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Coin buying 101
There are various sources where those “special
coins” can be purchased. The following are the basic methods and
starting places to obtain the coin(s) you have long wanted.
Go local
Coin shops are plentiful in most states. Generally your local
area or city will have coin shops which you can visit to see if
they have the coins available that you want to add to your
collection. Most of these coin shops are located in the larger
town or cities. Better yet, use your local phone book and start
walking those fingers through the pages to find out where the
nearest coin shop(s) is located...
These shops provide coin collectors the opportunity to actually
examine or scrutinize the coins that interest you. Fortunately,
these coin shops are also replete with experts and coin lovers
who share your passion and can offer their valid judgment on a
particular coin’s grade or value. They can also offer helpful
tips as well as advice.
Local coin shops may sometimes have a limited stock or
collection of coins and the price they offer them for may be a
little bit higher than usual. This scenario usually applies to
collectors.
Auctions for coins
There are also auctions specifically for coins. This method is a
very effective – if not excellent – way to purchase coins. It is
extremely important that prior to attending an auction you know
the procedures and rules that apply.
There are various types of auctions; bidding auctions via mail,
internet, as well as auctions conducted by phone. Always be
aware and wary! It is important to make sure that you set a
fixed price on the coin you are about to bid on. Auctions can
turn very emotional and aggressive. Practice discipline and try
not to bid more than the ceiling price you have set for
yourself.
Buying coins by mail
This method is a very convenient and inexpensive way to purchase
coins. Most dealers that transact via mail usually have overhead
costs that are low so they are able to offer similarly low
prices on coins they sell.
Do not forget to thoroughly inspect a particular dealer’s
policies before returning an item. Make sure that once you
receive your coin, immediately inspect it for authenticity or
damage. The coin you must have must be just as you ordered and
what you expected.
In summary, coin buying is not difficult. All you need is to
research and look for the best product available.