Whether you are a serious coin collector or just want to make an extra side income, investing in Buy Rare Junk Silver is a worthwhile venture. But in order to really succeed in this endeavour, you will have to do all your homework first. This will really help make your collection even more valuable. Just remember that whatever you buy, the condition it is in will greatly affect its value. So be sure to keep a keen eye on your investments.
When looking for a coin dealer, it would be wise to check the Better Business Bureau online listing. If there had been complaints against the dealer, you may want to reconsider doing business with them. It would also be wise to ask around to your friends, colleagues, and neighbors who may have purchased from that particular coin dealer. You might even want to scout out a coin dealer online yourself. Once you have a list of coin dealers, make a shortlist, paying special attention to ones that fit your criteria.
Once you have narrowed down your list, start making calls. Find out if they also offer other rare coin collections such as those of bullion coins, or bullion bars. Do they have items from the United States, like Walking Liberty Half Dollars, American eagle coins, or other coins from our country's early history? Inquire about what other coin collections they have and what their rates are.
Before allowing the dealer to proceed with the deal, bring your coins to the bargaining table. Explain to them what kind of investment you are looking to make and ask them how much of a discount you can expect. When they give you a price, you can now either accept or decline. If you do not have the cash on hand, then you can let them know and arrange for a cash deposit to be made before proceeding. Most coin dealers these days accept major credit cards, and most will transfer your money to your account on the same day.
Some dealers may require you to pay a down payment, and some may not. This is a very small amount that you should take care of in advance, since it will help protect your rare coin collection. When you get ready to close the deal, remember to look the dealer in the eye, and tell him/her you understand the ins and outs of purchasing coins, especially rare coin collections. If the dealer then offers to give you an even lower price, go with it. Tell them that this is the lowest price you will ever go with, and you will be happy to pay that price because it is fair.
Always check for authenticity when selling your rare coin collection. Check the year of birth for each piece, the mintmark and the date stamp on the back, and also the description that comes with the coin. You should always ask questions about the coin collection to determine its value. Even coin dealers can misplace important documentation, so it is best to keep all documents for your rare coin collection in a safe place. There are people out there who will do anything to make money from your coin collection and you do not want to become their next victim.
Keep all your personal information private when selling your rare coin collection. Your phone number, address, personal email address and social security number should never be given to another person. There are unscrupulous individuals who will use your personal information to try to obtain monetary gain from you. You should also be careful if you decide to sell your coins online because the internet has many fraudsters lurking.
When all is said and done, be sure that you are able to sell your coin collection for the asking price that you were able to get for it. The highest bidder usually gets the highest price. However, you may find that someone else wants your coins more than you do. In this case, you may want to set a minimum acceptable offer on your coins. If you can meet that price then you have a solid investment and can likely recoup what you spent on the coin collection.