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coinfodder's Blog

07 Oct 2020

How to Collect Cool World Coins While Not Breaking Your Budget

Coins-World | coinfodder

For the typical casual collector, some of the rarer coins can be a pinch, and are just out of our disposable income can reach. Accept it. So instead, how about collecting some other cool coins, maybe not in as good of a condition, and building a cool collection off of those coins?

And before anyone complains, the ANA's system for coins has caused these images to come out crooked. Blame them, not me.

And special thanks to Marketplace Antiques in Murphy, North Carolina for the vendor who had these coins for cheap!

Now, to the feature presentation.

If you like the lifestyle of burning money on expensive coins, I don't believe this article will be right for you. But, if you are like me, who has a teeny little pocketbook and hardly can pay for a nice coin without regrets, I think that this would be a good article to read. So, if this interests you, stick around.

To most effectively live the bargain coin lifestyle, learn to bargain. Now, this will work normally only for the more expensive stuff. A good haggler in today's world of online shopping is rare. To combat this, antique markets and coin store will raise their prices 10% (this is also true for other old goods, such as typewriters). This is to take advantage of the people who don't care to bargain for a better deal, as they have been shopping online their whole life. So, learning to haggle is a good shopping deal.

In one travel guide, I read about a good strategy to haggle. However, it is not good for people on a strict time constraint. Don't act too desperate, for this allows dealers to take advantage of your desperation of the object. Instead, act calm, and try not to sweat. First, list your starting price, beginning the haggling process. Then, he will list his price. Then, keep on giving counter-offer. But don't reach the final offer. Before that, WALK OUT THE DOOR and leave.

In several hours (or days) come back, and see if that item is still there. If it is, list out your previous offer. This will assure you will get a much lower price. It doesn't work for everyone, however, and you are taking the risk that the item will not be taken in the time where you wait.

The last main strategy I have is- digging in the bargain bin. Now, this is only cool if you like collecting the random US or World coins that have lined your dealer's display cabinet for years. So, take a good dig in there. You will be surprised at what you find. You know I was.

See ya, and we will continue on our road trip of the United States later!

Comments

Mike

Level 7

Is that George Patton Coinfodder?? I like it!!

coinfodder

Level 5

Yes it is!!

Mal_ANA_YN

Level 4

My grandpa tells me to buy the coins I like and try to make them the best condition or grade I can afford. Great advice.

Kepi

Level 6

I love World coins! My Grandpa left me all his World coins that he had been collecting for years. Bargain baskets can be a great way to find cool coins!

Longstrider

Level 6

Good blog. My dealer has most of his world, circulated coins in a big basket. Buy by the weight. There are some very cool coins in there. Good luck.

Mokie

Level 6

I have a teeny little pocketbook and I also love Foreign coins. I am now about 2/3 the way to finishing my Straits Settlements type set and I cannot wait to complete it and move on to another interesting foreign set. Thanks for putting a spotlight on this wonderful segment of our hobby

Golfer

Level 5

Always fight for a fair price. Good honest dealers will work with you, or explain why they are charging a price and won't budge. The dealer that doesn't mark anything with a price, then tells you a high price when you ask isn't worth dealing with. Research the prices of what your looking for. I have a few world coins, and am more interested in the bullion coins that come out. So many 1 ounce silver coins made by countries. After reading blogs about foreign coibs, i definitely will spend time at a foreign coin dealer and search for something i really like. I do have canadian cent collection.

Mike

Level 7

American coins I have. These ones have the Popes on them. That's world history. I also have some separate ones done really nice. I do have some world coins. That I like also. Thanks for the blog it was interesting.

Stumpy

Level 5

I like world coins, I don't think of them as junk or bargain coins. with only a couple of exception, I only have circulated foreign coins, but I have a lot. Some from my Grandfather, Dad and Uncle, some from my travels while I was in the military and stationed overseas. I have them from the late 1800 to the 2000 Euro coin. I like em. Nice Blog. Later!

DaNumisMasta

Level 5

I recently read an amazing book on haggling, and it covers all of what you just talked about.... I forgot the name of the book, but it has helped me astronomically in bringing the dealers prices WAY down.... Thanks for the info! Cheers, NM

I. R. Bama

Level 5

@ Numismaster... You have to tell us about that book title!!

"SUN"

Level 5

Bargain bins can be rewarding.

I've found my fair share of good coins in bargain bins. I try not to haggle. if the coin is in my budget, and it is a fair price, I just pay it. The dealers deserve it.

I. R. Bama

Level 5

I like Vatican coins ... It's helpful to understand the relationship between dealer prices and their sales points. Look to the Grey Sheet to find the dealer price (wholesale). Dealers will charge 20 to 40 per cent in order to make their profit and are willing to negotiate in good faith as long as you understand they need to be making a living and don't make rediculusly low offers. The prices you see listed by pcgs, green sheet and other sources and you can offer below the offered price. I look at both whole sale and retail prices and make my offer from those parameters. Most dealers are willing to work with you and I agree with the strategy of being willing to walk away and come back later.

World_Coin_Nut

Level 5

Good blog. I started collecting world coins because I got to the point where I couldn't afford the US coins that I needed to complete sets. I rarely purchase US coins anymore although I still appreciate them.

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