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Best Buying Source For Coin Purchases?

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Author Previous TopicReplies: 13 / Views: 1,270Next Topic  
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mike31093's Avatar
United States
354 Posts
 Posted 08/06/2023  11:09 am Show Profile   Bookmark this topic Add mike31093 to your friends list Get a Link to this Message Number of Subscribers
Poll Question
Where do you (or did you) get the most bang for your buck with coin purchases?

Poll Choices
 Dealers
 Collectors
 U.S. Mint
  ebay
 Yard Sales
 Estate Sales
 On-Line Auctions

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United States
2218 Posts
 Posted 08/06/2023  1:31 pm  Show Profile   Bookmark this reply Add livingwater to your friends list Get a Link to this Reply
I've used them all, look for good deals, online sales, auctions, local coin store, etc. I only buy a few from US Mint and of course I try to avoid fakes from all. Can't really say I've gotten the best deals from just one source.
Edited by livingwater
08/06/2023 1:49 pm
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HondoB's Avatar
United States
25028 Posts
 Posted 08/06/2023  4:18 pm  Show Profile   Bookmark this reply Add HondoB to your friends list Get a Link to this Reply
Dealers (LCS) and collectors know what they have and you will rarely scoop up something at a bargain basement price.
The US Mint is a good source if you want particular coins NOW. Sometimes their limited editions increase drastically in price, while in other cases you can get some items from a few years ago for less than issue price from other sources.
ebay is good, as many sellers list there and you'll find items that are otherwise elusive. If you're patient and cherry pick, you can make great deals.
Yard sales and estate sales are all over the place. Sometimes bargain, oftentimes overpriced.
Other online auctions can be good but be aware of buyer's premium and shipping charges.
Inordinately fascinated by bits of metal with strange markings and figures
Edited by HondoB
08/06/2023 4:19 pm
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ijn1944's Avatar
United States
19129 Posts
 Posted 08/06/2023  4:35 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
As noted above, it's a mixed bag. Reputable coin shops and long-established coin shows are good sources, but they usually aren't dripping with great deals on a consistent basis. Depends too on what one is looking for/buying.
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kbbpll's Avatar
United States
4233 Posts
 Posted 08/06/2023  4:40 pm  Show Profile   Bookmark this reply Add kbbpll to your friends list Get a Link to this Reply
I feel like I used to get some good deals off ebay in auctions but now everything I'm interested in is BIN with ridiculous prices. HA and GC have been my main source lately and I feel like I got a good deal on "some" of them.
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jacrispies's Avatar
United States
3848 Posts
 Posted 08/06/2023  11:22 pm  Show Profile   Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply
Have been dealing and buying for a while and had the best prices with collectors and ebay. Good friends gives friends good deals. For ebay, it is the buy it now stuff or you may be able to snag a good deal with a best offer. But you cannot be lazy with ebay because the good deals go quick!
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jbuck's Avatar
United States
187862 Posts
 Posted 08/07/2023  11:24 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
You are missing coin shows from your choices.

I suppose that can be included under Dealers, but having so many in close proximity helps with both availability and prices.
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RickyO's Avatar
Argentina
33 Posts
 Posted 08/07/2023  11:47 pm  Show Profile   Bookmark this reply Add RickyO to your friends list Get a Link to this Reply
Hi! I am RickyO from Argentina. I live in a relatively large city, and I frequently buy coins from dealers, but also visit antique stores where I can find unusual coins too. In my country we have our own ebay called MercadoLibre. What I usually do is search for sellers who offer a wide variety of coins, make a small purchase, and after that contact the dealer directly to buy coins from them in the future outside of the online platform, because it charges the seller between 16% and 35% of the value of the sold item. That way I can usually get a discount of 15-25% of the coin's value shown online.
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Ariette's Avatar
United States
295 Posts
 Posted 08/08/2023  12:26 am  Show Profile   Bookmark this reply Add Ariette to your friends list Get a Link to this Reply
Depends on what you're looking for really. I get my high-end stuff like pre-1933 gold from dealers, though ebay auctions are nice for finding cheaper stuff.
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sel_69l's Avatar
Australia
21786 Posts
 Posted 08/09/2023  10:55 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
1. Specialist numismatic auctions in person.

3. Dealers
3. Coin shows.
(no second place)

It is essential to do careful price research first, before attending auctions.

I never bother with any of the other choices.

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NumisEd's Avatar
United States
5177 Posts
 Posted 08/09/2023  6:02 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
It depends A LOT on what you are buying.
If it is junk silver, large online retailers are probably the best. My LCS charges outrageous premiums and ebay is typically a bit overpriced.
Auction houses such as GC, HA, and Stacks are good for American classics and higher value world coins. LCS can be a good source for these coins (USA) as well, e.g. Gerry Fortin, etc.
For lower value world coins I like MA Shops, Delcampe, etc.
Coin Shows and LCS are obviously the best place to observe coins in hand. Prices can be negotiated, especially if you buy several coins from one dealer.
Edited by NumisEd
08/09/2023 6:07 pm
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United States
2281 Posts
 Posted 08/09/2023  6:26 pm  Show Profile   Bookmark this reply Add NumismaticsFTW to your friends list Get a Link to this Reply
This is your best buying source: Yourself

Education is the number one thing.

There is no cookie cutter Mickey Mouse way to do this hobby.

Invest in yourself and the world is your oyster with this hobby.
You realize when you know how to think, it empowers you far beyond those who know only what to think.

-Neil deGrasse Tyson
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Sap's Avatar
Australia
16810 Posts
 Posted 08/09/2023  7:46 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
I'll admit to being a little confused with the OP's question, but I did vote, as the way polls work on this forum, you can't vote if you post a comment first.

If by "best" and "bang for your buck" you mean cheapest, or furthest below market value, then dealers are definitely not the way to go. They need to make profit, and they won't make much profit (and won't stay in business very long) if they keep selling you coins too cheaply.

If instead you mean "high quality coins that you actually are seeking for your collection", then dealers would have to be the top of the list. "In-person auctions" wasn't on the list so I'm going to classify that with "dealers" too.

Preferring the second interpretation, I voted "dealers".

I buy a lot of items from coin club auctions, too, which I guess would fall under "Collectors" in the polls, but these are rarely "core" items that I really needed in my collection.

However, most of my recent purchases have been from a "None of the above" source. I am a volunteer for a charity that occasionally receives donations of coin collections. It's my job as "the coin guy" to try to sell these coins to raise as much money as possible for the charity. Rather than just dump them all off at a local dealer, most often I end up buying about a third of the world coins myself, for my own collection. The agreement I have with the charity is when I buy coins from them, the price I pay is in between what a dealer would have given for the coins, and what I would have paid if I'd bought the coins straight from a dealer (so, in between wholesale and retail). It's win-win; I get nice coins cheap, the charity gets more money than they would have gotten from the dealers.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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NumisEd's Avatar
United States
5177 Posts
 Posted 08/09/2023  8:39 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Yes, the most obvious choice was missing: "all of the above".
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