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user_95414's Blog

12 Feb 2019

Buying coins online

Coins | user_95414

Hi I see all of these online coin websites where you can buy the but I don’t know witch ones are trustworthy. Please can you tell me witch ones to trust to buy from. Thankyou. 

Comments

Thesgguy

Level 2

There will be two types of collectors. The conservative and the adventurers. Conservative 1. You get what you pay for. 2. Nothing beats viewing the coin itself, not photos. Adventurous 1. Believe in bargain hunting. 2. Believe that risks can be mitigated in the "long run" of buying carefully. Savings>Losses from mistake. Both camps have their merit and good reasons for doing so. The internet is the wild west, with known fake slabs from reputable TPG. In my opinion the best protection will be buying slabs of the top 4 TPG, from reputable online sellers/auctions. Not risk free, but risk will be significantly lower. Nothing beats buying from a reputable dealer, see/touch and judge the coin for yourself. That will certainly come at a price higher than what you will get by trying your best judgement from photos.. which is really satisfying if your judgement turns out to be correct (you get the coins at a lower price than the conservatives are paying for)

As Big Nub said, do your homework. Look not only at the seller, but where the material is coming from. I have bought hundreds of coins, stamps and autographs from all over the world. BUT I won't buy ancient coins from any seller in Bulgaria. I am probably excluding a number of really trustworthy seller there, but Bulgaria is a real center for ancient counterfeit, so why even expose myself to the potential. Look at the feedbacks and ask your friends in the hobby if they have any input on the Seller. Also dealing with eBay Sellers who also have Brick and Mortar businesses can add a layer of safety.

Kepi

Level 6

A local dealer is the best. I buy on eBay sometimes, but check out the seller feedback. If you pay with PayPal you automatically get buyers protection. Have fun searching!

CoinLady

Level 6

I would not buy anything sight unseen. Agree w/Longstrider...buy from a local trusted dealer.

Mokie

Level 6

I agree with Big Nub, if you plan on making a substantial purchase either in volume or by price, I would always recommend a local coin shop or a coin show. Nothing like seeing the coin first hand and maybe engaging in a little price negotiation. I do buy the majority of my coins from EBAY but I always buy from dealers with 100% positive feedback and at least 1000 feedback entries. There are lots of dealers that fit that criteria, I would also check the already SOLD price of the same coin so I get an idea of what the price is averaging for a given grade. Once you have a maximum price you want to pay, either find a buy-it-now that does not exceed that price or bid no more than that price.

Mike

Level 7

You have to start with a dealer. Look for a recommend one any one . Yes there are good sellers on ebay. If you do your homework read the negative feed back the complaints I have several honest dealers on ebay. Never stuck me. But I had to find them.Ebay also has a guarantee. Most honest sellers anywhere will give two weeks of thirty days . You have so much to learn. It's not a hobby were you wake up and say today in will start collecting coins you have books to buy so you know what your collexting. I could go on and on but no one person can answer your questions get in touch with the educational department please for yourself. They can help tell you were a club is by you. Join a club. Can't go wrong there. And enjoy it. Mike

Do your research. I would stick to buying in person unless you are incapable of doing so. Only buy coins from eBay if they have high ratings, good feedback and verify with NGC and PCGS if they are slabbed.

Longstrider

Level 6

I figure none. Especially eBay. You need to do your homework. Check their feedback and return policy. If I was you I would only by from a local trusted dealer. I know it's tough to start out but we all did it. Also some online auction houses are good. Maybe to high for you starting out. Good luck.

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