Every major city has at least one good coin shop in it. This is because the coin collecting hobby has taken off huge. Even for those who are not in it for the fun and the history of the hobby, there is a lot of money in collecting rare and soon to be rare coins. The problem is that not all shops are upstanding in the way that they deal with the coins themselves and with the people that buy and sell the coins. This is why it is important to be able to find a respectable shop that you can buy and sell coins to.
Many will advise you to buy your coins at a pawn shop. While this might be advisable if you know exactly what you are looking for and you know what to look for in good coins. The problem is that many of the pawn shops do not know exactly what they are buying. They will go by whatever grade is listed on the slab for the coin and then resell it for the full dollar amount that it is worth. You are better off buying from a coin shop because at least they will have a better shot at knowing what it is that they are selling.
Look for Good Grades
When you are looking to find a good coin shop to do business with, you will want to make sure that the grades which are available at the shops will be from third party grading services which are respected in the industry. If you do not see a grading service listed on the coin slabs, it means that they are being sold as regular coins rather than as anything which is actually graded. This means that it is on you to examine the coin and haggle price. Unless you are good at coin grading, good luck.
Look Online
You will find a lot of people like to make comments about the local coin shop online. This is a great way for you to figure out exactly which stores meet your needs and which ones will come up short. Try to avoid any stores which consistently have complaints about bad grading on coins. It is normal for a company to have some negative comments as you just cannot please everyone all the time, but if the comments are overwhelmingly negative, avoid them.
Choose the Shop with Your Coins
Some shops will specialize in certain kinds of coins. Choose one which will have all of the coins that you like to collect. This will help you to be able to get the coins that you most want to choose. If you are into buying rare coins, do not choose a coin shop which specializes in commemorative coins. They will not know enough about the coins you want to buy and they will most likely not carry what you are looking for. If you have any doubts, strike up a conversation with the clerk and see what they know.
Photo Credits: woody1778a
Originally posted 2010-09-01 08:31:03. Republished by Blog Post Promoter
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