Best place to purchase coins
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14 posts in this topic

I'm tired of buying off eBay. I have purchased from US Mint reserve and another national company but I want to buy safely without getting a bad deal (way more than book value). Any suggestions would be helpful.

 

thanx

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I believe that you and everyone who’s on the forum would love to find a situation like you describe.  I will start with this: collecting is a challenge and a little book learning and real-time experience. 

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Local dealers you trust. Dealers you see multiple times at coin shows and can examine their wares. One good way to evaluate a dealer is to buy a few small-value coins and see how honestly they grade and how fairly they price.

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Your question is far too vague and all-encompassing to even begin to answer; are you looking for raw coins, certified coins, US coins, world coins etc...    There are many different venues and types of vendors depending on what your seeking.   However as a general rule most dealers/auction houses be it on-line or in person are not there to sell at discounts.   An old phrase but true "there is no Santa Claus in coins".   That does not mean that you cannot get deals, but that requires some work on your part and some occasional luck.

If there is a local brick and mortar coin store (or two) near you I suggest that you go in and engage the owners, discuss what interests you and see if they carry material that you like.   As you build a repour with the owners; and usually after you buy a few things, they are more likely to want to work with you and be willing to give a small discount and give you first crack and cherrypick new material.   If you have done some research and know what your looking for you may be able to find a nice variety coin in a dealers inventory that he missed, that is the very best way to get a bargain.   Again this does not happen without some effort on your part to establish and build the relationship.

Some areas of the country still have local live auctions, if there is one in your area then that can be a good way to find some deals.  However you will need to be very confident in your abilities to both grade and spot problem/counterfeit coins.

Going to coin clubs in your area is a good way to connect with other collectors, some of my best buys have happened by buying from other collectors on forums like here and the PCGS forum. 

There are ways to find good coins for good prices but expecting to buy better than average coins for basement level prices is just not a realistic expectation.

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Wow, thanx for the all the advice. I'm into ASE's, Morgans and Peace dollars mostly. I like to get coins graded (even though it's not really recommended by you experienced collectors). I really don't expect discount, but am I naive to want coins close to book value ? Thanx for advice :) 

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It doesn’t hurt to make offers either , most of the time if I see a coin that I really like I’ll make offer less 15%-20% than High retail price. Sometimes even lower for certain coins that aren’t in high demands but I want them to complete my collection set , I should  be able to haggle a good price on coins that been sitting around that haven’t been in demand for a while . If dealer says No , oh well his loss his coin can sit there collecting dust ! Move on to the next dealer most coins are common on market you shouldn’t have pay high price for them they are a dime dozen can find them anywhere grading is matter of another subject only way you’re going to get good at grading is study and study and study coin by looking that them and compare them Grading online photos 

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On 7/19/2021 at 8:07 PM, ldhall said:

Thanx, has anybody dealt with Great Collectors ?

I am assuming that you are referring to Great Collections, yes I have bought and sold with Ian and his staff.   Top notch firm and you will find a lot of very nice coins on his auction site, as is true of most auction venues some things can be had inexpensively and others go for moon money.   In case your are not aware the items you listed that you are interested in happen to be some of the hottest coin items right now.   The rise in silver prices and the increased interest from the 2021 mint Morgan and Peace dollar releases have pushed the prices of even the most common Morgan and Peace dollars sky high, ASE's have also been pushed up by the silver price increase.

Some of that may fall back some over the next year or so as the hype of the 2021 mint releases dies off, also will depend on what the silver prices do during that time.

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On 7/19/2021 at 8:07 PM, ldhall said:

Thanx, has anybody dealt with Great Collectors ?

I've sold through them, and I felt like my client got as good an outcome as was possible.

On it never hurting to make offers, I tend to think otherwise. I like to pick out some coins and ask how much they would be all together. Some people don't mind offers, but some are really over lowballers (lots out there) and get their backs up a bit. The way I'd say it is that you have to size up your vendor; with some, offers are no big deal, worst they can say is no; with others, offers can create extra resistance and negatively affect the relationship. Some might say well, then, they aren't good at business. I'd counter by saying no, just because they don't do their business in the way one person expects doesn't make them bad businesspeople.

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Wow, Looking at the site - it's great. Fees not bad, especially the grading fees for raw coins to sell. I'm sold. :) 

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On 7/20/2021 at 8:18 AM, ldhall said:

Wow, Looking at the site - it's great. Fees not bad, especially the grading fees for raw coins to sell. I'm sold. :) 

The handy thing about selling through them is they not only get (and share with you) their bulk discount on slabs, but they know which service is likely to get the best results with a given coin. Plus they handle all that. Your main issue is just getting it there safely and under their insurance (necessitates you following their procedure, which is fair enough).

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Yes, that is very nice for the inexperienced collector. I have dealt with both PCGS and NGC for grading but I prefer ANACS due to price, but I will use them if advised and won't have to pay membership renewal :) Does Great Collections due crossovers (grading) or sell sets ?

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