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Safe Coin Buying (S.C.B.)
CertifiedGoldCoins
Posts: 1,644 ✭✭✭
The recent revival of the "CW China Counterfeiting Cover Story" thread LINK inspires me to post the following, in the hope that someone who reads it will avoid getting burnt on eBay.
Detecting counterfeit coins by comparison with coins known to be genuine is the method I prefer. It is better to compare them side-by-side, but if one has seen enough coins, it can be done from memory. That skill requires years of experience, so those who have not had that experience personally should rely on the experience of others, such as a trusted dealer, or even better, those employed by the top tier third party grading services.
Even if one "knows" about a particular coin series or type, exercising caution with a different series or type with which one is unfamiliar is advisable, because one must begin a brand-new learning curve. That's my suggestion for Safe Coin Buying (S.C.B.).
The reverse of the S.C.B. principle can be seen amply demonstrated all over eBay, where newcomers to the hobby use their money unwisely buying coins of doubtful authenticity, or even worse, aggressively bidding for obviously fake coins that were mass-produced to take advantage of the unwary.
Anyone who wants to add some tricks of the trade that might benefit others is encouraged to reply.
Detecting counterfeit coins by comparison with coins known to be genuine is the method I prefer. It is better to compare them side-by-side, but if one has seen enough coins, it can be done from memory. That skill requires years of experience, so those who have not had that experience personally should rely on the experience of others, such as a trusted dealer, or even better, those employed by the top tier third party grading services.
Even if one "knows" about a particular coin series or type, exercising caution with a different series or type with which one is unfamiliar is advisable, because one must begin a brand-new learning curve. That's my suggestion for Safe Coin Buying (S.C.B.).
The reverse of the S.C.B. principle can be seen amply demonstrated all over eBay, where newcomers to the hobby use their money unwisely buying coins of doubtful authenticity, or even worse, aggressively bidding for obviously fake coins that were mass-produced to take advantage of the unwary.
Anyone who wants to add some tricks of the trade that might benefit others is encouraged to reply.
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my early American coins & currency: -- http://yankeedoodlecoins.com/
my early American coins & currency: -- http://yankeedoodlecoins.com/
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Comments
1. Always trust your gut... if it doesnt feel right...dont buy it
2. If the deal is too good a deal....half the sheet etc... dont buy it
There aint no Santa in the coin biz!
before you start collecting a series, by a book on it !!!
for example, when i got into collecting gold quarter indains,i bought a book on the gold coins. really came in handy.
you can still buy from e-bay just do your homework, if a seller has a feedback of lets say 3400 and all he sells are coins, chances are good he's on the up and up.
if a seller is selling his grandfathers collection STAY AWAY, and move on....
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire