When you hold a coin it feels like you are holding a little piece of history. Ancient coins are different from the coins people collect today that are sealed in plastic. You can actually touch coins. People used these coins a time ago. Roman soldiers used them to buy things. Greek merchants used them to trade with others. Maybe someone, like a slave even lost one of these coins when they were running away a very long time ago like two thousand years ago. Ancient coins are really special because of this.
So you want to start collecting things. You are worried, about getting cheated or buying something that is not real. How do you actually start collecting things without getting scammed or buying an item? You have to be careful when you start collecting things. Collecting things can be a lot of fun. You have to be careful so you do not get scammed or buy a fake item. When you start collecting things you have to make sure you are buying from a person or a place that is trustworthy.
So I was talking to the people, at Vegas Coin Dealer. They gave me some really good advice. Here is everything you need to know to start your journey into the world of coins, which is really interesting. The Vegas Coin Dealer experts told me a lot of things that I think you should know too. I am going to share them with you.
Where to Buy (And Where to Avoid)
The hardest thing, about collecting coins is finding the coins. I think finding the coins is really tough. Collecting coins is fun. Finding the coins can be very difficult. Finding the coins is the biggest problem. The coins are what make collecting coins so finding the coins is very important.
• Auctions: When you are new, to buying things at auctions it is an idea to go with a company that is well known and trusted. Most of these auction companies let you bid without telling everyone what you are bidding. This is a way to start because these companies make sure that the things they are selling are real. Auctions can be a lot of fun. You have to be careful. That is why going with a trusted auction company is the way to go. They make sure that everything is authentic which means you do not have to worry about buying something that’s not real. Auctions are a place to find unique things and with a good company you can have a good experience.
• Dealers: When you buy from a dealer it is a good way to get what you want.. You have to make sure they are trustworthy. You should ask people who collect things about the dealers they have used. If you go to a coin show be careful of dealers who have cases or cannot tell you much about what they are selling. This is a sign and you should avoid these dealers. Always remember, dealers who are not honest will hurt your collection of coins. So you have to be careful when you deal with dealers.
Online: You should really stick to companies that have been around, for a while. Doing a Google search can help you find Online companies that guarantee the things they sell. I would avoid using websites that do not have a good reputation when you are shopping Online.
The “Slab” vs. “Raw” Debate
• Modern Collectors: Often prefer coins certified and encapsulated by third-party graders like NGC.
• Traditionalists like to collect coins that are not graded they just want the coins as they’re. They keep these coins in velvet trays. This way they can actually touch the coins, which is what they really love about collecting ancient coins. They think it is great to be able to hold something that’s really old and feel like they are a part of history which is what ancient numismatics is all, about.
Beware of Fakes (The #1 Risk)
Counterfeiting is the biggest issue in the market today.
• Casting is the way that fake coins are made. People make these fake coins using molds. You can usually tell they are fake because they have bubbles or the details are not very sharp. Sometimes you can even see a line on the edge of the coin where it was made. This line is, like a seam. Fake coins made by casting often have these things with them.
• Tooling: Some dealers will actually change a coin that is worn out by adding new details to it. This is really bad for the coin. It makes the coin worth less. When we talk about tooling we mean that people are making changes, to a coin like carving new details into it and that is not a good thing because it damages the coin and lowers its value. The value of the coin goes down when tooling is done to it.
• Things That Look Wrong: Some people make very good fake things that are made from new tools created by a special kind of engraving that uses a laser. These fake things look too good. Do not have the usual signs of age and damage that you would see on something that is 2,000 years old. The real ancient things have. Oxidation on them but these fake things do not. They are made to look like things but they are actually fake. The fake ancient things, like the coins are often made to look perfect but that is not how real ancient things look.
• The Solution: Weigh your coins. If you know how much a real coin should weigh then you can tell if it is a coin. Knowing the weight of a specific coin is the best way to stop people from selling you fake coins.
Understanding Provenance (Legality)
You need to know the history of your money. It is really important to understand where your coin came from. This is because the coin has a story, behind it and that story is what makes it special. You have to think about who made your coin and what it was used for in the past. The history of your coin is what gives it value so you must know where your coin came from.
• The Risk: A lot of coins are taken out of the ground in places like Italy, Greece and Turkey without permission and secretly sold to other people. This is a problem with ancient coins. Ancient coins are often smuggled out of these countries, which’s really bad, for ancient coins. The ancient old coin buyer market is good.
• The Consequence: Homeland Security can take away coins that people bring into the country illegally which’s what happens when people do not follow the rules, for importing coins and Homeland Security finds out that these coins were brought into the country in an illegal way so they confiscate these coins.
• The Fix: You should always ask for paperwork. Look into the auction companys rules about telling people things. If the person selling something cannot tell you where it came from then you should not buy it from the seller. Just walk away, from the auction. Always remember to check the auction firms declaration policy and ask for documentation to be safe when buying something.
Rare vs. Scarce (Don’t Be Fooled)
Car dealers often say these words. They sound the same but they are not. They use them to make people pay a lot of money. The words have different meanings. Car dealers do this to get money from people and the terms are not the same thing. Old coin buyer is a website that helps you find old coin buyer.
• Rare: A coin with very few minted examples (e.g., specific issues from the Athenian democracy). These will always be valuable.
• Some coins are really hard to get now but that could change. These coins are what people call scarce. A scarce coin is one that’s currently hard to find but it might not be that way forever because the status of a scarce coin can change over time.
• Example: The Silphium plant coins from Kyrene were really hard to find and cost a lot of money. That was until someone found a bunch of them. 10,000 Silphium plant coins. Now the Silphium plant coins are everywhere. The price of the Silphium plant coins has gone down. So the lesson here is do not pay much money for something just because it is hard to find, like the Silphium plant coins.
Final Thoughts
Collecting coins is not just something that rich people do. It is a thing that lets anyone have something from a long time ago. You can start with things look into it and make sure to buy from people who are honest and good, at what they do instead of going for deals that seem like they are too good to be true when you are buying ancient coins. Ancient coins are really cool. You can own ancient coins if you want to. There are many people interested in buyin old coins at old coins buyer website.
Happy Hunting!