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<p>[QUOTE=&quot;Detecto92, post: 1450667, member: 75105&quot;]If possible I wish for moderators to make this a sticky.</p><p><br /></p><p>The 1st thing for any new or young collectors is to purchase a coin price guide. One of the best one&#039;s out there is a called the &quot;Red Book&quot;.</p><p><br /></p><p>The red book is very helpful as it has:</p><p><br /></p><p>Full Color Photos of Most US Coins.</p><p>Mintage numbers for most coins.</p><p>A small guide to help you grade a coin.</p><p>A price guide.</p><p><br /></p><p>However please be aware that the price guide is not set in stone. Not everyone prices coins at this price, some may be lower, some may be higher. </p><p><br /></p><p>The price guide is a just a tool to help you understand an<b> estimate</b> of the price. If the price guide shows a coin for $200, and someone wants $900, then the price guide prevented you from getting burned and over paying. There are unscrupulous people who will take advantage of a new collector. <b>Buy the book BEFORE the coin.</b></p><p><br /></p><p>If the price guide says $200, and someone wants $250, then it&#039;s up to you to decide if you want to buy it or not. Check other resources ( I will talk about this later) to see if you can get the coin cheaper, and if it looks as nice or nicer as the one you want. </p><p><br /></p><p>Cleaning a coin will ruin it&#039;s value. But please remember that there is a difference between cleaning, and conserving a coin.</p><p><br /></p><p>A cleaned coin will be worth much less, and you should not expect to pay as much for one. </p><p><br /></p><p>However remember that someone<b> can and will</b> sell you a cleaned coin for full price, educate yourself the difference. </p><p><br /></p><p>Here is a very good link:</p><p><a href="http://coins.about.com/od/caringforcoins/f/shiny_coins.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.about.com/od/caringforcoins/f/shiny_coins.htm" rel="nofollow">http://coins.about.com/od/caringforcoins/f/shiny_coins.htm</a></p><p><a href="http://coins.about.com/od/caringforcoins/f/shiny_coins.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.about.com/od/caringforcoins/f/shiny_coins.htm" rel="nofollow"><br /></a></p><p>Also remember that if a coin has had a hole drilled in it, if it&#039;s bent, deeply scratched, etc, it will be worth much less. </p><p><br /></p><p>The BEST place to purchase coins are online auction sites such as:</p><p>Teletrade. (<a href="http://www.teletrade.com" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.teletrade.com" rel="nofollow">www.teletrade.com</a>).</p><p>Heritage Auctions (<a href="http://www.ha.com" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.ha.com" rel="nofollow">www.ha.com</a>).</p><p><br /></p><p>Teletrade sells slabbed coins. </p><p><br /></p><p>A coin that has been slabbed is a coin that is encapsulated in a plastic holder, graded, and serial numbered by a company.</p><p><br /></p><p>Just like reputable places to buy coins, there are also reputable companies that slab coins. Only buy coins from these 3 companies.</p><p><br /></p><p>PCGS</p><p>ANACS</p><p>NGC.</p><p><br /></p><p>Now you may be thinking, why should I buy a slabbed coin?</p><p><br /></p><p>Buying a slabbed coin:</p><p>Eliminates the need for you to grade a coin, it&#039;s already done with good accuracy. (Note that the grade is not always right, sometimes it slightly off).</p><p>Eliminates the need for you to tell if a coin has been cleaned or not. It will usually say &quot;Cleaned&quot; or &quot;Genuine&quot;.</p><p><br /></p><p>Buying a slab coin is a good option if you want a coin, but have not or don&#039;t have time to educate yourself. </p><p><br /></p><p>Some people don&#039;t like slabbed coins, it&#039;s a matter of taste. A slab coin will cost more too. </p><p><br /></p><p>Once you are confident of your coin skills, you can safely buy raw coins.</p><p><br /></p><p>Another good website to bid and buy coins in eBay, and I&#039;m sure you already knew of eBay.</p><p><br /></p><p>Don&#039;t buy from sellers with low feedback, or low feedback percentages. Check their feedback for good reviews. There are many sellers on eBay that have 1000s of good feedback, and your better off buying a coin from them, because they will<i> usually</i> tell you the grade, and if it&#039;s been cleaned or not. </p><p><br /></p><p>Coin dealers are another good place to buy coins. However if possible, google the dealer and check their reviews. </p><p><br /></p><p>Some dealers will not be honest with you, but for the most part they will be, honesty is what keeps them in business. </p><p><br /></p><p>If you have a flea market in your area, that is a good place too.</p><p><br /></p><p>BUT...arm yourself with a high amount of education before going to one. Tons of fake coins exist and someone could easily sell you one, even if they did not know better. Flea markets can be a very good place to buy coins, provided you know what your doing. I&#039;ve gotten some good buys from ones. </p><p><br /></p><p>The most important thing that I can tell you, is to educate yourself quite a bit. If you know someone who collects coins, they can help to. If a dealer is really nice, sometimes they can give you advice too.[/QUOTE]</p><p><br /></p>

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