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