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Coins & Currency > The Official Blackbook Price Guide to World Coins 2008, Edition #11

The Official Blackbook Price Guide to World Coins 2008, Edition #11




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The Official Blackbook Price Guide to World Coins 2008, Edition #11

BUYING AND SELLING WORLD COINS Intelligent coin buying is the key to building a good collection at a reasonable cost. Today, with the added confusion of grading and the questionable practices of some coin sellers, it is more necessary than ever to be a skilled buyer. In the interest of supplementing the coin pricing and identification in this book with practical advice on astute buying, the editors pre-sent the following article. It reviews major pitfalls to which an unin-formed buyer might succumb and gives specific suggestions on getting the most for your money when buying coins. The editors wish to state clearly that the exposure of questionable practices by some coin sellers, as detailed below, is not intended as a general indictment of the coin trade. The vast majority of profes-sional coin dealers are ethical and try to please. Moreover, it can be safely stated that if the hobbyist restricts his buying exclusively to well-established coin dealers, he runs very little risk. QUESTIONABLE SOURCES FOR BUYING COINS Unsatisfactory sources of coins—those entailing a higher than necessary degree of risk—include flea markets, antique shops, garage sales, private parties who are unknown to you, auction sales in which coins are offered along with non-numismatic merchandise, and advertisements in magazines and newspapers published for a general readership rather than for coin collectors. This advice is given to benefit the non-expert buyer and especially the beginner. Advanced collectors with full confidence in their coin-buying skills will sometimes shop these sources to find possible bargains. MAIL-ORDER ADS IN NATIONAL MAGAZINES The sharp rise in coin values during 1979 and 1980 encouraged many promoters to deal in coins. (Promoters are persons who aren’t coin dealers in the accepted sense of the term, but who utilize coins for 5

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