Every coin collector has faith that he or she can make a profit after selling his or her coin collection. However, the small fortune is not made by those lacking enough knowledge and appropriate planning. Those who have tried to invest in this industry without those two things I have mentioned above end up disappointed because they either overpay or get ripped off. Coin collectors should collect only what they are interested in to enjoy the fruits of coin collecting for a long period. People buy or collect coins because of different reasons. Most of them do that because they inherited a coin collection or were introduced by their friends or relatives. If you have never dealt with coins before, you should avoid starting with large purchases. Small purchases are the best picks for you, as they can help you learn what is involved in the coin purchasing process. Additionally, when you start with the small purchases, your coin collecting budget will not be damaged a lot in case you make some mistakes.
You can buy coins from anyone or any place. But like other industries, this market has thieves and scammers who can rip you off. Because of that reason, you need to exercise caution during the buying process. Now, this poses the question “which is the best place to buy coins?” The best place to buy coins is well defined by either what coins you collect or by what means you collect them.
Now, Where Do You buy coins?
1) Local coin dealers
If you are new to this coin collection field, the best place to buy coins is from a local coin dealer. You can also buy them from local coin shows. Coin shows are the best for beginners because they give them a chance to interact with various coin dealers. Pick only those who are reliable and easy to work with.
2) The Internet
If you are looking for a place to buy coins, you can also turn your attention to the internet. Even though the internet looks like a reliable place, you have to be careful because it is full of thieves who can rip you off. Don’t buy coins here, unless you know the seller. But if it is the only option for you, read the experiences of other collectors with specific sellers. Such information can be mined from the review page of the seller’s website.
3) The United States Mint
The United States Mint is another place where you can buy coins. Even though the place is reliable, their premiums are charged high. Those working on a strict budget are advised to buy coins from the secondary market.
4) Foreign coin dealers
You can also look for a coin dealer in a foreign country if you are an ancient collector. Ensure you are dealing with well-reputed dealers here. Such dealers not only help you pull together your collection but also, take you through the import and export laws that you need to be abiding by. If you want to meet such coin dealers, you can show up at the New York International Numismatic convention that is held in January, each year.