How do you buy new coins?

[keeron-migration]

This is mostly for the new releases from the US Mint. I am just starting to start collecting coins seriously (earlier was mostly doing stamps/notes, world coins but not the bullion or certified ones).

 

Starting off, I got some nice deals (mostly NGC certified coins) from eBay and couple of other sites.

 

I've seen a lot of people (a lot lot on ebay) have items either before or just on the day US mint releases these coins. How do they get them so early? The USMint.gov site doesn't list all of them (or atleast now, maybe early in the year they had the Silver eagles, etc for ordering). Is there any other way to order from the mint?

 

I am especially waiting for the 2nd Presidential dollar (roll). That comes out in May 2nd week I think and I was hoping I'd get in early like others do... same goes for the Gold coins that come out later in the year (burnished 2007 Eagles, fractionals - hopefully - on the buffalos).

[michael]

seriously

 

it sounds like you are off to a good start with a great plan

[Conder101]

You will find that a lot of those listing you see on ebay are either pre-sales (for the ones listed before the first day they are available) or speculation listings (listed o the first day) In the first case the seller is pre-selling the item and will deliver it once he gets the after they become available. He will be there on the mint site ordering a bunch of the item as soon as they become available and hoping he gets some of the early deliveries. His upside is that many of the buyers will be paying him more than what the mint is selling them for which is instant profit. His down side is that he may not get all of his orders in before they start going to back orders. When that happens he stops ordering and refunds to those sellers since he won't be able to deliver within the thirty day window eBay allows for pre-sales. His other risk is that some of his orders, even though they are not back ordered may not arrive in time. In tat case he is supposed to refund, but then he will be stuck with sets that he has had to pay for out f his own pocket instead of using someone else's money.

 

The speculative seller is pretty much the same except that since he has waited until the first day of sales from the mint before he lists his eBay auctions he has to speculate up front with his own money instead of yours, ordering a supply of the coins and hoping they get delivered quickly. Since he is fronting his own money, he is running higher risks. The coins might not sell or at least not sell as many as he ordered. I which case he is stuck with coins with his money tied up in them. Or they might sell well, bu he get stuck with a bunch of back orders from the mint which means angry customers, money refunded, and his money still tied up in the back orders.

[keeron-migration]

Thanks Conder101,

 

I've been spending some on the US mint's site going over their schedule and prices and similar (pre-sale) auctions on ebay and I already ordered (items / subscriptions) from the Mint's site. I'd probably buy the certified coins from ebay once sellers start listing them and if the price is cheaper than what I'd pay if I had to personally certify them (without buying large quantities from the mint).

 

Does it help going to local dealers and checking their prices? I don't seem to have any major coin shows where I live (Seattle, WA) but it'd probably be a good expereince going to one of those