Unfortunately, there are many potential problems when it comes to coin auctions. Those who wish to buy and sell coins this way should proceed with caution and work with a Michigan coin dealer to make sure that they don’t get a bad deal. First, there is a higher chance of fraud anytime you are dealing with an auction, particularly when the auction is online. Because the buyer and seller usually never meet, the buyer can never be entirely sure about what they are buying and the seller can never be truly certain that they will get paid. It is not uncommon to have an item displayed that is not the true item being sold, just a representation. Before deciding to buy and sell coins online, it is highly recommended that you get as much information from your Michigan coin dealer as possible about the item you will be bidding on to make sure you know exactly what you are getting. Often when you buy and sell coins, you are forced to deal with the reserve price that is set. When the reserve price is set higher than you think it should be, you may decide to bid higher than you originally wanted to because you want the item. This

When you are looking to buy and sell coins, especially rare coins, auction sales may be one of your best options.  Your Michigan coin dealer can help you locate the coin auctions that are most likely to include rare specimens that you might be interested in.  If you are in a hurry to get your rare coin, then you should know that many of the online auctions may take 3-4 months to close a sale on a rare coin, because processing the bids can take a long time, and they auction site may keep the bidding process open for a long time to see what the best price that they can get might be. There are several advantages to bidding for rare coins through online auctions.  It is common for deals to fall through, so even if you are not the highest bidder, if those higher bids fall through then you may be able to get that rare coin that you were hoping to obtain, and still pay the price that you were willing to pay.  Your Michigan coin dealer can help you to follow the bidding process and can help you learn when the bidding process re-opens and you would be able to resubmit

Anyone who is interested in learning how to buy and sell coins will come across the option of coin auctions.  Finding coins for your coin collection can be a daunting task, especially if you happen to prefer to specialize in a particular type of coin, like a certain metal or certain era or certain country.  Some people have great luck when they shop at their Michigan coin dealer, others prefer to get coins from coin auctions.  There are many advantages and disadvantages to coin auctions. One of the main advantages of coin auctions is that the negotiations are fairly simple.  There is a reserve price that is set for a particular coin, and this can make it easier to decide whether or not to put a bid in for that coin.  When there is a reserve price determined, it helps you know the estimated value of the coin. Another advantage of auctions is that buyers will participate in the bidding process.  This means that they only need to place bids up to the price that they are willing to pay for a coin.  This helps people who want to buy and sell coins stay within their budget.  Buyers can make a decision to spend more,

Coin collectors can be categorized in several different ways.  Some coin collectors are more casual, while others are very advanced and invested in the hobby.  Each type will specialize in a different type of collecting.  All types of coin collectors will generally be interested in learning about how to buy and sell coins, and working with a Michigan coin dealer can be a fast way to learn the ropes. Casual Coin Collectors:  This is the most common type of coin collector.  The casual coin collector will vary in age, from childhood to the elderly, and collects coins simply for the fun of it.  Some coins in their collection will be obsolete, while others may have significant value.  Commemorative coins, error coins and specialty tokens will be found in the collection of the casual collector. Curious Coin Collectors:  This type of collector represents a slightly more serious level than the casual coin collector.  A curious coin collector may be more interested in buying coins, rather than simply keeping interesting specimens that they receive as gifts or find accidentally.  The curious coin collector may be more interested in browsing through coin shops and making occasional purchases.  Surfing the Internet to find great deals is also

Bullion coins are very valuable for several reasons. They are few and far between and may come from ancient eras. Bullion coins are also known to be found in shipwrecks, making them extremely valuable. Many collectors spend years searching for these valuable coins. If you are looking to buy or sell coins, particularly bullion coins, you may want to enlist the help of your Michigan coin dealer. The most well known type of bullion coin is the silver bullion coin. This coin sells very well and is considered to be one of the most valuable coins in the world. In particular, the silver ingot, which was found in the Spanish wreck Atocha, is extremely valuable. Other silver ingot coins have been found in mining areas of Colorado, presumably hidden there by miners years ago. Silver Maple Leaf coins that are officially sealed are very desirable to collectors. Originally minted by the Royal Canadian mint, they are as popular as the US Silver Eagle coins. While silver bullion coins are extremely popular, gold bullion coins are even more preferred. Some of the most famous gold bullion coins include the Krugerrand coins of South Africa. Other special interest gold bullion coins include the European

Some coin collectors will opt for collecting as many types of coins as they can get their hands on, while other coin collectors choose to be more selective about what they spend their money on when it comes time to buy and sell coins.  Some collectors believe that having a large number of coins makes for a good collection, while others feel that having fewer, more special coins should be the goal.  Neither viewpoint is incorrect when it comes to coin collecting, as it is a personal journey for each collector.  Working with your Michigan coin dealer, you can start to develop the coin collection that is right for you. Those who choose to collect fewer, more special coins often view those who amass large amounts as hoarders of coins.  People have been hoarding coins for hundreds of years in various types of coin collections.  While this is one way to collect coins, it can often result in a disorganized collection.  Those who choose to collect large numbers of coins should aim to have optimal organization of their collection in order to enjoy it to the maximum. Most of the time, hoarding of coins is done because there is a known or

The proper handling of your coin collection is important, if you want to retain the value of the coins that you have.  People who buy and sell coins are often unsure at first about the proper handling and safe techniques.  If you have specific questions about how to properly handle coins, you can contact your Michigan coin dealer for advice.    Minimal handling is typically recommended. Ideally, any time that you absolutely must handle a coin, you should try to only touch it on the edges.  Your fingers have oils on them and fingerprints can be extremely damaging to the surface of collectible coins.  This damage will reduce the value of the coin. Also, never let coins come into contact with your mouth.  The enzymes in saliva are very damaging and can cause spots on the coins. Many coin collectors will actually wear gloves and masks while handling their precious coins.  This helps to protect the coins from coming into contact with any harmful bodily fluids. Any time that you are handling your coins, use a soft cloth to place them on.  Be sure to never drag your coins across any surface, this can cause scratches on the coins. Another thing to avoid when handling

There are some coins that, in the world of coin collecting, are worth “traveling to the ends of the Earth for.”  These rare coins are truly viewed as gems, and many collectors will go well out of their way to obtain them.  Your Michigan coin dealer may be able to help you track down these rare specimens as you try to buy and sell coins. Rare coins are more commonly made from gold than other metals.  One of the reasons that rare gold coins are so attractive is that they will always hold their value and be an excellent investment. On the list of the most desirable rare coins is the Liberty Seated Dollar coin.  These coins were most recently minted in the late 1800s and are quite rare. During the period of 1875-8, there were twenty-cent coins minted.  While these coins resemble quarters, they were only twenty cent coins and because they were produced for such a short time they are extremely difficult to locate and obtain, but extremely valuable. Between 1892-1915, Barber half dollars were minted.  These rare coins are collected based on their date or type of series.  Finding a coin of this variety that is in good condition is

Grading coins is one way to determine their value.  For example, a coin is evaluated according to several factors, including appearance, whether or not it was circulated, damage and other factors as well.  Your Michigan coin dealer can help to explain the many conditions that apply for grading of coins. Grading of coins helps to categorize them and rank them according to value.  Before you buy and sell coins, you should be aware of a coin’s grade, which will affect the price that you will pay or receive from a buyer. Many people involved with coin collecting assume that grading of a coin is more art than actual science.  While it is subjectively based, there are some factors that are fairly objective and this makes a difference in the price.  The process of grading coins is one that can be learned and studied, and therefore, applying it can be somewhat predictable.  It does, however, take some degree of experience to properly grade coins. The most common scale used by numismatists (coin collectors) is the Sheldon grading scale.  This scale has many grades available.  Even experienced coin graders enjoy that there are so many different factors that having a scale broad enough to

For as long as coins have been issued as a method of trading, they have been collected.  Sometime during the Middle Ages, coin collecting started to become a hobby, based primarily on the art and history that could be represented by the coins.  Your Michigan coin dealer can help you learn more about the history of coin collecting and help you learn how to buy and sell coins for the best results. Today, coin collecting is an extremely popular hobby.  Gold coins are one of the most popular types of coins collected, usually because of their beauty and value.  There are gold coins in the world that have been purchased for approximately $8 million.  The most expensive gold coin ever purchased was a 1933 American Gold Eagle.  Coins such as these give this hobby the nickname, “The Hobby of Kings.” Gold was the oldest form of currency, next came silver coins.  Gold coins only circulated in the United States between 1838-1933, with the design being the Liberty Head (until 1907).  After that, there was an Indian Head design and the St. Gaudens style coins, which were minted until the Great Depression began in 1933.  At that point, all gold coins were recalled and they