Coin Buying Tips
Set a limit and stick to it
- It’s easy to get caught up in the excitement of finding a coin (or two) you’ve been looking for and spending more than you should. If you set a limit on how much you’re going to spend before going to a coin show or into a coin shop it’ll be easier to stay within your budget.
Don’t invest more money than you can afford to lose. Nothing is guaranteed to go up in value.
Look for coins graded by a major grading service
- There’s lots of grading services but not all of them are reputable. Become familiar with the major services and stick with them.
Buy from established dealers or shops
- You wouldn’t buy stocks from just anyone and you shouldn’t buy coins from just anyone either. At least not unless you’re a long time expert. Buying from reputable dealers or shops gives you the ability to return the coin if you decide you’re not happy with it.
If it sounds too good to be true
- Yep, it probably is. Nobody’s giving coins away, so that unbelievably cheap coin is probably just that-cheap.
Major coin shows can be a great place to find both a large selection and a large variety. The dealers come from all over the country and they’re very knowledgeable. And they’re usually quite willing to share their knowledge.
Buy a good book on coin grading, then you can learn about the grading for the coins you’re interested in before you buy them.
Articles compliments of skaDoogle
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