Ethical Coin Dealers

Bellago · February 21, 2013 6:42AM

For those of you who are experts in the field, where do YOU go to buy high grade raw coins? I live quite a distance from coin shows, and most of the coins I see on Ebay, or from sellers like Great Southern, look altered or cleaned. There used to be a local auction in the San Fernando Valley, California that sold really honest examples, in an online auction, (Aaron), but no more. I have an interest in Lincoln and Indian Heads, so any tips or referrals would be greatly appreciated.

TAMU15 · February 21, 2013 6:46AM

Knowing where to look/not look on ebay can be very fruitful. Other than that it's hard to buy nice raw coins without seeing them in hand.. If you can ever make it to coin shows, that is the best place to start and build a relationship with a dealer who's coins and grading you like and agree with.

B

lordmarcovan · February 21, 2013 6:48AM

Right here on the forums I have had hundreds of transactions and less than a half or a tenth of a percent sour notes, I guess, and never have been truly burned. Check out the Buy/Sell/Trade forums here.

There is no way I could list everyone.

I do not often buy high grade raw coins as I'm only working on a VF-XF 19th century type set at the moment, but USMoneylover is on my "good guy of the week" list right at this particular moment.

At any other time, if I thought about it long enough, I could name dozens of good folks here.

Stick around and get to know some folks. They in turn can give you a reference on other folks.

There are a lot of big dealers and heavyweight collectors who lurk here, if not actively post.

PQueue · February 21, 2013 6:56AM

Turn your PM function on.

PerryHall · February 21, 2013 6:58AM

Why would you want to buy raw coins when you can buy slabbed coins and just crack them out? When you consider that most raw coins being sold in the marketplace are optimistically graded and priced accordingly, slabbed coins are usually less expensive and you can be reasonable sure that they weren't messed with.

BryceM · February 21, 2013 6:59AM

Is there a particular reason you'd like to avoid slabbed, graded coins? There are plenty of fantastic dealers out there with outstanding ethics that I could recommend but they almost all deal exclusively in slabbed material.

There are several good reasons for this. Most obviously, a dealer in possesion of a truly nice coin can pay a modest grading fee and thereafter sell it for many multiples of what it might go for raw. If you insist on buying "high-grade" raw coins you run a considerable risk of overpaying for coins that will be difficult to sell when you're done with them. Potential buyers might disagree with your own assessment or even the authenticity of your coin at sale time.

That said, if you are knowledgeable and don't mind looking through piles and piles of dreck, there are plenty of very nice raw coins to be had. It's just that most of the better dealers don't carry or advertise such inventory. The best place to find these would be a regular patrolling of mom-n-pop coin shops that get new material in on a regular basis.

lcoopie · February 21, 2013 7:00AM

Bellago · February 21, 2013 7:00AM

Thank you for the kindness of your advice. I will take it.

ThePennyLady · February 21, 2013 7:01AM

Actually, as many here already know, that's exactly my specialty - Indian and Lincoln cents, including many nice quality raw pieces - and I live in SoCal. Feel free to check out my website if you like.

PTVETTER · February 21, 2013 7:07AM

as said before, there are a number of dealers on this very forum that can help you..
Just ask for what you want, and be very clear with what you want!

BryceM · February 21, 2013 7:10AM

+1 for Charmy (The Penny Lady). She carries tons of raw (and slabbed) coins to shows and she's incredibly great to deal with.

Bellago · February 21, 2013 7:28AM

<< Is there a particular reason you'd like to avoid slabbed, graded coins? There are plenty of fantastic dealers out there with outstanding ethics that I could recommend but they almost all deal exclusively in slabbed material.

There are several good reasons for this. Most obviously, a dealer in possesion of a truly nice coin can pay a modest grading fee and thereafter sell it for many multiples of what it might go for raw. If you insist on buying "high-grade" raw coins you run a considerable risk of overpaying for coins that will be difficult to sell when you're done with them. Potential buyers might disagree with your own assessment or even the authenticity of your coin at sale time.

That said, if you are knowledgeable and don't mind looking through piles and piles of dreck, there are plenty of very nice raw coins to be had. It's just that most of the better dealers don't carry or advertise such inventory. The best place to find these would be a regular patrolling of mom-n-pop coin shops that get new material in on a regular basis. >>

Thank you for your reply. I have quite a few slabbed coins, and the idea of cracking them always made me feel that if sold, those coins (ungraded) would usually downgrade one or two levels. I do mind going through piles of dreck, used to love doing that as a 12 year old, at banks in the early 1960's, though I haven't seen a mom/pop coin store in years. I think your advice is great, thank you!

Bellago · February 21, 2013 7:29AM

<< Actually, as many here already know, that's exactly my specialty - Indian and Lincoln cents, including many nice quality raw pieces - and I live in SoCal. Feel free to check out my website if you like. >>

Thanks Pennylady, I'm glad you replied. I'm along the Calif. Central Coast.

MsMorrisine · February 21, 2013 7:29AM

you can ask for references here.

what general area are you collecting?

cucamongacoin · February 21, 2013 7:33AM

Van Nuys Coin show, this Sunday, at the same location where the Michael Aaron auctions were held.

PerryHall · February 21, 2013 7:36AM

<< +1 for Charmy (The Penny Lady). She carries tons of raw (and slabbed) coins to shows and she's incredibly great to deal with. >>

.....and she can be trusted to treat you fairly.

RYK · February 21, 2013 7:43AM

Another endorsement for The Penny Lady. She's your guy!

ThePennyLady · February 21, 2013 7:43AM

<< 

<< Actually, as many here already know, that's exactly my specialty - Indian and Lincoln cents, including many nice quality raw pieces - and I live in SoCal. Feel free to check out my website if you like. >>

Thanks Pennylady, I'm glad you replied. I'm along the Calif. Central Coast. >>

I'll be at the McIntosh show at the Red Lion Inn (now Doubletree) in Sacramento March 29-30 in case you can make it to that show.

Swampboy · February 21, 2013 8:04AM

All the suggestions/Referals so far are A number one.
I'd chime in and mention cucamongacoin is a great raw coin seller.

SaorAlba · February 21, 2013 8:42AM

Charmy, oh I drool everytime I view your site - the goodies I really really want are the ones you keep for your own clutches though, those tea kettle cents etc.

WTCG · February 21, 2013 1:49PM

There is no definitive way to know which dealers always sell accurately graded raw coins. Grading is subjective and so a coin that might appear to have problems to you might not to someone else even if they are grading in good faith. A coin labeled as a problem coin might appear to you as one without any problems.

It's mostly trial and error. Buy from a few sources and if you find a seller you begin to trust with their descriptions then buy from them from then on.

Wolf359 · February 21, 2013 2:02PM

Harlan Berk, Chicago, is pretty good. They have a website.

astrorat · February 21, 2013 2:08PM

Brian Greer (conservative grader ... buy raw, sight unseen and never worry)
David Kahn (accurate grader often with premium material)
Harlan J. Berk (too bad Tom is no longer there)
JJ Teaparty (accurate grades but I prefer using their images)

BAJJERFAN · February 21, 2013 2:43PM

Dale Williams aka CollectorUSA on eBay is a former PCGS grader and sells lots of raw coins there.

johnny9434 · February 22, 2013 5:49AM

welcome to the forums.

Elcontador · February 22, 2013 5:57AM

Fifteen years ago, I attended several of Aron's auctions. I did not like what I saw re raw coins, I found their slabbed coin offerings to be nothing exceptional, so I haven't been back.

The only raw coin I would ever buy, and I haven't done this in all of the years I have been collecting, would be from an EAC specialist I trusted, after getting another opinion from someone who knew more about the perspective coin I was thinking of buying, than I did.

Most coins are raw for a good reason. That's why I stay away from them.

Sonorandesertrat · February 22, 2013 6:22AM

Tom Reynolds (earlycoppers.com)

PerryHall · February 22, 2013 6:33AM

Usually, an expensive raw coin is raw for a reason. Caveat emptor.

Ethical Coin Dealers

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