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Where can I buy quality coins?

Started by benjmurts,

42 posts in this topic

benjmurts

benjmurts

Posted
Posted

There is soooooo much garbage on Ebay, way overpriced junk I wouldn't pay half the current bid.

I have no problem paying the actual price for decent coins but come on. The coin shops are overpriced, auctions are full of people overpaying, and there isnt much locally. Where do go online?? I see you can bid on coins through NGC links on ebay but is there anything else?

 

Recommendations please

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physics-fan3.14

physics-fan3.14

Posted
Posted

You can buy quality coins anywhere - and there is going to be plenty of junk anywhere as well. There is plenty of quality on Ebay, you just have to spend the time to find it.

 

Heritage is usually a really good place to find stuff as well.

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GoldFinger1969

GoldFinger1969

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Local coin dealers can be good sources. Heritage and other auctions.

 

Newer coins ? Ebay isn't bad. For older stuff that cost$$$, I am wary of Ebay. Rather pay an extra 5-10% at an auction house and know I am getting quality than pay the premium on Ebay and maybe getting counterfeit.

 

Coin shows are also good.

 

If you read my SAINT GAUDENS threads -- not sure what coins you want to buy -- you will see that prices are all over the place for what I am looking at/buying, so don't get discouraged. I see the bulk of the prices for the coins I want at least 30% more on Ebay, for example.

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MarkFeld

MarkFeld

Posted
Posted
There is soooooo much garbage on Ebay, way overpriced junk I wouldn't pay half the current bid.

I have no problem paying the actual price for decent coins but come on. The coin shops are overpriced, auctions are full of people overpaying, and there isnt much locally. Where do go online?? I see you can bid on coins through NGC links on ebay but is there anything else?

 

Recommendations please

 

What do you mean by "the actual price for the decent coins"?

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benjmurts

benjmurts

Posted
  • Author
Posted

There is soooooo much garbage on Ebay, way overpriced junk I wouldn't pay half the current bid.

I have no problem paying the actual price for decent coins but come on. The coin shops are overpriced, auctions are full of people overpaying, and there isnt much locally. Where do go online?? I see you can bid on coins through NGC links on ebay but is there anything else?

 

Recommendations please

 

What do you mean by "the actual price for the decent coins"?

 

 

Book price

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MarkFeld

MarkFeld

Posted
Posted
There is soooooo much garbage on Ebay, way overpriced junk I wouldn't pay half the current bid.

I have no problem paying the actual price for decent coins but come on. The coin shops are overpriced, auctions are full of people overpaying, and there isnt much locally. Where do go online?? I see you can bid on coins through NGC links on ebay but is there anything else?

 

Recommendations please

 

What do you mean by "the actual price for the decent coins"?

 

 

Book price

 

What book price?

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mkman123

mkman123

Posted
Posted

there are many collectors here who have nice stuff for sale on the marketplace, check it out.

 

Also what book price are you talking about? greysheet or ? Hate to tell you but their are some coins that you can throw away the greysheet as they sell for far more.

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Raisethis2

Raisethis2

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I buy everything at coin auctions within about 100 miles of my house. A decent well attended auction still provides opportunities for buyers at all levels. You just have to be disciplined and stop bidding on a lot if it exceeds your number.

 

The advantage is that you get to view the coins in hand and grade them with your own eyes. I generally target maybe 50 lots with specific desire to buy maybe 5 of them. The others are bought with the understanding I'm buying them cheap or not at all, just to re-sell them.

 

The proceeds then are used to buy what I want either from Dealers, E-Bay or other auctions. It always comes down to 3 things.

 

1. Is it for my collection?

2. Is it priced correctly?

3. Does it grade correctly for the money.

 

NEVER buy a coin on E-Bay without a 14 day return policy.

ALWAYS look at a coin in any other auction with your own eyes before you buy it.

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mtnstyne

mtnstyne

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I buy everything at coin auctions within about 100 miles of my house. A decent well attended auction still provides opportunities for buyers at all levels. You just have to be disciplined and stop bidding on a lot if it exceeds your number.

 

The advantage is that you get to view the coins in hand and grade them with your own eyes. I generally target maybe 50 lots with specific desire to buy maybe 5 of them. The others are bought with the understanding I'm buying them cheap or not at all, just to re-sell them.

 

The proceeds then are used to buy what I want either from Dealers, E-Bay or other auctions. It always comes down to 3 things.

 

1. Is it for my collection?

2. Is it priced correctly?

3. Does it grade correctly for the money.

 

NEVER buy a coin on E-Bay without a 14 day return policy.

ALWAYS look at a coin in any other auction with your own eyes before you buy it.

 

While this is good advice it doesn't apply to everyone and the OP may be in a position where he can't attend auctions in person. I know how difficult that can be...there are no coin shows or auctions within probably half a days drive to my current location. Only one coin shop and it was robbed recently and the FBI is holding onto all the recovered inventory so he is essentially shut down.

 

Heck, the closest franchise restaurant from my house is around 90 miles. I do have plenty of elk, deer, antelope, bison, and saw a moose last week. I also have about 12" of new snow in my driveway doh! I am still working my way to the mailbox.

 

I would recommend Heritage, Stacks, and then just trying to find some dealers with a good reputation that you might be able to establish a relationship with. Shane (Krytonitecomics) sells on eBay and most of his stuff looks nice and he has good pictures and return policy. I am sure there are others, you just have to weed out the bad to find the good.

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DaveG

DaveG

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There are many excellent (what we used to call mail-order) dealers.

 

There are also many fine dealers who attend coin shows.

 

If you want on-point recommendations, please describe what kinds of coins you collect and what price guides you use; and, if you can travel to coin shows, which shows you can travel to.

 

The more specific your response, the better advice we can give.

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benjmurts

benjmurts

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There are many excellent (what we used to call mail-order) dealers.

 

There are also many fine dealers who attend coin shows.

 

If you want on-point recommendations, please describe what kinds of coins you collect and what price guides you use; and, if you can travel to coin shows, which shows you can travel to.

 

The more specific your response, the better advice we can give.

 

I have one decent coin dealer within 100 miles of me, but he only has so much, (I have gone through it all)

I use red book and collect high grade pennies and dimes

 

I go to all coin auctions around but they arent the greatest

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MarkFeld

MarkFeld

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Posted
There are many excellent (what we used to call mail-order) dealers.

 

There are also many fine dealers who attend coin shows.

 

If you want on-point recommendations, please describe what kinds of coins you collect and what price guides you use; and, if you can travel to coin shows, which shows you can travel to.

 

The more specific your response, the better advice we can give.

 

I have one decent coin dealer within 100 miles of me, but he only has so much, (I have gone through it all)

I use red book and collect high grade pennies and dimes

 

I go to all coin auctions around but they arent the greatest

 

If by "actual price" and "book" in your earlier posts, you meant Red Book, that's probably a large part of the reason you can't buy "quality coins".

 

There will be exceptions, but guides are often inaccurate and quality coins tend sell for more than prices listed in guides. Did you know that Redbook prices are submitted to the publisher several months (if not longer) in advance of the book being published. How accurate do you think it can be?

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McBlzr

McBlzr

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The 2015 !!! RedBook is being shipped on April 15, 2014 !!!

 

How do you know what the 2015 prices will be ???

 

https://www.whitman.com/store/Inventory/Detail/2015-Red-Book-of-United-States-Coins-Spiral+0794842151?trk_msg=178TCVGVMMUKFCK0UK6PR5CJMG&trk_contact=KOUE3MCQDBLRJFFA420606PM6G&utm_source=Listrak&utm_medium=Email&utm_term=spiral&utm_campaign=Get+your+2015+Red+Book+before+anybody+else!

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MarkFeld

MarkFeld

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And prices for it were submitted last year.

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DaveG

DaveG

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I have one decent coin dealer within 100 miles of me, but he only has so much, (I have gone through it all)

I use red book and collect high grade pennies and dimes

 

I go to all coin auctions around but they aren't the greatest.

 

 

 

If that's your idea of a "specific response", then I doubt if anyone will be able to offer any useful recommendations.

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James_OldeTowne

James_OldeTowne

Posted
Posted
There is soooooo much garbage on Ebay, way overpriced junk I wouldn't pay half the current bid.

I have no problem paying the actual price for decent coins but come on. The coin shops are overpriced, auctions are full of people overpaying, and there isnt much locally. Where do go online?? I see you can bid on coins through NGC links on ebay but is there anything else?

 

Recommendations please

Give us, for instance, five examples of coins you are looking for but cannot find at a "reasonable price".

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GoldFinger1969

GoldFinger1969

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There will be exceptions, but guides are often inaccurate and quality coins tend sell for more than prices listed in guides. Did you know that Redbook prices are submitted to the publisher several months (if not longer) in advance of the book being published. How accurate do you think it can be?

 

Mark makes an excellent point, but remember that prices can also change in you favor. If the price of gold/silver (but more so gold) should fall between publication/data gathering of a book and when you are buying, you can sometimes buy cheaper.

 

The easiest way to see what the price of gold/silver was when the book was published (since they don't usually give the month of publication) is to see what the more common gold coins are selling for in the lower grades. That's usually about what the price of bullion goes for. This is useful if you are using a book that is NOT published every year and you use the book as a guide. Some of my Saint Gaudens/Gold Coins books were published when gold was $500-$800/oz.

 

For annual books like The Red Book, this usually isn't that big a factor (though with the 2013 and 2014 books it was since gold fell alot). But for the books published years ago, for coins that trade at steady premiums to bullion, you can buy cheaper than what the books quote. For the higher grades where premiums rise greatly above bullion, this will be less useful.

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GoldFinger1969

GoldFinger1969

Posted
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The 2015 !!! RedBook is being shipped on April 15, 2014 !!! How do you know what the 2015 prices will be ???https://www.whitman.com/store/Inventory/Detail/2015-Red-Book-of-United-States-Coins-Spiral+0794842151?trk_msg=178TCVGVMMUKFCK0UK6PR5CJMG&trk_contact=KOUE3MCQDBLRJFFA420606PM6G&utm_source=Listrak&utm_medium=Email&utm_term=spiral&utm_campaign=Get+your+2015+Red+Book+before+anybody+else!

And prices for it were submitted last year.

 

That early ? I would think in today's digital/PC world the prices were more up-to-speed but maybe not.

 

I knew there was a lag but I thought it was 3-6 months lagged, not 12-18 months from the shipping date.

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michael

michael

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Where can I buy quality coins?

benjmurts

 

 

Registered: 04/15/12

Posts: 188

There is soooooo much garbage on Ebay, way overpriced junk I wouldn't pay half the current bid.

I have no problem paying the actual price for decent coins but come on. The coin shops are overpriced, auctions are full of people overpaying, and there isnt much locally. Where do go online?? I see you can bid on coins through NGC links on ebay but is there anything else?

 

Recommendations please

 

PLEASE SEE BELOW AND THIS IS MY RECOMMENDATION TO YOU!!!!!!!!

 

www.earlycoins.com

 

www.davewcoins.com

 

good luck and welcome to the boards

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GoldFinger1969

GoldFinger1969

Posted
Posted
I have one decent coin dealer within 100 miles of me, but he only has so much, (I have gone through it all)I use red book and collect high grade pennies and dimes go to all coin auctions around but they arent the greatest

 

(1) Check the prices on Ebay for the coins you want.

 

(2) Check the auctions for the same coins.

 

(3) Call or visit some dealers.

 

(4) Ask on this website or others.

 

That should give you a good idea of what 'the market' is for your coins (which I don't know much about).

 

Although it's a different area entirely, you can check out my thread on pricing for a 1927 MS-65 Saint Gaudens gold coin here:

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Number=7335766&fpart=13

 

I started with the Red Book.....looked at Ebay...then the Auction Houses....then I specifically looked at completed sales/current offers on Ebay.

 

Net-Net, I got mine for about 10-15% below the lowest Ebay prices and like the quality of my coin (pics on my other 1st Saint thread)

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mumu

mumu

Posted
Posted
Where can I buy quality coins?

benjmurts

 

 

Registered: 04/15/12

Posts: 188

There is soooooo much garbage on Ebay, way overpriced junk I wouldn't pay half the current bid.

I have no problem paying the actual price for decent coins but come on. The coin shops are overpriced, auctions are full of people overpaying, and there isnt much locally. Where do go online?? I see you can bid on coins through NGC links on ebay but is there anything else?

 

Recommendations please

 

PLEASE SEE BELOW AND THIS IS MY RECOMMENDATION TO YOU!!!!!!!!

 

www.earlycoins.com

 

www.davewcoins.com

 

good luck and welcome to the boards

 

I think NOT being overpriced was included in his criteria:

http://www.coinraritiesonline.com/index.php?page=search&task=det_pl&offset=65&gal_id=1

 

 

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jpcienkus

jpcienkus

Posted
Posted
would great collections work for purchases?

 

Another great place to find coins!!!

 

There are so many to choose from it's hard to narrow it down. It just takes focus and patience.

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No+4Me

No+4Me

Posted
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over on the pcgs forum, "Stone" has compiled a master list of websites, including many quality dealers. Here is the link: http://forums.collectors.com/messageview.cfm?catid=26&threadid=607798

 

Not sure when it was last updated, as it still includes Mark Feld!

 

the Penny Lady and Eagle Eye may have things of interest to you.

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Matt_dac

Matt_dac

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This is why price sheets and guides are irrelevant in my opinion whether Gray Sheet, Numismedia, Red Book, etc.

 

The only thing that matters is supply and demand.

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mumu

mumu

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This is why price sheets and guides are irrelevant in my opinion whether Gray Sheet, Numismedia, Red Book, etc.

 

The only thing that matters is supply and demand.

 

It's not that simple in niche markets. Maybe in cattle pork bellies and corn. But in hobbies, people make mistakes. And that throws off the demand side.

 

Take the peace dollar I posted above. Is that coin worth 5x retail book listing and 8-10x grey sheet? Is there a demand for common date Peace dollars in MS 65 with ugly tarnish that takes the price to 5x book? No. If someone posted that same dollar on the marketplace it would go unsold and there would be snarky comments about the asking price for it, while 10x nicer color units go unsold at half the price.

 

But someone at some point will get a spiel about how rare toned peace dollars are and how they stand behind the coin at that price and the CAC sticker and the free hat and BAM, someone will pick it up at 500$ as a throw in to make a $9500 coin purchase a nice round number.

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