How To Use Online Auctions

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Is there a safe way to buy coins at online auctions?

How To Use Online Auctions

Although online auctions are not the most ideal place to make your coin purchase, it can be a viable option for you to find what you're looking for if you take a few precautionary measures. If you do decide to buy your coins through online auctions, keep the following advice in mind.

  • Conduct your transactions with reputable dealers, such as members of the Professional Numismatists Guild (PNG). If you're conducting your transactions on eBay, avoid dealers with numerous negative feedback.
  • Don't expect to get a good deal for your coin purchase. Many of the coins offered online have reserves at or above the actual fair market value of the coin.
  • Do not expect to get a coin at premium quality online. Dealers may decide to sell coins online which are spotty and of low quality.
  • Read the terms of the sale before you bid. Sometimes there are hidden fees in the fine print and you don't want to get stuck paying more for a coin purchase than you thought you were going to pay.

   

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