| An understanding of the long history of coin | | | | their hands on these. |
| collecting, once known as "the hobby of kings," will | | | | There were only a few coins with this error, and |
| make this pastime even more enjoyable. | | | | their scarce nature has made them valuable to |
| The history of gold coins dates as far back as | | | | collectors. |
| 2,700 years ago. The first gold coins in the world | | | | As you become a more experienced coin |
| were issued in Lydia around 640 B.C. certain | | | | collector your "eye" will mature and you'll be |
| internet websites will provide you with a lot of | | | | looking more closely at details like the lettering on |
| information about the history of gold coins. | | | | a coin, making sure the letters are still clear and |
| Many countries produce gold coins for collectors | | | | not worn down. |
| or for commemorative purposes. These coins | | | | Coin collecting for investment purposes can be a |
| oftentimes emphasize unique aspects of the | | | | tricky endeavor. |
| country's culture. | | | | One protection that a coin buyer should know is |
| One of the most common mistakes that turn | | | | how to get "feedback"; that way, a person can |
| normal coins into limited rare coins is a mistake in | | | | see the ratings other bidders give the seller and |
| the printing. | | | | he may compare his transaction with the |
| Avoid touching the coin unnecessarily, as dirt and | | | | transaction of the others. Since there is a great |
| grease from your fingers will tarnish the finish | | | | risk of fraud where there is negative feedback, |
| over time. Exposure to air oxidizes metal, | | | | the person may withdraw his participation from |
| changing its colour. | | | | the auction if he deems that to be necessary. |
| To the collector, bragging about 'finds' constitutes | | | | A person may also acquire ideas by looking for |
| one of life's most enjoyable pastimes. | | | | those members who have left "positive feedback" |
| One thing is for certain, there isn't a coin collector | | | | and compare it to the reaction of the sellers. A |
| out there who will stop collecting just because the | | | | person can make an assessment of what could |
| prices have risen a little and probably the same | | | | be possible useful information from those |
| amount will consider selling their prize collection to | | | | reactions. Be careful and precise about any |
| the highest bidder. | | | | transaction that is offered by the seller. |
| Commemorative coins are a popular form of | | | | There are instances where a person is deceived |
| collection, as are rare minted coins like those | | | | about the item he purchased. The photo shown |
| which had an error in their stamping. If a certain | | | | on the Internet displayed the coin that a person |
| set of coins doesn't interest you, it won't be any | | | | wants to have but they delivered a totally |
| fun at all to become a collector. | | | | different item. These cases are fraud. A person |
| Because coin dealers are experts in their chosen | | | | must make sure that the item he saw on the |
| fields, they will also have better connections than | | | | photo is the exact item that will be delivered to |
| individuals who buy coins on their own will. | | | | him. Here are some tips that will help a person |
| Tips on How to Avoid Fraud on Collectible Coins | | | | prevent fraud during a coin search in the Internet. |
| Many people enjoy shopping online where there | | | | 1. A person should save the online photo of the |
| are great buys of coins that can be found. A | | | | coin he wants to purchase. Many sellers remove |
| person may prefer do his shopping while he is at | | | | the image and the title of the item once a |
| home because it is convenient and time-saving | | | | purchase has been made. |
| instead of going out looking for stores that sell | | | | 2. A person should get the description and the |
| collectible coins and other souvenirs. | | | | auction information. It should either be e-mailed to |
| A person can differentiate between a live auction | | | | the buyer or sent in writing by mail. |
| and an Internet because an online auction can | | | | 3. If there are suspicions regarding an auction, a |
| take several days to complete. They entertain | | | | person should ask for clarification from to the |
| bids for the highest price up until the time the | | | | seller. This will avoid misunderstandings and |
| auction is about to close.. Many people that are | | | | confusion on the part of the buyer. |
| bidding online enjoy the experience and they may | | | | 4. A person has the right to refuse any |
| be familiar with the strategies to use to win an | | | | transaction where he thinks the price given on the |
| online auction. | | | | coin is too high. One should be aware of the |
| There are also online sites where a person can | | | | standard price of the specific coin and compare it |
| buy any item that may capture his interest. This | | | | to the price that was given during the online |
| is where most coin collectors purchase their | | | | transaction. |
| desired coins. By searching and finding the item | | | | 5. A person can ensure that there will be no fraud |
| that they want, they can actually negotiate and | | | | by asking the seller, before the auction closes, if |
| make the payments through the Internet. This | | | | there is any available escrow assistance for the |
| can be very risky as you are dealer/seller that is | | | | bidder. |
| unknown to the buyer, yet many people are still | | | | These are only a few tips that will ensure a |
| making transactions and payments through this | | | | person of his safety when making any |
| kind of online auction. | | | | transactions online. Fraud can happen to anyone, |
| Fraud is common even though many Internet | | | | especially those who are interested in purchasing |
| sites that do business online contend that the risk | | | | collectible coins online. It is always important to be |
| of fraud is not something to worry about. They | | | | informed and knowledgeable about the possibilities |
| contend that only 0.0025 percent of true cases of | | | | of encountering fraud. |
| fraud occur with online transactions - that means | | | | The collection of ancient, commemorative, and |
| only one out of 40,000 listed Internet transactions | | | | rare coins is a fun and exacting hobby, and opens |
| would be fraudulent. On the other hand, the FBI | | | | up a realm of history that most people never get |
| has their own investigations, which prove that | | | | to see. |
| those figures are not true- they contend that the | | | | An avid coin collector will be able to tell you |
| risk of fraud is much higher according to their | | | | virtually every piece of history that surrounds any |
| statistics. | | | | coin in their collection both because they tend to |
| A person should believe the FBI for his own | | | | specialize and because knowledge is one of the |
| protection. Even if one can say that the majority | | | | most important factors when it comes to starting |
| of online coin selling transactions are honest and | | | | and maintaining a collection of any value or worth. |
| credible, the process used to make the | | | | Good quality coins purchased at reasonable prices |
| transaction most probably is questionable and | | | | will appreciate, but probably no better or worse |
| uncertain. There are business transactions, which | | | | than other investments. |
| are intentionally committing fraud with their clients | | | | Before purchasing coins, one must do much |
| and buyers. Aside from flea-market dealers, | | | | research about that coin. He must assess its |
| mail-order sellers, in-person auctions and some | | | | current market value and make sure that the |
| coin stores, the Internet has introduced the crime | | | | coin is genuine. |
| of fraud to many people in the easiest way | | | | Generally speaking, putting demand aside, the |
| possible. | | | | more scare/rare a coin, the higher its value. This |
| All coin dealers are not created equal, and it is | | | | is usually very true, especially when comparing |
| nearly impossible to specialize in every area when | | | | dates within the same series. |
| it comes to collecting rare coins. Therefore, it's | | | | Some precious coins with double stamping include |
| important to know what to look for before you | | | | doubled-die Lincoln cents from 1972, 1983, and |
| select a professional for your coin collecting needs. | | | | 1984, and a doubled quarter minted in New York |
| Coin collectors and hobbyists number millions | | | | in 2001. |
| around the world. This hobby is taken so seriously | | | | A lot of people find collecting gold coins as not |
| that there are even professional dealers and | | | | only an incredibly interesting hobby but a fairly |
| investors who ply their trade in this fashion. | | | | lucrative one as well! Over time, your collection will |
| Buy quality! Buy quality! Buy quality! That's all you | | | | accure value and parts of it can be sold if you |
| hears these days when you are considering rare | | | | desire. |
| coins as an investment. | | | | Always be on the lookout for rare gold coins, and |
| The American Gold Eagle stands out among other | | | | have coins appraised by a gold coin expert to |
| bullion coins because of its lovely design, and | | | | avoid large differences in price. |
| because its value is backed by the full strength of | | | | You can get a silver locating device or a magnetic |
| the United States government. | | | | pole for finding loose coins in ditches, under cars, |
| Within one hundred years, the concept of coins | | | | or in other hard-to-reach places. Or simply rely on |
| had been adopted by all of the major trading | | | | your eyes to identify those gleaming metal |
| cities in the civilized world. | | | | circlets of potential wealth. |
| For most gold coin collectors, there are the highly | | | | During the Renaissance, popes and nobility began |
| coveted rare gold coins and a lot of gold coin | | | | collecting coins for their artistic and historical value, |
| collectors are interested in these rare gold coins | | | | and the name "the hobby of kings" was born. |
| that they will offer high bids just to be able to get | | | | |