Buying rare coins can be a good investment and a satisfying hobby. It is also risky, especially for a newcomer, and it carries no guarantee of a profit. Buyers can lose most of their investment if they become a victim of fraudulent sales practices.
Many coins are traded in a system that involves a national network of publications and firms posting "bid" and "ask" prices for specific coins. The "bid" price is a guide to the prices dealers are willing to pay for an average coin of that grade, while the "ask" price is a guide to the prices dealers are asking for an average coin of that grade. Typically there is a minimum 20 percent "spread," or dealer markup, between "bid" and "ask." It is important to keep in mind that these are dealer-to-dealer prices and that there is no assurance that an individual investor will be able to find anyone willing to pay the published prices.
More information on Rare Coin Fraud:
- What are the Risks of Investing in Rare Coins?
- How to Identify Fraudulent Sellers
- Steps you can Take to Protect Yourself
If you have purchased “rare coins” and would like to know the value of what you purchased, please contact us immediately. We will have your coins appraised for free and answer any questions you may have regarding your investment. Our firm is committed to making sure that you know what your rights are as a consumer and that those rights are protected!
