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 Replies: 24 / Views: 2,744 |
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Valued Member
United States
337 Posts |
In general, I'm a person that likes a plan of attack. Process, checklists, and general rules of engagement are paramount before I get into anything. It's my way of insuring that I don't purchase items out of pure emotion but have a bunch of logical reasons too. As I am beginning to come up with my focus areas for collecting I've decided that anything over $100 USD will need a bit of that process. I'm looking for suggestions on how other people go about their purchases. Here is what I think I need to check so far (in no particular order): * Did the coin go through TPG? {Validity of merchandise} * Can the TPG be verified {online check?} * Is the year of mint important to me and/or affect the value? * Are there any unassisted naked-eye visible defects? * Does the dealer seem hesitant about allowing a closer inspection (magnifier or TPC [if not done already]? * Do I know this dealer & what is their reputation/credentials? * What do other sources recommend for prices of the same coin? Try to determine the reason for any +/- delta. * Compare the coin weight against known sources. * Compare the coin diameter against known sources. * Did I have another person review the item? {like this forum} * What is the mintage on the coin? ---can I easily find another one? * Why is this coin important to my collection? * Are there any specific anomalies of value on the coin that I'm looking for? * Is it within my budget? :) Again, what thought process do you go through when buying a coin? |
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Bedrock of the Community
Australia
21786 Posts |
ALL of what you mention is relevent to a decision I may have to buy.
Comparison ring tone is a good test, along with weight and diameter, and costs nothing.
Another question I ask myself:
'Is it good value for what I want to pay?'
Unfortunately, I am finding myself having to ask the question:
'Is this coin a fake?' This question comes into my mind with every coin I consider, and into prominance in about 2% of the coins I look at.
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Pillar of the Community
United States
3184 Posts |
I look at the price, I look at the coin and if my own eyes like it. If the price is decent then I buy it. I also try and make it a point to get slabbed as their are many fakes out their
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Bedrock of the Community
13014 Posts |
Quote:
'Is it good value for what I want to pay?'  I also take into account whether or not I would be able to get a better looking one for that price. Also if out of the coins I need for my set, if this is really the one I want to spend the money on or if theyre more desirable coins I would like to add first. That only applies for FMV prices, if the coin is a good deal I will pick them up in any order as I dont know if Ill be able to find that deal again |
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Valued Member
United States
70 Posts |
Quote:
Again, what thought process do you go through when buying a coin? A very simple one. A.) Make a wish list - coins I want, coins I need for sets I'm working on, and something cool(coin you don't see everyday, or everyshow) B.) Check completed sales from ebay, Heritage, and Teletrade, average the prices and add to wish list next to the coin C.) If slabbed, check pop report and TPG's opinion of retail price D.) Go shopping Edited by BUncirculated
09/29/2012 8:22 pm
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Valued Member
 United States
337 Posts |
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Valued Member
United States
71 Posts |
Emotion doesn't kill me like dishonest sellers .... trust but verify
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Valued Member
United States
337 Posts |
Great suggestions everyone. Thank you!
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Moderator
 United States
188342 Posts |
Quote:
What is a POP report? Population report. It is how many have been graded (in each grade) by the TPG. From the CCF Glossary... Quote:
PCGS Population Report
Monthly publication by PCGS listing the number of coins graded and their grade. Totals are for coins graded by PCGS since its inception in 1986. |
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Pillar of the Community
United States
3486 Posts |
POP = Population statistics, that is, the number of coins that a given TPG has on record. Most of us agree that this is misleading, based upon re-submissions. It is one other factor to take into consideration, but it is not biblical truth. And certainly, not accurate. Your criteria are quite sound and well-thought out. Good to know and thanks for sharing. |
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Valued Member
Austria
194 Posts |
it seems, as in europe the TGP is not as usual as in the us.
this different grading companies are mostly important for us-collectors?
it seldom to find pcgs,ngc,anacs graded and capsueled coins here.
all other aspects are right. but this also depends on what you are collecting.
okay, also the point:
* Are there any unassisted naked-eye visible defects?
is not so important to me. this shohs me, that a coin was in circulation.
Edited by platinrubel
10/01/2012 9:05 pm
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Bedrock of the Community
United States
20753 Posts |
I do the following: Never, ever buy from ebayNever, ever buy from on line dealers. Only buy coins from coin shows. Only buy from dealers I've known for many, many years at coin shows. I make a list of coins I need. Another list of coins I want. Another list of coins I'd like to have. I then go to a coin show and leave those lists at home. I then buy anything I see that I like and can afford. |
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Bedrock of the Community
13014 Posts |
Quote:
it seems, as in europe the TGP is not as usual as in the us.
this different grading companies are mostly important for us-collectors?
it seldom to find pcgs,ngc,anacs graded and capsueled coins here.
all other aspects are right. but this also depends on what you are collecting. They started in the US so it has built and spread here the fastest. They are expanding internationally with the coins they grade at least and I do think theres plans for offices to open over seas if they havent yet. They do travel and have grading events from time to time. In a few years or so you might start seeing them more but Id suspect it wont be huge until they get some over seas offices since its not really worth it cost wise to send a coin from Europe to California and pay for return shipping unless its a really valuable one |
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Bedrock of the Community
United States
20753 Posts |
Quote:
it seems, as in europe the TGP is not as usual as in the us.
this different grading companies are mostly important for us-collectors? I would think there are more US coins counterfeited than others. Or possibly coin collectors in other countries are not as aware of how many of their coins may be faked. As more and more counterfeited coins are found in other countries, TPGS's will start to become the norm everywhere. As with anything, it would only take one new TPGS to start in Europe or Asia, and POOF, many more will pop up. |
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Bedrock of the Community
13014 Posts |
Quote:I would think there are more US coins counterfeited than others. Or possibly coin collectors in other countries are not as aware of how many of their coins may be faked. As more and more counterfeited coins are found in other countries, TPGS's will start to become the norm everywhere. As with anything, it would only take one new TPGS to start in Europe or Asia, and POOF, many more will pop up. I didnt really think about it but US coins probably are the most faked overall |
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Bedrock of the Community
United States
17884 Posts |
My criteria list
Do I need it?
Is it what it is supposed to be?
Can I afford it?
How likely am I to be able to find a better one and/or a better deal within a reasonable amount of time? (Reasonable amount of time = 5 to 10 years)
If I need it, it is what it is supposed to be, I can afford it and if I am not likely to find another one anytime soon, I buy it.
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Replies: 24 / Views: 2,744 |
Posted 09/29/2012 8:03 pm
