My coin resources are pretty limited. I live in a small town of about eleven thousand people. There is one coin/locksmith store in town but it is rather small on inventory and the owner looks pretty susceptible to fakes plus his prices are way too high even when haggled. Next are coin shows, none come around here and my work schedule prevents me from traveling to a larger city. Granted there will be opportunities to visit coin stores and shows in larger cities on occasion but it won't be enough. So is online coin shopping a fine way to keep my collection going or are the best coins and prices only at the dealers and shows?
As long as you do the research on whatever coins you want then I would say yes, online is a very good and convenient place to shop. There is much more out there than E-bay! Keep that in mind also.
I used to get coins at a store that had advertised in Coins. Their coins were beautiful and fairly priced. I can't find them anymore, so the owners may have retired. Like anything else, I'd say to be careful, maybe place a small order to see how it goes. Maybe people here can recommend online stores that they've been happy with.
There are about ten places within a half hours drive that I can purchase coins at, I can see them in hand, I actually get to interact with the seller and get a feel for wether they are trustworthy or not, as for online, if it is something like bullion and you get a better deal including shipping, thats good and fine. But then if you are remotely located, it could be a good way to avoid temptations and save up for some really nice coins when you do get a show or travel to a place with lots of shops. I like the advice that one person gave to maybe try some online dealers with less expensive purchases before you go for the bigger ticket items. Online is harder, to me than in person, I have bought from fellow cointalk members, but even there I have heard of some who have had some problems with deals from fellow forum members.
There are a lot of reputable dealers who have well designed websites for shopping. Many of the coins have pictures and good descriptions. You just need to find a few that have material you desire and give them a try. Keep doing business with the good ones and dump the losers.
I buy about 1/2 my coins online & 1/2 face-to-face. There are many good dealers & auctions available online. If you visit a coin show or coin club, then you might find some local trading partners. Many of my world coins were gotten by trading with other collectors. BTW, I have bought some coins in Tuscaloosa and Huntsville in my travels. I remember buying some neat transportation tokens, a colorful silver Eagle, and a high grade, older Lincoln cent on my last trip through Alabama. If you would remind me what you collect, then perhaps I could recommend some dealers that sell online.
Do you remember the name of the place in Huntsville? I mainly collect Barber quarters,Liberty nickels and Mercury dimes but I also have a love for ancient coins and world coins(mostly Europe/Asia).
More importantly than buying from dealers with good photos/descriptions, is buying from a dealer with a decent return policy. If you are permitted to return the coin within 7-10 days of your receipt for any reason for a full refund, then buying online can become preferable to buying in shops or in shows as you'll have the chance to inspect the coin in hand before making your final purchase decision on the coin. Sure, in most cases you'll be out the return postage to the dealer if you decide against the coin, but that cost probably isn't much different than the gas you'd burn driving to various shops/shows to see the same coins. Once you find a dealer that knows what you like, you can get much better descriptions of coins via email or telephone. That way, the chances of getting a great coin and not having to return go way up. There are a few dealers that I will and have bought coins from based on an email, price and a description of "I know you'll like it." For those few dealers, no photo in advance is necessary as they know what I like and I know their standards of quality. And in the off chance I don't like it, it only costs me a couple of dollars to send it back.
There may not be any dealers nearby, but are there cities with coin clubs? Try asking around, or contacting your state numismatic society, and hopefully you can find a club nearby that meets on a regular basis. That's a great way to see coins in hand.
One thing you may want to keep in mind though, online you don't get to see who you're buying from and they may "looks pretty susceptible to fakes" as well. Buying online is safe if you're careful. You just don't want to bid too fast as that could get your butt in a sling. Read the description completely. And you don't want to bid too many times on the same item as that could cause you to pay more than you wanted to. You don't want to get caught up in a bidding war. Be smart about what you buy and you may even get a good deal once in awhile.
This Huntsville shop was recommended to me by a local friend of mine Sorry, I don’t remember the Huntsville shop name but you will find it listed in the Huntsville yellow pages. I took the I-565 to the Memorial Parkway south. I quickly went sort of north or east on Governor’s drive & it was just past a light on the left hand side. I bought a silver Eagle there which had some peripheral toning.
I aquire 95% of all my numismatic resources and coins online and it works great for me. I do use eBay, but I also have several dealers, and a few other auction type sites that I browse and purchase from on a regular basis. Like any online transaction, I always look at the coin, not the plastic or the flowery description, and also look for return policies, shipping costs and time, selection, feedback or reviews, and of course CT and other forums for info on the coin and the seller. I personally like online purchases as I can take my time, do my research, and buy at a price I am comfortable with, all without having to do this in a busy shop, or coin show floor under pressure - self imposed or otherwise.
Can some of the other members maybe list some of the online dealers you've used in the past and had good experiences with? I have used Executive Coin (www.executivecoin.com), Coast to Coast Coins (www.coastcoin.com) and Mt. Vernon Coins (www.mtvcoins.com). I am interested to hear where other people have had good experiences.
There are also other hobbies and other things to collect. Another draw back of shopping online is that you have to pay for shipping. With a limited coin budget to begin with, that could eat away at your funds if you aren't careful and leave you with less in hand than you could have if you had waited for a face to face purchase at a show or another town's shop. Maybe look around and see what other hobbies your town might support. There is always photography, digital cameras are inexpensive now and there is no cost for film or developing and you can get creative with photoshop. You could work on your geneology, get involved with you local history and research some of that...the world is your oyster you just need to find a pearl that sparks your interest and your wallet. Alot of stuff out there is free and just as important as building your coin collection online. Food for thought.
Recently I've bought more online than in person, but I really can't tell you a good reason. I hit the auction sites fairly frequently, and go to about half a dozen coin shows a year. I've been in a couple shops recently, who tell me that they are going to give me a great deal, then quote something about 10% higher than I find at the shows. Keys to buying online. 1. Good picture. 2. Fair return policy. 3. Good seller rating. 4. Good communication if you write with questions before the sale...and I always do just to see how well they communicate with me. It also provides me a back-up if there is a problem so that I've already documented that I'm trying to communicate openly and honestly and have a specific response to my concerns (if any) before the sale. 5. If you are on an auction site, bid your maximum shortly before the end of the sale, then don't go back. Can't get caught up in the excitement of late bidding if that occurs and spend way too much. Been there...done that...got the okay coin at too high a price. Art Haule
I have learned to search anf research buying coins online i always check his selling policy ins shipping rates. I was buying from one dealer online since the first of the year with no problem. Until now i have been waiting since october on a order of ten coins. Morgans franklins jefferson proofs i e-mailed him and asked him about my order. He said his shipping polict was changed, that now shipping time varies! I did not read that on my last order. So even though you have a trusting seller, always check the fine print before every order in this case i did not.
I see your in Northern Illinois. Are you referring to the coin shows at Lemont, Countryside, Itasca or Rolling Meadows? I try to go to all of them but usually only make the Countryside and Itasco ones. If you do, that one dealer with about 3 or more tables is Robert Griffiths. Really great guy and tell him you know me and demand a bigger discount.
Back to the original question. For me the on line coins are the last, really last, choice. Way to many chances of lost in mail, wrong coins sent, you have to pay postage and sometimes insurances which adds to the cost of the coins. My suggestion is to first try Google and Yahoo for coin shows in your state and possibly near by states if close enough. Also, coin clubs in your area. If no coin shows or coin clubs, then also try for coin stores or hobby stores. If a hobby store, call first and ask if they also carry coins. You may too want to check out pawn shops. I've said this one many times but most don't try. Regardless of where you live, try every garage/yard/estate sale. Don't just look and walk away. ASK if any old coins. People normally don't put coins, guns, knives, etc out on tables for such sales. If they have old coins, they are in jars, cans, boxes, etc. on a shelf somewhere. If you ASK, they may go get them for you. But you have to ASK. Once some time ago at a garage sale I did just that. The lady went into the house and came out with a jar of pennies (cents). On the bottom were all Indian Cents. Appeared about $35 worth face value and when they asked if I wanted to count them I just offered $50 and they took it. The newest coin was in the 50's. Fantastic haul. But you have to ASK.
