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May 8, 2009, Newsletter Issue #168: Alternatives To The Mainstream Coin Dealer
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Tip of the Week
One place to purchase additions to your coin collection is through the coin dealer at the coin shop or from a coin dealer making the rounds at a coin show. However, there are alternate places you can go to, to find coins for your collection as well. Here are some suggestions:
Coin Purchase By Mail – You can make a coin purchase via mail if you live in an area where travel to a coin shop or coin show is difficult, or if you just prefer its ease and convenience. Try coin periodicals, which place numerous ads for many types of coins. You will want to check the terms of purchase, confirm the pricing, and check which organizations the coin dealer belongs to.
Mail Bid Sales - Mail bid sales are another way of finding the coins you’re looking for, for your coin collection. You can make an offer on the coin based on limits surrounding a minimum bid. At times, the firm conducting the sale may refuse all offers according to the transaction terms. Some of the coin pieces may be owned by the firm and some by have outside ownership.
Auctions – Auctions work much like mail bid sales. However, a coin sold at an auction goes to the highest bidder over the minimum. Coins sold at auction often are owned by parties outside of the auction house.
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