There are quite a few places you can choose to purchase a rare coin from. One of the places where many people will frequent to buy the coins that they want is a rare coin store. This is a great location to be able to find the coins that you want to purchase. It also creates a great way for numismatists to spend a day. They can go from one shop to the next to see what is new and to see if there are any coins that they want to buy or add to their wish list.
If you encounter a new rare coin store or you simply are new to coin collecting, there are a few things you should look for. By finding these things you will have a much better chance that you will be in a good store where you can trust the merchandise. Not finding these things does not mean that the store is worthless. It simply means that you will have to be on your toes. Look for ANA affiliation, a shop which has been around for years and a shop which is honest in the way it buys and sells coins.
ANA Affiliation
The American Numismatic Association (ANA) is one of the biggest names in coin collecting. They are responsible for creating many of the standards which coin collectors follow when they are buying and selling coins. Many stores choose to be affiliated with the ANA so that they can show that they adhere to the same standards the rest of the collectors adhere to. Finding this is in a rare coin store is a good indicator that you will find coins which are graded and priced fairly, though it is not a guarantee that you will find this.
Established Store
Another good thing to find in a rare coin store is that the store has been around for a while. If the store is brand new, it does not mean they are untrustworthy. They will just have to prove their honesty in other ways. The longer the store has been in existence, the better your chances are that you will be able to find good deals. This is because if they have not been acting honestly, they would likely have lost all business buying and selling a long time ago.
Honest Vendor
One good test of an honest vendor at a rare coin store is to watch how they interact with customers. The most telling is when people come in looking to sell some raw coins. A dishonest vendor will simply offer to pay for slightly higher than the face value of the coins. The right way to behave would be to take the time to sort through the coins and honestly determine their prices. If the coins turn out to be worth nothing but the face value there is nothing that can be done about that. Another test is to see whether they have coins which are graded by basement slabbers. This is a bad sign.
Photo Credits: Tilemahos Efthimiadis
Originally posted 2010-09-09 03:38:58. Republished by Blog Post Promoter
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