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Finding Rare and Collectible Coins
Coin collecting was started only as a hobby for most people,
however you can hear what other people say (or you probably have
heard yourself) about news of people cashing in on their old
coin; and that encouraged more people to go on a coin-collecting
streak. If you are one of those people who want to invest in
coins, here are several places to start your collection.
Coin Shops:
Many shop owners are dealers that know a lot of information
about coins and are selling coins too. These coin shops are a
valuable place to find and gain more information about coins and
coin collecting. These coin shops can be costly, though, as they
are anticipating selling their coins for a profit. With enough
knowledge and/or having someone who know a great deal about coin
collecting at your side, you can get great prices for your
coins.
Coin Shows:
There are times when your local mall will have an exhibit from
several coin dealers and that will let you see all of the
collections and allow you to buy some coins for a lower price
due to the competition. You will probably also see several new
coins that are available and suitable for your collection.
These coins shows are great not only for sellers and buyers but
also for coin enthusiasts who want to see rare and hard to find
coins.
Mail Orders/Web Sites:
There are thousands of dealers worldwide and most of them have
websites that allow buy coins and pay for them through mail
order or through any online payment system such as Paypal. You
should do your research on these companies and read their terms
carefully to make sure that you can get your money back when you
have a problem with the coin you purchased and/or received.
For every legitimate web site, there are may be hundreds of fake
web sites that are just attempting to get your money. You should
always ask for feedback from previous customers before paying
anybody online and remember not to give out any password or pin
numbers.
Flea Markets:
It would be surprising place to find rare coins at a flea
market, but stranger things have happened. These places have
different ideas about pricing which is due to their lack of
understanding of how a coin should be priced. You will find
overpriced coins but if you are lucky you might find a rare coin
somewhere in those stacks of coins that will make it worth your
while.
Flea markets sellers are usually looking for a quick sell and
would probably give you discounts when you buy their items in
bulk. Try to buy other items and get your coins added as a
bonus.
Auctions:
If you are looking to invest in really, really rare coins, the
best place to go would be an auction. Auctions are the only
place where you can find people selling their rarest and most
expensive coins. Several of these auctions are happening online
at the same time and most of the sellers are looking for the
highest bidders. You must be aware and warned that some of these
sellers are frauds and will not make the price you pay
worthwhile. You should try to learn more about these coins and
their worth before trying to buy one from an online auction.
Other Coin Collectors:
Coin collectors usually have duplicate coins that they are
willing to sell for a price lower than its market value. The
only problem is it is hard to find another coin collector that
collects the same coins as you. The best places to look are
online groups, forums and (if you have one) local groups.
Other coin collectors are the best people to turn into when you
want to start your own collection. They can offer you tips,
discounts and some might even be tempted to give you some of
their coins to kick-start your collection.
Coin collecting is like any other investment the value will
fluctuate: they may depreciate in value and/or gain value at any
time. The best way to profit in coin collecting is keep updated
with the news and the prices of the coins. This will not only
help you in not being fooled by merchants but by learning how to
price a coin even without a price list.