quickly find many peers, while there aren't likely to be many MS-65 large cents that have not yet been certified.  The uncertainty of whether your coin can hold up as the single best example is much greater for modern coins, and therefore you would be wise to keep this in mind before spending huge amounts on a modern high grade rarity.

12.  Buying lots for a single coin within them can be a profitable venture.  I have found that many of the lots I have purchased are sold by a seller without much knowledge who just wants to get rid of the entire collection.  It is not unheard of to buy a lot,  pluck one or two examples from the pile, and sell the remainder for a profit.  There is a slight risk to this, some sellers will often use lot sales to dump their worn, beat, bent junk coins in one go;  there's not much of value in these lots.  The best lots come from sellers with little knowledge, often those who have inherited a collection and have no interest in its contents.  These can be goldmines to the informed collector.

13.  Be careful with the buy-it-now items with a submit best offer option.  Many sellers will have a $10 item,  list at a buy-it-now of $40 with a submit best offer option.  A buyer who thinks he's making a lowball offer of $20 is still paying double the value of the item.  Offer what the book price is,  not a price that tries to make a compromise with the seller.  There is a second piece of information for buy-it-now sales;  the good deals go early, so if a buy-it-now doesn't sell for several weeks,  there might be a good reason for it.  Don't waste your money on those coins.  When you search the buy-it-now auctions, start with the ones that have been listed most recently.

14.  One final tip for all you collectors: buy what YOU want.  Everybody's collecting interests are different,  for ever Silver Dollar collector who swears by the Dollars, there is a dime collector who will swear by his collection with just as much passion.  Buy a few, or buy a lot,  the key to longevity in this hobby is to be happy with your collection.  If you don't like what you've got, you'll lose interest. 

I hope you've enjoyed reading this guide as much as I enjoyed writing it.  If you have found this useful,  please click Yes,  and let me know.