A lot of people have a thing about collecting coins, but buying rare coins for the sake of investment is a different game altogether. Rare coins are valued over the spot price of the metal. This extra that you pay is called the numismatic value, whereas the intrinsic value refers to metal price. Buying rare coins, for obvious reasons, requires more attention, and it is high time people realize that such coins cannot be purchased from eBay. In fact, many rare coins have fetched millions in auctions.
Know your coins
While you are expected to pay an inflated price for rare coins, everything is eventually dependent on the demand and supply. You have to be aware of the fact that rare coins are evaluated on varied factors. Besides the history and beauty of the coin, its rarity is also considered. Coins that have not been circulated and are in mint condition get a much better price than others of the same era. As a first-time investor, it is always important to know the history of the coin, just to get enough reasons as why the investment may work for your profile.
Check for the reg flags
If you find an old, rare coin in perfect condition, you have reasons to be worried. Even when a coin has not been in circulation, it may have a few scratches here and there, and more importantly, it shouldn’t be cleaned. If the price of a coin seems too good to be true, it probably is. Rare coins should be purchased when you are absolutely sure of authenticity.
Find the right dealer
eBay, pawn shops and independent sellers cannot be trusted for rare coins, and you have to find a dealer that’s licensed, has a physical office, and can be relied on. The reputation of a dealer and how frequently they deal in collectible coins must considered. You also want to be sure that the concerned dealer will be around to offer appreciation services for free, if required, and must also buy back rare coins when needed. Buying a rare coin is easy when your purchase is backed by a reputed dealer, who offers a certificate of authenticity.
Never shy away from looking for rare coins as an investment. It could be a passion, even for those who have been buying bullion coins as a part of their profile. Check online now to find dealers and buy your first coin.