subject: Coin collecting - Why you need to buy Coins? [print this page] Coin collecting is not without its pitfallsCoin collecting is not without its pitfalls. If you want your coin collecting to be more fun than not, you need to know what the pitfalls are and how to avoid them. We fill you in on grading and fakes, as well as coins that have been repaired, restored, recolored, cleaned, or dipped and what that means. We also discuss scams, misrepresentations, overgrading coins, and undergrading coins, as well as return privileges and guarantees of authenticity and grade with coins.
Part of buying coins is finding coin price guides and knowing how to use them. If you've ever looked up a stock price in the newspaper, using coin price guides will be a breeze.
When you know which coins you want to buy and about how much you should expect to pay, you'll want to find a good, reliable coin dealer. There are plenty of dealers to choose from locally, regionally, and nationally depending on your needs.
Many coins are bought and sold at public auction and for more than a few good reasons. If you're going to buy a coin at an auction, though, you need to be prepared and know how to bid.
An important aspect to buying any coin is the coin's condition and how it affects coin value. You need to know about strike, eye appeal, luster, and condition (wear), as well as how coins are graded, how grade affects the coin's price, proofs, grading damaged coins, and what constitutes grading standards.
Finally, when it comes to buying coins, it helps to know how to grade a coin, the tools required to do it correctly, and how to find a professional grading service.
