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I Need Help . I Don't Want To Get Scammed .

 
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Pillar of the Community
United States
7134 Posts
 Posted 11/12/2019  4:37 pm  Show Profile   Check edweather's eBay Listings Bookmark this reply Add edweather to your friends list Get a Link to this Reply
Easier to make suggestions if you narrow down what you want to buy. Ebay is fine if you do your due diligence. Also APMEX and Provident.
Pillar of the Community
United States
807 Posts
 Posted 11/14/2019  08:00 am  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
APMEX, provident, JM Bullion they are all good sites for bullion type coins and good return policies and good reputations. Only thing I would suggest is immersing yourself in bullion prices and getting a good grasp of what a good deal/price is then look at those sites for sales and deals so you can buy low or nearer spot.

As always, trust but verify.

You can play the ebay game you can buy accumulations off of Craigslist if that's something you'd want to do but your scam chance get a lot higher.

Everyone makes mistakes. Main idea is to recognize and learn from them and not spend too much to learn where the traps are, but I think something gets by everyone at some point so don't let the mistakes or the scams that will eventually happen get you down.

I think if you start with the reputable bullion dealers, pay attention to spot prices and what the markups are, keep track of everything you buy so you know where it all needs to be to profit when you sell it, and don't overbuy to where you end up having to sell early and end up losing, and then just get comfor table before you move on to more risky ventures.

Maybe you want to do silver rounds, or bullion Eagles or "constitutional silve/junk silver" you'd want to have a good grasp of whatever it is you're buying's value and make sure you aren't overpaying. You'll find everyone has a differnt asking price and you want to wait for sales or price reductions to get the most bang for your buck.

Like many sellers buy rounds in bulk. If it's not selling too hot a year later, and they have too much inventory and Silver is up from where they purchased it at, sometimes they will sell just bellow the current spot price or at it just to clear it out and they are still making money on it. Don't fall into the impulse buying trap, where you just feel like you need to build a big stack and don't do the math on the cost vs. What you'll need to be able to profit when you sell it. Catalog your purchases, what you spent, how many oz. How much per oz. So later on you know what you need to he at to sell and break even... or better yet make a profit.

I'd avoid graded coins unless they are rare or a key date. Bullion is bullion and melt value is melt value if it's a common coin. Buy them if it's graded and near spot price, but what I mean is, don't pay for the slab. If it's common it won't matter to a dealer if is MS70 or G4 they are only gonna pay for the silver.
Edited by Big-Kingdom
11/14/2019 08:04 am
Bedrock of the Community
United States
18723 Posts
 Posted 11/14/2019  09:55 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Also check on local coin clubs. If there is a sort of large town near by, go there and see if there are any hobby stores. If there is, go in and ask about any coin clubs. Also, keep on posting until you have enough to buy from members right here.
just carl
New Member
United States
37 Posts
 Posted 11/19/2019  1:32 pm  Show Profile   Bookmark this reply Add DeLoss to your friends list Get a Link to this Reply
My purpose of collecting is the joy . Not the value . Sure value is nice but the feeling of finding a coin that you've been looking for and obtaining it is worth money . I do it for the fun and have a blast doing so .
Pillar of the Community
United States
7134 Posts
 Posted 11/19/2019  4:29 pm  Show Profile   Check edweather's eBay Listings Bookmark this reply Add edweather to your friends list Get a Link to this Reply
I do it for joy too, but there's no need to be in a hurry and throw away money in the process. Most of the fun is in the hunt anyway.
Pillar of the Community
Canada
2280 Posts
 Posted 11/21/2019  10:58 am  Show Profile   Check Wade's eBay Listings Bookmark this reply Add Wade to your friends list Get a Link to this Reply
If you are looking for the most bang for the buck then I suggest you start with a kraus catalog and buy mixed lots of world coins.

eBay rates are around $8-$10 per pound (10 cents a coin), and although it will take buying a few dud lots (heavy to modern or too many duplicates) once you get a few under your belt you will be able to pick out the better offerings.

Keep the ones you like and re-sell the bulk back on eBay. At the end of the day you won't have much invested (shipping costs and the coins you kept will be the only real expense other than your time)

For the cost of a single 1 oz gold eagle you can cycle through 20,000+ coins = good cheap entertainment.

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