| While coin collecting is a fun and enjoyable | | | | prices to be found, simply because the demand |
| hobby for most of us, there is no reason it | | | | is so strong for these coins. In most cases |
| can't be a profitable endeavor also with a | | | | the dealer had to pay top price himself and |
| well thought out plan. If you are just | | | | is unwilling or unable to discount the coin. |
| starting your collection or advancing to the | | | | |
| serious money stage lets consider these facts | | | | Major coin shows are a good place to find a |
| before taking the plunge. | | | | wide variety of the coins that you are |
| | | | looking for under one roof with knowledgeable |
| The key dates and semi-keys of any series | | | | dealers from all over the country. Internet |
| have out preformed the common dates in all | | | | auctions are risky at best, especially when |
| grades in the past and there is no | | | | buying raw coins. Be very cautious because a |
| fundamental reason for that to change in the | | | | lot of the sellers don't know how to grade |
| future. The market for these scarce low | | | | coins, much less know if the coin is a fake. |
| mintage coins is driven by supply and demand | | | | They state in their write up description of |
| and new collectors coming into the market | | | | the coin something to the effect, "We are not |
| should keep the demand strong and healthy. On | | | | coin graders you grade using the pictures or |
| the other side of the coin, no pun intended. | | | | the scans we have provided." The sad part is |
| If you are going to spend money buying coins | | | | the Companies running these auctions make big |
| for your collection, why not buy key and | | | | bucks from the listing fees, final value fees |
| semi-keys with more potential value | | | | etc., yet they take no responsibility for |
| appreciation in the future? The investment | | | | what is being sold to the buyer and they |
| theory here is that the coins will have to be | | | | don't do anything to stop the sellers from |
| held for a period of time, maybe years before | | | | selling coins under these circumstances. |
| a profit can be realized. | | | | Avoid this type of auction completely. |
| | | | |
| Should one buy slabbed or raw coins? Keep in | | | | Learn to grade the coins that you are |
| mind there are fake coins on the market, | | | | interested in before you buy the coins! The |
| especially expensive key date coins. Set a | | | | ANA (American Numismatic Association) |
| limit that you are willing to pay for a raw | | | | publishes a good book on coin grading called |
| coin and don't go over it. When buying coins | | | | ANA Grading Standards. Buy the book. Many |
| graded by one of the major grading services, | | | | books and articles have been written by |
| ANACS, ICG, NGC and PCGS you can pretty much | | | | experts on coin grading and are available for |
| be assured the coin is genuine and the | | | | specific coin series. Remember coin grading |
| assigned grade is close to correct. Don't | | | | is not an exact science it is a subjective |
| buy coins graded by inferior or less known | | | | matter that is why it is important that you |
| grading services. Note: I have seen slabbed | | | | become a knowledgeable grader yourself. |
| coins that have changed in color and toning | | | | |
| from when they were originally graded due to | | | | Any type of investing carries risk and the |
| improper storage over time. | | | | rare coin market is no different than other |
| | | | markets in that respect. The coin market can |
| Buy from a well established dealer so that | | | | be and is very volatile at times. You could |
| you can return the coin in the event that you | | | | loose your money or not make any money at |
| are not happy with your purchase. Expect to | | | | all. You should never invest more money than |
| pay close to the current book value for | | | | you can afford to loose. No one can look into |
| problem free key-dates and semi-keys. If the | | | | a magic crystal ball and predict the future. |
| asking price sounds too good to be true it | | | | If that was true we would all be |
| probably is. There are no bargain basement | | | | multi-millionaires! |