What you need to know when buying rare coins online

Coin collection is a worthwhile hobby if you have the resources and the time. A coin collector usually buys coins from other collectors, from antique shops, auctions, museums, and other public events. The internet is also a real purchasing platform. However, this is one of the riskier places to buy, especially if you’re in the market for rare coins. Here are some considerations when buying rare coins online. 

Image source: thesprucecrafts.com

Buying coins online requires utmost care. There is no guaranteed return policy for every seller out there. If you ever get duped into buying a fake, that mistake is on you. So before making any purchase, make sure to check the profile of the seller if you’re buying from third party stores like Ebay or Amazon. 

It’s a good rule of thumb to snub every seller that comes from China or Hong Kong. Even if the seller isn’t from those places, if he or she has warehouses there, avoid transactions. Coins from China are usually counterfeits. 

If you’re buying through online auctions, careful read the item description before making a bid. This should include why the person is selling it, if it includes shipping charges, return policies if any, and payment options. 

Lastly, look for positive feedback from other sellers. Those who try to hide feedback may have a history of shady deals so avoid transacting with these profiles. 

Image source: coinweek.com

Dr. Tom Maibenco is a physician with more than 10,000 hours in family medicine and emergency care experience. He also takes an active role in his community, supporting programs and initiatives geared toward helping the police force and the veterans. For similar reads, visit this blog.