| Many people associate coin collecting with | | | | coin collectors. Grades are what are used to |
| individuals who have taken up the hobby of finding | | | | determine the condition of the coin thus deciding |
| rare coins. That may have been the case ages | | | | how much it is worth if it is to be sold. Grading |
| ago when people first started coin collecting, but | | | | companies that have earned a good reputation |
| now the hobby has its own little world. Collectors | | | | with the coin collecting community will make their |
| can be anyone from the stereotypical rare coin | | | | money by grading a coin or collection, usually |
| seekers to people who just get a kick out of | | | | fairly, for a small price from the collector. |
| collecting coins from a year they favor or coins | | | | There are companies who have mimicked this as |
| they just think are pretty. There are even people | | | | a means to scam coin collectors who aren't |
| and companies who have made a very profitable | | | | familiar with the process. Some of these fake |
| business from the coin collecting community. | | | | companies will require coins to be mailed in and |
| Companies that make their money from coin | | | | then keep them, costing the customer everything. |
| collectors can do a variety of things. The most | | | | Others will charge a high fee and then provide a |
| common way to make money is to buy and sell | | | | fake or wrong grade after they've gotten their |
| coins. There are hundreds of companies on-line | | | | money. In many cases these companies will |
| that have a collection of coins for sale that range | | | | purposely provide the wrong grade and then buy |
| in prices from a couple of dollars to extremely | | | | a coin for much less than it is worth, making huge |
| rare coins worth over ten thousand dollars. Coin | | | | profits from unsuspecting people. |
| dealers and stores that have a wide selection | | | | It therefore always recommended to make sure |
| available will be the ones to get the most business | | | | you know who you are dealing with. There are |
| since there are so many different types of | | | | many ways to take out some insurance for this, |
| collections a person can have. If they've cornered | | | | for example:a) Go with a friend or with someone |
| the market on a specific rare coin then it is a sure | | | | you trust and who knows the dealer so he can |
| way for them to be considered the best. | | | | introduce you.b) Ask your local club for referrals.c) |
| Grading companies also make a high profit from | | | | Do an online background check. |