For those that purchase coins...

alanlee87

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I've bought off eBay before. Decide what you want to pay, bid, and leave it at that. If you bid on enough coins, you will get some good deals. Good luck,
Legend
 

I've purchased coins from just about every source imaginable: eBay, craigslist, yard sales, coin shows, coin shops, and acquaintances. Good and bad deals can be had at all. My advice is to know what you want and what you want to pay for it ahead of time. Knowledge is the key. Be sure to have a grading book and a current price guide. Good luck!
 

sitman said:
I've purchased coins from just about every source imaginable: eBay, craigslist, yard sales, coin shows, coin shops, and acquaintances. Good and bad deals can be had at all. My advice is to know what you want and what you want to pay for it ahead of time. Knowledge is the key. Be sure to have a grading book and a current price guide. Good luck!

Beware of EBay, At least 50% of the non-graded coins have been cleaned in some shape or fashion to give them more Eye Appeal.

You want coins at "Good" coins at a fair price and not cleaned, try www.providentmetals.com out of Copella, Texas. Neil is fantastic and if the product is purchased on Monday, it is usually in your mailbox by Thursday. :icon_thumright: :icon_thumleft:
 

I underbid on ebay frequently.Occassionally I score there.Pawn shops sometimes are cheaper than coin dealers.Tellers can be a good source.High traffic gas stations and liquor stores get old coins.Make pals with a clerk. Happy Hunting
 

FreedomUIC said:
sitman said:
I've purchased coins from just about every source imaginable: eBay, craigslist, yard sales, coin shows, coin shops, and acquaintances. Good and bad deals can be had at all. My advice is to know what you want and what you want to pay for it ahead of time. Knowledge is the key. Be sure to have a grading book and a current price guide. Good luck!

Beware of EBay, At least 50% of the non-graded coins have been cleaned in some shape or fashion to give them more Eye Appeal.

You want coins at "Good" coins at a fair price and not cleaned, try www.providentmetals.com out of Copella, Texas. Neil is fantastic and if the product is purchased on Monday, it is usually in your mailbox by Thursday. :icon_thumright: :icon_thumleft:
I watch cleaned, graded coins sell for good money, regardless. I've bought cleaned coins in the past, because the eye-appeal is important to me.
 

Don't ignore local auctions. AuctionZip is your friend. I've been to auctions where the majority of the listings were guns, and consequently the attendees were knowledgeable about guns. In the one, there were a few coins including Krugerrands. When gold was at $850/ounce, I bought the Krugerrands for less than $500. Nothing quite like making an instant $300 per coin just for showing up.
 

fistfulladirt said:
FreedomUIC said:
sitman said:
I've purchased coins from just about every source imaginable: eBay, craigslist, yard sales, coin shows, coin shops, and acquaintances. Good and bad deals can be had at all. My advice is to know what you want and what you want to pay for it ahead of time. Knowledge is the key. Be sure to have a grading book and a current price guide. Good luck!

Beware of EBay, At least 50% of the non-graded coins have been cleaned in some shape or fashion to give them more Eye Appeal.

You want coins at "Good" coins at a fair price and not cleaned, try www.providentmetals.com out of Copella, Texas. Neil is fantastic and if the product is purchased on Monday, it is usually in your mailbox by Thursday. :icon_thumright: :icon_thumleft:
I watch cleaned, graded coins sell for good money, regardless. I've bought cleaned coins in the past, because the eye-appeal is important to me.

I to have been a victim of buying cleaned coins. However, when you go to sell the coins you get whacked considerably because of it being cleaned. Some grading services won't touch a cleaned coin and return it to the owner. Others won't grade it, just say that it has been cleaned.
 

You can also put up a bulitin board sign that simply says that you buy coins . put it at the store or library and the like . Then just meet them in a public place for transaction .
 

When you guys buy from Ebay do you guys buy certified coins or raw?



Thanks for the tips!
 

alanlee87 said:
When you guys buy from Ebay do you guys buy certified coins or raw?



Thanks for the tips!

Depends on what you're looking for.. I don't buy from Ebay too often but I have bought some certified First Strike eagles years ago. Personally I like PCGS graded coins if you're into higher quality. As for regular circulated coins, I just do CRH and get them that way or use proceeds from them to purchase what I want. I will say that Ebay becomes Feebay if you're selling on there. It's good for buyers but horrible for sellers.
 

For me EBAY is on the higher side of buying american coins or silver bullion tho with patience you can find deals. Some of the coin shows in my area are by far the best way to buy or sell american coins or silver bullion. One trick for buying at pawn shops/dealers is to find one that sells prepriced coins and not by weight so that if your buying on the upswing they may not have raised their prices. I just bought junk coins at a pawn shop last week at 19x when silver was going for 21x. I did something similar at different coin stores last year while silver was going up they had peace/morgans at prices when silver was cheaper.

My advice is to check all pawn/jewelry/coin stores while on a CRH run and go find a decent show.
 

The best source for really good deals is buying from individuals. Keep your eyes and ears open. Check the newspaper and Craigslist often. Let it be known around town that you purchase coins. A good deal won't hang around for long, so be prepared to act quickly. Don't forget about yard sales. If you see a listing for a yard sale that mentions having coins for sale, try to be the first one there when they open for business on that first morning (even better, be 15-30 minutes early). As I said, a good deal won't hang around long. When dealing with individuals, it has been my experience that it is better to let them set the initial price. Why offer 15x-20x face value when 10x (or less) might be sufficient? Don't "bid against yourself."

eBay is tough. While it is true that with enough patience you will occasionally get a decent deal, its pretty rare...at least in my experience. Look for coins that are improperly identified, listed in the wrong category, or just described badly. While browsing on eBay awhile back I came upon a listing for "5 1909 wheat pennies." After glancing at the photos, I realized they were all VDB's in VG+, but that wasn't indicated anywhere in the title or description. I ended up winning the auction for less than $6 including shipping. Not a monster score by any stretch of the imagination, but one I'll gladly take anytime.

Auctions/estate sales can be a good source as well, especially ones that do not specialize in collectibles. Occasionally you can score at a pawn shop if the owner isn't that knowledgeable of coin values and/or does not keep up with the current price of silver. Sometimes you'll find a bin that has several of a certain type of coin for a set price each. For example, a bin of wheat pennies for 25 cents each or something like that. While that is overpriced for common date wheaties, it is worth the time to go through them looking for key/semi-key dates. I have made a few decent scores this way.

Hope this helps. Good luck!
 

Only buy from someone you know and trust...

Remember anything bought on EBay has an added shipping cost, and possibly sales tax...

only buy when you can feel, smell, touch or taste...posted pictures can be enhanced or seller can misrepresent the facts...bad choice...

And if the price is too good to be true...run like hell!
 

ArkieBassMan said:
The best source for really good deals is buying from individuals. Keep your eyes and ears open. Check the newspaper and Craigslist often. Let it be known around town that you purchase coins. A good deal won't hang around for long, so be prepared to act quickly. Don't forget about yard sales. If you see a listing for a yard sale that mentions having coins for sale, try to be the first one there when they open for business on that first morning (even better, be 15-30 minutes early). As I said, a good deal won't hang around long. When dealing with individuals, it has been my experience that it is better to let them set the initial price. Why offer 15x-20x face value when 10x (or less) might be sufficient? Don't "bid against yourself."

eBay is tough. While it is true that with enough patience you will occasionally get a decent deal, its pretty rare...at least in my experience. Look for coins that are improperly identified, listed in the wrong category, or just described badly. While browsing on eBay awhile back I came upon a listing for "5 1909 wheat pennies." After glancing at the photos, I realized they were all VDB's in VG+, but that wasn't indicated anywhere in the title or description. I ended up winning the auction for less than $6 including shipping. Not a monster score by any stretch of the imagination, but one I'll gladly take anytime.

Auctions/estate sales can be a good source as well, especially ones that do not specialize in collectibles. Occasionally you can score at a pawn shop if the owner isn't that knowledgeable of coin values and/or does not keep up with the current price of silver. Sometimes you'll find a bin that has several of a certain type of coin for a set price each. For example, a bin of wheat pennies for 25 cents each or something like that. While that is overpriced for common date wheaties, it is worth the time to go through them looking for key/semi-key dates. I have made a few decent scores this way.

Hope this helps. Good luck!

We must be twins as these are all my fav ways to score as well. Don't forget Antique stores. There are almost always a few coins tucked away in dealer's cases. They almost always take a lower price too so good deals can be had here. Also, "Cash for Gold" places can be just as good as Pawn Shops for buying junk coins (which can be diamonds in the rough) at or even below melt.
 

The absolute best place to get coins is to buy from individuals because it is nearly always a win-win situation, you get the coin for less than you would at a store and the seller gets more money than they would selling them at a pawn shop or a "cash for gold" place. However, often times individuals are harder to buy coins with retired designs like Mercs, Walkers and Standing Liberties because they think that their 1943 Merc is worth a lot more than melt simply because it is different. Many jewelery stores will have a collection of silver that they buy/sell for close to melt regardless of the design. These places are great to get some worn Barbers for no more than just the silver content, and while they have little to no numismatic value, I'd much rather stare at a different, older design than Washington and Roosevelt. Estate sales, auctions and thrift stores are also good ways to get older coins.
 

I have bought quite a bit on eBay, but I must say I rarely get any discount - I usually combine their price + shipping cost, and if that total comes to today's current coin value (melt value on Coinflation.com) then that's my maximum bid. I don't pay for numismatic value, so I guess you could argue if I get a coin for melt, I AM getting a deal, but I don't know/care about that aspect of it and won't even look into it unless I'm looking to sell, which I won't even consider anytime soon.

For a cautionary tale on the risks of eBay, go look up my post about "Cheap eBay Scammer" in the "Everything Else" section of this website :)
 

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