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Rare Coins And Real Auctions

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New Member

United States
1 Posts
 Posted 06/08/2012  11:03 am Show Profile   Bookmark this topic Add AvlPhoenix to your friends list Get a Link to this Message Number of Subscribers
I am really new to collecting coins, kinda started because I collected mostly old silver and anything that came through that looked old or different. I have some really old coins including a Nickel from 1893,a Penny from 1898, and some Quarters and Dimes from the early 1900's. Saw on discovery channel where a nickle like mine sold for an insane amount of money. How do you find real auctions for collectors and know your getting good money for your coins ?

AvlPhoenix
Bedrock of the Community
United States
20753 Posts
 Posted 06/08/2012  11:13 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Not an easy question. Almost every auction I've been to are loaded with people that work for the auctioin house. They sit in the audience and help keep the bidding going by bidding too. This means that your chances of getting a good deal is rare. Yes there are real, honest ones but so far I haven't found any. Places on the internet too, like ebay, are loaded with rather dishonest individuals. And of course there are alot of normal, honest, truthfull people also. And too what you see on TV is not necessarily a completely true story you know. Yes some coins do sell for a lot of money but not all of them.
I always suggest looking into purchasing a Red Book by Whitman Publishing. It is possibly the largest selling book on coins and will give you a really decent background into coin collecting.
Good Luck.
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basebal21's Avatar
13014 Posts
 Posted 06/08/2012  12:42 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
The best bet is to really just look around if your trying to sell. Call a few different places see what theyre offering. Check out old ebay auctions see what it sold for, if its a graded coin sometimes PCGS will have old auctions that coin was in listed and what it sold for and check and see what websites sell the coin for. Once you know how much you want for it you can try and get that from some dealers or go ahead and put it on ebay for what you want ect. Numismedia has pretty good ballpark figures for what stuff is worth too

Its also worth noting not every shop will treat the coin the same. I had some pcgs 69 commems I had upgraded and was trying to sell. Some shops that dont really deal in commem coins offered me bullion value for them, but with a little looking I was able to get a few hundred dollars more when I found a shop that dealt in commems.

Not always, but generally you will get better offers from shops that deal with a lot of coins like yours since they have the customer base to sell them
Edited by basebal21
06/08/2012 12:45 pm
Valued Member
Mechman's Avatar
United States
275 Posts
 Posted 06/08/2012  2:19 pm  Show Profile   Bookmark this reply Add Mechman to your friends list Get a Link to this Reply
Research it the word. You need to do your homework if you are to get the maximum price for these coins. Most dealers will offer you 1/2 the value that they can sell it for. You can negotiate a price in between that and the fair market value (FMV)
Take your time and don't rush. The value usually tends to go up so waiting is not a bad thing.
Just saying.
OH Hope you get allot of enjoyment from this experience.
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SaintRidley's Avatar
United States
592 Posts
 Posted 06/08/2012  5:12 pm  Show Profile   Bookmark this reply Add SaintRidley to your friends list Get a Link to this Reply
I'm betting the nickel you heard about from the T.V. was a 1913 Liberty Head nickel - they have a big V on the back. There are only five of those and they aren't supposed to exist, hence the price.
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