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Watch the sellers. Feedback is important both the number of transactions and the quality. Never go with a seller who has too many negs. Most times I won't deal with a coin seller who has any negatives at all.

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toolhaus.org is a good site to plug in the feed back it will filter out pages so you can see any negs.

 

That is a good tool Mark.

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I do buy there all the time, mainly because the items I am looking for are hard to find at shows or coin stores but that doesnot mean I still don't look there.

I have had really good luck on eBay. I find the biggist problem is that sellers don't take the time to preview the items they are selling. Just to make sure it is listed correctly.

wrong pictures, wrong TPG service, Morgans listed in Lincolns cents section. I guess there are many different ways to list with errors in your listing. But I do still search there. I do alot of search by date since this seems to be the hardest to list wrong.

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I also buy coins several times a month on ebay. To follow up some of the points already made by others, one thing I refuse to do is buy from India, China, Indonesia, eastern Europe, etc. because there are just so many fakes coming out of those areas that its best to just snip it in the bud and do your business elsewhere. Also, always do your research before you bid (know what you're bidding on... buying things over the internet offers that advantage because you're not really going out of your way to do this research) and never bid on mulptiple items unless you are fully prepared tot take on the potential debtload.

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  • 2 weeks later...

I buy a lot on eBay. While I'm new to coin collecting, I imagine I'll be purchasing a lot there. Since I am new to coin collecting, my budget is very small. I'm interested in buying cheaper coins, and more of them. Of course there could be some counterfeits and such, but in my case, if the price is a couple dollars, even a counterfeit is welcome in my collection at this point. I figure I can start working on some of the easy and affordable basic coins that many collectors have. Generally if something is low cost, it really isn't worth counterfeiting in the first place. The next thing I like about eBay, is that I work out of town. I'm on 600-800 flights a year, 160 hotel rooms a year, and TONS of time sitting around in airports or other places where I'm bored out of my mind. eBay is just so EASY, and accessible anywhere I happen to be. There is access to items I certainly can't find elsewhere, and since I've never been to a coin show, so far eBay is the most impressive place I've seen!

 

I just purchased a 1897 V Liberty Barber Nickle for $2.00 including shipping! No clue what it is. Don't care. It's old, it's cool, it's cheap, and now it's part of my new collection!

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My advice is to buy the book before the coin. Subscribe to one of the better coin publications such as Coin World. Learn about the different series or, if you're interested in world coins, subscribe to World Coin News. Find a series that you're interested in and spend some time learning about the history of the designs and engravers.

 

Take the time to go to a good coin show where you will be exposed to coins of all types and qualities. For example, silver coins acquire the most beautiful ranges of toning so that even two coins of the same series and year may look completely different if they are uncirculated and toned. Establish a relationship with a quality dealer, preferably one that is a PNG member. They subscribe to a code of ethics that is enforced by the Professional Numismatists Guild (PNG). You can learn a lot from a good dealer. Ebay, by contrast, is a terrible place for a beginner, akin to shark infested waters. However, there are reputable dealers on Ebay such as dealers who are PNG members, but it's hard to establish a personal relationship with an Ebay dealer.

 

Also, IMO, it makes more sense to buy fewer, better preserved coins than a greater quantity of more well-worn coins. What you end up with, when you save up for better coins are coins that you will always enjoy looking at, and which you will be proud to show to friends. With an uncirculated coin, for example, you can really appreciate the design and engraving on the coin whereas with a coin in poor shape, much of the design is worn away. Also, in the future, if you might want to sell some coins so you can buy others, uncirculated coins hold their value better and may also gain in value, whereas poorly preserved coins do not appeal to as great a number of people, so their values may not change much over the years.

 

This is one collector's suggestion for a beginning collector. I've been collecting for almost 60 years. To get some idea of the different types of coins that I collect, you can click on my omniCoin link at the left.

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My advice is to buy the book before the coin. Subscribe to one of the better coin publications such as Coin World. Learn about the different series or, if you're interested in world coins, subscribe to World Coin News. Find a series that you're interested in and spend some time learning about the history of the designs and engravers.

 

Take the time to go to a good coin show where you will be exposed to coins of all types and qualities. For example, silver coins acquire the most beautiful ranges of toning so that even two coins of the same series and year may look completely different if they are uncirculated and toned. Establish a relationship with a quality dealer, preferably one that is a PNG member. They subscribe to a code of ethics that is enforced by the Professional Numismatists Guild (PNG). You can learn a lot from a good dealer. Ebay, by contrast, is a terrible place for a beginner, akin to shark infested waters. However, there are reputable dealers on Ebay such as dealers who are PNG members, but it's hard to establish a personal relationship with an Ebay dealer.

 

Also, IMO, it makes more sense to buy fewer, better preserved coins than a greater quantity of more well-worn coins. What you end up with, when you save up for better coins are coins that you will always enjoy looking at, and which you will be proud to show to friends. With an uncirculated coin, for example, you can really appreciate the design and engraving on the coin whereas with a coin in poor shape, much of the design is worn away. Also, in the future, if you might want to sell some coins so you can buy others, uncirculated coins hold their value better and may also gain in value, whereas poorly preserved coins do not appeal to as great a number of people, so their values may not change much over the years.

 

This is one collector's suggestion for a beginning collector. I've been collecting for almost 60 years. To get some idea of the different types of coins that I collect, you can click on my omniCoin link at the left.

 

Thank you! That is great advice for me...

 

Josh

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I was just thinking about a few other aspects however that still turns me (for now) towards lower value/condition coins. Kids for one. My kids are young. They want to touch the coins, carry them around, play with them, loose them, etc. Of course a handful of worthless little coins are of no concern. I'd save my money up for a gorgeous coin of worth and beauty,,, but then how do I include the kid's ambition? The other factor is that I am on a limited budget. I used to collect silver coins. I had numerous silver eagles and other bullion and such. It was great, but there was no character in owning ten silver eagles with merely different dates on them. Silver went up and I sold them. I began collecting copper bullion for that reason. Cheap. If I have X amount of money to spend,,, while I'd love to blow my entire monthly budget on one amazing piece, and collect 12 items each year or less, that would be fine. If I divide it up however among cheaper and lower quality coins,,, I can collect on a daily basis! I can browse eBay or other places and keep an endless supply of fun stuff coming in the mail! Of course the collection is worth little, not impressive, and not resaleable,,, but it's fun...... Face it,,, if we wanted beauty and top quality,,, we'd all save up for our whole life and buy high end platinum, or million dollar pennies... The thing about collecting though,,, is that you collect. What and how you collect is irrelevant to anyone other then the owner of the collection. Even a coin such as the Argentinian piece I'm in search of from my childhood means more to me than a million dollar penny. So,,, I'm sure I'll move up and on to bigger and better coins. It's early though. Very early in my collecting career. At this point,,, if my little girls can run every couple days to check the mailbox and are amazed at the treasures they find and drag around the house,,,, I'm collecting memories,,, not just coins...

 

Josh

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Does anyone but coins on eBay and what would you recommend doing or looking for when you buy them ??

Sometimes, but I tend to stay away from people with spelling mistakes in the title (Pennie, nickle, etc.) and also when they aren't totally clear about what you will be receiving (random foreign coin from huge lot, 1/4 pound coins, etc. ) because people can get pretty clever with selling you stuff you don't want. A random foreign coin from a huge lot could be a Canadian penny or a Euro, which some people might want but they are very common. For a 1/4 pound of coins they could just send you a few big coins.

I agree with everyone else, always check the feedback they've gotten and how much they've sold. Also if you are getting something like a silver quarter for 0.50 (which I have seen before under Buy it Now) then either the seller doesn't know what they have or you will get ripped off. Hope this helps and good luck! :yes:

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There are some series where you can obtain uncirculated coins for relatively low cost, and you should have no qualms about handling them. One is the winged liberty dime such as you show in your post. There are some very valuable dates, but there are lots of dates that are available in unc condition for low cost unless, of course, you want to play the slab game and insist on an MS68 where you will pay a large premium over an ungraded unc from a high mintage year. That's why I mentioned subscribing to a magazine like coin world where you can see price lists for common date coins available as unc for low cost.

 

Another coin series where you can obtain high quality coins for low money is the buffalo nickel series, my favorite!! Growing up, I was able to find XF or better buffalos in change. Today, a true XF or AU coin can be a very pleasing coin with most or virtually all of the design still visible. You can find the 1938-D buffalo in average unc for less than $20. This can be a beautiful coin with lots of history to show a child. It's the first coin with a true representation of a native american on it, while the Bison is a true american also, only existing on the North American continent.

 

Lincoln wheat pennies are easily available, in certain years, in top condition. Even Morgan silver dollars can be bought for near bullion cost in AU to unc unless they're nearly flawless unc examples or rare years, in which case their prices go up.

 

Try to buy low cost coins that have little difference in price between an AU and a basic UNC price. That way you should have no problem letting your kids handle them. If they get scuffed up, who cares?

 

What I'm trying to say is that you need to educate yourself before, not after, you start buying coins. With Ebay, as long as you stick to reliable buyers, 100% positive feedback (be aware that in some cases sellers can have negative feedback deleted!) or close, and you are not spending more than $100, your risk is low. If you gravitate to dealers that offer a return period, than you decrease your risk further. But take advantage of coin shows. They, along with study, are the best way to see lots of coins, and get the best price. Ebay introduces lots of fees to sellers, so you will probably get better prices at a show, particularly if you get to know a dealer by chatting with him/her and being interested in the dealer's offerings. If you mention that you have children and want to introduce them to coins, most dealers will be only too happy to suggest appropriate items they might have.

 

Also My opinion: don't buy coins by weight on Ebay. If you want foreign coins for your child, go to educational coin company (www.educationalcoin.com). They are the largest dealer for coins by weight, and they put together low cost, uncirculated coins that can be a lot of fun for kids. A lot of Ebay sellers just re-sell coins bought from Educational Coin. I use this source for my class room presentations to my wife's third grade class. I give the kids each a foreign coin and ask them to learn something about the country and the design of the coin (with their parents' help of course). The prices at Educational Coin are quite reasonable. They also deal in banknotes. This can be really interesting for kids as some of the notes are very colorful and feature pictures of animals, birds and plants native to the country.

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