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<p>[QUOTE=&quot;Morgandude11, post: 2022688, member: 37839&quot;]Just wanted to write a few notes on some suggestions for purchasing coins, and not being oversold, or vulnerable to scams, frauds, and misinformation.&nbsp; This is in NO WAY a condemnation of dealers (I have lots of dealer friends), veteran collectors who have &quot;their way&quot; of doing things, or investment &quot;rollover&quot; collectors.&nbsp; I just want to say a few words for the new collector, or middle-level neophyte who still has not acquired a lot of experience in purchasing coins and assuring that he/she is not over his/her head:</p><p><br /></p><p>1.&nbsp; Buy from reputable dealers only.&nbsp; There are many of them on this forum, and lists abound here.&nbsp; Reputable dealers are honest, decent, nice people who deserve our patronage, to keep their businesses profitable.&nbsp; If someone is offering you a deal that seems shaky, or too good to be true--it is!!</p><p><br /></p><p>2.Develop a rapport with dealers and collectors--if you are friendly with them, they will be friendly in reciprocation.&nbsp;&nbsp; Your purchasers will be worry-free.</p><p><br /></p><p>3.&nbsp; To quote an expert on this firm who has written extensively, &quot;BOOKS BEFORE COINS.&quot;&nbsp; He is right--learn your coins first by reading about them, before you touch metal.&nbsp; Lists of books abound here, and on other message boards and sites.&nbsp; Learn the series that you wish to collect before you buy.</p><p><br /></p><p>4.&nbsp; Be cautious of Ebay.&nbsp; If you don&#039;t know the seller, or the seller has some negative feedback, that should be a warning.&nbsp; Notice that I did not say &quot;avoid Ebay,&quot; as a lot of beautiful coins can be found there for the right price.&nbsp; Just do not impulse buy there.&nbsp; Many of the posters here have Ebay stores, and will be happy to deal with you.&nbsp; Once again, if a coin just &quot;Does not feel right to you,&quot; listen to that feeling and pass on it.&nbsp; Once warned/not burned.&nbsp; There are lots of scams on Ebay.</p><p><br /></p><p>5. Be cautious buying raw.&nbsp; Many coins can appear nice.&nbsp; However, if you are not familiar with the series--don&#039;t buy a coin until you check with people who know better, or look at your books, and compare appearances.&nbsp; There are lots of really bad, doctored, cleaned, damaged coins that bring in much profit for the dubious dealers, especially on Ebay.&nbsp; Learn to grade, and recognize a damaged coin before you dabble in the raw market (unless it is the bargain bin, where you don&#039;t have much to lose).</p><p><br /></p><p>6. Unless you are expert, NEVER buy a key date that isn&#039;t certified, and make sure the slab isn&#039;t a fake one.&nbsp; This is especially important so as not to lose money on expensive coins, only to find out that they are not what they seem.</p><p><br /></p><p>7. Learn to grade.&nbsp; Learn the rubrics of the hobby--the Sheldon Scale, PCGS photo grade standards, and the overall ANA standards for appropriate grading.&nbsp; As you might notice, even the more expert collectors disagree, but there is at least a standard that needs to be mastered.&nbsp; Doug has oft times said this, and I agree---learn to grade.&nbsp; TPGs help tremendously (whether you like them or not), but they do make mistakes.&nbsp; Don&#039;t blindly buy a coin that is slabbed if you have doubts as to the grade.</p><p><br /></p><p>8. Go by your gut--if it doesn&#039;t feel like a wise, intelligent purchase, it probably isn&#039;t.&nbsp; Your subconscious is telling you something--don&#039;t pull the trigger and open the Paypal account if you don&#039;t feel comfortable about the purchase.</p><p><br /></p><p>9.&nbsp; Don&#039;t insult an honest and hardworking seller of coins by lowballing.&nbsp; It is highly doubtful that you will get the coin for that price, and if you don&#039;t, all you do is insult the person selling the coin.&nbsp; Imagine how you would feel if someone lowballed your merchandise.&nbsp; Make mutually fair offers.</p><p><br /></p><p>10.&nbsp; Go to shows.&nbsp; Expose yourself to the people, the goods, and the experience--it is exciting and educational.&nbsp; Talk to people and ask questions--most coin hobbyists are only too happy to share knowledge.</p><p><br /></p><p>11. You are not going to buy a 1909S.VDB for $20.&nbsp; Be suspicious of obvious bargains such as that, and don&#039;t think you can beat the seller.&nbsp; You are most certainly falling for a scheme, such as a doctored coin, fake coin, or blatant fraud.&nbsp; Be intelligent about that.</p><p><br /></p><p>12. Narrow your purchases.&nbsp; One cannot collect every series--too many forks in the road.&nbsp; If you like Silver, consider dollars, halves, quarters, etc.&nbsp; If you want Copper, stick to it--very popular nowadays.&nbsp; If you like moderns, don&#039;t believe all the negative talk about the US Mint, and how terrible coin mintage is from them.&nbsp; You can begin a beautiful collection of moderns, just as easily as older coins.</p><p><br /></p><p>13. Read, read, read, and then read again.</p><p><br /></p><p>14.Set a budget, and set limits on your spending, unless your funds are unlimited.&nbsp; This is an expensive hobby.&nbsp; If you can afford (for instance) $100 a month, don&#039;t go over that by more than 5-10% maximum, no matter what.&nbsp; Don&#039;t jeopardize your finances for a collection.</p><p><br /></p><p>15. Last, ENJOY YOURSELF.&nbsp; If you are getting angst from coin purchases, that should tell you something.&nbsp; It is a hobby, and you should get pleasure from it.&nbsp; Don&#039;t get into anxious situations, just to own a coin.</p><p><br /></p><p>Good luck and good hunting.&nbsp; I am sure others have many suggestions.[/QUOTE]</p><p><br /></p>

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